Apr
07

How expensive are student loans?

By
cheap loans

I will owe about $25,000 when its all said and done. Are student loans generally cheap, or do they get into like the $300/mon. range. Someone said there always pretty cheap… What are your experiences?
Is cheap like 100/Mon…or in that range… I know its hard to say w/ different situations…

Sell House Quick
Categories : cheap loan

1 Comments

1

I just graduated and have a bit over 20k in loans.
they give you a couple different options
my regular payment plan would have me paying just under 200/month for 10 years to pay it back.
There is also a graduated plan where the interest rate/monthly payments are lower at first, and get higher at the end. Overall if you took the whole 10 years to pay back the loans this would be more expensive. If you plan to pay em back within 5 this saves you money.
The first two years are as low 125/month. it goes up over time to be the same as the regular plan after 5 years, and 300/month towards the end.

So ya, there are cheapish options out there. The graduated plan is great if you think you will earn a lot more after 5 years.

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