how much do you pay on student loans per month

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I owe a massive amount in loans, 33,000 . I'm just curious to how much others pay in student loans ? My goal is to pay it off in 5-10 years. Seems impossible right now though.

No debt for either degree for me. Back in the day, it was far more doable to pay as you go if you worked part time during the year, and full time during breaks and summers.

It's not as feasible now to get through school without scholarships, loans, or FA. So we are giving that gift to our kids: Ph.D for older daughter, and law degree for the younger (though the grad school part for older daughter is "fully funded," meaning it's paid for). I have stressed to them that graduating debt free is an enormous gift they are receiving. Now that they know so many other kids their age who are drowning in debt, they realize how really fortunate they are.

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when student loans are deferred ,does interest still accrued?

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when student loans are deferred ,does interest still accrued?

Yes, interest still accrues on your loans.

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Yes, interest still accrues on your loans.

Thank you . I have a question so when a loan has zero interest , it still accrues right? What is the benefit?

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Specializes in ICU, LTACH, Internal Medicine.

Zero after undergrad and (will be) grad. Just went in each when I had money on the table.

BTW, half of my undergrad class will score somewhere close to $60000 and up after grad. So, $33000 is not massive by any count.

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Thank you . I have a question so when a loan has zero interest , it still accrues right? What is the benefit?

If it has 0% interest then the loan is virtually interest free. You would only had to repay the amount of the principal ( what you originally borrowed).

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Specializes in Critical Care, Med-Surg, Psych, Geri, LTC, Tele,.
Thank you . I have a question so when a loan has zero interest , it still accrues right? What is the benefit?

Subsidized loans don't accrue interest while you're in school.

Unsubsidized loans do.

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