{"id":6234,"date":"2019-10-02T20:55:30","date_gmt":"2019-10-03T00:55:30","guid":{"rendered":"https:\/\/www.ucf.edu\/financial-aid\/?post_type=faq&p=6234"},"modified":"2024-03-26T10:46:59","modified_gmt":"2024-03-26T14:46:59","slug":"how-much-should-i-borrow-so-that-i-know-i-can-afford-to-pay-it-back","status":"publish","type":"faq","link":"https:\/\/www.ucf.edu\/financial-aid\/question\/how-much-should-i-borrow-so-that-i-know-i-can-afford-to-pay-it-back\/","title":{"rendered":"How much should I borrow so that I know I can afford to pay it back?"},"content":{"rendered":"

Planning ahead is essential to managing debt. If you plan to borrow each year you are in school, estimate the total amount you will borrow. Then use the Federal Student Aid Estimator<\/a> to estimate how much federal student aid the student may be eligible to receive. Then decide how much to borrow, you can use the criteria lenders use when they consider an applicant\u2019s ability to repay.<\/p>\n

The total monthly payment for all debts should not exceed 8% of your gross monthly salary.<\/p>\n","protected":false},"template":"","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"tags":[44,22],"class_list":["post-6234","faq","type-faq","status-publish","hentry","tag-federal-direct","tag-loans","topic-types-of-aid"],"yoast_head":"\nHow much should I borrow so that I know I can afford to pay it back?<\/title>\n<meta name=\"description\" content=\"Planning ahead is essential to managing debt. If you plan to borrow each year you are in school, estimate the total amount you will borrow. 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