My Loans are How Much?!
Wednesday, June 14th, 2017When I was starting college and filling out financial aid, I was happy that I was even offered enough loans to cover college. I’m the first in my family to go to college and we were low-income. So, I accepted all my Stafford loans offered to me; sometimes I even was offered an additional Stafford loan, due to my parents’ rejection for a Parent Plus Loan. A few days ago I realized I haven’t finished my exit loan counseling. I remember getting a little paper slip about it during the graduation fair, however… my mind just blanked on doing it. Or how to even do it. I finally started doing it; but I was shocked! I took about $30,000 out in federal loans. According to the loan repayment calculator I had to do, I will be paying roughly $42,000 over 10 years! That’s $400-600 a month it calculated. WHAT????