Fed Financial
How much can I take out in student loans?
I'm currently working on my Bachelor's of Science degree, and I'm just under halfway there. Unfortunately, my parents have both passed away, so I rely entirely on grants and student loans to foot my tuition bill and living expenses. I also work part time, but it's not enough to cover living expenses alone while going to school. My expected annual income after graduation is in the 38-40K range. I've already taken out over 10K in loans, and like I said, I still have probably another 3 years at a major university to go. How much can I take out in student loans and still be able to pay it all back?
Public Comments
- Whatever you get approved for
- the best way is to go to the bank they will help you in how much you can get and how/when you have to pay back... some banks let you pay back when you get you first permanent job and others only let u pay the interest and in 10 years time the large amount of money... best of luck..
- LOL>>>>I'm sitting at about $100,000 right now myself...I guess it depends on how fast you want to pay it off. Most have plans where you can pay a couple hundred ffor the first 5 years..then (assuming you are established in your career) raise the payments. Call your loan provider they are better equipped to specifically answer this question. Good Luck!
- The stafford loan will cover up to $5500 per semester.
- it depends on your state, i think you try to cut back a little, because 10k and 3years more is going be a lot to repay on those super low rates :)
- Please try not to take out anymore loans. They are b!tch to pay back. Try to apply for scholarships. Sorry about your parents.
