So I recently got into San Jose State University and I want to dorm there because the drive is 26 miles from where I live(Fremont). But my parents say it’s too expensive. Is it worth getting student loans and dorm there or should I stay at home and drive back and forth?
The reality is that as a freshman you can only borrow 5500 in federal loans by yourself. Is that enough? Anything more will require a private loan which will need a co-signer. Will your parents co-sign a loan? Have you and your parents calculate the true cost of commuting as opposed to living on campus? Providing a car with insurance, paying for parking and feeding you at home has a cost. Are you willing to give up the car (maybe also sell it) and be taken off the insurance (which means no driving the family car) in exchange for living on campus? Are you willing to cook to avoid the meal plan cost. Would you consider a triple room to lower the cost? How long will a 26 mile commute take? How much time will finding parking take? How demanding is your course load? How much would you need to borrow? All these factors have to be considered.
As a parent, I feel that there is a benefit to living on campus the first year. There are many benefits both academically and socially. However, it is a luxury that many just can’t afford. Is this worth the debt? It will depend on the amount and the overall impact to your education. The vast majority of students commute and do fine.
Do your parents pay for your car and gas and let you live at home for free and feed you. clothe you etc? Laundry, meals?
Live at home with all the benefits. If you get a job that pays you enough to live out, then consider it, it sounds like a commuter school, you won’t be missing out on a dorm experience if the majority of kids commute anyway. Meal plans often cost $10 per meal if a meal plan is obligatory to residential students, do you want to borrow money for that?
I was a commuter student for 6 years (OK, 3 different colleges - don’t ask) and did a 22+ mile commute for my last 3 years. It’s not the end of the world. You just have to be smart about planning your classes (maybe not having class every day, or not having huge gaps between classes). I was also working part-time, so I could buy lunch and/or dinner (yep, had night classes, too) on or around campus. It was basically a commuter campus way back when, so the option of dorming it wasn’t there. While living on campus has many benefits (convenient, easier to make friends and be a part of clubs and organizations), it’s just not an option financially for a lot of students. You learn to adjust your expectations.
Being a commuter student IS very different from living on campus, but so is having $$$ in debt. Look at the commute time, parking situation at school, etc., so you are fully prepared should you go that route.
Another option is to talk to your parents about dorming freshman year. You will make more friends this way and get more into campus life. Then sophomore year if you need to commute, you will have a “dorm” base you can hang out in with your friends.
Also do a spreadsheet with costs for commuting vs. dorming.
Let’s say dorming is 10,000 but commuting is 2,000 (gas, buying lunch on campus, parking, etc).
You could take out a loan for $5500 and ask your parents if they would take out a loan for the rest…but would they cover the amount (e.g., 2000) that they would have spend on commuting.
Another thing to think about is can you get a work study job at school…then make some money with your time instead of spending it on commuting home.
Living on campus has its merits, but it’s simply not worth taking out loans for. At this stage of your life you have to be very careful with finances. Once you have a job and good income things are different, but right now taking on debt is like shooting yourself in the foot.
@bopper- I hate to break this to you but dorms are not the zenith of friendship building.