Grad School Calculator

One of the best ways to invest in yourself and increase your earning potential is to get another degree. On average, holders of postgraduate degrees earn 23% to 55% more than those with bachelor’s degrees.

However, tuition at graduate schools has been skyrocketing in recent years at the same time that funding options have been drying up. While graduate school still can be a huge boost to your career and earning potential, many factors will determine whether it will actually be a financial boon to you, personally. So, consider it carefully before taking the plunge.

You need to weigh:

• Why you want to go
• How you’ll pay for it
• Hidden costs such as interest on your loans and the amount you won’t be contributing to retirement while you are enrolled
• Your post-school earning potential
• And the return graduate school will give you on your investment

Use the calculator below to see whether it’s worth it.

Is Grad School Worth It?

Your Dates

Age You Expect To Enter
Grad School Anticipated Age at Retirement

Click here to find your retirement age.

Current Earnings

Current Salary Tax Rate

To find your exact tax rate, refer to this table provided by the IRS:

Annual Salary Increase

Cost of Graduate School

Number of Years of
Graduate Study Annual Graduate
Program Expenses

Most schools provide an estimated annual student budget on their Financial Aid webpages.

(includes tuition, room and board,
other living expenses)

Annual Income

(includes salary if part-time study,
internship income, other)

Annual Scholarships/ Grants/
Tuition Reimbursement

Paying for Graduate School

Total Loans Interest Rate on Loans

This is the percentage rate provided  by the 
U.S. Department of Education's Federal Student Aid 
Office.

(includes tuition, room and board,
other living expenses)

Loan Repayment
Period (in years)

Click here for more information on loan repayment plans.

Earnings After Graduate School

Expected Salary
Post-Graduation Tax Rate

To find your exact tax rate, refer to this table provided by the IRS:

(includes tuition, room and board,
other living expenses)

Expected Annual
Salary Increase Expected One-Time
Signing Bonus

$---

Lifetime After-Tax Earnings
Without Grad School

$---

Lifetime After-Tax Earnings
With Grad School

You could make

$---

more (in your lifetime) by
going to grad school

Based on your total loan amount, YOUR MINIMUM MONTHLY LOAN PAYMENTS WILL BE approximately

$---

We suggest that 15% or less of your after-tax salary go toward repaying all debts, including those for undergraduate student loans, credit cards, car loans, etc. But depending on your personal circumstances, this percent could be higher or lower.

Play around with your monthly budget
Play around with your monthly budget to see if you can swing the additional cost.