If you’re taking out student loans to attend college it’s crucial to have a plan of repayment. Here is a repayment estimator provided by the Department of Education:
After filling out your loan balances, your tax filing status, and your estimated income after graduation you’ll get a page that looks like this:
This page shows you different repayment plans you’ll have to choose from, along with the repayment period, monthly payments, total interest, and total amount payed. It’s very important to see what your future would look like if you take out a large amount of student loans, and to know how much of your paycheck you’d be giving up as an adult (and if you can afford to give up that much).