Students can take advantage of FHA loan calculator to calculate their own FHA student loans and determine how much they will need to pay back with monthly payments, according to a new survey.
The survey of more than 1,000 students conducted by the National Student Loan Data Center found that about 55 percent of students would consider taking out a FHA home loan and that just 19 percent of FHAs borrowers were making monthly payments on time.
Students with incomes under $40,000 were also more likely to have an FHA than FHAS loan.
The National Student Loans Data Center, a nonprofit research and analysis organization, also found that the median annual payment for students who had a FHSA was $6,600, while the median for FHIs was $17,000.
Students also were more likely than their peers to be able to take out a home mortgage on their home, with about 58 percent of the respondents making at least $100,000 a year and a median monthly payment of $3,800.