<p>If anyone has taken out loans, please share your experiences. I'm looking at ~100k in loans and for a variety of reasons am confident I won't receive financial aid/sufficient scholarships.
Thoughts?</p>
<p>I am confident that no one is going to give you 100k in loans with out a co-signer. Since educational loans are exempt from bankruptcy, you may find a hard time getting anyone (outside of your parents) who would be willing to carry this financial burden for you. If you are able to find some one to lean you this kind of money, it will most likely be a predatory lender with rates and loan payments that you will never get out from under.</p>
<p>You really need to sit down and have the money talk with your parents so that you know now how much they are willing to pay/borrow to finance your education. If they give you a number, don't think that more money will magically appear just because you have been admitted to a school that cost more than they are willing to pay as you will be setting yourself up for a big letdown.</p>
<p>My recommendation is to cast a wide net of schools that include:</p>
<p>A financial safety school, where if accepted you will be happy to attend and is a financially feasible option for your family.</p>
<p>A school where you stand a good chance of getting merit aid.</p>
<p>If your dream school is requiring that you take 100k in loans, it is time to dream a more realistic dream because this one is setting you up for a financial nightmare.</p>
<p>I've GT as my safety in all senses, so certainly no terrible outcomes. I'd just really (^99999) love to go to Caltech.
Other thoughts?</p>
<p>(w00t a power of 2 post #)</p>