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In-school Financial Budget Calculator

Here are a few tips on how best to use this calculator:

  • Use it to help plan your spending – it shows you how much you can afford to borrow while you’re in school and how best to repay once you’re out
  • Personalize the budget categories to reflect your own expenses so that it more accurately reflects what’s going on in your life
  • Keep a daily journal of how you spend your money – write down what you spend in each category and then tally up the columns – it will be very eye-opening
  • Keep track of your budget and your journal and, if you find yourself spending too much, make necessary adjustments – now is the time!

Education Expenses per Academic Year

Living Expenses per Month

Housing

Utilities

Food

Transportation

Insurance

Other Living Expenses

Financial Resources other than Education Loans (per Academic Year)

Budget Summary (per Academic Year)

Summary of Living Expenses by Category

  Monthly Academic Year
Housing
Utilities
Food
Transportation
Insurance
Other Living Expenses

Total Living Expenses

If your in-school budget balance is negative, you have a budget deficit – a situation that is typical of most students. This means you have more anticipated expenses than non-loan resources. This budget deficit represents what you may need to borrow in order to pay all of your expenses for the school year. However, we recommend you also examine your expenses closely to see if there are ways to cut your spending. If so, this will help you reduce what you may have to borrow.