Since it looks like award packages are done I wanted to go ahead and ask this now that I have seen what mine will look like (more than likely). What do you guys consider the threshold that should not be passed when it comes to how large of a loan you take out? According to my financial aid portal, I received $17,315 in free money and the rest in loans. I was looking at accepting the full $3,500 in the form of a subsidized loan (under the understanding I do not pay the interest of this loan?) and paying the rest (projecting $5,000 give or take) out of my own pocket. What do you guys think? Or any educating on the matter is also welcomed. Thanks.
It depends on parental assistance, major, personal willingness, and what kind of job you plan to get when you come out.
@Bo1738 “According to my financial aid portal, I received $17,315 in free money and the rest in loans.”
What does this $17,315 consist of?
@Anthonys621 what would you say is is a good amount of debt for say an engineering major?
What do you expect you parents to help with, the living situation you expect to have after college, the type of engineering? It all is really hard to say. A petroleum engineer could make a drastic difference from a civil engineer. And a person living at home for 2 year after graduation can take on more debt than someone who will not