<p>My guess is she means the internship is paid at a rate of $30K/year, but didn’t specify if she will be working for just the summer, an entire semester, or for an entire academic year.
If she did intern an entire academic year, then the money earned could pay for a year of school, which would mean less borrowing, but she indicated above she wanted to save the earnings for future loan payments.</p>
<p>If she was going to get $10K/month for the summer, that’s a rate of $120K/year. I find that difficult to believe since she says the job only pays $60K/year after graduation. Also if it does pay $10K/month that throws her into a much higher tax bracket and she’ll be paying a substanital of that in taxes which is another whole issue, since if she is just working summers she’ll owe very little if any in taxes.</p>
<p>Have you thought of staying in-state and …gulp…WORKING while going to school? ANY amount of debt as an undergrad is not a good idea…and there are some schools that are more about social life than critical thinking and learning. I am a college planner, and I have seen more than my share of heartache with high income/average academic profiles.</p>
<p>*and the job I will be taking on will give me 30k a year as an undergraduate student.</p>
<p>*
Her words suggest that the job with “give her $30k a year” while she is a student. That wouldn’t be the same as being paid at the rate of $30k per year.</p>
<p>*</p>
<p>…most of which I would be saving to pay future loans. *</p>
<p>Ok…this makes no sense. You should NOT be borrowing money while earning money and saving it. You should be using your earnings INSTEAD of borrowing.</p>