Loans and School?

[urban.star.dust]

Before school started, I wanted to live on campus. But since I didn't get enough loans and such, I couldn't do it (I would only have enough for food).
With my school, there is no Room & Board combination, only the Room.

So since this month and the next, everyone is supposed to choose their Spring Course. I'm still working on that part though. At the moment, I have to pay around $100/month for gas which sucks big time since the University is on the other side of town (I live on the South West while the school is on the North West.....like 15 minutes away).

I don't work because that would just be too much strain on me since I have to take no less than 12 credit hours. I was/am supposed to do 15 but I doubt that I could handle that much. Not to mention, that I have like the same amount of loan $$$$ and grants. But what really gets me is that even though I have that, it is like $7000 off of the Cost of Attendance.

What I'm asking is that since I think that there might be openings for Housing in the Spring, should I apply? The cost for that is like $475/month each for a 4 bedroom 2 bath apartment (around $5000/year). It is like a 10-15 min walk to classes even though it is apart of the campus though.

I mean, I live at home right now, and it's nice to have free room and some free food lol. The thought of living on campus sounds so nice, but then theres the loan problem.......

I would have to take out another loan; one other than the two Stafford Loans that I already have. This one would be like a $5000. And that's more that I have to pay back after I graduate.

Should I take out the loan and live on campus for the Spring Semester (January-May) or just continue to live at home?

[demoipourvous]

Umm...I have to admit that I don't really get the whole loans thing (I don't think we have this sort of service, if it's called that, available in schools here) but from everything else that (I think) I understood, don't you think it would be better if you just continued to live at home? As it is, you're in a financial crunch, right? How would taking out a loan help? At 475/month for housing versus 100/month on gas but you still get a free roof over your head and meals...wouldn't staying at home for the moment be better?

Just thinking...please correct me if I'm wrong.

[katzluva]

Hm, well going to college is never truely the experience without real freedom from home. During my four years, I lived in an apartment near by campus and about 80 miles from my parents...and it was soooo great! I could eat what I want, stay up as late as I wanted, and all that good college stuff. But here's the downside...I graduated, and now in BIG debt (about $40,000 I owe in loans). Was it worth it...? I would think so. I guess it's a wager for you. If living at home is fine by you, then save some money. But if you wanna experience college, then rent.

[demoipourvous]

OMG! $40,000 in loans? How long will that take to be paid off?

[urban.star.dust]

Originally Posted by demoipourvous

Umm...I have to admit that I don't really get the whole loans thing (I don't think we have this sort of service, if it's called that, available in schools here) but from everything else that (I think) I understood, don't you think it would be better if you just continued to live at home? As it is, you're in a financial crunch, right? How would taking out a loan help? At 475/month for housing versus 100/month on gas but you still get a free roof over your head and meals...wouldn't staying at home for the moment be better?

Just thinking...please correct me if I'm wrong.

I understand what your saying, but when I say that I live across town...........I really live across town. And it takes 15 minutes for me to get there and that's now (Before it begins to snow).

I mean I am most likely going to be in debt no matter what since I do not get enough to make the Cost of Attendance for school. Yeah, it sounds bad, but it really is true. I already take out $5000-6000 yearly and that definately is not enough.

But there is one option though. Me and two of my friends really want to move out of their house. So.......we were thinking about renting out an apartment. There is one place that would cost us a lot if we get one by ourselves, but together it would be like $150/ month.

I kind of just want to live on campus because of the benefits. Just by living there, I could have more access to tutors, the library (I'm going to need it), the Studios (I'm going to take art classes next semester so I'm going to be in there like all day), I could just walk to my place, and meeting more people.

[GahXin]

I would suggest living at home, thats what i do. I take the subway every day to school (2 hours outta my day) so yeh imma commuter. I save alot of money, and i get home cooked meals