The following data is cacluated through bankrate.com. We approximated that tution would be $5,000 a year and we assumed that we would finish in four years. Making the total cost $20,000. We googled Government subsidized and unsubsidized student loans. Along with a private bank. Private banks vary so for this blog post we used Citizens Bank.
Government Subsidized Student Loans
Interest Rate: 4.60%
Monthly Pay: 103.25
Total Time: 30 years
Total Interest: $17,170
Government unsubsidized student loans
interest rate: 6.8%
Monthly pay: $119.92
Total Time: 30 years
Total Interest: $26,294.24
Private Bank: Citizens Bank
Interest Rate: 10%
Monthly Pay: 175.52
Total Time: 30 years
Total Interest: 43,168.39
Government Subsidized Student Loans
Interest Rate: 4.60%
Monthly Pay: 103.25
Total Time: 30 years
Total Interest: $17,170
Government unsubsidized student loans
interest rate: 6.8%
Monthly pay: $119.92
Total Time: 30 years
Total Interest: $26,294.24
Private Bank: Citizens Bank
Interest Rate: 10%
Monthly Pay: 175.52
Total Time: 30 years
Total Interest: 43,168.39