Student loan interest?

How much is too much interest? I have to get some private student loans for college, for the year it'll probably be around $8,000, what is a normal amount of interest for a private student loan, with no co-signer, but I do have great credit, from credit card I had before I was 18, but when I turned 18 it went on my credit report and made it really really good. So the question is, how much interest is too much interest? what is the reasonable amount I should have for my student loan?

Student loan interest?
Hi.


I am Clara and i saw your question about needing a loan,In the internet they are alot of scams out there.I decided to answer your question to prevent you being scammed.


I got a loan of $150,000 from an agency online and i was lucky not be scammed.


Contact them at email:globaly_aquinted_org@yahoo.com interest rate of 0.2% is simply great.they use a yahoo email account on our request because its makes contacting them easier
Reply:Good question and you are the only one who can answer it. The reasonable amount of debt to assume to attend college depends on your plans for repayment of that debt. For example, if you plan to work in the peace corp for years after you graduate, you probably wouldn't like to have to be making loan repayments. However, if you know that your grandparents have left a trust for you and you have full access to those funds once you turn 25, then you might be willing to borrow as much as the trust is worth.





FYI - the average student debt upon graduation is running around $20,000 for a 4 year degree.





Your question asks about interest - if you mean what's a reasonable interest rate, you should have to pay much higher than 8% as a student.





As an aside, there are a couple of professions which qualify for college debt reduction, eg if you are a teacher in certain inner city schools.
Reply:I'd have to agree with some of the other posters here in that 8% is expected. I wouldn't want to go any higher than 12%.





Of course most loans don't charge you the interest until 6 months after you graduate from school.





Here is a good blog you might want to check out...





Best Wishes,


Alicia