Get Debt To Income Ratio Form - Xavier University Of Louisiana

The Debt To Income Ratio Form is essential for assessing your ability to manage loan payments under challenging circumstances. This guide will provide you with step-by-step instructions on how to accurately complete the form online, ensuring all necessary information is captured effectively.

Follow the steps to complete the Debt To Income Ratio Form with ease.

1. Click ‘Get Form’ button to obtain the form and open it in the editor.
2. Begin by entering the student’s name and Xavier ID in the designated fields at the top of the form.
3. Next, fill in your parent or guardian's name and the date on which you are completing the form.
4. Proceed to the ‘Monthly Income’ section. Here, input the monthly gross salary or pay for both the father/stepfather and mother/stepmother where indicated.
5. Include any additional income such as monthly alimony or child support. List other forms of monthly income as needed.
6. Calculate your total monthly income by adding all values entered above and input this into the ‘TOTAL INCOME’ field.
7. Move to the ‘Fixed Monthly Debts’ section. Enter your monthly mortgage or rent, auto loan payments, minimum credit card payments, and minimum home equity line payments.
8. Continue filling in your monthly alimony and child support payments, as well as average monthly utilities such as water, electricity, and gas.
9. List any other monthly debts you may have and then calculate your total recurring monthly debt, entering it in the ‘TOTAL RECURRING MONTHLY DEBT’ field.
10. For the ‘DEBT TO INCOME RATIO’ section, divide your total debt by your total income to determine this ratio.
11. Leave the ‘For Office Use Only’ section blank as this is reserved for the financial aid counselor’s use.
12. Finally, review the completed form for accuracy, then save your changes, download, print, or share the form as needed for submission.

Complete your Debt To Income Ratio Form online today to ensure your financial needs are met.