If you have 80-100k in student loan debt?
Hello,
How much are you paying per month? What is the length of your repayment plan (10-30 years?) Are your student loans federal, private or a combination of both?
I am asking this question because I’ll be starting my MA in Education soon and I am pretty scared about how I am going tol live and repay my SL bills. I intend to be a teacher which pays about 45-50k annually (in Australia.)
My undergraduate and graduate cost combined will be about 80-100k.
Thank you 
*I am an American migrating to Australia*
If you are currently in America and planning on going to an American school….. then take this advise.
Student loans are usually paid back over a 10 year period. Stay away from private loans completely. Stick with Federal Student loans, you’ll get better interest rates and lower fees, and the government will pay the interest on some of them while you are still in school. A debt of $80,000 would earn you a payment of about $825 a month. A loan of $100,000 would earn you a payment of about $1,050 a month.
A Good rule is not to borrow over the amount of money you expect to earn your first year of college. So if you expect to earn $45,000 (payment of $475) than this would be the maximum you would be able to afford in payments with a salary of this upon graduation.
Also be wary, an American teaching degree may or may not be recognized in Australia.
Good Luck.
