Question about how much in student loans is too much :
I will be graduating with 35,000 in loans, unsubsidized, the interest capitalized. The interest rate is 10%. My payments are 250 a month. Is this bad, would 40,000 in loans be bad.
Answer about how much in student loans is too much :
The interest rate you have isn’t very good – do you have private loans? $35,000 is manageable, so you should be okay as long as you can stay employed and live within your means (with your other expenses). $15,000 – 40,000 is within the average amount of student loan debt, just be sure to always include that amount in your monthly budget so you know what income you have to work with. Obviously, it also makes a difference where you live and what the average pay is
(in your field) where you live. $40,000 in student loan debt for a lawyer or a doctor is a low amount, for an English major, it might be on the high end (because of expected annual income). Of course, you cannot always guarantee a job in your chosen field and you may have to start at the bottom making minimum wage, but it’s expected the your pay will continue to rise as you move up within the field.
source here.
