<p>does anyone know of anyone who took out alot of loans in undergraduate school, did they regret it, was it worth it, did it hinder their life afterwards? i love bc but to go id have to take out 70,000 in loans and im not really sure what my plans are after but ill probably go to graduate school, what are your thoughts</p>
<p>im kind of in the same postion....i take about 15000 per year for a total of 60000 in loans and plan to go into medicine....much more money after. what made me decide to take the loans and come here is because i would much rather come to a school that i loved than go to some other school that i did not like so much to save some money, if i do what im supposed to do at college ill be able to pay off the loans. one situation i had that i dunno if u have is that some of the other public schools offered very little fin-aid and scholarships making BC only 7 or 8 grand more per year. at that difference it was easy for me to choose.</p>
<p>i definitely agree its worth it to go to a school that you love, but people keep telling me stories about how it's horrible to have those loans after school and that they had to get jobs they hated, couldn't afford to go out, just couldn't have a normal life because all they concentrated on was paying back the loans, also.. do you know if all the loans i would take out would be private or government loans? do you know how much the interest rate is?</p>
<p>yea, and which loans have no interest?</p>
<p>lampark, may I ask what type of loans you are taking? I will need to take out about the same amount, and I am curious about what kind of loans are best. Are yours parent loans, student loans, or both? Are they all deferred? Any info you could provide would be much appreciated. :)</p>
<p>The safest thing to do would be to not take interest loans at all.</p>
<p>I mean IT IS possible to take out 70k loans undergrad, 200k loans in med school, and then pay it off later. Many people do it every year. But PERSONALLY, I would rather not take any loans except for no-interest, government subsidized ones.</p>
<p>To answer your question, your financial aid package will include some interest-free loans (for the duration of college) and some 5% low-interest one. Most people are able to get by just by taking out these two types of loans. If you are forced to take out private ones, the interest could be over 9%, which is definately not worth it.</p>
<p>70k loans isn't too bad. If you get all no-interest or low-interest ones, you should be able to pay it off without too much trouble. :)</p>