4 ms·
As a few others have expressed similar, I can attest to the sentiments in the article. I may be one of the more informed with my loans, and this is my understa
by pyromine 11y ago
As a few others have expressed similar, I can attest to the sentiments in the article.
I may be one of the more informed with my loans, and this is my understanding of the matter.
My freshmen year I incurred ~$26,000 in commercial loans, with $4500 in federal.
This year I got a residency reassignment and now have only $5500 in federal loans to pay for the whole year.
So I may now the approximate amounts of my loans, and I just summed them and found out I'm about $36,000 in debt. Truthfully that's the first time I've ever seen that figure, and damn it's scary because I have absolutely zero knowledge of how I'm expected to repay that. What are my interest rates, how long do I have to repay, how many months after I graduate am I expected to start paying that down?
The issue is that due to the inflation in college costs this is the only way many of us can afford college, and I'd have to say I'm lucky because I am supported for my living costs by my parents. Otherwise I would be in significantly more debt.
- chiph 11y ago> What are my interest rates, how long do I have to repay, how many months after I graduate am I expected to start paying that down? All that will be in the contracts you signed. It'd probably be worthwhile to see if you can audit or sit-in on a contracts class with the business college, as the info will be very useful in your future, like when you buy a car or a house.