Just checking out my loans for college. I am a second year student but only have 3 more semsters left. My loan amount right now is 20,000 and plan to take out no more than 10,000, hopfully less, to finish off next year. Is this an average amount, 30,000? I plan on living very inexpensivly so I can afford making above normal payments to try and knock out interst...just wanting to know if anyone has or is going through college and has some advice
2007-12-03 03:23:52 · 3 answers · asked by sammih716 2 in Education & Reference ➔ Financial Aid
The rule of thumb is that your total loan amount should not exceed your projected salary that you would get after graduation. In other words, if you are making 30,000 a year, having 30,000 in student loans is doable.
However, if you are only making 30,000 with 60,000 in loans, that would be a problem.
2007-12-03 04:40:54 · answer #1 · answered by SMS 5 · 0⤊ 0⤋
When I seen the first part of your question, I thought probably around $30,000 +/-
Now I see what you have written extra, so, we seem to be in the same ball park.
2007-12-03 03:33:44 · answer #2 · answered by Snaglefritz 7 · 0⤊ 0⤋
I think it would also depend on the school you attend cause some schools tuition is more than others. I graduate in December and my loans will be around 30-32,000.
2007-12-03 03:36:12 · answer #3 · answered by J B 2 · 0⤊ 0⤋