Wednesday, March 17, 2010

What is the average amount of student loan debt that people have after their BA degree?

I know that not everyone takes out a loan for school but I just need an estimate number. I feel overwhelmed and stress out because I'm going to Nursing school and will have 28,000 in debt over my head after I graduate. I'm really really stressed! I do have a job lined up after I graduate but 28,000 seem so big right now.

What is the average amount of student loan debt that people have after their BA degree?
28k is about right. It's about $7500 a year. Don't stress. You can defer them where you don't have to make payments on them if you are in financial hardship for up to 9 months each year. My husband does it all the time and he owes 25k and he pays about $230/ month. Just remember to get a cheaper car payment and see that extra $230 a month as an addition to your car payment. And....get a good nursing salary! Good luck! You'll be fine!!! My friend just got out of law school and she owes 100k and pays 900 a month. She makes less than a nurse would, so be thankful!
Reply:My student loans were about 21,000. No worries, its worth it. Just don't apply for personal loans, just school loans. You get a six month grace period after you graduate. Then if you have problems finding a job, you can defer or get a forbearance. Even if you are having financial troubles and need to put off payment they will work with you. Go for it! Its the best kind of debt you can have because it is assuring you of job satisfaction and stability. You will always be in demand as a nurse.
Reply:mine was 24k. it seems like a lot, but what other choice do i have?remember the quote, 'if you think education is expensive, try ignorance'.


dont worry, just plan carefully.


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