<p>I've known it for a long time now, but it's finally starting to become a reality.</p>
<p>My student loans are going to add up big time! I'm receiving ~$12k in grants/scholarships a year, but this still leaves $8k in loans to cover remaining costs at UC Irvine. I will be working while I go to school, but it really won't make a big dent. My parents would help me if they could but they don't have much money themselves.</p>
<p>After 4 years I will be $32,000 in debt. Good Lord! I'll be paying it off for years and years... it's really upsetting me. Graduate school will be paid for me thank god(military) but this debt is gonna eat at me for a long time.</p>
<p>Yeah, you should've made the decision of attending a university that was cost affordable to you when you were a senior in high school. I never want to encounter your type of situation in my lifetime. </p>
<p>If the military is willing to pay for your graduate studies, perhaps you could use your G.I. benefits to pay for the remaining debt that you incurred as an undergraduate. Just a thought...although, I am not quite familiar with military benefits.</p>
<p>Don't freak out. most people work during the summer and can make about $5,000 a summer. Instead of using that for some other purpose, pay down your loan. That leaves about a $12 K balance (the cost of a cheap car) which is a very reasonable investment for your future.</p>
<p>I hope I'm interpreting your thread correctly. When you say that the military will pay for grad school, I'm assuming you have some type of military obligation. If that is true, look at it this way -- when you graduate, you are going to have something many won't -- a JOB. Not only that, it is a job with job security for the length of your obligation. A job that comes with health and dental insurance.
That still leaves the debt. When I was in your shoes, I pinched every penny until it screamed. The habits I learned in college helped me through my lean post college debt paying years.</p>
<p>$30,000 of debt is not that bad, considering the education you're getting. Nothing in the world entitles anyone to a free ride. Many people have graduated school (incl. professional or grad school) w/ well over $100,000 in debt. It took me 10 years to pay off all my student loans, but I will tell you, it was the best $$ I ever borrowed, including my mortgage.</p>
<p>If you major in something like engineering or business you should be fine, but if you major in english and can't find work except for the local starbucks you could be in some major pain paying back 32K.</p>
<p>i agree with suze--do the transfer guarantee program from CC to UCSD or something like that. You can save a lot of money from tuition, and make a lot of money during your first 2 years because classes will not be that hard and you can work a lot.</p>
<p>A better UC? Irvine is a near top notch school in my mind. No Berkeley or LA but it aint a Calstate either. </p>
<p>No, CC is not an option. The military won't pay off my loans because I'll be an officer, not enlisted.</p>
<p>Either way... I'm definitely feeling a bit better about it. I've talked to several people and I'm clearly better off than some of them. Some will have over $50k in loans. Oh well.</p>
<p>Here's a site that helps you look at your major & how loan repayments will look in terms of monthly amount & how many payments. It also provides some idea of salaries from different undergrad majors.</p>
<p>If loans are part of your financial aid package, you might also want to consider applying for outside scholarships. At least at my future college, outside scholarships can be substracted from loan aid instead of school-given grants. There is a great book on how to obtain these kind of scholarships, which are mostly merit-based, but very often don't depend on GPA or SAT, but essays, recommendations, etc. It's called "How to go to college (almost) for free", by Ben Kaplan. Also, you could check out fastweb.com, in my opinion the best scholarship database, paired with a great scholarship matchmaker.</p>
<p>I'm transferring to UCI in the fall as a sophomore, and received about the same financial aid package. I'll also be taking out the same amount of loans.</p>
<p>Seriously, it's not that bad. You really have it well (especially with the military benefits for grad school--which I don't have). First of all, the grants alone cover educational fees and in your case, nearly half of your room and board if you'll be living on campus.</p>
<p>With your loans, you will cover the remaining difference of room and board, and <em>personal expenses</em>. And with personal expenses leaves a whole lot of budgeting, which is a good lesson to learn now.</p>
<p>-Books and supplies? Find your resources and use them; buy and sell on the internet. Sell your books independently and not through the school.
-Transportation? Cut down spending on outrageous Cali gas prices and take the free campus shuttle. The parking permit fee per quarter hurts, but also consider if having a car as a freshman is a complete necessity.
-Room and board? Frosh residence halls are cossttllyy and I sympathize with you on that. But with the price includes your meal plan so try to determine how much you'll really be eating to save up on costs. For example, I'll be taking the 12-meal plan and will stock up on traditional college 'food' (can we say Top Ramen and microwave dinners?). I'll be going home on the weekends so the 19-meal plan is out of question especially when the meals are generally all you can eat buffets. Also, when you're a sophomore, look into Arroyo Vista or Campus Village for housing. They're cheapest housing options available. I'll only be paying $500/mo for living in CV, and will budget on my meals accordingly. For junior and senior year, expect to pay more if you don't get into CV or AV again.</p>
<p>Personally, I estimate that I won't be using my loans for the year in its entirety. So whatever I have left over will result in taking out less for the next year...Hence 'working' the system of ever increasing interest rates.</p>
<p>Oh, and if you were offered work study...Don't refuse it. It will not go against your EFC for next year. So earn your WS amount before attempting to get a normal job during the school year.</p>