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College and University Discussion
Reply to "Is $25k college debt bad? - Current College Student"
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[quote=Anonymous]Have you figured out how much the minimum payment is after graduation? What are the terms (30years) and what is the interest rate? Let’s say it’s 158/ month for 30 years. (That is 25k for 30 years at the current 6.5%). If you pay double that amount, you shave years off of what is owned. Plug it into a few calculators and see. That 300-400/ month is the equivalent of some car payments, so you can budget for that each month. No one can calculate for you the opportunity cost of having gone to a cheaper college, but it sounds like a sound decision and as long as you’re willing to pay for it once you’re getting a salary, it should be fine. [/quote]
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