<p>Recently, I decline my unsubsidized federal loan offered by my university because i do not want to have to accumulate interest rate prior to the loan. However, I accepted their subsidized loan. Does that mean I am off the hook until after I graduate out of college? How will the interest work? Considering the job market right now, is it smart to graduate with nearly 16k in debt? </p>
<p>I also have the option to stay at my current school, no debt, live at home, commute & essentially sacrifice the college experience</p>
<p>What would be better for me in the long run? </p>
<p>To add- is it possible to still apply for scholarships up until college starts again?
Will it still apply to my financial aid that year?</p>
<p>Besides BG scholarships, are there any other legitimate scholarships offered to low income families with not much accomplishments? I am willing to use my summer to do what it takes to keep my loans to a minimum.</p>
<p>It sounds to me like your decision is to complete your education with no debt or accumulate $16,000 in debt in order to enjoy a “college experience.” Only you can determine whether that’s worth it to you.</p>
<p>Yes, unsubsidized loans mean you are off the hook until after you graduate from college 9or leave for another reason before graduation).</p>
<p>Hi, You wrote “I also have the option to stay at my current school, no debt, live at home, commute & essentially sacrifice the college experience.” Does this mean you’re at a community college or state school and commuting from home, and you want to transfer to another college “for the college experience”?</p>
<p>To put it gently, as a former instructor of college freshmen, I think from your post that you might need to work on your writing (though it’s possible you may have been typing quickly and made mistakes for that reason). If that’s the case, it’s so much better to take the classes you need at a community college (or cheap state school) and maybe try to transfer after 2 years. It’s hard to tell from your post whether you’ve already completed 2 years?</p>
<p>“Considering the job market right now, is it smart to graduate with nearly 16k in debt?”</p>
<p>“I also have the option to stay at my current school, no debt, live at home, commute & essentially sacrifice the college experience”</p>
<p>Sounds like you indirectly answered your own question. $16k is relatively low debt. The 16k is only worth it, in my opinion, if the school that you’ll go to is vastly superior than your commuter school academically.</p>
<p>@ Adelerose- No offense taken. Yes, I completed my first two years at a commuter school. </p>
<p>Etuck24- Say baruch or Genesco</p>