The number of years it would take to pay back a loan to fund a 4 year undergraduate degree at Cornell was calculated by the following formula: ** Annual Payment = (Annual Rate * Principal Loan Amount)/1 - (1+Annual Rate)^-Number of Years. ** This formula was used to solve for number of years.

The interest rate of 4.29% was selected based on most recent student loan interest rates from: https://studentaid.ed.gov.

Please note there are many ways to calculate the number of years and this is the one we selected. The reason our slider starts at 20% is the fact that a monthly payment must be as much as if not more than the interest due in a month. For example, in 2001, Cornell Tuition was $99,400. To make an annual payment of 10% of the starting salary for a CALS graduate that year, the monthly amount would be $312.60 which is less than the monthly interest owed ($355.36).