How to pay large student loans?

How much do you pay in student loans monthly?

• I am currently enrolled in a PRIVATE nursing school and I am really starting to freak out about how I am going to pay for school once I graduate. I took all my prerequisites at a community college so that took some time off and also I am getting the max I can get in fin aid (~5000 a year) However, the school I go to cost 20k a year and I will be there for 2 and a half years for a grand total of almost 45 k . That is ALOT of money. I dont really know how student loans work after you graduate so I am trying to figure out if it is even worth getting. I am planning too.. no GOING to save 10k by the time I graduate which I am planning on giving when I graduate to make my payments lower. Please dont say go to a cheaper school, I went through a community college and then to a university but couldnt get into their program. I have good grades but public schools are close to impossible to get into. I always hear student loans are an investment, but in this economy it scares me that I am putting myself into debt and even though I will make more money it will just go to student loans. Thanks

• Answer:

  You may not even be able to take out that much in loans. Start looking for alternative funding (your own savings, scholarships, grants, etc) to help out. But your monthly payment depends on the amount of your loan(s) and the interest rate. My payments on approx $13k were close to $90 a month. You can also pay on your loans while you are in school sometimes, talk to your lender for info. There are tons and tons of scholarships out there for nurses, you just need to go look for them and apply. Don't let fear of loans keep you from pursuing an education. They aren't *that* bad if you pay them back. Default on them and your life will suck. :-(