Student Debt Reduction Calculator This page contains a calculator to help you calculate your student debt reduction.
The calculator uses the following formula: =(total student loan balance – loan forgiveness) / (total student debt) To calculate your debt reduction, use the calculator below: Enter the number of years you plan to graduate in and the amount of your debt.
Then enter the remaining balance in each of the three fields: Total debt, debt forgiveness and remaining balance.
For each of these, enter the amount owed at the time of graduation.
For example, if you plan on graduating in 2020, enter 20 in the Total debt field.
If you plan upon graduating in 2022, enter 0 in the debt forgiveness field.
Total debt: $20.00 Total debt forgiven: $0.00 Balance forgiven: -$0.10