How Much Debt is TOO Much? WHEN MONTHLY STYDENT LOAN PAYMENTS EXCEED 8 TO 10% OF GROSS MONTHLY INCOME IT IS WIDELY CONSIDERED AS HAVING TOO MUCH DEBT IS BAD DEBT |
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| Bad Debt - Too Much Debt!
Unconsolidated Federal Student Loan @6.8% 10 Years
Monthly student loan payment as a percentage of gross montly income 13.48% |
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| Good Debt - Manageable Debt
Consolidation Loan @ 6.875% 30-Years
Monthly student loan payment as a percentage of gross montly income 7.70% Monthly student loan payment as a percentage of gross monthly income with discounts and monthly payments of $751.36 7.04% |
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