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Art_from_Ark

(27,247 posts)

4. But you are only talking about federal student loans, right?

Mon Apr 21, 2014, 10:18 PM

Apr 2014

It's been a while since I had to deal with student loans, but when I was going to college there were two types of loans available-- NDSL (National Direct Student Loans) and private loans. Interest on the NDSL loans was 2% and didn't start accruing until 9 months after I had left school. As far as I know, the amount of NDSL loans was limited, but the amount of the other, higher-interest loans, was not.

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"These New SAT Questions Are A Little TOO 'Relevant'" [View all] kpete Apr 2014 OP

LOL, that's a good one. K&R Electric Monk Apr 2014 #1

$80,000 loan at 8% interest? Art_from_Ark Apr 2014 #2

Sorta not possible. Max federal student loans are about $27k spread over 4 years. MissB Apr 2014 #3

But you are only talking about federal student loans, right? Art_from_Ark Apr 2014 #4

Very true. But kids need a cosigner for the private ones, since no credit history exists. MissB Apr 2014 #5

I graduated 20 yrs ago w/$75K debt at 8% interest.... mike_c Apr 2014 #6

Wow - when I read your post I thought that couldn't possible be right whopis01 Apr 2014 #8

my payments are actually closer to $750/month.... mike_c Apr 2014 #10

It really is amazing. whopis01 Apr 2014 #11

Great cartoon Gothmog Apr 2014 #7

They could confiscate Social Security payments madville Apr 2014 #9