How much debt is too much?

Paying for College
1

<p>At this point, I am weighing my college options based on how affordable they will be over the next four years. Though most of my financial aid is merit and need-based grants, I still think it's important to take into account the loans that I would have to take out, which range from 3500/yr to about 7500/yr. Is this going to end up being too much debt, or is it pretty reasonable?</p>

2

<p>That doesn’t sound too bad. What will your major be? How much will you be likely earning after you graduate?</p>

<p>Can you minimize debt by working over the summer?</p>

3

<p>The cumulative limit on Stafford loans is $31k total, and $23k subsidized. Either of those would be a reasonable guideline on how much debt to accept.</p>

<p>Good luck. You are wise to be thinking about this; I know too many kids who are not.</p>

4

<p>@mom2collegekids</p>

<p>Plan on majoring in international relations and economics, minoring in philosophy, and maybe going to law school. But, of course, this is subject to change over the next four years. </p>

<p>I realize that I need to work summers as it will help me out in the long run.</p>