paying back NYU loan...

[digo]

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[indian bds]

hey guys is this the real picture here? if the interest is 6%(prime) + 2% and variable, you'd most probably get 9% over de years. Do not forget they also have a 3% pre-payment fee.

now, after graduation in 4 years you if you want your practice, you need to get another 300 000. and now the new monthly payment would be at least 5000$/month, wow!!!!!! will one become a slave of the system???

is it worth it in the long run????

any opinions appreciated, thanks




Mortgage Amortization Calculator
Your customized amortization for:

a loan amount of $300,000.00 at an interest rate of 9% over a period of 15 years. The monthly payment is $3,042.80.

If you would like to modify this schedule, please click here

Year 1
Month Payments Principal Interest Balance
Mar,2007 $3,042.80 $792.80 $2,250.00 $299,207.20
Apr,2007 $3,042.80 $798.75 $2,244.05 $298,408.45
May,2007 $3,042.80 $804.74 $2,238.06 $297,603.71
Jun,2007 $3,042.80 $810.77 $2,232.03 $296,792.94
Jul,2007 $3,042.80 $816.85 $2,225.95 $295,976.09
Aug,2007 $3,042.80 $822.98 $2,219.82 $295,153.11
Sep,2007 $3,042.80 $829.15 $2,213.65 $294,323.96
Oct,2007 $3,042.80 $835.37 $2,207.43 $293,488.59
Nov,2007 $3,042.80 $841.64 $2,201.16 $292,646.95
Dec,2007 $3,042.80 $847.95 $2,194.85 $291,799.00
Jan,2008 $3,042.80 $854.31 $2,188.49 $290,944.69
Feb,2008 $3,042.80 $860.71 $2,182.09 $290,083.98
Year Totals $36,513.60 $9,916.02 $26,597.58 $290,083.98



Year 2
Month Payments Principal Interest Balance
Mar,2008 $3,042.80 $867.17 $2,175.63 $289,216.81
Apr,2008 $3,042.80 $873.67 $2,169.13 $288,343.14
May,2008 $3,042.80 $880.23 $2,162.57 $287,462.91
Jun,2008 $3,042.80 $886.83 $2,155.97 $286,576.08
Jul,2008 $3,042.80 $893.48 $2,149.32 $285,682.60
Aug,2008 $3,042.80 $900.18 $2,142.62 $284,782.42
Sep,2008 $3,042.80 $906.93 $2,135.87 $283,875.49
Oct,2008 $3,042.80 $913.73 $2,129.07 $282,961.76
Nov,2008 $3,042.80 $920.59 $2,122.21 $282,041.17
Dec,2008 $3,042.80 $927.49 $2,115.31 $281,113.68
Jan,2009 $3,042.80 $934.45 $2,108.35 $280,179.23
Feb,2009 $3,042.80 $941.46 $2,101.34 $279,237.77
Year Totals $36,513.60 $10,846.21 $25,667.39 $279,237.77



Year 3
Month Payments Principal Interest Balance
Mar,2009 $3,042.80 $948.52 $2,094.28 $278,289.25
Apr,2009 $3,042.80 $955.63 $2,087.17 $277,333.62
May,2009 $3,042.80 $962.80 $2,080.00 $276,370.82
Jun,2009 $3,042.80 $970.02 $2,072.78 $275,400.80
Jul,2009 $3,042.80 $977.29 $2,065.51 $274,423.51
Aug,2009 $3,042.80 $984.62 $2,058.18 $273,438.89
Sep,2009 $3,042.80 $992.01 $2,050.79 $272,446.88
Oct,2009 $3,042.80 $999.45 $2,043.35 $271,447.43
Nov,2009 $3,042.80 $1,006.94 $2,035.86 $270,440.49
Dec,2009 $3,042.80 $1,014.50 $2,028.30 $269,425.99
Jan,2010 $3,042.80 $1,022.11 $2,020.69 $268,403.88
Feb,2010 $3,042.80 $1,029.77 $2,013.03 $267,374.11
Year Totals $36,513.60 $11,863.66 $24,649.94 $267,374.11



