How accurate is the AAMC Medloans Calculator?

[SoulinNeed]

https://services.aamc.org/30/first/home#.UdyoQfmsj0s

So, I put in my info and estimated loans for the four years, and it comes out to a good deal less than I thought it would, based off of my own calculations. However, mine are likely wrong because I estimated all my loans in full disbursements instead of semiannually. However, the estimated monthly payment (after residency) is more than $3K a month, when my estimated balance post residency is a bit under $200K. I put the repayment period (including residency) at 15 years, so I don't get it. The interest rates are stafford loans, so 6.8%.

Anyone know if this thing is accurate?

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[Kal EI]

https://services.aamc.org/30/first/home#.UdyoQfmsj0s

So, I put in my info and estimated loans for the four years, and it comes out to a good deal less than I thought it would, based off of my own calculations. However, mine are likely wrong because I estimated all my loans in full disbursements instead of semiannually. However, the estimated monthly payment (after residency) is more than $3K a month, when my estimated balance post residency is a bit under $200K. I put the repayment period (including residency) at 15 years, so I don't get it. The interest rates are stafford loans, so 6.8%.

Anyone know if this thing is accurate?

You're likely making a mistake. A 15 year loan of 200k is around $1800 a month at 6.8%. Just get a rough estimate of your full loan amount, add accumulated interest - then use any loan calculator on the web.

A 333k loan would have a $3k payment on a 15 year term (6.8%).

 

[SoulinNeed]

You're likely making a mistake. A 15 year loan of 200k is around $1800 a month at 6.8%. Just get a rough estimate of your full loan amount, add accumulated interest - then use any loan calculator on the web.

A 333k loan would have a $3k payment on a 15 year term (6.8%).

Well, my post residency balance is about $180K to be exact, and all I did for that was place what my expected loans will be for the four years, and then put down an estimate for residency years (5 years). Have people generally found the post residency estimate to be correct, or is this calculator too new to know for sure?

 

[SoulinNeed]

OK, now I know why the estimated monthly payments are so high. While the repayment length is 15 years (including residency), it only gives me 10 years to pay off the stafford loans (the vast majority of my loan amounts). I'll be paying off a bit of my stafford loans through IBR during my residency years, but that's a small amount. Thus, it essentially expects me to pay off my stafford loans in 5 years, which leads to a very high monthly amount.

After residency (if we're paying through IBR), can we extend stafford loan repayment?