Question:
I want to know on average, the usuall balance for loans outstanding when students graduate from college and the amount of their monthly payments.
Answer:
There is no average for this. It depends on how much you borrowed. If you borrowed 100K to go to school for 5 years you will be paying a lot more than someone who borrowed 5K to get a certificate in 6 months.
I have 2 loans, one from Direct Loans (government thing) for 16,000 dollars, this one costs me 200 dollars a month.
I've another 8000 dollar one through Sallie Mae, and this one costs me 71 dollars a month.
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