You can use an online loan calculator to see the impact of your debt on your future. Your dad might be surprised how much more expensive it is to borrow for an education today. When I was in school the interest rates were closer to zero, and car loans were 7-8%. Now student loans are high and cars can be financed for near zero. The FinAid site’s calculator figures your monthly payment but also the amount of income needed to sustain that debt without going into default in the paragraphs below the results grid. Student loan default can create an endless cycle of debt because of the exorbitant default fees and inability to bankrupt away the debt. http://www.finaid.org/calculators/loanpayments.phtml