Annual Income Required to Service Educational Loans

Annual Income Required to Service Education Loans
*For Ten Years at 6.8% Interest (Courtesy of Auburn Theological Seminary)

  Loan Principal  

  Minimum Income Required  
$10,000 $17,106
$20,000 $34,212
$30,000 $51,319
$40,000 $68,425
$50,000 $85,531


$70,000 $119,743


Average Annual Wages

Area: Michigan
Period: May 2013 

Occupation   Annual Mean Wage  
Substance Abuse and Behavioral Disorder Counselors $38,930

Educational Guidance School and Vocational Counselors

Marriage and Family Therapists $50,900
Mental Health Counselors $48,190
Rehabilitation Counselors $40,690
Counselors All Other $37,030
Clergy $42,240
Directors Religious Activities and Education $34,970
Religious Workers All Other $36,640

*Estimates do not include self-employed workers.
*Annual wages have been calculated by multiplying the hourly mean wage by 2080 hours; where an hourly mean wage is not published the annual wage has been directly calculated from the reported survey data.
SOC code: Standard Occupational Classification code - see
Data extracted on August 4, 2014.