I frankly don’t see how graduates ever get out from under this. If you have $100,000 debt (which is not that much these days), and could pay $1,000 a month (and realistically, who can pay that and living expenses?), you would pay off the principal in eight years. Except there’s interest. So it looks more like a twenty year proposition. Unless you have a high-paying position right out of school.
I frankly don’t see how graduates ever get out from under this. If you have $100,000 debt (which is not that much these days), and could pay $1,000 a month (and realistically, who can pay that and living expenses?), you would pay off the principal in eight years. Except there’s interest. So it looks more like a twenty year proposition. Unless you have a high-paying position right out of school.