Student Loans?

[Warpnow]

So, I am attending UT Dallas. A damn expensive school for a public school. $5000 a semester in tuition. My pell grant covers $1800 of it, so its around $3000 left after that. My parents can give me the rest, but then there's making rent. Right now I work overnight at Wal-Mart as a recieving associate making $9.20 an hour. Its full time. I wanted part time, but it seems part times job in the area are scarce, as this is all I could after several months of searching. My rent is cheap as hell, under $300 a month with utilities. Add about $50 to that for general items and food, and you have my living expenses. Extremely cheap from what I gather from other students, who seem to spend closer to double or triple what I do.

So my options right now are:

1. Continue working, and hope I can do both school and work.

2. Take a $5400 subsidized loan that's offered to me, and live off of it. Still try and work, and save money, but have enough money in the bank to take care of it if I can't and have to quit. The loan doesn't have to be paid off until after graduation.

Do any of you guys have student loans? I am planning on going to law school, so I realize that at some point soon I'm going to be in debt...but I'm not sure if I want to be so soon.

[hanzomon4]

Loans?!?! NOOOOOOOOOOOOOOOOOOOOOOOO!!!!!!!!!!

Ok really, work no matter what. The loans? if you need them take them. But whatever you do don't quit your job unless you have to relocate or something. I had to leave a job, a good job, to relocate for school. It took me 6 months to find a job! and it's a work study job at that.

[Warpnow]

If you need a job and aren't picky apply at wal-mart. Basically every wal-mart has been or is hiring. I've been here a month and they've brought on 20 people since me.

[DeadSuperHero]

Check if your school supports things like a MAP grant. Also, try scholarships?

If worse comes to worst, take out a small student loan. You don't have to pay them until you either graduate, or drop out, and there's a 6-month window.

[Skripka]

Don't forget a few things:

You have $5000 or so in tuition.

You'll (likely) have around another $1000 in fees per semester-i.e. library fees, IT fees, registration fees, building usage fees to name a few.

Count on about $1000+ of textbook costs per semester as a undergraduate. You can save a bit by shopping used off sites such as half.com etc etc.

Also odds are your current cost of living does not factor in commuting costs...and judging by the figure you quoted you don't have a car-which may be a significant liability or not.


One last bit of food for thought. Depending on your major, can you reasonably be a full time employee and still do a good job at your studies. You're paying a great deal of money for an education, and the education should come first if at all possible in your list of priorities.

[venator260]

I lived completely off of loans and a summer job that got me about 4500 dollars after taxes for 2 years. The amount that you will seem to have after school is paid for sounds like about what I had to work with. Last semester I did get a bit too spendy and have a bit of credit card debt that I'm currently paying down. However, you don't have to fall into that, just get most of your food from the grocery store instead of going out too much.

From the sounds of your situation, you'll be able to do it. Freshman year does not require too too much work, so long as you keep up with it and aren't afraid of doing work on the weekends. And you'll develop a work ethic that I didn't have until my senior year.

... Or maybe parts of my junior year. I was able to compact taking 15 credits into 3 days a week so that I could go out Wednesday and Thursday nights and also have my weekends free. :P

[Messyhair42]

I've got loans still to pay off. Went to Mesa State College in Grand Juction Colorado, among the most affordable colleges in the state. i had most of school paid by family, then i decided to use loans to travel, summer of 07 i went around the world (3 months, 3 continents, lots of plane tickets) and it was the most illimunating experience i've ever had, then after i had 'graduated' i stayed one semester to get another round of classes for another degree and used loans to pay for it. i'm halfway paid off and i've been workig to pay off the loans, but now i'm intent on moving before the loans are paid completely.