<p>How big is the basement in your parents’ house?</p>
<p>we live in an apartment</p>
<p>The subsidized Stafford loan rate for loans disbursed 2008-2009 is 5.6%. And the maximum amount you can borrow as a freshman in subsidized Stafford loans is $3500. You can borrow an additional $2000 unsubsidized Stafford at 6.8%. There is no 4.6% interest rate on Stafford loans until the 2010-2011 school year when the subsidized rate drops to 4.5% for loans disbursed that year. But the amount of Stafford you can borrow subsidized as a sophomore will be $4500.</p>
<p>Seriously if you are getting a 4% rate I would love to know where you are getting it from as my kids loans are higher rates than that.</p>
<p>well i guess my parents told me the wrong rate…but anyways you only live once. Do not want to spend next 4 years at a crappy, commuter school that’s a ghost campus on weekends and barely more prestigious than a community col. meh.</p>
<p>You asked the question “Is this too much college debt?” Numerous people have told you, “YES! It is too much college debt!”</p>
<p>You yourself must have doubts about taking on so much debt, because if you were CERTAIN it was the right thing to do, that it was not too much debt, you wouldn’t have asked the question – it wouldn’t have occurred to you to ask the question.</p>
<p>But you did ask. And the answer is that yes, it’s too much debt. Way too much debt, and wishing that it weren’t is NOT going to change that.</p>
<p>But none of you are considering the implicit advantages to BC, such as the location, campus life, internships, and much more. In the long run as well, BC is a much better option, since i will have a better job. I would only expect to be paying more for this. More debt, sure, but after 40 years of working it’s not as big a factor. And 75,000 is worst case scenario, it will probably less due to help from family, working and all that.</p>
<p>my guess - he’ll be one of those over extending himself on his first home loan and looking for the government to bail him out of that too! sorry it that is too harsh - but I’m tired of this ‘entitlement’ mentality we have in this country - you get what you can afford and nothing more - no one - certainly not my hard earned dollars should be footing the bill for a kid with an elitist attitude</p>
<p>If you can’t live within your budget now, why would anyone want to hire you to manage anything?</p>
<p>I will live in a car if i have too. I’ll work three jobs and get by on 7 hours of sleep. I will pay back the debt and i dont care what anyone says. You people are all money-holding middle classer’s afraid to take a chance in life. You will see when i’m a CFO someday making 150,000. Believe me.</p>
<p>Why did you start this thread?</p>
<p>becuase i wanted to hear all of your opinions on having to pay 15k/year for college. read the title.</p>
<p>Good luck.</p>
<p>i won’t need it.</p>
<p>You’re overestimating the value of a BC degree. Honestly, even an ivy league degree is hardly a hunting license for a job right now. </p>
<p>Assuming that everything will somehow work out is a pretty juvenile way to look at debt.</p>
<p>If you have no options other than two relatively unpalatable ones, have you considered postponing college for a year while you work and look into other schools?</p>
<p>LMAO wow this is so sad. You know what…go to Boston College. It’s obviously what you want to hear. </p>
<p>But at the end of the day stop being so big headed. “I’m going to rich b/c I went to BC…lala.” Dude, relax. It’s BOSTON COLLEGE. It’s a good school, but it’s not Harvard (and neither can guarantee anything), so seriously s.t.f.u.</p>
<p>I think you should go for it. 75k in debt is great. Your high expectations will never happen, especially when 75k+interest is holding you back. It’ll bring you back to reality, which you seriously need right now. You must think you’re a genius, getting into Boston College and all! With no scholarship money.</p>
<p>Save your ego. Take the loan. You know…since you “ONLY LIVE ONCE”! 
With your attitude I doubt you’ll even make 100k.</p>
<p>Oh btw it’s “A LOT”, not “alot”, genius.</p>
<p>Soccerdude if you start planning right now you reduce your debt significantly. Ok you want to go to BC. Work as much as you can over the summer, and during school (without messing with grades). Plan so you only spend the least possible on books/personal spending money. If you do very well freshman year you could get scholarships to reduce your debt significantly. If you want something bad enough you can have it, but only if your willing to put in the effort. Or you could just go to St. Johns and transfer.</p>
<p>rofl owned nice one peterp if we could give rep i would totally give you some.</p>
<p>I don’t want to pile on because I sense the OP really, really wants to attend BC. Not just for the higher expected salary, but because OP REALLY wants to go to BC. </p>
<p>Are you used to living frugally, OP? I think if you are ready to live on nothing, ride a bike or walk, buy used books and clothes, spend a lot of time doing free stuff…yes, you could do this. Keep in mind that until recently, I had never heard of BC (got it confused with BU). I am just saying this as a reality check. People in Massachusetts have heard of it, but once you cross the Mason Dixon line, it’s a blur.</p>
<p>So, I’d say that it’s incredible debt, but if you plan to work every summer full time and live very cheaply, it might be do-able and it might be worth it.</p>
<p>HOWEVER.</p>
<p>There is something to be said for evaluating the affordable alternative. Someone suggested transferring to BC. Could you do your last two years there and go to a more affordable school for the first two?</p>
<p>Believe me, there is a degree of security from having some extra money in your savings account; paying off the student loan will impact your decisions – your ability to buy a home, to have a family, to take a vacation, to buy a car. </p>
<p>Just my 2 cents.</p>
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<p>He won’t have the free time to do free stuff – he’ll be working. And this is someone who thinks that living on seven hours of sleep is roughing it!</p>
<p>Yes, I got the sense that he really really wants to go to BC, too. I got the sense that his ego is all tied up in the name of the school, and that he thinks everyone knows the school and regards it as highly as he does. I’d bet once you hit the NY state line, knowledge of BC fades quite a bit.</p>
<p>The OP has probably never read “The Millionaire Next Door,” a book I think should be required reading for all high school students, and one that should certainly be read by someone who aspires to getting an MBA. Going deeply into debt is not the way to become rich, but it appears this is one person who will have to learn the hard way.</p>