How much student loan debt is normal?
September 10th, 2010 | 
Author: 
Kristin E asked:
I am going back to college at age 25 and right now I am working 35 hours a week and taking 3 classes. I feel like I don’t have enough time to study and was thinking about dropping my work hours so I can go to school full time, and pay all my bills with student loans. If I do this, I might end up with 40-50k in debt when I graduate. I am going for an Accounting degree so I know there wont be a problem getting a job. What should I do? What did other college graduates do and how are they paying for it now??
Student Loan Debt Consolidation
I am going back to college at age 25 and right now I am working 35 hours a week and taking 3 classes. I feel like I don’t have enough time to study and was thinking about dropping my work hours so I can go to school full time, and pay all my bills with student loans. If I do this, I might end up with 40-50k in debt when I graduate. I am going for an Accounting degree so I know there wont be a problem getting a job. What should I do? What did other college graduates do and how are they paying for it now??
Student Loan Debt Consolidation
Posted in School Loan Consolidation | 
Tags: Accounting Degree, College Graduates, Getting A Job, Student Loan Debt, Student Loans
Bad Credit Debt Consolidation Loan
yea thats about normal 40-60
Private School Loan Consolidation
It does depend on where you go to school how much debt you will be in… but 30-75k sounds about right. Most loans have a reasonably long period of time in which you pay them off, I would not be concerned about getting through it. There are many people that have done it before, and there will be many after.
Consolidating Credit Card Debt
Did you apply for financial aid? You’re at an age which your parent’s income will no longer be considered. If you haven’t applied, go to
and do so! You may be eligible for need-based aid or at the very least federal student loans (which carry a lower interest rate). Of course, this doesn’t help you right now… but for next year.
When I graduate I’ll be at around 95k in student loans. I was freaking out about it and I found this really good calculator:
Take the average pay for a starting accountant and put that in. Just take guesses at interest rates etc. It will tell you if your debt will be manageable based on your expected income upon graduation.
Most students graduate with debt, I’ve only carried jobs in the summer and don’t think I could handle working while going to school. I used the calculator and it said my fiance and I would be OK with our combined debt and expected combined income. You just have to determine how much debt is “doable”, obviously you’re not going to put yourself 100k in debt to be a elementary school teacher for example. Even if you won’t be living as well as you’d like to for the 10 years of your loan repayment, you’ll have many more decades to enjoy a high paying career.
Good luck!