Hey everyone,
I am an incoming junior transferring from the local community colleges in San Diego. I live about 20-30 minutes (around 17 miles) from campus. I have my tuition covered with grants. I am considering moving close to campus in one of the student apartments (not owned by the schools) or the housing that’s within walking distance. I am looking for a private single room in a house or apartment and that will come out to be around 760-900 per month. I would be paying for this with loans, no financial help from parents except for consigning and helping with a deposit. I have a good amount of federal loans, subsidized, unsubsiDized (5000), and a lot of parent plus loans. I would be paying for my rent with student loans and getting someone to sublease over the summer. I really want to be close to campus to be involved in all of the activities and meet a lot of people.
Is it worth it to go into debt in order to live within walking distance? My debt would be around 15000-20000 once I graduate because it would be the only debt I have. Should I just commute and graduate debt free? Would I be able to have a great social life if I stay on campus for clubs and school events often? If I commute I’m probably gonna be on campus from morning to evening. What do you guys think will be worth it, knowing how sdsu is with commuters and off campus housing?
As you have presented it I would vote for the commuting option. However, if you could find the time to work an on-campus job to help defray the cost of rent then I would go with the option to live close to campus. Working an on-campus job could actually add to your college experience. And at 15 hrs weekly at minimum wage could cut your debt projection in half while saving you 5 hrs of driving per week.
@Banker1 hi! If I live close to campus then I don’t think they will be giving me work study on top of my loans. However if I decide to commute then they will give me work study in place of my parent plus loan. If I work while living by campus then 80% or so of my money earned will be going straight to utilities and groceries and I guess that would shave about 600 off my loans maybe
You’re doing much better with your finances than most college students I know. It’s really up to you because $20k is very manageable either way you look at it.
try the first semester living near campus and then choose if you want continuing or come back to your parents house.
@“International Dad” im not really worried about whether I’ll like it or be able to handle it or not. I adapt quickly and I am not concerned at all about missing home or anything. I’m just worried about whether 20k or even 15k is worth it in student loans. I know it’s super convenient but I also know I would be paying back my loans for a while so idk if people think it’s worth the money to them.