If you have 80-100k in student loan debt?

Hello,

How most have been we profitable per month? What is the length of your amends devise (10-30 years?) Are your tyro loans federal, in isolation or the multiple of both?

I am asking this subject since I'll be starting my MA in Education shortly as well as we am flattering frightened about how we am starting tol live as well as pay off my SL bills. we intend to be the clergyman that pays about 45-50k annually (in Australia.)

My undergraduate as well as connoisseur price total will be about 80-100k.

Thank we
*I am an American migrating to Australia*

There are 2 suggestions to question “If you have 80-100k in student loan debt?”

If you are currently in America and planning on going to an American school….. then take this advise.

Student loans are usually paid back over a 10 year period. Stay away from private loans completely. Stick with Federal Student loans, you'll get better interest rates and lower fees, and the government will pay the interest on some of them while you are still in school. A debt of $80,000 would earn you a payment of about $825 a month. A loan of $100,000 would earn you a payment of about $1,050 a month.

A Good rule is not to borrow over the amount of money you expect to earn your first year of college. So if you expect to earn $45,000 (payment of $475) than this would be the maximum you would be able to afford in payments with a salary of this upon graduation.

Also be wary, an American teaching degree may or may not be recognized in Australia.
Good Luck.
I'm a Student Loan Consolidator, and there are a couple of things about student loans you may not know.
Consolidation is a Federal right that doesn't cost you anything and it basically does 3 things for you.

It fixes your interest rate so it doesn't go up every year.

When you take out a federal loan its a automatic 10yr repayment term, consolidation can stretch it up to 30yr with a no pre-payment penalty, so your payment will drop.

It also makes it into one payment vs. however many you have out.

Now you may want to consider teaching in the states for at least 5 yr. because if you do you can have up too 17,500 forgiven, you can check out that program on http://www.studentaid.ed.gov

Don't forget your deferment and forbearance time, that is up to 9 years of temporary loan suspension that keeps you out of default.

If you have any other questions the name of the company I work for is Academic Financial Solutions feel free to give us a call.
866-416-6333
Hope that helps a bit….
-Athena