The amount you borrow could be significantly more or less, depending on a number of factors—which school you attend, your own personal resources, and how much of those resources you are willing to use to finance your degree.

Example:

You attend a two-year program whose total Cost of Attendance is $50,000 per year—you could end up borrowing close to $100,000 if your resources are limited and you need to borrow the full amount.

BUT: The debt total only tells part of the story—you need to consider not only the actual amount you may need to borrow, but also the composition of your student loan portfolio. Student loan portfolios are more complex than ever and are often composed of a combination of federal and private education loans, with each of those having different terms and conditions. 

Different loans have different interest rates and fees, as well as different repayment options and other unique terms and conditions. In addition, some loans have grace periods (periods of time when you are not required to make payment), and some offer deferment and forbearance provisions—some offer none of these options.

Some loans are also bought and sold, meaning you will owe a different organization when you enter repayment, and that organization may contract with another organization to actually service your loans.

When borrowing student loans, be sure you understand the terms and conditions of your student loans, including:

• Interest rates
• Capitalization policies (for unsubsidized loans)
• Grace, deferment, and forbearance options
• Repayment options and terms
• Lender and loan servicer

The debt may be high, but the good news is that a variety of repayment options on federal and private loans should help you set up a payment schedule that meets your particular budget needs.