Year 4
Month Payments Principal Interest Balance
Mar,2010 $3,042.80 $1,037.49 $2,005.31 $266,336.62
Apr,2010 $3,042.80 $1,045.28 $1,997.52 $265,291.34
May,2010 $3,042.80 $1,053.11 $1,989.69 $264,238.23
Jun,2010 $3,042.80 $1,061.01 $1,981.79 $263,177.22
Jul,2010 $3,042.80 $1,068.97 $1,973.83 $262,108.25
Aug,2010 $3,042.80 $1,076.99 $1,965.81 $261,031.26
Sep,2010 $3,042.80 $1,085.07 $1,957.73 $259,946.19
Oct,2010 $3,042.80 $1,093.20 $1,949.60 $258,852.99
Nov,2010 $3,042.80 $1,101.40 $1,941.40 $257,751.59
Dec,2010 $3,042.80 $1,109.66 $1,933.14 $256,641.93
Jan,2011 $3,042.80 $1,117.99 $1,924.81 $255,523.94
Feb,2011 $3,042.80 $1,126.37 $1,916.43 $254,397.57
Year Totals $36,513.60 $12,976.54 $23,537.06 $254,397.57



Year 5
Month Payments Principal Interest Balance
Mar,2011 $3,042.80 $1,134.82 $1,907.98 $253,262.75
Apr,2011 $3,042.80 $1,143.33 $1,899.47 $252,119.42
May,2011 $3,042.80 $1,151.90 $1,890.90 $250,967.52
Jun,2011 $3,042.80 $1,160.54 $1,882.26 $249,806.98
Jul,2011 $3,042.80 $1,169.25 $1,873.55 $248,637.73
Aug,2011 $3,042.80 $1,178.02 $1,864.78 $247,459.71
Sep,2011 $3,042.80 $1,186.85 $1,855.95 $246,272.86
Oct,2011 $3,042.80 $1,195.75 $1,847.05 $245,077.11
Nov,2011 $3,042.80 $1,204.72 $1,838.08 $243,872.39
Dec,2011 $3,042.80 $1,213.76 $1,829.04 $242,658.63
Jan,2012 $3,042.80 $1,222.86 $1,819.94 $241,435.77
Feb,2012 $3,042.80 $1,232.03 $1,810.77 $240,203.74
Year Totals $36,513.60 $14,193.83 $22,319.77 $240,203.74



Year 6
Payments Principal Interest Balance
Mar,2012 $3,042.80 $1,241.27 $1,801.53 $238,962.47
Apr,2012 $3,042.80 $1,250.58 $1,792.22 $237,711.89
May,2012 $3,042.80 $1,259.96 $1,782.84 $236,451.93
Jun,2012 $3,042.80 $1,269.41 $1,773.39 $235,182.52
Jul,2012 $3,042.80 $1,278.93 $1,763.87 $233,903.59
Aug,2012 $3,042.80 $1,288.52 $1,754.28 $232,615.07
Sep,2012 $3,042.80 $1,298.19 $1,744.61 $231,316.88
Oct,2012 $3,042.80 $1,307.92 $1,734.88 $230,008.96
Nov,2012 $3,042.80 $1,317.73 $1,725.07 $228,691.23
Dec,2012 $3,042.80 $1,327.62 $1,715.18 $227,363.61
Jan,2013 $3,042.80 $1,337.57 $1,705.23 $226,026.04
Feb,2013 $3,042.80 $1,347.60 $1,695.20 $224,678.44
Year Totals $36,513.60 $15,525.30 $20,988.30 $224,678.44



Year 7
Payments Principal Interest Balance
Mar,2013 $3,042.80 $1,357.71 $1,685.09 $223,320.73
Apr,2013 $3,042.80 $1,367.89 $1,674.91 $221,952.84
May,2013 $3,042.80 $1,378.15 $1,664.65 $220,574.69
Jun,2013 $3,042.80 $1,388.49 $1,654.31 $219,186.20
Jul,2013 $3,042.80 $1,398.90 $1,643.90 $217,787.30
Aug,2013 $3,042.80 $1,409.40 $1,633.40 $216,377.90
Sep,2013 $3,042.80 $1,419.97 $1,622.83 $214,957.93
Oct,2013 $3,042.80 $1,430.62 $1,612.18 $213,527.31
Nov,2013 $3,042.80 $1,441.35 $1,601.45 $212,085.96
Dec,2013 $3,042.80 $1,452.16 $1,590.64 $210,633.80
Jan,2014 $3,042.80 $1,463.05 $1,579.75 $209,170.75
Feb,2014 $3,042.80 $1,474.02 $1,568.78 $207,696.73
Year Totals $36,513.60 $16,981.71 $19,531.89 $207,696.73



