Salary-to-Debt Calculator

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.

Not sure how much you will make?
North Dakota Job Service Labor Market Information site can help.

What will your total cost be at the school you are considering? Check out the 2023-24 rates from regional colleges and remember to multiply the annual cost by the number of years you will attend.

Is there 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.