Navigate your student-loan maze with this Philly-made calculator

From his home office in Fishtown, Temple University grad Mason Gallik, 23, is hoping his college debt calculator can help others from making bad choices.

“It’s about being realistic about your decisions,” said Gallik, the founder of LoanMajor. “Sometimes it’s smart to look at college from a financial side and not just an emotional one.”

That’s why Gallik, who says he’s the go-to among friends for all things Microsoft Excel, built a series of tools to help inform those seeking college loans make the right choices. The website also helps orient students with college selection, debt refinancing, federal loans and interest rates.

“My advice to anyone seeking to pay for college through a loan is: Err on the side of caution when picking schools,” said Gallik. “Make sure the college has grads that are paying their loans off and make sure their starting salaries are high enough.”

Currently, the company’s source of income is through affiliate links with loan marketplace Credible. For every visitor that LoanMajor leads to Credible, they get a fee. Another source of revenue Gallik hopes to set up is through affiliate links to credit card companies and banks.

Doesn’t Gallik feel this actually exposes credit-seekers to predatory, higher-interest debt?

“No, because the way the calculator work is that private loans are taken last when there are no other ways to pay,” Gallik said. “Plus, all companies on Credible are reputable.”