Student loans

I need to learn about student loans. Specifically one paid with both a Stafford and a graduate PLUS loan.

I want to be a professor in theater acting. It's gonna cost about 150-170k to get the Masters needed to get that kind of job. I already got into a pretty presigious masters program, it's a dream come true that I got in but that's the price I'm looking at. I start in the fall.

Can I pay this over a very long period? Can I pay $1000 a month for the next 30 years and increase it to like. $2000 a month once the professorship job happens and is stable and be ok? Professors in theater make $69,000 to 130,000 according to google. I don't know what the average is but I'm betying it's in the lower end of that spectrum.

I'm willing to live in a shoebox apartment with a flip phone and no car. I'd rather do what I love than be rich because I'll be dead in 60 years anyway, that's just the kind of person I personally am.

My job is to refinance student loans, plus loans, etc. You should be able to defer your loans until graduation and if the term is too short after the deferment period ends you can then refinance them into a 20 year period. If you want an estimate on the cost it will be go to calculator.net and head to the amortization calculation on the website. Then enter in the price of your loans and interest rate you think you will get. I work at sofi a refinance company you can check their rates there if you want for an idea on rates but will give you ball park figure on what the monthly payment will be. You can always pay more than the monthly to pay it off sooner as well.

Read the loan agreement. It differs from loan to loan. Most student loans have a 10 year term I think.

>Professors in theater make $69,000 to 130,000 according to google

Seriously?
No hate, just serious surprise for me that a professor in acting is actually paid so well. Most graduates in this field are either working in a different field or "day to day" from my experience.

Why the fuck would a theater acting title cost 170k? Why would someone spend 20 years of his life paying for a theater title?

Its like paying for a macrame engineering degree.

>Professors in theater make $69,000 to 130,000 according to google
Thats higher than most STEM degree starting salaries. It wont happen.

All i'm gonna say is REALLY make sure your want to do this as a career and that you have some connections to get a job in this. It seems very niche, make sure you want to take out such a big loan on it.

I'm curious about the graduates you know. Because the numbers I gave is if you're in a solid position and udually on tenure track or in a union. If youre adjunct you're gonna make less I imagine.

I know. I expect the staring salary to be 55-60k.

Professors might be in this "comfy" position. Question is how possible it is to end up in such a position.

Luck and working at the same place for a long time? That and because the teachers union are pretty powerful