Can one of you young dudes tell me how long students can take to repay student loans these days?
Assume a student who starts borrowing in 3rd year of undergraduate univ, gets a BA and then borrows addiionally for another 2 years and earns an MBA. The total loan would be $60,000 at the end. How long could a graduate put off paying?
Just checking up on a spendthrift nephew and trying to work out some cash flows. <heh heh>
if he paid the minimums it would take nearly 40 years to pay them off. You can apply for a deferment for 36 months i think, and a forebarence for up to 1 year. The interest continues to accrew though.
Wow, talk about flexibility. No wonder he's buying so much consumer stuff with money he ought to be using for rent, savings, or debt repayment. I'll factor 15 years into my Excel based cash flow and see how it plays.
Linear Mode
