Amount of Loans for a Low Tier 1 School

(Rankings, Profiles, Tuition, Student Life, . . . )

Amount you would take out in loans for a low T1?

$0-$15,000
11
13%
$15,001-$45,000
13
16%
$45,001-$70,000
16
19%
$70,001-$90,000
20
24%
$90,001-$125,000
16
19%
$125,000-$200,000
7
8%
 
Total votes: 83

marshalltucker
Posts: 35
Joined: Tue Jan 05, 2010 9:38 pm

Amount of Loans for a Low Tier 1 School

Postby marshalltucker » Tue Jun 15, 2010 8:10 pm

Hypothetically, how much in loans would you be willing to take out for a low Tier 1 school (Wake Forest, George Mason, Tulane, SMU, Florida, and the like)? I am talking about total over 3 years including cost of living, tuition, books and everything.

Aqualibrium
Posts: 2011
Joined: Tue Feb 24, 2009 5:57 am

Re: Amount of Loans for a Low Tier 1 School

Postby Aqualibrium » Tue Jun 15, 2010 8:12 pm

ZERO...loans suck.

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twert
Posts: 414
Joined: Sun Jul 19, 2009 6:13 pm

Re: Amount of Loans for a Low Tier 1 School

Postby twert » Tue Jun 15, 2010 8:13 pm

i would take out 70ish for cost of living. i would not pay tuition at any of those schools.

marshalltucker
Posts: 35
Joined: Tue Jan 05, 2010 9:38 pm

Re: Amount of Loans for a Low Tier 1 School

Postby marshalltucker » Tue Jun 15, 2010 8:17 pm

twert wrote:i would take out 70ish for cost of living. i would not pay tuition at any of those schools.


I did not mean to imply that any one of these schools was necessary what I was referring to specifically, just that that was the range of schools I was curious about and they were some of the first to come to mind.

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twert
Posts: 414
Joined: Sun Jul 19, 2009 6:13 pm

Re: Amount of Loans for a Low Tier 1 School

Postby twert » Tue Jun 15, 2010 8:30 pm

marshalltucker wrote:
twert wrote:i would take out 70ish for cost of living. i would not pay tuition at any of those schools.


I did not mean to imply that any one of these schools was necessary what I was referring to specifically, just that that was the range of schools I was curious about and they were some of the first to come to mind.

i would not pay full tuition for anything outside of the T6, and i don't say that as an elitist, i'll be going to chapman next year

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jayn3
Posts: 667
Joined: Tue Jan 12, 2010 5:21 pm

Re: Amount of Loans for a Low Tier 1 School

Postby jayn3 » Tue Jun 15, 2010 8:37 pm

i came close to accepting a full ride at a low T1. then i realized there is nothing in the world worth limiting myself to that region for likely the rest of my life.

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mec30
Posts: 158
Joined: Wed May 26, 2010 3:24 pm

Re: Amount of Loans for a Low Tier 1 School

Postby mec30 » Wed Jun 16, 2010 9:03 am

You could support 90k worth of loans with a job that pays around 70k.

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Grizz
Posts: 10583
Joined: Mon Jan 04, 2010 6:31 pm

Re: Amount of Loans for a Low Tier 1 School

Postby Grizz » Wed Jun 16, 2010 9:14 am

mec30 wrote:You could support 90k worth of loans with a job that pays around 70k.


More likely from these schools you'd be competing for a lot of jobs paying $30k-$50k (FL comes to mind).

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Grizz
Posts: 10583
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Re: Amount of Loans for a Low Tier 1 School

Postby Grizz » Wed Jun 16, 2010 9:16 am

Depends on the school, but barely any at all. $70k max.

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goawaybee
Posts: 114
Joined: Sun May 16, 2010 11:20 pm

Re: Amount of Loans for a Low Tier 1 School

Postby goawaybee » Wed Jun 16, 2010 1:50 pm

Aqualibrium wrote:ZERO...loans suck.


THIS.

but I am not sure I would say zero. depends on what you plan on doing with the rest of your life. Tuition, books etc...all falls under the necessary cost where as there are many things that you can tweak in regards to COL choices. The COL stuff is where you can get hung, all my undergrad loans were used for very enjoyable missions bachelor party in vegas, 3 months in south america for internship (vacation) etc...I could justify that then but at this point it would not happen. Again those are at 2.875% locked. All good, now taking out money at 6.8% for the life of the loan...different monster all together. As long as your back ups have back ups you can go as far into the debt pit as you would like. I just feel that without extensive planning and leaving a hefty amount of room for all the variables you can't control (over all state of economy and or legal field upon graduation, random life shit that can cost you 5k-100k that you didn't see coming) just a frisky thing to speculate on.

Florida vs NO vs Winston Salem vs Dallas. could be 8k a year to scrape by or 15k which translates into a chunk over the repayment period. Now cost of tuition vs. placement and career options, that is the BIG CAN O' WORMS I don't open. Leave that to the rest of the TLS ninjas.

marshalltucker
Posts: 35
Joined: Tue Jan 05, 2010 9:38 pm

Re: Amount of Loans for a Low Tier 1 School

Postby marshalltucker » Wed Jun 16, 2010 1:59 pm

Hmmm, I was expecting people to generally vote around the $90k mark. I expect to be taking out around $70k or so for a school a tad above this range next year if I decide to attend where I'm currently looking. Thought that was pretty good til now...

NOTE: Not attending this year, but looking at UGA/Alabama and a few schools in the range I mentioned above (fairly certain I can get in). Also, not necessarily looking for advice so much as curious as to how people view the debt situation at this tier of schools.

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Grizz
Posts: 10583
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Re: Amount of Loans for a Low Tier 1 School

Postby Grizz » Wed Jun 16, 2010 5:15 pm

marshalltucker wrote: Also, not necessarily looking for advice so much as curious as to how people view the debt situation at this tier of schools.


3 words

DANGER WILL ROBINSON!

marshalltucker
Posts: 35
Joined: Tue Jan 05, 2010 9:38 pm

Re: Amount of Loans for a Low Tier 1 School

Postby marshalltucker » Sat Jun 19, 2010 7:46 pm

10 to 10 to 10 to 11 to 10, wow thats close. (shameless bump)

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AR75
Posts: 96
Joined: Wed Jan 24, 2007 11:59 pm

Re: Amount of Loans for a Low Tier 1 School

Postby AR75 » Tue Jun 22, 2010 9:56 pm

If you didn't have enough money, I'd recommend taking out enough to pay for everything. It's hard to get things when you don't pay for them.

Cheers,

Ken

yo!
Posts: 653
Joined: Tue Oct 14, 2008 11:11 pm

Re: Amount of Loans for a Low Tier 1 School

Postby yo! » Tue Jun 22, 2010 10:03 pm

I'm taking around 100 to attend a mid t1. I'm terrified that it's the wrong decision, but only time will tell....




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