Are loan repayments capped at a maximum amount per month?
Posted: Mon Mar 29, 2010 4:21 pm
So I'm a total financial noob. I'm trying to attend law school near the market I want to work in, and it's where my family is from. The question is simple, lets say I take out 150k for loans. Now my parents would have no problem with me moving back home after law school, so could I do that and just essentially devote every dollar I make to paying off my loans at an accelerated rate, then eventually move out after I take care of my debt? Or do you have a monthly maximum payment, so the banks can make more cash money off you?
Sorry if it's a dumb question, but If I can do this.. debt isn't going to be nearly as big a factor in my law school selection. (And yes, this is assuming I land a job that's commutable, which I'm pretty sure will be a safe bet).
Sorry if it's a dumb question, but If I can do this.. debt isn't going to be nearly as big a factor in my law school selection. (And yes, this is assuming I land a job that's commutable, which I'm pretty sure will be a safe bet).