<p>If I wanted to go to BU or IU, I would most likely need loans upward of $35,000 a year... Is that possible to obtain?</p>
<p>Too much debt.</p>
<p>Only with a co-signer, and quite frankly that person would have to be a complete fool to take on the equivalent of a home mortgage for someone else’s education.</p>
<p>You need to find places that you can afford.</p>
<p>That’s a decision that I’ll have to make (less debt and less prestigious school or more debt and more prestigious school). I just want to know if I can get my hands on loans that large.</p>
<p>You will NOT be able to secure loans in those amounts without either a cosigner, or someone else taking the loans out and giving you the money. If your parents won’t do that (are you the parent or the student?) then you will need to find less expensive college options.</p>
<p>Also remember that you will need to pay these prices and secure these loans for FOUR years, not just one. If you need a cosigner, that person will need to be willing to do this annually for you…and they will need to qualify for the loans each year.</p>
<p>Agree with others…too much debt.</p>
<p>You may want to read some of the other threads on CC from panicky students when cosigners from previous years do not qualify to take on any new debt.</p>
<p>It is best to look at schools which are affordable so you don’t have unwelcome surprises sophomore year.</p>
<p>Do not, do not, do not even consider borrowing that much. Even if someone were to be dumb enough to cosign that amount for you, you would be taking on far too much debt. There are plenty of colleges that will cost you less. Find one.</p>
<p>By the way I am the student and my mom would be cosigning. Is it not true that it is not debt unless you don’t pay it back on the schedule you are supposed to?</p>
<p>Sent from my SGH-I997 using CC App</p>
<p>Once you borrow the money, and commit to paying it back at some point in the future, it is debt. The only way that it isn’t debt is if you don’t borrow it in the first place.</p>
<p>Debt is any money you have borrowed and owe to others. </p>
<p>If you don’t repay it, that is called defaulting on your loans.</p>
<p>*By the way I am the student and my mom would be cosigning. Is it not true that it is not debt unless you don’t pay it back on the schedule you are supposed to?</p>
<p>*</p>
<p>???</p>
<p>It is called Debt from the “get go”. Private loans will show up on a Credit Report. Do you even know if your mom will qualify EVERY year to borrow that much? Many parents find that they don’t qualify after a year or so of borrowing because EACH YEAR they co-sign, their credit score takes a hit.</p>
<p>Anyway…that’s too much debt and it sounds like your mom is very naive about this whole thing if she’s even contemplating co-signing.</p>
<p>What is your career goal and how much do you think you’ll be earning when you graduate?</p>
<p>What other schools did you apply to?</p>
<p>You don’t have to go to a “prestigious” undergrad. Go to an undergrad you can afford and then go to a better grad school. that’s what counts.</p>
<p>BTW…is your mom posting as well? Some of your posts suggest you’re the parent.</p>
<p>[Few</a> options available to help in paying off private student loans ? USATODAY.com](<a href=“http://www.usatoday.com/money/perfi/college/story/2012-01-12/private-student-loans-relief/52520848/1]Few”>http://www.usatoday.com/money/perfi/college/story/2012-01-12/private-student-loans-relief/52520848/1)</p>
<p>What you need to ask yourself is if you (or your Mom) is going to be able to borrow $35,000 x 4 or $140,000 to fully fund your education. Ask to borrow $140,000 and you will have your answer.</p>
<p>I can go to the University of Florida virtually for free. I just don’t know if its better to spend the money and go to a better school out of state </p>
<p>Sent from my SGH-I997 using CC App</p>
<p>That is a no-brainer. Trust me, where you get your undergrad degree makes very little difference in your success. I know Tier 4 grads that are doing great, Harvard grads unemployed. What matters is what you do with your education.</p>
<p>After you get your first job no one ever asks from where you got your degree. That you have the degree is a check box on the app. They only care what you’ve done.</p>
<p>Please read the link in post #12.</p>
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<p>If finances are an issue, and the money is NOT forthcoming from your other schools, this is a TERRIFIC option that many would envy. Save any money you might have and consider putting it towards grad school at your more expensive option.</p>
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<p>You can get just as good an education at the University of Florida as you can get at any pricey private school if you decide that is what you’re going to school to accomplish.</p>
<p>It just seems as tho BU and IU offer a lot more opportunities </p>
<p>Sent from my SGH-I997 using CC App</p>
<p>You can get just as good an education at the University of Florida as you can get at any pricey private school if you decide that is what you’re going to school to accomplish.</p>
<p>I don’t know a lot about U of F, however when my oldest was comparing a private LAC to a public LAC we found that the quality of science labs was substantially different.</p>
<p>U of F is fine for business.</p>