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This level payment calculator is an integrated saving and borrowing calculator that focuses on what really matters to most people: how much they'll pay per month. Think of it as a layaway plan for college that starts several years before matriculation and continues for several years after graduation. In other words, the same monthly payment is used to build savings before college and to repay the debt after college. It yields a complete financial plan for college.

The calculator computes a single flat monthly payment for both saving and borrowing based on the anticipated college costs, the number of years of savings before matriculation, the number of years in repayment on the loans, the interest rate on savings and the interest rate on debt.

See also the following related calculators:

• Level Payment Calculator (Percent of Income)
• Inverted Level Payment Calculator (Amount)
• Inverted Level Payment Calculator (Percent of Income)