Part 4: Paying it back
Plan 1: Income sensitive repayment plan
I liked the plan because your payments are based on your income. The more you make, the more you have to pay back each month. There are subsidized and unsubsidized loans.
Plan 2: Extended Repayment Plan
I liked this plan because your payments can be fixed or graduated. Plus your monthly payments would be lower than the ten year standard plan.
Repaying Chapman:
With a standard repayment plan I will be paying 316/month for 120 months.
Repaying University Of Washington:
With a standard repayment plan I will be paying 95/month for 120 months.
Repaying SDSU:
With a standard repayment plan I will be paying 93/month for 120 months.
Before starting this project I didn’t really have an idea about what my loans would look like and how much it would be to go to college. I understood that some schools that I was planning on going to are very expensive, but I didn’t want that to get in the way of me applying to that school. I knew that I would find ways of paying for it if I needed to. I now understand a lot of those ways that I can pay for college. Through this project I discovered that there are so many more ways to get money for school than I was expecting. When I searched through merit based scholarships I found 93 different scholarship that I was eligible to apply for, of course I wouldn’t apply for all 93 but thats still a lot of chances to have my students loans paid off. I haven’t changed any of my options for colleges but now I know that I should look at some more variables before deciding I want to go to a college, because i’m interested in more than just these three colleges. Loan default rate is an important thing to look at when looking at a college. It shows if the school is too expensive and if students can’t find good jobs after graduating so then they can’t pay for their loans. This is important information for me because it shows two really important things, if a school is too expensive and if students can’t pay for their loans after school because they can’t find good paying jobs. I hope that after I graduate I will be able to find a job that will allow me to comfortably pay off my loans. I think my biggest challenge will be applying for the right loans, I’m afraid that I won’t know which ones to apply for. I also want to make sure that I get as much help from scholarships as possible. It’s important for me to start looking into that as much as possible now. Its hard for me to believe how expensive college actually is, I’m so grateful that I know all the ways that I can get help paying for it.
I liked the plan because your payments are based on your income. The more you make, the more you have to pay back each month. There are subsidized and unsubsidized loans.
Plan 2: Extended Repayment Plan
I liked this plan because your payments can be fixed or graduated. Plus your monthly payments would be lower than the ten year standard plan.
Repaying Chapman:
With a standard repayment plan I will be paying 316/month for 120 months.
Repaying University Of Washington:
With a standard repayment plan I will be paying 95/month for 120 months.
Repaying SDSU:
With a standard repayment plan I will be paying 93/month for 120 months.
Before starting this project I didn’t really have an idea about what my loans would look like and how much it would be to go to college. I understood that some schools that I was planning on going to are very expensive, but I didn’t want that to get in the way of me applying to that school. I knew that I would find ways of paying for it if I needed to. I now understand a lot of those ways that I can pay for college. Through this project I discovered that there are so many more ways to get money for school than I was expecting. When I searched through merit based scholarships I found 93 different scholarship that I was eligible to apply for, of course I wouldn’t apply for all 93 but thats still a lot of chances to have my students loans paid off. I haven’t changed any of my options for colleges but now I know that I should look at some more variables before deciding I want to go to a college, because i’m interested in more than just these three colleges. Loan default rate is an important thing to look at when looking at a college. It shows if the school is too expensive and if students can’t find good jobs after graduating so then they can’t pay for their loans. This is important information for me because it shows two really important things, if a school is too expensive and if students can’t pay for their loans after school because they can’t find good paying jobs. I hope that after I graduate I will be able to find a job that will allow me to comfortably pay off my loans. I think my biggest challenge will be applying for the right loans, I’m afraid that I won’t know which ones to apply for. I also want to make sure that I get as much help from scholarships as possible. It’s important for me to start looking into that as much as possible now. Its hard for me to believe how expensive college actually is, I’m so grateful that I know all the ways that I can get help paying for it.