Alright. ive estimated a total of around 20,000 in college loans for undergrad. is that high? and should i?
Question:
Answer:
$20,000 is a nice chunk of money, but it seems a lot bigger because of your perspective at this point. However when you are a PA, you'll have it paid off in no time.
Think about it this way:
The average car debt in the US is $26,156 at 9.6% interest.
Your student loans will be $20,000 at about 5-6% interest.
If it's really stressing you out, try to get a part-time job and throw some money toward the loans. $100 a month for 4 years would be $4800, nearly 25%.
I say definitely go for it.
yes its alot of money. is it alot considering tuition costs? no, not even close. if you are able to get your entire undergrad 4 years covered with 20,000, you are doing better than alot of students. i work for a student loan company, and Ive seen total loan debt as high as 250,000 for 4 year universities and grad school combined. the best thing to do is to be sure that this is what you want to do with your life before you make this kind of investment. if you focus and succeed, you can get a job that will pay off your loans easily and still have money left to burn. as long as you are responsible and stay in communication with your lenders. you will not have any problems. good luck!!
$20,000 is not a lot of money to end up with a good job in a few years. Try for grants and other sources also.
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