how much debt is too in debt to graduate college with?
372854
It all depends on how much you earn once you graduate.  The recommended aggregate debt level is 5-10% of your income (post graduation).  The average* undergrad leaves school with $19,000 in student loan debt (for 4-year college students).\n\nThat said, I've seen secretaries manage to pay off $100,000 in student loan debt (estimated monthly payment: $600)... By the same token, plenty of wealthy doctors, lawyers, and celebrities have gone into default (i.e. the penalized for repeated non-payment) on less debt than that.  \n\nThe difference is not necessarily in your income but in how seriously you take the management of your finances.  If you borrow a lot in order to obtain the "degree of your dreams," it might be worth it for you.  Just be prepared to live within (or below) your means for a few years.  Don't be disheartened.  And remember that, in 2011, a $200 monthly payment may not look as difficult as it does in 2006 (because of inflation and because a lot can improve with your career/finances in 5 years).\n\n[*According to a study from 2004. (Loan limits haven't changed since then, but college costs have, so this average may have increased slightly).]
897958
Do you know that this is where schools fail us. If only they could explain/teach us about debt and what it can do to us then maybe we would understand how to excercise self control. \nI have spent 20 years in debt and am proud of the fact that i have paid it all of(last October) and am now debt free. BUT, and it is a big but, i want a new tv, maybe a 37 inch lcd hd ready one to hang on the wall and i have credit cards, overdraft facilities and no savings! What would you do, get credit .....NO, save money, learn that the only money that you can spend is money you have earnt or saved.\nPlease dont fall into the trap of debt/borrowing money etc ..it can kill you, if not literally then just in spirit and mind.\nBanks and lending organisations should be held more accountable if you ask me.
288201
Just take out the loans.  Debt is a wonderful motivator.
102899
Dear Bob, \nThe investment to finance your education will cost you $7500 per year.  When you graduate in 5 years, assuming you have deferred all loan payments, you will owe approximately $47,500.  This may seem like a lot of money now, but consider the improvement in your future earnings after you get your college degree.  If you begin working now at a salary of $19000, after 5 years of 3% annual raises, your salary would be about $22000.  The job you get out of college will pay at least $25000.  If we amortize your loan payments over 20 years at 8%, you will have to pay about $400 per month.  This may be a struggle at first, but you can expect bigger raises (5%) per year with a college degree.  After 3 years, your income will be almost $29000 if you go to college compared to $24000 if you start working now.  This is enough to completely cover the loan payments, especially when you consider that the interest payments on student loans are tax deductible.  Beyond the third year, your salary with a degree will continue to rise faster than if you skip college.  It makes sense not only from a financial perspective, but also in the fact that you are more likely to find more interesting and challenging work with better career advancement opportunities if you get your degree.  Good luck!
330967
Who is paying? Also, How commited are you to get the type of education you desire?\n\nBaby, College education is your future...not theirs....but search for a compromise...if they are paying the full load.
594583
no, it's not bad as long as you are responsible and pay your bills and your parents don't have a problem...If you haven't already finished college I would definately take advantage of that before you get married you want to be financially set before you start a family.
1180859
Yeah, sometimes. I'm 21, married, a dad, going to school and working full time. I have tons of debt piled up already b/c of student loans, but I'm studying to be an accountant, so I don't think I'll have a problem paying them back. Money, or the lack there of, is really the only thing that worries me. I hate being in debt though, so I think I'll manage.
533748
Yes, in fact there are, arguably, more loan options for graduate students than there are for undergrads.  Whether she is a master's student, a doctoral student, or a post-doc student, your wife could borrow...\n\n* A Federal Stafford Loan -- annual limits are $18,500 for most graduate programs (and even higher for health professions students).  Interest rates will be fixed at 6.8% for 06-07\n* A Federal Perkins Loan -- annual limits are $6,000 for graduate students ($4,000 for undergrads). Perkins rates are 5% fixed.\n* A Federal PLUS Loan -- these loans, formerly restricted to undergrads, are open now to graduate students. A student can borrow as much PLUS as it takes to cover his/her educational costs. PLUS rates will be 8.5% for 06-07, though many lenders are offering great interest rate incentives, bringing the PLUS rate down as low as 7%!
1130666
There is nothing to worry about. Your options are almost limitless. As long as you are prepared to work hard, you have nothing to worry about (except the cost of tuition and books).
825302
It's not that simple unfortunately. You seen how much we're in debt?
164080
The average student in 2004 graduated with about $19,000 in college loans.
948102
I know exactly how you feel! I am a college student in Connecticut, where the cost of living is very high. Although I didn't take out a loan (I work forty hours per week to pay my tuition and bills... ugh!) and I don't currently have any debt, it is pretty difficult to get by.\nMy advice is to just stay in school and successfully finish your degree, or else it will be a big waste of time for you to have gone through so much to accomplish so little! If you can find a job in your field after you graduate, it will be a lot easier to pay off your loan (depending on your major: example: medicine vs. journalism? Medicine definitely pays off!).\n You should pay attention to how you spend your money, however. Try to save as much as you can and even go as far as keeping a spending journal. Taking note of where every penny goes is a very reliable way of figuring out what you need and what you're wasting your money on. When you figure out how much money goes into 'splurging', you'll be surprised; put whatever extra money you have into a bank account or invest it into an IRA or something similar. Good luck! =)
601733
I believe it's somewhere between $30-40,000.  It depends if you live on campus, if you're undergraduate, graduate, etc.  So you better start looking for some financial aid or better yet, some scholarships.
987696
Any other current debts? Car/student loans? My guess would be between $60,000 - $70,000. It might be on the high end, but I like to live very comfortably. It also gives you the option of buying a new car if you don't already have one, or take a vacation.
557944
get as much financial aid as you can. financial aid is a guaranteed loan that you won't have to start paying off until you graduate and parts of it won't start to accrue interest until you're no longer in school.  the interest on them is generally much lower than normal school loans gotten directly from a bank.\n\neven if you get a full scholarship, it might even be worth it to take out as much financial aid as you can and simply invest it.  these loans are too good to turn down for the most part.\n\nthere's nothing wrong with having more than one loan out at a time. just make sure you keep track of them and pay on time when it's time to start paying them back.
720504
My friend is already 180K in debt to be a dentist.  I bet that your debt will be similar.
803586
Once your tuition and books are paid for, you should put the rest of the money away, in the bank for future use.  If you are unemployed, this money is what you are supposed to live on until next semester.  Maybe you could repay your mom the money she has paid for your books but you don't want to have to ask her for more money before the semester ends.  As a mom, I would prefer to let you keep the money in your own bank account and allow you to budget yourself so you don't have to ask her for more money when your funds run out.  Maybe she plans to take the money from you now, only to return it to you later when you ask for financial help.  Sounds like you need to communicate with your mom and let her know that you want to be financially responsible for your own money.  If you give her $200, she should be happy and know that she is helping you by helping you to become a responsible adult while attending college.  Good Luck.  Don't forget that someday you will have to repay your financial aid.