<p>Your parents don’t want to take a Plus loan but are willing and able to cosign for a $25K private loan? Are you sure? This is a horrendous amount of debt for you to take on top of Stafford loans for an undergrad degree - and you’re planning on grad school too? You really need to play with a loan calculator before you do this…it could easily make your life after college a living nightmare. Also, you should be aware that private loans will not be eiligible for any of the federal repayment options such as Income Contingent Repayment or Student Loan Forgiveness. If you end up $80K in debt, you’ll be paying close to $1,000/month in student loans and will likely need an income in excess of $100K to make that happen and still live normally. If you’re only considering a one-time $25K loan, then it would mean payments of around $600/month for 4 years.</p>
<p>[FinAid</a> | Calculators | Loan Calculator](<a href=“http://www.finaid.org/calculators/loanpayments.phtml]FinAid”>Loan Payment Calculator - Finaid)</p>