Student Loan Grace Period Budget Coach

Bridge the gap between graduation and repayment by projecting how much interest builds during the grace period, whether your income covers essential spending, and how much to set aside to hit an emergency buffer before the first payment posts.

After-tax income you expect to receive each month during the grace period.
Rent, utilities, groceries, insurance, and other must-pay bills.
Combined federal and private balance that will accrue interest during the grace period.
Defaults to 6.5% when blank; enter 0% for subsidized balances that pause interest.
Defaults to 6 months for federal loans; update if your servicer offers a different window.
Defaults to $1,200 when left blank (roughly one month of essential expenses).
Defaults to 25 basis points (0.25%). Enter 0 if no autopay discount is available.

Calculations provide budgeting guidance and do not replace personalized advice from your loan servicer or financial planner.

Examples

  • Income $3,600, expenses $2,150, balance $42,000, rate 6.5%, grace 6 months, buffer $1,200, autopay 25 bp ⇒ Grace-period interest accrues at $227.50 per month, totaling $1,365.00 over 6.0 months. Covering interest and a $1,200.00 buffer requires saving $2,565.00 before payments resume. Your budget shows a surplus of $1,222.50 each month after expenses and interest. Set autopay about 5.0 months before payments resume to capture roughly $8.75 in monthly rate discounts once repayment starts.
  • Income $2,800, expenses $2,250, balance $35,000, rate 7.4%, grace 9 months, buffer blank, autopay 0 bp ⇒ Grace-period interest accrues at $215.83 per month, totaling $1,942.50 over 9.0 months. Covering interest and a $1,200.00 buffer requires saving $3,142.50 before payments resume. Your budget shows a surplus of $334.17 each month after expenses and interest. No autopay discount is available, so plan savings without that boost.

FAQ

What if my loans are subsidized and do not accrue interest?

Enter 0% for the interest rate. Monthly interest and accrual totals will drop to $0, and your savings goal will reflect only the emergency buffer.

Can I include discretionary spending?

Add discretionary categories to the essential expense input when you want to stress-test lifestyle choices. For a lean scenario, stick to essentials and treat remaining surplus as extra savings capacity.

How should I plan for different repayment plans?

Use the surplus output to gauge how much cash flow is available for standard, graduated, or income-driven payments. Pair this coach with a repayment calculator to map specific plan amounts.

Additional Information

  • Grace-period interest uses simple interest on the outstanding balance; capitalization rules vary by loan type when repayment begins.
  • Emergency buffer defaults to $1,200 (roughly one month of essentials), but adjust to match your risk tolerance.
  • Autopay discounts are converted from basis points into a monthly savings estimate so you can time enrollment before repayment starts.

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