<p>I'm a high school student, and I dont see how the average student debt is only 30K. Most universities I know are atleast 20k a year at cheapest. Universities in my state (UC's) cost atleast 30k a year, so that 120k of debt. How is the average debt 30k,,, that means like their college tuition is like 7k. How is that the average, if anything that may be the lowest, but i fail to see how thats the average. Tell me where I am going wrong. My parents cant pay for college btw, so does that mean I will need to take out like a 100k loan?</p>
<p>Most students are NOT borrowing the entire cost.</p>
<p>Most kids commute to their local school, so they may borrow some for tuition and maybe their parents or the students’ jobs pay for the rest.</p>
<p>most students do NOT go away to college. That is a luxury in many cases.</p>
<p>No, you can’t borrow $100k…and you shouldn’t. You’d ruin your life.</p>
<p>YOU can only borrow $5500 for your frosh year. To borrow MORE would require qualified co-signers and that’s a BAD idea in a case like yours (borrowing so much).</p>
<p>If your parents can’t pay much/anything, you may need to commute to your local state school or CC.</p>
<p>I don’t know of any public universities in this country that have tution/fees at the $20K a year level for in state students. In NY, that can cover the whole tab for a sleep away SUNY (State University of NY). You need to pay rent, have food, have living expenses whether you are going to college or not, so that isn’t cost figure specifically for college students. Take a look at tuition only costs at your public universities and community colleges.</p>
<p>There is this myth that most college students go away for college. Not at all true. The average college student is in his 20s, working at least part time, and going to college part time. She is not living n college provided housing. </p>
<p>As for loans, the only loan guaranteed for US college students is the Direct loand for $5500. Anything else needs involvement of your parents, or a student with a strong job and credit history, certainly something few 18 years olds will have. So if you and your parents don’t have any money saved for college, and if your parents are not going to pay anything towards your college costs and are not going to borrow, then you are going to have to get scholarships, get financial aid (if your parents income/assets are low enough for you to qualify), you will have to work and earn some money, and live with your parents getting them to at least provide shelter and some food while you commute to school.</p>
<p>Most of the state schools where I live are about $10,000 per year tuition. That’s for in-state domiciles. Not including housing, cost of living, textbooks.</p>
<p>Don’t focus on averages, focus on your situation and what your cost will be. What other people pay or have as debt is not of any import, is it?</p>
<p>Your parent can’t or won’t pay for college, which is it? Depending on your parent income, you may qualify for good aid yourself. You may qualify for Pell Grant, Cal Grant and the Blue and Gold Plan–many UC students get a lot of aid. Have your run a price estimate yet?
<a href=“http://financialaid.ucdavis.edu/AidEstimator/Disclaimer.aspx?ReturnUrl=%2FaidEstimator&AspxAutoDetectCookieSupport=1[/url]”>http://financialaid.ucdavis.edu/AidEstimator/Disclaimer.aspx?ReturnUrl=%2FaidEstimator&AspxAutoDetectCookieSupport=1</a></p>
<p>And maybe read this before asking more questions, this is the FAQ stickied to the top of the thread:
<a href=“http://talk.collegeconfidential.com/financial-aid-scholarships/1486647-financial-aid-faqs.html[/url]”>http://talk.collegeconfidential.com/financial-aid-scholarships/1486647-financial-aid-faqs.html</a></p>
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<p>Have you run the net price calculators on the colleges’ web sites to get estimates of financial aid and net price based on your family’s finances? Some schools may give you substantial financial aid grants that will reduce the net price considerably, so that you will not need to take that much in the way of loans.</p>
<p>Are you a senior?</p>
<p>I would venture to say that most kids who “go away” to college have:</p>
<p>1) Parents who are paying much of the cost…or
2) Qualify for lots of aid and get it.</p>
<p>I don’t know about averages. As other posters have said, a lot of kids commute. I live in an upper middle class area where most kids don’t do that, but even here, where most household incomes are six figures, there are kids who commute to community college and local schools. And they’re doing it to avoid student loans. HOWEVER, I do think you have a point. I know many kids who have 40k to 80k in student loan debt. Their parents have co-signed for huge amounts. When a school reports average indebtedness, they don’t necessarily know how much the parents have co-signed for.</p>
<p>Let me give you a tip. Don’t take on big loans. My husband and I had them. They’re crippling and you’ll be working for your college long after it matters where you got your degree. We won’t do it our children. Period.</p>