Year 8
Payments Principal Interest Balance
Mar,2014 $3,042.80 $1,485.07 $1,557.73 $206,211.66
Apr,2014 $3,042.80 $1,496.21 $1,546.59 $204,715.45
May,2014 $3,042.80 $1,507.43 $1,535.37 $203,208.02
Jun,2014 $3,042.80 $1,518.74 $1,524.06 $201,689.28
Jul,2014 $3,042.80 $1,530.13 $1,512.67 $200,159.15
Aug,2014 $3,042.80 $1,541.61 $1,501.19 $198,617.54
Sep,2014 $3,042.80 $1,553.17 $1,489.63 $197,064.37
Oct,2014 $3,042.80 $1,564.82 $1,477.98 $195,499.55
Nov,2014 $3,042.80 $1,576.55 $1,466.25 $193,923.00
Dec,2014 $3,042.80 $1,588.38 $1,454.42 $192,334.62
Jan,2015 $3,042.80 $1,600.29 $1,442.51 $190,734.33
Feb,2015 $3,042.80 $1,612.29 $1,430.51 $189,122.04
Year Totals $36,513.60 $18,574.69 $17,938.91 $189,122.04



Year 9
Payments Principal Interest Balance
Mar,2015 $3,042.80 $1,624.38 $1,418.42 $187,497.66
Apr,2015 $3,042.80 $1,636.57 $1,406.23 $185,861.09
May,2015 $3,042.80 $1,648.84 $1,393.96 $184,212.25
Jun,2015 $3,042.80 $1,661.21 $1,381.59 $182,551.04
Jul,2015 $3,042.80 $1,673.67 $1,369.13 $180,877.37
Aug,2015 $3,042.80 $1,686.22 $1,356.58 $179,191.15
Sep,2015 $3,042.80 $1,698.87 $1,343.93 $177,492.28
Oct,2015 $3,042.80 $1,711.61 $1,331.19 $175,780.67
Nov,2015 $3,042.80 $1,724.44 $1,318.36 $174,056.23
Dec,2015 $3,042.80 $1,737.38 $1,305.42 $172,318.85
Jan,2016 $3,042.80 $1,750.41 $1,292.39 $170,568.44
Feb,2016 $3,042.80 $1,763.54 $1,279.26 $168,804.90
Year Totals $36,513.60 $20,317.14 $16,196.46 $168,804.90



Year 10
Payments Principal Interest Balance
Mar,2016 $3,042.80 $1,776.76 $1,266.04 $167,028.14
Apr,2016 $3,042.80 $1,790.09 $1,252.71 $165,238.05
May,2016 $3,042.80 $1,803.51 $1,239.29 $163,434.54
Jun,2016 $3,042.80 $1,817.04 $1,225.76 $161,617.50
Jul,2016 $3,042.80 $1,830.67 $1,212.13 $159,786.83
Aug,2016 $3,042.80 $1,844.40 $1,198.40 $157,942.43
Sep,2016 $3,042.80 $1,858.23 $1,184.57 $156,084.20
Oct,2016 $3,042.80 $1,872.17 $1,170.63 $154,212.03
Nov,2016 $3,042.80 $1,886.21 $1,156.59 $152,325.82
Dec,2016 $3,042.80 $1,900.36 $1,142.44 $150,425.46
Jan,2017 $3,042.80 $1,914.61 $1,128.19 $148,510.85
Feb,2017 $3,042.80 $1,928.97 $1,113.83 $146,581.88
Year Totals $36,513.60 $22,223.02 $14,290.58 $146,581.88



Year 11
Payments Principal Interest Balance
Mar,2017 $3,042.80 $1,943.44 $1,099.36 $144,638.44
Apr,2017 $3,042.80 $1,958.01 $1,084.79 $142,680.43
May,2017 $3,042.80 $1,972.70 $1,070.10 $140,707.73
Jun,2017 $3,042.80 $1,987.49 $1,055.31 $138,720.24
Jul,2017 $3,042.80 $2,002.40 $1,040.40 $136,717.84
Aug,2017 $3,042.80 $2,017.42 $1,025.38 $134,700.42
Sep,2017 $3,042.80 $2,032.55 $1,010.25 $132,667.87
Oct,2017 $3,042.80 $2,047.79 $995.01 $130,620.08
Nov,2017 $3,042.80 $2,063.15 $979.65 $128,556.93
Dec,2017 $3,042.80 $2,078.62 $964.18 $126,478.31
Jan,2018 $3,042.80 $2,094.21 $948.59 $124,384.10
Feb,2018 $3,042.80 $2,109.92 $932.88 $122,274.18
Year Totals $36,513.60 $24,307.70 $12,205.90 $122,274.18



