Federal loans, what??

mom2collegekids
Tue, 03 Aug 2010 19:45:43 +0000

^^^

I think you’re confusing that you’re not supposed to have student loan payments that exceed 10-15% of your monthly income when you graduate.

So, if you will likely earn $3k per month, then your monthly loan payments for student loans shouldn’t exceed $350 per month.

that is probably the most anyone should borrow. Many kids have no idea of how much of their future income will already be “spoken for” and won’t be available for student loan payments. Regular costs such as: taxes (state, federal, FICA), rent, utilities, car expenses, food, clothing, cell phone, internet, cable, etc will take up much of a new grad’s income.