before my first loan payments are due. Three statements are sitting on my desk. I know people don't usually throw their numbers out there, but I'm not most people, and I don't care how sorry you feel for me after reading this, so here goes:
$113/month Perkins loan from law school
$125/month Perkins loan from undergrad
$585/month private loans from law school (!!!)
$335/month federal loans from law school (starting in July when my deferment runs out)
$1158/month. Um, there is NO WAY IN HELL this is possible. I've know this was coming for three years. I estimated the calculations for three years. I'm not ready for it. I'm thrifty, but not that thrifty. I will pay the private loans because of their bloodsucking 9% interest rate and maybe one of the Perkins loans. The others - simply gonna have to be put into forbearance.
Ouch. Heartburn.
I'll french kiss anyone who can beat these totals.
2 comments:
I just did the math on mine, for this coming December, and they were at $1200 -- with ZERO undergrad - all law school.
Reason being my three-time budget increase to cover child care.
I understand that you may want proof at the end of the year, but I believe I will be owed a kiss.
The reason I am not going to the "best" school to accept me is because, if I don't get any aid (and I expect anything I get to be minimal), I will owe roughly $1800/month when I graduate (before factoring in what I owe on the Masters degree I never finished). That is more than a little frightening.
But 9%? I didn't even realize they were allowed to charge that on a student loan. You'd almost be better off putting your entire education on a credit card.
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