student loan ratio - what do you think?

iVillage Member
Registered: 01-25-2009
student loan ratio - what do you think?
1
Tue, 05-12-2009 - 5:48pm

Read an old NYT article today about the amount of student loan one could "safely" take out. One of the guideline is the total amount should not exceed the average annual starting salary of the field one intends to work in. For example, if someone is studying to be a teacher, and the starting pay of of teachers where he or she wants to work is $38,000 a year, then he or she should not have more accumulate more than $38,000 of loans, assuming there is no credit card or any other kind of debt.

What does everyone think about this?

iVillage Member
Registered: 08-24-2007
Tue, 05-12-2009 - 7:45pm

Years ago, I struggled to pay off my $12,000 student loan.

Kate


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