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I know that the student budgets published by schools are for the academic year only. My question is when you take out full COA loans do you simply have to budget the loans out to 12 months and live like a pauper or am I missing something here?

For example:

BC lists living expenses as being $17,790 for the months of Sept. 2011 - May 2012. Am I forced to in essence live on $1482/month? That seems difficult in a city like Boston or NYC.

freaknroll wrote:I know that the student budgets published by schools are for the academic year only. My question is when you take out full COA loans do you simply have to budget the loans out to 12 months and live like a pauper or am I missing something here?

For example:

BC lists living expenses as being $17,790 for the months of Sept. 2011 - May 2012. Am I forced to in essence live on $1482/month? That seems difficult in a city like Boston or NYC.

As far as I know, COA calculations are based off of the school year months, not the summer months. So, August through May.

stephinmd wrote:

freaknroll wrote:I know that the student budgets published by schools are for the academic year only. My question is when you take out full COA loans do you simply have to budget the loans out to 12 months and live like a pauper or am I missing something here?

For example:

BC lists living expenses as being $17,790 for the months of Sept. 2011 - May 2012. Am I forced to in essence live on $1482/month? That seems difficult in a city like Boston or NYC.

As far as I know, COA calculations are based off of the school year months, not the summer months. So, August through May.

I know that, and stated that above. My question is do students typically ration out loans over 12 months instead of 9 so that they don't run out of money?

You'd be working over the summer right?

freaknroll wrote:

stephinmd wrote:

freaknroll wrote:I know that the student budgets published by schools are for the academic year only. My question is when you take out full COA loans do you simply have to budget the loans out to 12 months and live like a pauper or am I missing something here?

For example:

BC lists living expenses as being $17,790 for the months of Sept. 2011 - May 2012. Am I forced to in essence live on $1482/month? That seems difficult in a city like Boston or NYC.

As far as I know, COA calculations are based off of the school year months, not the summer months. So, August through May.

I know that, and stated that above. My question is do students typically ration out loans over 12 months instead of 9 so that they don't run out of money?

It depends. Schools like NYU give students a stipend (4500) for authorized 1L summer employment, which helps to cover the cost. If yours doesn't then you're going to want to ration it for 12 months, yes.

freaknroll wrote:

stephinmd wrote:

freaknroll wrote:I know that the student budgets published by schools are for the academic year only. My question is when you take out full COA loans do you simply have to budget the loans out to 12 months and live like a pauper or am I missing something here?

For example:

BC lists living expenses as being $17,790 for the months of Sept. 2011 - May 2012. Am I forced to in essence live on $1482/month? That seems difficult in a city like Boston or NYC.

As far as I know, COA calculations are based off of the school year months, not the summer months. So, August through May.

I know that, and stated that above. My question is do students typically ration out loans over 12 months instead of 9 so that they don't run out of money?

You can do that, or get a summer job, or live at home with your parents, etc.

stargazin wrote:You'd be working over the summer right?

I would be working 1L summer and hopefully SA'ing 2L summer, but to my understanding very few 1L's get paying summer work.

freaknroll wrote:

stargazin wrote:You'd be working over the summer right?

I would be working 1L summer and hopefully SA'ing 2L summer, but to my understanding very few 1L's get paying summer work.

Depends on the school. There are good PILF programs that provide support, as well, especially when you can go abroad and live on the grant money (2L tour guide went to Budapest for his summer on a $4k PILF grant, for example).

--LinkRemoved-- for BC.

ETA: tour guide was not at BC, just for clarification.

Yes, stipends could definitely help you. RAing also an option if you really need something paid.

freaknroll wrote: BC lists living expenses as being $17,790 for the months of Sept. 2011 - May 2012. Am I forced to in essence live on $1482/month? That seems difficult in a city like Boston or NYC.

I lived in Boston for 7 years for school and was on a budget of $1500/mo for 6 of those. I wasn't dropping $5 tips on drinks, but I never felt like I was strapped for cash.