<p>Hi, I still cannot make my decision because I am worried about my loans.
UR provided me with 10,500 loans per year to meet my full financial aid. Others come from grants and scholarships and EFC. I am not sure it will be worth that much since I will end up with almost 50,000 in debt. Can anyone here talk about your loans? BTW, my parents earn less than 30K last year. I love this school but I do not want that much loans indeed. I have talked about this with my counselor, but he said that everyone is provided that much in their package.</p>
<p>ss6270096:</p>
<p>I won’t be paying this amount because I received an outside full scholarship, but without it, I’d be owing ~$15,000 per year in loans. Your package is obviously better than mine, haha. Remember to take into consideration what you’re majoring in.</p>
<p>It is worth it if you plan to graduate in 4 years and be gainfully employed to pay back the $50K. You also have to make good money to live life and pay your loan back. If you can get the same education for less elsewhere and have acceptance then consider those options too. Your amount of debt sound like the average for these days. Good luck!</p>
<p>^^ No, $50K debt is not average. Most students do not take out more than the Stafford limits of about $27K for undergrad.</p>
<p>I suggest you try a few scenarios using a loan repayment calculator. </p>
<p>Please be realistic in anticipating your salary. Your loans will requires ~$600/month payments for 10 year after graduation.</p>