r/college•
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will my Student loans be affordable? Can I truely support myself?

the college I am planning on going to will require me to pull out a 36K student loan for all 4 years (not each year). I really have no idea what I am talking about when it comes to loans, interest rates, subsidized/unsubsidized, and all that kind of stuff. I just want to see what I am going to have to be dealing with after I get out of college and if I can actually afford it.

what's the average interest rate I am going to be offered and what are my payment options for after I graduate? any "strategies" I should be aware of?

Is 36K too much to be pulling out for a loan?

Also, I plan on paying for housing and food by myself after freshman year, since at this college you are required to have a dorm your first year and there is already a meal plan you are required to pay for as well. the rooming in the area cost around 1,100-1,200 dollars a month with a roommate. In the end I will probably be paying around $500 a month plus another 100-200 for food.

Is this an attainable goal? is it possible for a full-time student to afford housing and food with a part-time job?

sorry if I'm asking too many questions or overthinking this. I just really dont want to screw up my life and be in-debt until I'm 70. I REALLY appreciate any advice anyone has! thanks!!!!

Posted Apr 13, 2013, 10:10 PM UTC

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