I attended a community college for 3 years. Two years to get the degree I originally went into college for (Computer Science), and an extra year for a completely different major, Electrical Engineering, which on its own it usually takes five years to complete for most students.
This is my fifth year in school, the second at a public university. And as of now I'm looking into at least two more years till I complete my engineering degree. However, my debt as of now is in the 20-25 grand range. But, I have maxed out all my government loans and I'm looking into private loans to cover the cost for the next two years.
My question then is what is a reasonable amount of debt for a college student to get a bachelors degree? Is $50,000 too much money for a recently college graduate?
2007-02-13 07:34:50 · 3 answers · asked by thunderstorm 2 in Education & Reference ➔ Higher Education (University +)
It is definitely not true that most students owe $64,000. The average amount of debt is more like $15,000, or $20,000 in expensive schools.
$50,000 would be quite a lot, but it depends on what your major is. If you are doing well in computer science and feel very confident of getting a good job, then I think $50K would be all right.
How are the recent grads from your department doing? Do they have good jobs that pay well. If they are all out there making $75K then I think you would be OK, but if they are unemployed, then you have a dilemma. The interest on $50,000 would be roughly $500 - $700 a month.... How could you pay it unless you had a good job..
Go carefully!. Good luck!
2007-02-13 07:47:52 · answer #1 · answered by matt 7 · 2⤊ 0⤋
style of sounding like a drama queen do no longer you think of? purely save looking forward. There are constantly techniques in case you seem complicated sufficient. in case you have a education that expenses $90K you will desire to be waiting to do extra acceptable than $30K a twelve months. Are you valuable you have explored all employment avenues? in case you may no longer detect a job acceptable on your education the place you reside try observing different states that would have a scarcity for the sector you're qualified. you additionally can seem complicated at your funds. Trim the fat anyplace achieveable. I actual have been detrimental for a protracted time. I discovered the thank you to feed myself for $15 a week and that's ingesting one meal familiar. I walk to the place I would desire to circulate on each occasion achieveable despite if it ability a pair of miles sometimes. If mandatory do away with the automobile and use public transportation. That good there would save a ton of money purely in insurance rates on my own. you would be shocked how less costly you may stay in the adventure that your lower back is to the wall yet you have the determination to no longer supply in or supply up. detect a place to stay the place it would not require money. A difficulty like room and board in substitute for paintings around the homestead or different comparable circumstances. in case you may no longer discover such a residing difficulty then placed your guy or woman commercial interior the papers for such a difficulty. in case you're no longer already working 2 jobs, then get a 2nd one. working 7 days a week is a small cost to pay if it gets you out of your money woes. you additionally can initiate being extra to blame approximately incurring debt. don't be taking on money owed with out thinking related to the style you would be waiting to pay them lower back decrease than a worse case difficulty. in case you're making 30K AFTER taxes there is not any reason you mustn't be waiting to arise with the money for $one thousand+ month-to-month money besides residing fees. a lot of people have homestead money larger than that and are doing it. So supply up the drama. in case you truly ARE suicidal you will desire to be spending your spare time in a help team truly of posting on yahoo. besides, why are you procuring cyber web service in case you're so desperately in debt? you may no longer eat cyber web service and you will't placed it interior the gas tank or warmth your place with it. Like I reported, trim the fat.
2016-09-29 01:48:03 · answer #2 · answered by ? 4 · 0⤊ 0⤋
$64,000 is the usual minimum. You're fine.
2007-02-13 07:42:10 · answer #3 · answered by Brian 1 · 0⤊ 3⤋