What will this degree cost me in total?
Four years of a real institution's published cost, the borrowing it implies, and the interest that accrues before the first payment is due.
You would borrow $71,640.00 across 4 years. By the time repayment starts, six months after you finish, $15,205.61 of interest has accrued on top. Adding up four years of borrowing understates the debt at graduation, and that gap is what most people miss.
- $17,910.00Borrowed each year
- $71,640.00Total borrowed
- $15,205.61Interest before the first payment
- $987.00Standard payment over ten years
| Year | Borrowed so far | Interest so far | Owed |
|---|---|---|---|
| Year 1 | $17,910.00 | $1,167.73 | $19,077.73 |
| Year 2 | $35,820.00 | $3,579.33 | $39,399.33 |
| Year 3 | $53,730.00 | $7,315.90 | $61,045.90 |
| Year 4 | $71,640.00 | $12,463.83 | $84,103.83 |
What this assumes
A cost that stays flat, aid that stays flat, and a programme finished on time. All three usually move, and published costs have risen every year for decades. Treat the figure as a floor rather than a forecast.
Origination fees are not included. A federal loan is disbursed net of a fee of 1.057% on a Direct Subsidized or Unsubsidized loan and 4.228% on a PLUS loan, so borrowing enough to cover a gap means borrowing slightly more than the gap.
Why the debt at graduation is larger than the borrowing
On an unsubsidized loan, interest starts the day the money is disbursed. Four years of borrowing plus six months of grace means the first year's loan has been accruing for four and a half years before the first payment is due. Adding up the disbursements understates what you owe, and it is the understated figure people plan against.
Published cost is not what most people pay
The published cost of attendance is a sticker price. Net price, after grants and scholarships that do not have to be repaid, is what matters, and at many private institutions the two differ enormously. The institution pages on this site carry both where the Department reports them.
Sources
- Interest Rates for Federal Direct Loans First Disbursed Between July 1, 2026 and June 30, 2027 (GENERAL-26-33), U.S. Department of Education, Federal Student Aid. Checked on . Backs the 6.52%, 8.07% and 9.07% rates for 2026-27; the statutory add-ons and caps; the 12 May 2026 Treasury auction high yield of 4.468%.
- Interest rates and fees for federal student loans, U.S. Department of Education. Checked on . Backs the 1.057% and 4.228% origination fees; that the published fees run only to 30 September 2027; the 5% rate on outstanding Perkins loans.
- Repayment plans and important definitions, U.S. Department of Education. Checked on . Backs the annual and aggregate borrowing limits from 1 July 2026; the $20,000 annual and $65,000 aggregate Parent PLUS caps; the $257,500 lifetime maximum for a student borrower; proration of annual limits for part-time enrolment; the 1% automatic debit reduction and its June 2028 expiry.
The rules behind this calculator were last checked on .
Related
How much debt is too much for this career?
Total borrowing against a starting salary, and what the standard payment takes out of it. The bands are this site's own judgement and are labelled as such.
What does capitalized interest actually cost me?
Interest that accrues while you are not paying is owed either way. What costs extra is the moment it joins your principal and starts earning interest of its own. This separates the two.
What will my monthly payment be?
A fixed payment over a fixed term, with the interest it costs over the whole loan, and what putting anything extra against the principal does to both.