<p>I don't think $13 is too much debt. I am pretty conservative financially, and I think anything under $20k for an undergrad debt load is manageable. Of course, I don't think it's necessary to have a big house, fancy car, etc. With any debt, you'll have to postpone some of the luxuries you may see others enjoying. Just be financially responsible, and your repayment shouldn't be too difficult.</p>
<p>I planned on $24K debt (3000 housing x 4 years x twice per year), but then just recently, I realized I also got Pell 2.8K, ACG .75k, blah blah, HOPE pays tuition. And I get 10+ years to pay this off right? Pfft</p>
<p>You shouldn't have to take out anything close to that much in loans!!! DON'T take out loans you don't need!!!!!</p>
<p>Pug, your tuition is paid by Hope. You get Pell & other grants. The cost of your room & board is low. You have the opportunity to get through school with very little debt. Please listen to the adults on this board ... we do know what we are talking about ... no debt is ever good. Keep borrowing to a minimum.</p>
<p>I don't understand this post--I thought if you didn't need aid you couldn't keep it. Like, I thought if you received excess you had to report it back to the schools and fafsa (including any savings in your checking/saving accounts that you received) and they gave the excess to someone else?</p>
<p>Forgive me if I'm wrong, but I thought I read that somewhere.</p>
<p>bluealien, that is what happens if you have excess over the cost of attendance. There is quite often money for books, room and board, personal, etc that are included in cost of attendance but not billed to the student account. If you have more aid than is needed to cover tuition you can use it for these other expenses (up to the amount they have determined in the cost of attendance budget). This is the overage they are referring to...money that is for room and board, etc.</p>
<p>Yes listen to the adults. Loans AREN'T good. because when you get married, your spouse is probably going to bring in the same loans too, 40K, or possibly more. paying it off would be pretty annoying.</p>
<p>And there's no way you are going to make 3000 with work study, unless you work like crazy.</p>