Private Student Loan. hm...

Paying for College
1

<p>Most of us know that it's tempting to go for private student loan and pay for their education expenses, but problem is the high interest, variable, rate which will accrue on your capital. As a result, by the time you graduate, you'll end up with burdensome debt, assuming you kept borrowing from private student loan companies.</p>

<p>Isn't it good idea to pay off little by little even though your payment plan is to pay back after graduation?</p>

<p>So, for example, let's say I borrowed overall $50,000 with 10% variable interest rate blah blah.
By the time I graduate, probably, I'll have to pay back $60,000 - $70,000. </p>

<p>My question is, if possible, isn't it good idea to pay back little by little during your school year?
Hence, private student loan isn't all that evil if you are able to pay back a lot before your official bill comes at your face, right?</p>

2

<p>That’s if you actually make enough during the school year to pay it off. To actually keep your amount reasonable, you would probably have to work a full time job. Why do you need to take out private loans?</p>

3

<p>I was just considering that option but I decided to go with stafford loan: subsidized and unsubsidized (I’m kind of desperate right now xd).</p>