Asked in
Personal Finance
Loans
Student Loans and Financial Aid
Money Management

How much can you get for a student loan?

Answer

User Avatar
Wiki User
November 25, 2008 1:19AM

Keep in mind that when you graduate, you will be earning a beginners salary which is less than the school's promise of what you will be earning as an experienced worker.

Borrowing $35K and paying back a minimum can take a lifetime to pay off. For the first two years, the repayment will be in the neighborhood of $50 or so per month. If the loan is in your parent's name, they are on the hook for $390. So, use the money for tuition and books and take a job to cover living expenses and fun. Then, at least, your debt will be for something of tangible value.