William H.

Loans, MD
Today's Date 10/26/2019
Total Principal $ 15,644.00
+ Total Interest 1,919.14
Total Loan Amount $ 17,563.14

Disbursement Date Disbursed Amount Interest Rate

8/9/2017 1,234.00 6.00%
Fall 8/23/2017 5,678.00 6.00%
8/23/2017 910.00 7.00%
M1 12/27/2017 1,234.00 6.00%
Spring 12/27/2017 5,678.00 6.00%
12/27/2017 910.00 7.00%
Subtotal

Fall

M2
Spring

Subtotal

Fall

M3
Spring

Subtotal

Fall

M4
 Fall

M4
Spring

Subtotal
m H. Loans, MD

Etc. To-Date Interest Present Value

163.90 1,397.90
741.10 6,419.10
138.57 1,048.57
135.50 1,369.50
623.49 6,301.49
116.58 1,026.58
$ 17,563.14
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Put your own numbers in the orange boxes <---Instructions
Outputs look like this

Fully capitalized amount of loan at end of medical schoool $123,456.00

After tax residency salary $45,000
After tax physician salary $265,000
Approximate Interest Rate (assumes Monthly compounding) 6.8%
How many years for residency 3
Monthly payment during residency $2,000
Total paid during residency $72,000
Monthly payment needed during residency to pay off interest $700
What you owe at the end of residency $71,686
What you saved in interest by paying early $7,620.78
Days living like a resident on physician salary that you saved compared to
paying nothing during residency 12.47

Months Paying After

What would it be if? Residency
10 Year Payof 120
5 Year Payof 60
Live on resident salary and put 100% to loan 4
Live on resident salary and put 70/30 split extra to loan/savings 6
 Cost to Live? → 18,000.00

Monthly Payment Total Paid

-$825 -$170,996
-$1,413 -$156,763
-$18,333 -$145,333
-$12,833 -$149,000
 interest rate 8%
loan per year $76,000.00 End of Med School
age 30 age 31 age 32 age 33
year 01 year 02 year 03 year 04
Start Med School $ 81,776.00 $ 87,990.98 $ 94,678.29 $ 101,873.84
year 2 med school $ 81,776.00 $ 87,990.98 $ 94,678.29
year 3 med school $ 81,776.00 $ 87,990.98
year 4 med school $ 81,776.00

Debt Outstanding
Debt Paydown
Ending Balance
Salary Resident $50,000.00
tax 35%
$17,500.00
take home $32,500.00
Monthly living expenses $1,800.00
$21,600.00
pay off per year $10,900.00
 End of Residency
age 34 age 35 age 36 age 37 age 38
year 05 year 06 year 07 year 08 year 09

$ 366,319.11 $ 382,430.96 $ 399,767.31 $ 418,421.23 $ 438,492.84

$ 10,900.00 $ 10,900.00 $ 10,900.00 $ 10,900.00 $78,000.00
$ 355,419.11 $ 371,530.96 $ 388,867.31 $ 407,521.23 $ 360,492.84

salary doctor $300,000.00

tax 50%
$150,000.00
take home $150,000.00
living expenses $6,000.00
$72,000.00
pay off per year $78,000.00
 age 39 age 40 age 41 age 42 age 43
year 10 year 11 year 12 year 13 year 14

$ 387,890.30 $ 333,441.96 $ 274,855.55 $ 211,816.57 $ 143,986.63

$78,000.00 $78,000.00 $78,000.00 $78,000.00 $78,000.00
$ 309,890.30 $ 255,441.96 $ 196,855.55 $ 133,816.57 $ 65,986.63

total payments (adjust by your self) $ 552,455.55

 age 44 age 45 age 46 age 47 age 48
year 15 year 16 year 17 year 18 year 19

$ 71,001.61 $ (7,530.27) $ (92,030.57) $ (182,952.89) $ (280,785.31)

$78,000.00 $78,000.00 $78,000.00 $78,000.00 $78,000.00
$ (6,998.39) $ (85,530.27) $ (170,030.57) $ (260,952.89) $ (358,785.31)
 age 49 age 50 age 51
year 20 year 21 year 22

$ (386,052.99) $ (499,321.02) $ (621,197.42)

$78,000.00 $78,000.00 $78,000.00
$ (464,052.99) $ (577,321.02) $ (699,197.42)