step 3. It will take 21 many years typically to repay beginner fund

step 3. It will take 21 many years typically to repay beginner fund 2. Student loan attention ingredients everyday. Let's say you graduate with the average amount of debt ($29,800) and the average annual interest rate of 5.8%. Since interest on student loans compounds daily, that means the day after graduation, you would owe an additional $4.74 for a new balance of $29,. The day after that, interest would be re-calculated considering the new equilibrium and charged again. After a month, the total interest added to your loan payment would be about $150. And like a snowball ...