*Loan,banking and credit>>>college loan

How long did it take you to pay off your college loans? What college did you go to?

My parents are encouraging me to go somewhere very close to our house, but i have my heart set on going somewhere else. They are trying to sell me the idea that i may never pay off my college loans.

It depends on how much you have out in college loans. I know of doctors that are hundreds of thousands in debt by the time they finish medical school.

There is no set answer because you'd have to figure out how much you will need in loans for 4 years or however long you will be in school. It is also possible you could get a Pell Grant, which would NOT have to be paid back.

Do some research and figure out what you're going to need in the way of tuition, room and board, etc. then figure out how much of that you are going to have to finance through loans.

Talk to your school counselor. They frequently have information on student loans, grants and scholarships. One of the good things about student loans is that they are at a much lower interest rate than most other types of loans. However, they can get pretty high after 4 years of college. You're likely to be thousands of dollars in debt before you ever get your first job and there is no way to get rid of a student loan other than to pay it. You can't file for bankruptcy and get it discharged. It will be there until it's paid in full.

They are a Godsend for kids that would not be able to get a college education without them though.