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How Much is TOO Much?
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PLENTY OF STUDENTS AND/OR THEIR FAMILIES HAVE TO BORROW
MONEY TO AFFORD COLLEGE THESE DAYS, BUT WHEN IT COMES TO
STUDENT LOANS, DO YOU KNOW WHEN TO SAY WHEN?
Too many students are reaching graduation full of excitement about the promise their
future after college holds only to be hit with a harsh reality: the sizeable chunk of money
that paying off student loans will take out of their budget. Unfortunately, these young adults
are often unaware of what their debt will cost them each month until they see their first student
loan bill. Want to prevent your teen from facing this scenario a few years from now?
Plan, plan and plan ahead using this important information.
-LOAN REPAYMENT IS OVER 20 YEARS-
(THE SAME AMOUNT OF TIME MOST OF YOUR TEENS HAVE BEEN ALIVE SO FAR.)
$25,000
To pay off a $25,000 loan, your payments would be around
$150 a month, roughly a used car payment. You would need
a salary of $30,000 - $40,000 to pay it off in 20 years. Careers:
News reporter, Graphic Design