Help me with real cost? Forum

[middleawkward123]

.

[Nachoo2019]

Hello!

My net cost just for tuition (excluding tuition increases and books) for all 3 years is $66,589.
If I plan to take out federal loans, how much total will I owe with the interest?

Thank you!

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[mvp99]

67k, Not bad. I don't think you should take on more loans if you don't have to, unless you can invest your own money and earn more than 6% ROI without substantial risk. School?

[fiercegoldfish]

Hello!

My net cost just for tuition (excluding tuition increases and books) for all 3 years is $66,589 ($22196/year).
Which is the better loan? Federal Graduate Plus Loan ($27,800/yr.) or Direct Unsubsidized Loan ($20,500/yr.)?
1) If I plan to take out only one of these loans, how much total will I owe with the interest (assuming that the rate doesn't change next three yrs.)?
2) Even though I have my living expenses saved up, should I still take out both plus and unsubsidized loan?

Thank you!

This is back of the envelope(ish) but...

GradPlus is 6.84% and Direct Unsub. 5.84%. Assuming simple interest during school and compound thereafter, 10 year repayment period with no prepayment, and the numbers you mentioned...

GradPLUS: $94,809 upon graduation, $131,161 after repayment
Direct Unsub: $68,683 upon graduation, $90,842 after repayment

*Note: This does not take into account any fees associated with the loans, and also uses "real cost" to mean total dollar cost of repaying the loan (no opportunity costs or similar are included)