<p>Hey everyone,</p>
<p>I'm wondering if I'm missing any opportunities to lower my college bill...I'm projected that I'll have $60k of debt, assuming I don't start paying off any debt until I'm out of school (though I think I would start ASAP). This takes into account my financial aid package and my parents contributions.</p>
<p>I'm being left with around $17k per year, it seems, and if I get any scholarships, the school says they will use it to replace part of my financial aid package, so it doesn't look like scholarships are going to help me cut into that 17k. </p>
<p>I'm not considering the army, etc...though the Coast Guard seems like a VERY VERY distant possibility. </p>
<p>And, well, I really have no savings, so that's out of the question.</p>
<p>Are there any opportunities I am overlooking that could help lower my end bill?</p>
<p>Going to a college that's cheaper such as an instate public that's within commuting distance.</p>
<p>I would be hardpressed to think of situations in which carrying so much debt for one's undergrad education would be worth it.</p>
<p>I don't recommend that kind of debt -- so some ideas to lower the amount that you have to borrow:</p>
<p>summer earnings -- work your butt off and make $4,000+. working two full-time jobs instead of playing video games will be a drag -- but you will love graduating $16,000 less in debt at the end of four years.</p>
<p>job during the semester -- studies have shown that students who work 10-12 hours a week during the school semester actually get better grades than those who don't work at all. if you don't qualify for work-study, there are usually tons of other on-campus jobs. ($8/hr x 10 hrs a week x 32 wks/yr = $2500)</p>
<p>be an RA after the first year -- save a ton on housing, depending on the school (~$3000/yr)</p>
<p>buy used books online and sell them back (~$500/yr)</p>
<p>outside scholarships -- usually schools will replace loans and/or work-study before reducing grants. </p>
<p>Reduce your spending -- be very careful with your money while in school.</p>
<p>without any outside scholarships -- I added up all the estimates that I indicated above (including 2 years as an RA) and it adds up to $33,000+. This would leave you with $27,000 in debt -- which is actually manageable.</p>
<p>As far as paying the loans off: "I'll have $60k of debt, assuming I don't start paying off any debt until I'm out of school (though I think I would start ASAP" If you don't have the money to pay for school, where would you get the money to pay back the loans? You are better to pay your expenses rather than take money to pay loans and then borrow more money.</p>