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Welcome to the Debt/Salary wizard. The Wizard is an interactive calculator which
helps students and parents determine:
• how much salary is needed to make the payments on current and future student loan debt and
• how much can be borrowed based on future expected earnings.
If you enter the salary you anticipate earning upon graduation, the calculator will
calculate the maximum amount of student loan debt you should borrow. If you enter the
current amount borrowed in student loans and the amount you anticipate borrowing throughout
your college career, the calculator will return the salary required to make payments on this debt.
Note: These calculations are based on the financial aid industry recommendation that
student loan debt not exceed 8 percent of your gross earnings. The calculations do not
take into consideration a high amount of credit card or other debt.
If you are unsure about the salary you may be able to expect upon graduation, you may
be able to find an estimated amount using www.salary.com.
Note: This is only an estimated amount and may vary based upon the size
and location of the company, as well as the need for such a position and your qualifications.
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