Weigh acceptances

Two letters through the federal caps and repayment: debt at graduation, then payments through residency and the first attending years.

Runs in your browserNot legal or financial advice

Example valuesHow far apart are the letters?

$55,682

Private school carries $55,682 more debt at graduation than Public school, in state, and about $56,759 more in payments by year 5 as an attending.

Public school, in state: $286,935
Private school: $342,617

Example valuesRun your own at joinandwise.com/decide/schoolsFederal loan rules and your letterschecked October 21, 2026amounts entered are masked

Example: a public in-state letter against a private letter and a private letter with a scholarship, on RAP with PSLF at a qualifying employer.

Example valuesMy numbers

Inputs and assumptionsYour acceptances and the repayment scenarioEdit values

Repayment scenario

The federal caps, rate, fee and grace come from the loan rules (checked October 21, 2026). The private rate, income, repayment timing and PSLF employer are assumptions you set.

StateResidency yearsAGI during residency ($)AGI as an attending ($)

Annual raise (%)DependentsPSLF scenarioPrivate loan rate (%)Private repayment term (months)When private payments begin

Example letters:

Letter 1

Fill the four cost-of-attendance rows from the COA table

School in the tableGrow each later year by (%)

YearCost of attendance ($)Gift aid ($)Family & savings ($)

Year 1

Year 2

Year 3

Year 4

Prior federal balance ($)Prior private balance ($)

What this letter projects

Debt at graduation: $286,935
Federal / private at graduation: $246,344 / $40,591
Debt at the end of residency (RAP): $308,064
RAP payment as an attending: $2,500
Tiered payment as an attending: $1,988
Private payment: $690
Paid by year 5 as an attending (RAP): $177,744
Forgiven (PSLF, RAP): $170,524

Questions for this school's financial aid office

What is the full cost of attendance for each year, and how much of it does institutional aid cover?
Does the scholarship renew all four years, and what are the conditions for renewal?
Does the school set a lower federal borrowing limit than the law allows?
What happens to the aid package if the student withdraws, repeats a year, or the family contribution changes?

Letter 2

Fill the four cost-of-attendance rows from the COA table

School in the tableGrow each later year by (%)

YearCost of attendance ($)Gift aid ($)Family & savings ($)

Year 1

Year 2

Year 3

Year 4

Prior federal balance ($)Prior private balance ($)

What this letter projects

Debt at graduation: $342,617
Federal / private at graduation: $246,344 / $96,273
Debt at the end of residency (RAP): $381,171
RAP payment as an attending: $2,500
Tiered payment as an attending: $1,988
Private payment: $1,636
Paid by year 5 as an attending (RAP): $234,503
Forgiven (PSLF, RAP): $170,524

Questions for this school's financial aid office

What is the full cost of attendance for each year, and how much of it does institutional aid cover?
Does the scholarship renew all four years, and what are the conditions for renewal?
Does the school set a lower federal borrowing limit than the law allows?
What happens to the aid package if the student withdraws, repeats a year, or the family contribution changes?

Letter 3

Fill the four cost-of-attendance rows from the COA table

School in the tableGrow each later year by (%)

YearCost of attendance ($)Gift aid ($)Family & savings ($)

Year 1

Year 2

Year 3

Year 4

Prior federal balance ($)Prior private balance ($)

What this letter projects

Debt at graduation: $317,394
Federal / private at graduation: $246,344 / $71,050
Debt at the end of residency (RAP): $348,055
RAP payment as an attending: $2,500
Tiered payment as an attending: $1,988
Private payment: $1,207
Paid by year 5 as an attending (RAP): $208,793
Forgiven (PSLF, RAP): $170,524

Questions for this school's financial aid office

What is the full cost of attendance for each year, and how much of it does institutional aid cover?
Does the scholarship renew all four years, and what are the conditions for renewal?
Does the school set a lower federal borrowing limit than the law allows?
What happens to the aid package if the student withdraws, repeats a year, or the family contribution changes?

The letters side by side

Row	Letter 1	Letter 2	Letter 3
Debt at graduation	$286,935	$342,617	$317,394
Debt at the end of residency	$308,064	$381,171	$348,055
RAP payment as an attending	$2,500	$2,500	$2,500
Tiered payment as an attending	$1,988	$1,988	$1,988
Private payment	$690	$1,636	$1,207
Paid by year 5 as an attending (RAP)	$177,744	$234,503	$208,793
Forgiven (PSLF, RAP)	$170,524	$170,524	$170,524

RAP and Tiered Standard are the only plans open once a Direct Loan is made on or after July 1, 2026; IBR and the 10-year Standard are not.

What would change the answer

The extra gift aid per year on the higher letter that brings it to the lowest letter's debt at graduation — the number to take to a financial aid office.

What would change this answerAn extra $11,038 per year in gift aid on Private school brings it to the lowest letter's debt at graduation; below that it stays higher (tested $0–$110,000 per year).

Gift aid that brings the higher letter to the lowest$11,038 per yearExtra gift aid entered$0 per year

The next question to ask

What the arithmetic assumes

Four-year cost of attendance; each year's gift aid and family contribution reduce that year's gap. Prior federal and private balances ride with the letter.
Federal Direct Unsubsidized fills the gap up to $50,000 a year and $200,000 in total (Public Law 119-21), within the $257,500 lifetime cap, at the 2026-27 graduate rate with the origination fee added so the net proceeds cover the gap.
Unpaid interest accrues from each year's disbursement to graduation and capitalizes there; no payments are made during school, and the balance grows through the six-month federal grace before repayment.
After grace, the federal portion repays on RAP or Tiered Standard — the only plans open once a Direct Loan is made on or after July 1, 2026 — and the private portion amortizes at the entered rate over the entered term, from graduation or from the attending years as the scenario says.
Every federal payment is on time and in full; PSLF counts every month at a qualifying employer, as entered.

Every figure above is one of: Your input · Statute · Benchmark · Model estimate.

Arithmetic on the numbers you entered: change an input and the answer changes. Not financial, legal or tax advice.

Example valuesjoinandwise.com/decide/schoolsFederal loan rules and your letterschecked October 21, 2026amounts entered are masked

Decision record

Save these inputs, the result and your next step with a review date. Stored only in this browser.

All your records

Federal caps, plans and rates: loan rules. Taking the first loans: entering medical school. Repayment on your own numbers: your student loans.