Student Loan Repayment Assistance Budget Calculator

75

total participants

$86.67

average monthly contribution per participant

$6,500

total monthly contribution

$6,500

annually tax deductible*

tenure
role
Between 0 - 3 months
Between 4 - 6 months
Between 7 - 12 months
13+ months
entry level

Technician

participants

$

monthly

participants

$

monthly

participants

$

monthly

participants

$

monthly

Analyst level

analyst

participants

$

monthly

participants

$

monthly

participants

$

monthly

participants

$

monthly

* student loan repayment assistance falls under educational assistance provisions of the tax code. see here for summary or here for irs documentation. Always consult your tax professional to confirm. These number based on estimates.

Instructions:

  1. This calculator gives you an estimate of your monthly cost of student loan repayment assistance contributions; both total and per person.
  2. The result to do include fees payable to Dolr. To include fees simply add 5% to the total monthly cost by multiplying the number you see above by 1.05 in your calculator of choice. You can do the same for the average monthly cost per participant.
  3. Fees only apply to those of your employees who would participate in your student loan repayment assistance program.
  4. The calculator help you design your program based on role [entry level or analyst level] and tenue [new or 0 - 3 months, 4 - 6 months, 7 - 12 months, and 13+ months].
  5. Use the up/down arrows or type in values for the number of participants in each of these buckets as well as a monthly contribution amount you'd like to send to each of their loans e.g. 5 people getting $25/mo each.
  6. Tallying the rows and columns gives you an idea of spend by role or tenure. Both the row sums and column sums add up to your total contributions per month across the entire team.
  7. The average monthly per participant cost is calculated using a simple average: for each bucket multiply the number of participants by the amount and sum the results across all buckets then divide by total participants.
  8. Student loan repayment assistance perks are tax deductible up to $5,250 per person per year -- consult with your accountant or tax professional to determine how to use this deduction.
  9. The esitmates above are based on a snapshot in time. Your monthly costs will vary as team members move between the tenure buckets.
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