<p>So im looking at a program that will cost around 6k total to study in spain and im thinking about taking out a loan for it. Ill most likely get 1k in scholarships and ill probably need to take out around 5k. Im a sophomore and i havent paid a dime for school so ive been lucky in that respect so this will be my first loan. On a personal level, i truly feel that i need a month away so that i can get a deep perspective on my life.</p>
<p>Are you really considering going $5k into debt for a month’s study abroad vacation?</p>
<p>At 4% interest, that loan would cost $90 per month for FIVE YEARS. </p>
<p>Just take $2k or whatever, and spend it on a month’s vacation.</p>
<p>@robertrulz, if the rest of your education isn’t costing you anything and this is something that you feel deeply would help you define who you are, then maybe it might be worthwhile. But keeping the cost impact, as keepittoyourself correctly pointed out, is part of the equation. Only you can know what’s best for you, but understanding the long term impact - the cost - will help you make a meaningful decision. Living far away can truly be profound so don’t automatically toss the notion because of cost. </p>
<p>Best of luck in your decision.</p>
<p>@keepittoyourself</p>
<p>You’re probably right so I really have to think about this. Hopefully I get scholarships to ease the burden but I’m not counting on it.</p>
<p>Is the thing really only for a month? Because a month is a (slightly) extended vacation - it’s not ‘living’ anywhere.</p>
<p>If you have to borrow $5k for a 30 day trip, that’s $167 a day. Think what kind of real vacation you could have for that money!</p>
<p>Very true. I am getting 6 hours of academic credit though but yeah it ain’t cheap and that’s something I’m going to look into deeply. I could take the same classes here at the same university for free but I really feel like I need a break. I dont know we’ll see. Hopefully some of these scholarships come through!!!</p>
<p>I have to agree! If it is only for a month, go on a vacation instead! Unless of course it is an immersion type program… </p>
<p>If you want to study abroad, jump in with both feet, and go for at least a semester!</p>
<p>One thing you should consider is how badly you want to do that program? There are others that are non-institutional related, meaning they are a separate organization not affiliated with a college. You can find study abroad options through these organizations that can give you a hefty amount of financial aid (if not full ride) with [scholarships</a> for international students](<a href=“http://www.connect-123.com/about/scholarships/]scholarships”>Scholarships | Connect-123) that would be worth considering. That is a lot of money! Hope this helps and good luck.</p>