{"id":45,"date":"2018-06-19T13:57:57","date_gmt":"2018-06-19T13:57:57","guid":{"rendered":"http:\/\/blogs.uww.edu\/financialliteracycenter\/?p=45"},"modified":"2018-07-02T18:02:26","modified_gmt":"2018-07-02T18:02:26","slug":"student-loans-how-much-is-too-much","status":"publish","type":"post","link":"https:\/\/blogs.uww.edu\/financialliteracycenter\/2018\/06\/19\/student-loans-how-much-is-too-much\/","title":{"rendered":"Student Loans: How Much is Too Much?"},"content":{"rendered":"

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Think about the first 10 years after<\/em> college graduation. You may want to purchase a reliable vehicle, rent an apartment, purchase a home, travel, get married, have children, etc.\u00a0 You have worked hard to obtain your degree and land a good-paying job in an effort to provide for your future, yet too much student debt can inhibit your ability to afford the things or adventures you want.<\/p>\n

About three-fourths of college students (4-year) graduate with loan debt.\u00a0 According to the Institute for College Access & Success<\/a>, the average Wisconsin graduate leaves college with $30,059 in student loan debt.\u00a0\u00a0Although the total borrowed amount is a personal decision, there is a general ‘rule of thumb’ as to the amount of debt a college student should acquire.\u00a0 Total student debt upon graduation should be less than your future annual income.\u00a0 For example, if your estimated starting salary is $40,000, your total student debt should be less than $40,000.\u00a0 Upon graduation, there is usually a 6 month grace period, but then you will have a student loan payment for the next 10+ years.\u00a0 This monthly debt payment will reduce the amount of money available to pay for expenses of your choosing.<\/p>\n

Remember, education debt is good debt.\u00a0 Taking on student loans is an investment in your future; however, too much of a good thing can hurt you.\u00a0 You do not want to spend a lifetime paying off your bachelor’s degree.\u00a0 Do your research, and make good financial choices now to benefit your future.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Think about the first 10 years after college graduation. You may want to purchase a reliable vehicle, rent an apartment, purchase a home, travel, get married, have children, etc.\u00a0 You have worked hard to obtain your degree and land a good-paying job in an effort to provide for your future, yet too much student debt … <\/p>\n

Continue reading “Student Loans: How Much is Too Much?”<\/span><\/a><\/p>\n","protected":false},"author":7648,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[881888],"tags":[881890,9391,881893],"class_list":["post-45","post","type-post","status-publish","format-standard","hentry","category-student-debt","tag-student-debt","tag-student-loans","tag-uww-financial-literacy-center"],"_links":{"self":[{"href":"https:\/\/blogs.uww.edu\/financialliteracycenter\/wp-json\/wp\/v2\/posts\/45","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.uww.edu\/financialliteracycenter\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.uww.edu\/financialliteracycenter\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.uww.edu\/financialliteracycenter\/wp-json\/wp\/v2\/users\/7648"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.uww.edu\/financialliteracycenter\/wp-json\/wp\/v2\/comments?post=45"}],"version-history":[{"count":2,"href":"https:\/\/blogs.uww.edu\/financialliteracycenter\/wp-json\/wp\/v2\/posts\/45\/revisions"}],"predecessor-version":[{"id":48,"href":"https:\/\/blogs.uww.edu\/financialliteracycenter\/wp-json\/wp\/v2\/posts\/45\/revisions\/48"}],"wp:attachment":[{"href":"https:\/\/blogs.uww.edu\/financialliteracycenter\/wp-json\/wp\/v2\/media?parent=45"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.uww.edu\/financialliteracycenter\/wp-json\/wp\/v2\/categories?post=45"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.uww.edu\/financialliteracycenter\/wp-json\/wp\/v2\/tags?post=45"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}