# Student Loans for Engineering Degrees

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1. Nov 10, 2008

### whypickthree

hmm

Test

Last edited: Nov 11, 2008
2. Nov 11, 2008

A loan of $64k-80k at 7% for 10 years works out to monthly payment of$740-930. This is simple to calculate (and again, asking other people to do a simple calculation for you is not the hallmark of a successful engineer) The average starting salary for an engineer is about \$4500 a month (asking other people to look up a fact for you is not the hallmark of a successful engineer). It's your decision as to whether 16-20% of your gross salary to pay off loans is a good or bad bargain.