How much can I take out in student loans?
I color outside the lines asked:
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?
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?
Tags: 3 Years, Major University, Student Loans
May 1st, 2009 at 5:48 am
Whatever you get approved for
May 3rd, 2009 at 4:05 pm
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..
May 4th, 2009 at 4:09 pm
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!
May 5th, 2009 at 2:08 pm
The stafford loan will cover up to $5500 per semester.
May 8th, 2009 at 11:48 am
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
May 8th, 2009 at 7:53 pm
Please try not to take out anymore loans. They are b!tch to pay back. Try to apply for scholarships. Sorry about your parents.