HeatherC
Alas...these people I live with ...
- Joined
- May 23, 2003
Just curious....what do you consider a lot of student debt?
We have three kids...one graduating college in May without any loans(commuted), one working (no college...yet...still hopeful) and youngest applying to colleges now who wants to live away.
We are comfortable with her taking the $5500 she is allowed in her name a year. So total would be $22,000. We would also have her start paying them back immediately...even $50 a month and most likely would also make extra payments towards them to knock the total down before graduation.
Anything more than that, we would not be comfortable with and would consider a lot. What are your thoughts on this topic.
I realize the major and career choice also comes into play. A future doctor taking out $100,000 in loans will probably be able to pay it back more readily than an elementary school teacher that took out the same amount.
But in general what do you consider a lot?
We have three kids...one graduating college in May without any loans(commuted), one working (no college...yet...still hopeful) and youngest applying to colleges now who wants to live away.
We are comfortable with her taking the $5500 she is allowed in her name a year. So total would be $22,000. We would also have her start paying them back immediately...even $50 a month and most likely would also make extra payments towards them to knock the total down before graduation.
Anything more than that, we would not be comfortable with and would consider a lot. What are your thoughts on this topic.
I realize the major and career choice also comes into play. A future doctor taking out $100,000 in loans will probably be able to pay it back more readily than an elementary school teacher that took out the same amount.
But in general what do you consider a lot?