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Zero! If you can't make it in undergrad without a student loan, don't do it. I don't understand though, how come you would need one...live at home with parents, free rent. Work part time, and pay your tuition, go to community college for first two years, that is practically free it is so cheap. Live at home. Save your loan money for a masters.
Zero! If you can't make it in undergrad without a student loan, don't do it. I don't understand though, how come you would need one...live at home with parents, free rent.
Some students can't stay home though especially if you live in a neighborhood that will tempt you from straying on your college goals. Some students must leave their surroundings and the bad influences to be successful.
I did stay at home, lived rent free and got a degree. $5k in student loans for it that I paid off in a few years after graduating. Whew.
I'm 32 and am thinking of going to college. I know I'll probably have to go into some type of debt to be able to afford it, but I don't want to be one of those horror stories I hear about on city data! What amount of debt do you think would be 'reasonable' for someone pursuing a liberal arts degree?
The amount of debt that is reasonable is a function of the post-degree stream of net annual cash flow that you are realistically likely to be able to earn given your major, school reputation, academic performance, and career ambition.
In other words, if you're going to spend $50K getting a degree in Interpretive Indian Anthropological Dance Studies, then just set fire to your money now and go live in a cardboard box. On the other hand, if you're going to construct well-researched academic plans with a better financial ROI - and back it up with performance and commitment - then $50K or less might be ok.
A rule a thumb, don't go over more than what your expected starting salary. For example, you are majoring in social work and expect a salary of just over 30k a year. Do NOT go over 30k in student loans.
Myself personally, I plan on having 15k of debt MAX. I hate debt.
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