When does it make sense to take out student loans?

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Posted by Cyrus Eosphoros (MONEY FORUMS: 1, Answers: 0)
Asked on October 29, 2015 10:47 am
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Cyrus, in addition to Beth's response, I would also add that in many cases you have a six month window, after graduation, before you have to start paying your first installment. Which is a good cushion to have when it comes to looking for the right job. The interest rates can be a little bit higher in some cases.
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Posted by Arindam Nag (MONEY FORUMS: 0, Answers: 2)
Answered: October 31, 2015 8:34 am
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Cyrus, this is a bit of a loaded question, as there are many variables that should be considered. Generally speaking, it depends on your future job prospects. The rule of thumb is that you should be comfortable borrowing up to your expected first year's income. That way, your loan payments (for federal loans) will be manageable post-graduation.
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Posted by Beth Tallman (MONEY FORUMS: 1, Answers: 61)
Answered: October 30, 2015 8:54 am
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