Hello guys and gals,
I am starting to receive acceptance letters and FinAid awards.For the most part UCR and UCSC have me at 12,500 in loans for the first year so that would be about 25,000 for 2 years. I was wondering if this an ok amount of debt, since I wish to enroll to grad school right after receiving my BA.
$12,500 is a lot per year but since it’s just for two years $25,000 in total wouldn’t be unmanageable. Do you need to borrow for grad school as well? If so that might change things since you are borrowing nearly as much in two years as the average person borrows in 4.
You know your parents will have to cosign for those amounts right?
^ Yes. Your max loan as a Junior would be $6500 and as a senior, $7500.
Oh i forgot to mention, I’m an Independent 23 year old full time student