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Author Topic: What's a good number?  (Read 582 times)

Superman

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What's a good number?
« on: July 25, 2006, 10:52:41 PM »
So, my tuition is roughly $29,000 (part-time program), and cost of living about $15,000.  I figure in addition to that 44K I will need about 10K more for miscellaneous expenses including food, books, and leisure.  So, assuming I get approved for the full amount in Stafford loans ($18,500), it looks like I am going to need roughly, 35K in private loans.  Does this seem like an absurd amount?  Is this what people out there are doing? Is there a huge difference if I take out 35K vs. 36K a year? 

Am I getting myself into a world of hurt?


bass

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Re: What's a good number?
« Reply #1 on: July 25, 2006, 11:17:19 PM »
schools usually set an overall student budget, which is a good guideline.

bass

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Re: What's a good number?
« Reply #2 on: July 25, 2006, 11:23:35 PM »
schools usually set an overall student budget, which is a good guideline.

29k + 15k not including books or FOOD seems rather high to me regardless of where you're going... but maybe I'm out of the loop.

It does seem high.  HLS sets the budget at like 56K I think.

bass

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Re: What's a good number?
« Reply #3 on: July 25, 2006, 11:32:45 PM »
The point I was trying to make is that we are taking shots in the dark.  His school probably has a guideline, and it makes sense to follow that.

If he's going to school in New Hampshire, sounds ridiculous.  If NY, then maybe less so.

Mr. Burnz

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Re: What's a good number?
« Reply #4 on: July 26, 2006, 05:17:35 AM »
You can't borrow private loans in excess of your cost of attendance MINUS financial aid (grants/staffords/etc).  So it's not really how much you want or need to borrow, it's how much the school budgets for you to borrow...in most cases, this is a significantly lower number than the true cost.  Look around on your schools website--most all of them have the ocst of attendance itemized.