An official website of the State of North Dakota
Make time to understand how taking out a student loan will impact your finances in the future. That way, you can Be Confident knowing you are making good decisions with your money.
Use this calculator to estimate the maximum amount of student loan debt you may be able to reasonably repay based on your anticipated salary. It is recommended that your monthly student loan payment be no more than 8% of the gross income you will receive with your certificate, diploma or degree when you graduate.
Note: You can get a rough estimate using a 6% interest rate and repayment of student loans within 10 years of graduation. It is to be used as a guide and your personal circumstances may influence your ability to repay loans. Click to view current student loan rates for Bank of North Dakota and federal student loans.
What will your total cost be at the school you are considering?
What will your total cost be at the school you are considering? Click here to view BND’s College Cost Guide, which provides estimated costs of attendance at regional colleges, and remember to multiply the annual cost by the number of years you will attend.
Research careers and salaries
What career are you interested in? What is the salary? What education is needed and how much will it cost you? Use these links below to get started.
Labor Market Information
Insights.nd.gov
Is there a gap?
If there is a gap between the amount of recommended student loan debt and the amount you can contribute through savings, scholarships, grants and current work income, don’t be discouraged because there are ways to address the difference.
Additional Resources
Smart with My Money
College Cost Guide
FAFSA Facts
Scholarships and Grants