Help with Excel spreadsheets

[PeteyHC]

Trying to figure out a good excel spreadsheet to lay out the loans and interest on the loans over the next 4 years of med school. Does anyone have a good model they wouldn't mind posting ?? I am not great at excel and less than perfect with finances, could definitely use some help.

Thanks !!

 

[quakk]

hi!

give this one a shot. there's a tab for credit cards that's not perfect, but pretty close. and simple interest loans. the ssl tabs are subsidised - no interest compounded at loan repayment. the usl tabs are unsubsidised, hence the interest compounded at repayment.

pm me with questions.

cheers!

Trying to figure out a good excel spreadsheet to lay out the loans and interest on the loans over the next 4 years of med school. Does anyone have a good model they wouldn't mind posting ?? I am not great at excel and less than perfect with finances, could definitely use some help.

Thanks !!

 

[nontrdgsbuiucmd]

This stuff can be as simple or as complex as you'd like. I've attached the simple version.

The more accurate (complex) version would show different interest rates for the different loans, indicate which ones accrue interest during school versus those that capitalize interest after school is done, show when exactly you'd start repayment given there is an optional 6 month payment deferral, and potentially include your decision about IBR or ICR (repayment option that bases the monthly loan payment on your income the prior tax year).

I contend it's a good thing to learn basic functions on a financial calculator (or excel). Almost got taken advantage of at an auto dealership because I didn't bring one with me, and after 5+ hrs sitting at a dealership, the numbers all just ran together.