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According to the site with the calculator:
"This loan calculator assumes that the interest rate remains constant throughout the life of the loan. The Federal Stafford Loan has a fixed interest rate of 6.8% and the Federal PLUS loan has a fixed rate of 8.5%. (Perkins loans have a fixed interest rate of 5%.)"
This will not be your scenario, since much of your debt will be from private loans. If you take the maximum in Stafford loans, the Stafford loan payment will be $207.18/month. Plus, the Stafford loan rate is not always 6.8% - it locks in at whatever the rate is when you sign the papers. Currently, the rate is actually 7.14%.
Now add in your private loan payment, which will be likely charged at approximately the PLUS loan rate of 8.6% (and is variable). That monthly payment will be $582.73.
Ah, but then you get to this part: "These results assume that the student is paying the interest charges on any unsubsidized loans and is not capitalizing the interest while in school. If the student is capitalizing the interest, the cumulative payments and total interest charges will be higher than shown here."
So you really need to figure your loans at a 14 year term to account for while you are in school. Add in the extra interest, and you're at about $1000/month in loans. That is far, far too much - even at your average salary of $52,000/year.
Don't bet on getting a Perkins loan. Those are only for people with a very low EFC. If your parents are able to contribute as much as you say, plus including your college account, you will likely not qualify.
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