I graduated from my undergrad. school with $40,985.99 in debt (private liberal arts). I'm currently working on my master's degree in library science and estimate that, when all is said and done, I'll owe back $26,325.00 for said degree. My husband, on the other hand, owes around $37,649.61 for his undergrad. degree, making our combined total a whopping $104,960.60! We're currently paying back all of the undergrad loans even though I'm in grad. school and only working very part-time (monthly combined payments are currently $974.13). We pay this money back comfortably, however, and only have around $2,000-something worth of credit card debt on top of typical monthly expenses and car payments, etc. My husband is fortunate enough to make around $93,000 a year, while I'm unsure of what my earning prospects will be at a library, but hopefully I'll be in the $35,000 - $40,000 (?) range after a few years in the field.
Is this debt too much to our income? Are these figures normal for two?
2007-11-26
02:52:39
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5 answers
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asked by
Annie
1
in
Personal Finance