A few days ago
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I’m going to graduate with $8,000 in student loan debt is this a lot of debt?

I’m going to graduate with $8,000 in student loan debt is this a lot of debt?

Top 10 Answers
A few days ago
Anonymous

Favorite Answer

Not compared to my $50k.
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A few days ago
Betsy D
On average students graduate with around $20,000 in debt. So it’s not a lot compared to some students.

The real answer to your question lies in whether or not you will be able to pay off your debts in a timely manner. Will you have a job soon? Do you have to pay off a certain amount of your debt per year, and can you do it? If not, then yes, it is a lot of debt – for you.

Near the bottom of this website there are some links that may help you understand your options for paying off the loan. http://www.finaid.org/loans/

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A few days ago
yakngirl
Not at all. Compare it to the total cost of your education and it’s just a fraction of the amount. You’ll have a grace period before you even have to start paying back the loan, and then your payment will only be about $100 a month. As you get yourself settled and start making more money, you can double your monthly payment. You’ll have the loan payed off in no time. If you decide to get an advanced degree, you’ll even get to suspend your payments until you complete your studies.

Investing in yourself is always a good choice. Congratulations on completing your education.

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4 years ago
nunnery
regrettably—-$35,000 isn’t too undesirable, after 4 years. Be arranged, however, that’s now common for it to take 4 a million/2 – 5 years to get that degree. that’s going to likely be well worth it, however. you’re able to have some thing that could on no account be taken faraway from you and you isn’t slinging hamburgers, or washing vehicles the the remainder of your existence. laptop technological know-how is a great field to get into–make money with your brains, not your bod. Do prepare for all provides, aids, scholarships and the rest you will locate. good luck to you. You already are a clever baby!
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A few days ago
Bryan B
Thats pretty decent for this day in age. Most people leave school with 5 digit debt. I graduated almost 10 years ago with $10000 of debt. You’ve got 10 years to pay it off.
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A few days ago
Pip
For student loan debt, no. You should be able to knock it off in a few years. Make sure to call your loan company and agree on a payment plan.

If it makes you feel better, when I graduate, I’ll be about $80K in debt.

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A few days ago
Rockit
$8,000 might seem like a lot but in comparison to others, it is not. $8,000 is quite a chunk of change, but there are people out there who graduate and are over $50,000 in debt.
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A few days ago
Anonymous
Depends on what you went to school to do. If you are now a lawyer or a dr then I’d say good job! If you are now certified to be a CNA or similar income position then – not good, not good…
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A few days ago
Jenny
Nope not a lot at all… Just pay it off as soon as ya can (like you needed someone to tell you that!)
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A few days ago
Anonymous
Not really. I have 12,000 just in stafford loans.
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A few days ago
Anonymous
nope… try $120,000.00 in student loans while i attended Law School!!!
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