Quote:
Originally Posted by ScrimpAndSave
I'm sure the minimum payment would be less...we are just estimating on the much higher end to be safe.
I know that a $140,000 student loan debt won't be like $50-$75 a month. It's going to be a hefty payment.
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You shouldn't have to estimate at all. The loan disclosure statements should spell out the exact payment schedule. Have him pull out all the loan documents and you can tally up the actual minimum payments. Then once you know his actual income, you can decide how much above the minimum you want to pay to retire the debt early while still leaving money for savings, buying a home and other needs.