How can I manage my student loan debt?

I'm gradutating this spring with a BFA in advertising art direction from a prestigious art school in NYC. The starting salary in our industry is around $35,000 - $40,000. I have a student debt of about $50,000. How can I pay this off at a reasonable rate and still be able to afford an apart in NYC? Is there anybody else in my situation? Is $50,000 too much debt for an undergrad?

How can I manage my student loan debt?

Consolidating your student loans might be a good idea. When you consolidate, you can extend the term of repayment up to 30 years (depending on how much you owe). This gives you the cushion of a lower monthly payment. However, it means you will end up paying more interest over the life of the loan.

Sallie Mae has a calculator that will let you try different options and see what your payments will be. http://www.salliemae.com/after_graduatio...

How can I manage my student loan debt?

Its not that much; coinsolidate your debt using sallie mae and pay it off over 30 years.

The interest rates are very low, ands it will help you build your credit.

Getting an Apt in NYC on your salary, ur on your own with that one.

How can I manage my student loan debt?

consolidate your student loans, and get a fixed interest rate and find a job.. :)

it'll take you about 10+ years to pay it off. If you have a little extra money, pay more than expected every month toward the loan. The faster you pay off the loan, the better.. Depending on what type of loans you have you're actually paying something like $7,000 - 10,000 in interest stretched out over 10 years... so add that to your $50,000.. They'll give to an overall number in your statement.

yeah, that's why they're evil. Kinda like a racketeering business.

How can I manage my student loan debt?

Please don't consolidate with sallie mae, use a different lender. 50,000 is much, since I have 8000 in undergraduate loans. anyway, consolidate is good and maybe think about selecting income contigency. you payments will vary by your annual salary. Also, getting a roommate could not hurt either.