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Normally, what's the monthly payment for the community college loan?

Hi, I know it's a pretty stupid question to ask since every situation is a different case, but I'd really like to know the average monthly payment if you have a community college loan for years.

I will need 63 credits to complete the associate degree of a major.
It doesn't have to be accurate, but I was wondering how much people with this kind of situation would pay a month.

I really appreciate your help. Thanks.

Answer Question
 
Anonymous

Asked by Anonymous at 7:56 PM on Oct. 15, 2009 in

Answers (6)
  • We were just at a financial aid appointment and for a $5,000 loan they said the payment would be around $70 a month.
    Gailll

    Answer by Gailll at 8:04 PM on Oct. 15, 2009

  • You can use this website to estimate your monthly payments based on how much you think you will need to borrow. http://mappingyourfuture.org/paying/standardcalculator.htm

    JeremysMom

    Answer by JeremysMom at 11:07 PM on Oct. 15, 2009

  • It depends on the amount of the loan and the interest rate. A student loan company will not even quote a payment amount until it is time for repayment.
    tyfry7496

    Answer by tyfry7496 at 10:14 PM on Oct. 16, 2009

  • Depends on your community college cost per semester. The cost of CC in some states is really high compared to those in other states.
    Anonymous

    Answer by Anonymous at 2:18 AM on Oct. 17, 2009

  • Also, keep in mind that you do not typically pay student loans back until AFTER you have graduated.
    Wheepingchree

    Answer by Wheepingchree at 10:38 AM on Oct. 18, 2009

  • depends on your income, and your school., i get financial aid and don't have to pay a penny and get money back. you don't start paying on student loans usually until 6 months after you graduate though
    ssnelson26

    Answer by ssnelson26 at 9:13 PM on Oct. 18, 2009

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