<p>Since you are an international student, the above is not an option for you. </p>
<p>That said are your parents willing to pay/borrow that balance along with their EFC? Are they willing to co-sign these loans (a fool with a pen) for you as this is the only way that you will be able to borrow this kind of $$.</p>
<p>Keep in mind that your parents will have to be eligible to borrow each year. You must also factor in that tuition costs will rise each year.</p>
<p>My opinion is that $30K total for an UG education is not unreasonable. But can you get the $30K in loans? If, indeed, you are an international student, the US federal loans are not for you. Unless you alone can qualify for some loans, you are going to have to find a credit worthy co signer, and the question is not what any of us think are worth it, but what the lenders and cosigners think. </p>
<p>But, yes, it is not unusual for UG students to take out that amount in loans.</p>
<p>FWIW, I believe sybbie is a professional FA counselor. I have consistently found her comments insightful and accurate. I would consider it imprudent to discount her input.</p>
<p>If the OP has been approved for the loans, then good for him/her. You have enough. That’s fine. Just pointing out that if you were not yet approved, if you are looking, the Direct loans, PLUS loans, and many of the cosigned loans through Sallie Mae are NOT options for you if you are not a permanent resident or US citizen or if your parents are not. </p>
<p>Be aware that if you were “offered these loans” with a blanket, generic suggestion that your parents apply for PLUS or other such loans, it doesn’t mean that you are approved. Some schools, (unethical, IMO) put PLUS loans on the same page as the rest of the fin aid package when there is an application process for them where the parents have to be eligible, then apply, and be approved … or not. The same with any other SUGGESTIONS or referrals to loans. So don’t get those confused with actual awards vs suggestions. </p>
<p>Again, if all you need is $30k for the rest of your education, and you already have a way for you to get it, you are good, IMO. As long as you aren’t borrowing from some loan shark that with some crazy terms.</p>
<p>Your situation is extremely similar to mine. I too will be taking out about 30k in loans for an Econ and math double major. I also intend to pursue a phd. Its worth it, especially for a place like UNC. Good luck!</p>
<p>Anyway, I’d go for it! I have a friend at UNC from Canada (Toronto area). I think you can apply to UNC at the same time as Loran so Canadians definitely are there. It’s a good school.</p>
<p>I was approved through my bank for a pretty low interest rate. I am also working on an application for interest free provincial loans. I don’t want to be questioned lol. I appreciate sybbie’s knowledge but idk what she is going on about</p>
<p>If you want an accurate answer to your question, you need to be “questioned,” especially since it’s not immediately clear how much you are taking out. Are you borrowing a total of $30,000 over three years to attend UNC-Chapel Hill, or are you borrowing $30,000 a year over 3 years for a total of $90,000?</p>
<p>If it’s the former, that’s fine - $30,000 is a manageable amount. $30,000 will not rule out graduate school. I have almost that much. You can put your loans in deferment while you are in graduate school, and you won’t have to pay them down. But even if you wanted to pay just interest, $100/month is manageable even on a modest PhD stipend. For a math and econ major this is especially manageable, but even lower-paying fields would still enable you to pay this off without much hardship.</p>
<p>If we’re talking $90,000, then no, it’s not worth it.</p>
<p>If you want an accurate answer to your question, you need to be “questioned,” especially since it’s not immediately clear how much you are taking out. Are you borrowing a total of $30,000 over three years to attend UNC-Chapel Hill, or are you borrowing $30,000 a year over 3 years for a total of $90,000?</p>
<p>If it’s the former, that’s fine - $30,000 is a manageable amount. $30,000 will not rule out graduate school. I have almost that much. You can put your loans in deferment while you are in graduate school, and you won’t have to pay them down. But even if you wanted to pay just interest, $100/month is manageable even on a modest PhD stipend. For a math and econ major this is especially manageable, but even lower-paying fields would still enable you to pay this off without much hardship.</p>
<p>If we’re talking $90,000, then no, it’s not worth it.</p>