Can you survive on all loans?

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
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mistakepluskeleven
Posts: 74
Joined: Mon Dec 04, 2017 3:56 pm

Can you survive on all loans?

Postby mistakepluskeleven » Mon Jan 08, 2018 6:17 pm

While a full-ride to a fabulous T14 is the dream, I am realistically looking at paying sticker or almost sticker price somewhere on full loans. I know that loans cover living expenses as well, but what about all the deposits and things that happen before you get that first check? How much do you need in the bank to get the ball rolling?

Also - can loans really cover all living expenses? Obviously not ideal to take out so much, but if you have no savings or parents to fall back on, can you survive until that summer associate check comes in?

Thanks!

cavalier1138
Posts: 4938
Joined: Fri Mar 25, 2016 8:01 pm

Re: Can you survive on all loans?

Postby cavalier1138 » Mon Jan 08, 2018 7:14 pm

Don't pay sticker.

But regardless, you'll probably have to take out loans for COL. How much you need before that is entirely dependent on whether you're moving, where you're going to be living, and your school's specific deposit fees.

kiklavan
Posts: 220
Joined: Mon Jun 05, 2017 1:17 pm

Re: Can you survive on all loans?

Postby kiklavan » Wed Jan 24, 2018 2:18 am

I also want to know the answer to this. + How much CAN we take out in loans?

mcmand
Posts: 774
Joined: Thu Jun 05, 2014 12:45 pm

Re: Can you survive on all loans?

Postby mcmand » Wed Jan 24, 2018 3:49 am

kiklavan wrote:I also want to know the answer to this. + How much CAN we take out in loans?


Only tuition + the amount from the cost of living formula on your school's website. Not a cent more. It's not a blank check.

You can get extra for a computer purchase, or childcare, or unexpected medical expenses, but that's about it.




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