Loans covering your meal ticket

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
erniesto
Posts: 298
Joined: Thu Oct 15, 2009 10:56 pm

Loans covering your meal ticket

Postby erniesto » Thu Mar 18, 2010 12:28 am

What are your thoughts on factoring in food costs in your overall financial aid package?

Does anyone else think its a bit ridiculous to be complacent with accruing interest (at rates larger than a decent car loan) on such a necessity?

Is it a catch 22 to have grades suffer while you work up the scratch to eat well on a daily basis?

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TheBigMediocre
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Joined: Wed Feb 11, 2009 5:53 pm

Re: Loans covering your meal ticket

Postby TheBigMediocre » Thu Mar 18, 2010 12:34 am

Unless you plan on planting a garden in your backyard and eating only from that or have money in your bank account set aside for food, wouldn't budgeting for food in your loan package be a necessity?

Do you mean budgeting in extra money for eating out or pricier items?

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General Tso
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Re: Loans covering your meal ticket

Postby General Tso » Thu Mar 18, 2010 12:35 am

erniesto wrote:What are your thoughts on factoring in food costs in your overall financial aid package?

Does anyone else think its a bit ridiculous to be complacent with accruing interest (at rates larger than a decent car loan) on such a necessity?

Is it a catch 22 to have grades suffer while you work up the scratch to eat well on a daily basis?


I don't really eat well and have done fine so far. My school has a great dining hall with tons of good food. Problem is its expensive...about $6.00 for a sandwich and chips. It's fine every once in a while but 90% of the time I just bring a snack and eat lunch when I get home at around 2 pm usually.

erniesto
Posts: 298
Joined: Thu Oct 15, 2009 10:56 pm

Re: Loans covering your meal ticket

Postby erniesto » Thu Mar 18, 2010 12:43 am

No. I mean are you really ok with taking out a loan (with mediocre interest rates) to buy food?

Assuming you don't have parental funding, inheritance, are good at sponging or a savings account the only other option is to work two days a week, which might mean your grades decline.

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General Tso
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Re: Loans covering your meal ticket

Postby General Tso » Thu Mar 18, 2010 12:48 am

erniesto wrote:No. I mean are you really ok with taking out a loan (with mediocre interest rates) to buy food?

Assuming you don't have parental funding, inheritance, are good at sponging or a savings account the only other option is to work two days a week, which might mean your grades decline.


sure take out the money. if you really want to save you can eat on around $5 per day. try to follow the diet of a 3rd world person...cereal/oatmeal for breakfast, rice and beans for lunch & dinner. cheap meat is not good for you anyway.




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