Year 12
Payments Principal Interest Balance
Mar,2018 $3,042.80 $2,125.74 $917.06 $120,148.44
Apr,2018 $3,042.80 $2,141.69 $901.11 $118,006.75
May,2018 $3,042.80 $2,157.75 $885.05 $115,849.00
Jun,2018 $3,042.80 $2,173.93 $868.87 $113,675.07
Jul,2018 $3,042.80 $2,190.24 $852.56 $111,484.83
Aug,2018 $3,042.80 $2,206.66 $836.14 $109,278.17
Sep,2018 $3,042.80 $2,223.21 $819.59 $107,054.96
Oct,2018 $3,042.80 $2,239.89 $802.91 $104,815.07
Nov,2018 $3,042.80 $2,256.69 $786.11 $102,558.38
Dec,2018 $3,042.80 $2,273.61 $769.19 $100,284.77
Jan,2019 $3,042.80 $2,290.66 $752.14 $97,994.11
Feb,2019 $3,042.80 $2,307.84 $734.96 $95,686.27
Year Totals $36,513.60 $26,587.91 $9,925.69 $95,686.27



Year 13
Payments Principal Interest Balance
Mar,2019 $3,042.80 $2,325.15 $717.65 $93,361.12
Apr,2019 $3,042.80 $2,342.59 $700.21 $91,018.53
May,2019 $3,042.80 $2,360.16 $682.64 $88,658.37
Jun,2019 $3,042.80 $2,377.86 $664.94 $86,280.51
Jul,2019 $3,042.80 $2,395.70 $647.10 $83,884.81
Aug,2019 $3,042.80 $2,413.66 $629.14 $81,471.15
Sep,2019 $3,042.80 $2,431.77 $611.03 $79,039.38
Oct,2019 $3,042.80 $2,450.00 $592.80 $76,589.38
Nov,2019 $3,042.80 $2,468.38 $574.42 $74,121.00
Dec,2019 $3,042.80 $2,486.89 $555.91 $71,634.11
Jan,2020 $3,042.80 $2,505.54 $537.26 $69,128.57
Feb,2020 $3,042.80 $2,524.34 $518.46 $66,604.23
Year Totals $36,513.60 $29,082.04 $7,431.56 $66,604.23



Year 14
Payments Principal Interest Balance
Mar,2020 $3,042.80 $2,543.27 $499.53 $64,060.96
Apr,2020 $3,042.80 $2,562.34 $480.46 $61,498.62
May,2020 $3,042.80 $2,581.56 $461.24 $58,917.06
Jun,2020 $3,042.80 $2,600.92 $441.88 $56,316.14
Jul,2020 $3,042.80 $2,620.43 $422.37 $53,695.71
Aug,2020 $3,042.80 $2,640.08 $402.72 $51,055.63
Sep,2020 $3,042.80 $2,659.88 $382.92 $48,395.75
Oct,2020 $3,042.80 $2,679.83 $362.97 $45,715.92
Nov,2020 $3,042.80 $2,699.93 $342.87 $43,015.99
Dec,2020 $3,042.80 $2,720.18 $322.62 $40,295.81
Jan,2021 $3,042.80 $2,740.58 $302.22 $37,555.23
Feb,2021 $3,042.80 $2,761.14 $281.66 $34,794.09
Year Totals $36,513.60 $31,810.14 $4,703.46 $34,794.09



Year 15
Payments Principal Interest Balance
Mar,2021 $3,042.80 $2,781.84 $260.96 $32,012.25
Apr,2021 $3,042.80 $2,802.71 $240.09 $29,209.54
May,2021 $3,042.80 $2,823.73 $219.07 $26,385.81
Jun,2021 $3,042.80 $2,844.91 $197.89 $23,540.90
Jul,2021 $3,042.80 $2,866.24 $176.56 $20,674.66
Aug,2021 $3,042.80 $2,887.74 $155.06 $17,786.92
Sep,2021 $3,042.80 $2,909.40 $133.40 $14,877.52
Oct,2021 $3,042.80 $2,931.22 $111.58 $11,946.30
Nov,2021 $3,042.80 $2,953.20 $89.60 $8,993.10
Dec,2021 $3,042.80 $2,975.35 $67.45 $6,017.75
Jan,2022 $3,042.80 $2,997.67 $45.13 $3,020.08
Feb,2022 $3,042.73 $3,020.08 $22.65 $0.00
Prepayments $0.00 $0.00 $0.00 $0.00
Year Totals $36,513.53 $34,794.09 $1,719.44 $0.00



LOAN PAYMENT SUMMARY
Years Payments Principal Interest Balance
15 $547,703.93 $300,000.00 $247,703.93 $0.00

that's very true and sad part !!!!

 

[DDS NO 1]

too bad , i think all of us have to buy and win lottery ticket or somehow get chance to go for deal nodeal.
more sad part is for ppl like us who have to get f1 visa for these colleges have to show this amount in our bank account before getting the loan sanctioned . i am not sure about this ,but if yes then great got to really go to go for gambling to make some money