Help in estimating interest payments on student loans?

[AspenMarie]

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Hey guys,

I'm a newly accepted vet student and my husband and I are trying to put a budget together for vet school (ack). I'm trying to estimate the costs of paying off the interest every month on the now unsubsidized student loans (blech).

I know this would vary on how much we choose to take out every semester for student loans but does anyone have a very rough estimate on how much this would be every month for say taking only the money for tuition and school (~$25,000) vs. the full amount (~$50,000).

Any help is appreciated!!

 

[justavet]

I would suggest you call your school's financial aid office. They may already have a tool you can use, if not they should be willing and able to help you find one on the web. From your location, are you at OSU? If you are, do you know that you can reclassify as instate after your first year for tuition purposes?

For general purposes you may want to get better educated on basic financial matters involving loans and budgeting and personal finance. I like Motley Fool and Kiplinger's.

If you're on VIN (free for all vet students) I would encourage you to post there, there are people on VIN working on student loan issues who can and will answer you quickly and accurately. I will make sure of it. I'm not anyone official on VIN, I just know how to be irritating as hell🙂

Good luck and welcome to the fold!

 

[AspenMarie]

Ha! Thanks for the tip. I will check out VIN for sure. I'm working on all of this a little early but just want to be prepared as much as possible. And lucky for me, I'm already an in-stater...

 

[justavet]

If you need any help getting registered with VIN PM me and I'll poke some people for you- but mostly they run pretty smoothly so you shouldn't have any trouble.