[Let's not forget the heavy financial burden our learners must carry - ray]
Interest rates for a federal student loan range anywhere above 2.5% to 6% and are the loan type of most student loan holders. Private student loans are next in popularity to federal loans and generally run higher with a broader interest range, varying from 3% to 13%. With student loan rates more than doubling since the 1980s, today's most educated individuals are less likely to own their car or home before the age of 35. Using the above numbers, a rough calculation of how much a recent college graduate will pay within 10 years of graduation is twice as high as the average entry-level position's salary. Consistently paying off your debt in monthly installments in the amounts of $300 is good for your credit but will only prolong your debt. Over a 10-year course, you will still roughly spend $40,000 in attempts to eventually pay off your student debt.
