- #1
Fusiontron
- 108
- 2
For someone planning on going on to 4 years of grad school.
Woopy said:I pay around $1200 a year for school, the point I am making is if she can do it on an international student tuition, this guy can do it too on an american citizen tuition. She is studying electrical engineering too, so it's not some sort of cakewalk major
Fusiontron said:Well I have no savings and my parents are contributing nothing. I get ~16.5K/year in scholarships with the total cost of living and tuition at ~18K/year. I'm also doing a couple of summer sessions in order to complete my degree on time. So I'm expecting 10K in debt when I'm done. Should I bug my research mentor to give me some money on the side if he gets additional funding? Some students at my school make 3K/semester for their research contributions.
Fusiontron said:Well I'm doing summer classes and I take 17-18 credits a semester and do research + multiple clubs so I barely have any free time. But I think it would be a good idea to try to slip in a minimum wage job in the summer to lessen the total so I'll consider that suggestion.
The amount of debt that is considered reasonable for undergraduate studies varies depending on individual circumstances and financial goals. As a general rule, it is recommended to limit undergraduate debt to no more than the expected starting salary after graduation.
While it may be necessary for some individuals to take on debt for undergraduate studies, it is important to carefully consider the potential long-term financial impact. It is important to weigh the cost of the education against potential future earnings and career prospects.
Undergraduate debt can impact future financial opportunities in several ways. High levels of debt can limit the ability to save for major life events such as buying a home or starting a business. It can also impact credit scores and make it more difficult to obtain loans or secure favorable interest rates in the future.
There are alternatives to taking on debt for undergraduate studies, such as scholarships, grants, and work-study programs. It is also possible to attend a community college or state university for the first two years to save money on tuition before transferring to a more expensive institution.
To determine if the debt you are taking on for undergraduate studies is reasonable, it is important to consider the total cost of attendance, including tuition, fees, and living expenses. You should also research the expected starting salary for your chosen field of study and use this as a guide for determining an appropriate amount of debt to take on.