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In reply to the discussion: Typical Millennial bank statement [View all]haele
(13,218 posts)That was after getting all the pre-requisites completed at the local CC or JC over 2 to 3 years using Pell grants and some out of pocket.
I still pay $400 a month to pay off the Federal Student Loans I had to take for that 2 years of 300 to 400 level units required for a BS in Business/IT at a reputable state college. Between the base $200 a course unit plus the $100 up to $500 added on fees due to whatever degree you are pursuing -and whether or not it's a lab course -which adds even more fees - and the up to $1k in books and supplies for each course, and you find yourself liable for more than rent on the average one-bedroom apartment each month just to get a 4-year degree. Even more if you want or need Master's degree or post graduate school for a career.
$400 a month for 15 years paying off a Federal student loan for a BA/BS is normal. Even more if you get a commercial education loan.
Haele