So I feel like I should start off with a little disclaimer on this one. I had no idea what the, if you'll excuse my vulgarity, hell I was doing for about 90% of this. So it may seem a little bit off but I just wanted to get this done and out o the way, it has just been a stressful week and all I want to do now is just drink peppermint hot chocolate and sleep 5ever to use some slang there. Ya get it because for sounds like 4 and I wanted to emphasize so I replaced it with the number above 4. Aw never-mind, let us just get done with this and move onto the actual point
Now the first way we're going to start with is when you take a subsidized governmental loan. Now the difference between a subsidized and subsidized loan is that subsidized loans don't increase while you are in college, so let's assume you are a good student and don't work throughout all 4 years of college and now you're out of college with 20K on your back and you get a minimum wage job in Michigan. That would bring in a total of around 540$ after taxes (taken from the good rule of thumb that 20% of your pay will be lost due to taxes) and groceries. From there, if you pay off your loans in the recommended 10 years. Then you will be paying a total of about 205$ on a monthly basis which leaves you with about 335$ of money you can use to spend on clothes, entertainment, beer, and other more illegal things I probably shouldn't state in a public blog post.
Now let's move onto the next type of loans, unsubsidized government loans. Now as this one racks up interest in college and you're still the good boy that just studies in college to get that degree. You will now end up with a total post-collegiate debt of somewhere in the ballpark of 24,674$ in loans to pay off. Now fear not, if you still get that super prosperous minimum wage jib and do everything you did before, you'll only lose about 80$ in the switch leaving you still with 253$ left to purchase things other than food. So you will still be pretty well off despite the fact that you have debt on your back
And now we get to the matter of private loans. But you know what, I have something to say about private loans. Don't do them if you can get it all done with government loans. Because companies, no matter how much, apologies for the vulgarity, bs they say about caring about you. They don't care about you, they really only care about making money. So no matter what the contract says it is about their amazingly cheap student loans, there will always be that fine lining that will screw you over for the rest of your life making you a slave to the company because of the rampant corporatism that plagues modern America and the motto of 'greed is, for lack of a better word, good' to quote 'Wall Street,' great movie by the way you should watch it if you haven't already. But my main point is that we don't even need to talk about private loans in this because you could easily get all of this funded by a government loan which will not screw you over and make you a slave to corporations for the rest of your living life.
I believe that is all I have to say on this so goodnight reader.