|This calculator is intended to give you an accurate understanding of your comparative financial situation across multiple schools and potential job offers. It is intended to offer illustrative comparisons only, not financial advice. None of the information presented in this calcualator should be taken as financial advice or instructions.|
|Instructions for Use|
|This calculator functions primarily from the "Master Controls" sheet. Use the cells highlighted in blue to alter certain constants about your financial decisions and your school choices. Cells are not protected, so please exercise care in altering data. To get a basic financial picture:|
1) Input your personal data into the blue cells on the "Master Controls" sheet. Personal Savings Rate adjusts the amount of money you save per year that doesn't go to debt payments. While you can zero this out for a faster debt payment, that bears its own significant financial risks. Please note that this calculates the "10 Year Tracked Savings Rate". That is, the amount of money that you will have saved by year 10 while indebted. It will not track hypothetical savings after you've paid off your student loan debt if you re-pay in less than 10 years.
2) Input your school-specific scholarship and financial information into each school tab. If you have an LRAP or external repayment assistance, input year-by-year in column S.
3) Compare re-payment information on "Master Controls" tab. More detailed information for each school found in each school tab.
4) NOTE: If you intend on pursuing BigLaw and know your salary scale, feel free to use the override column found on the far right of each School tab to manually input your first six year's salary data. After six years, the standard inflation rate, as defined across the Calculator will kick in.
|For edit access - select "Make a Copy" from the File menu.|
For questions, please contact email@example.com or abujabal on the Law School Life forums