School loan question

[USF11]

Re: School loan question

Ok here is the scenario. My GF is planning to go back to school full time. After checking out with various schools we came out to $45,000 for her degree.

I paid my way through school so I have not idea what the norm is for taking out school loans.

Personally I don't like taking someone's money, even if it's a bank. I paid my car loans off and am trying to pay my house loan of ASAP.

I'm telling her to work a little more and start saving money so she can knock that amount down from the start. But she wants to do a deferred loan and says she will pay it off when graduates and gets a better job.

But when she graduates the loan already will be at $52,425. Tag that alone with a 10-15 year plan to pay off and that is a lot of interest.

She is really set on this school so I don't if I should convince to go somewhere cheaper or what. Is taking such a loan on school normal?

I waited until I was 24 to finish school because @ 24 you are an independent student and are entitled to a crapload of financial aid. My tution would be 21k a year, with aid its only 5k a year in loans.

Fill out your fasa and contact the school you are planning to attend. They can give you a ball park on what you are likely to get.