Hello all, so I am an incoming freshman at CSULB. I am trying to finalize my financial aid but I was looking at the overall cost of attendance for an undergraduate and even though I am commuting, there is a listed Room and Board fee of $4770.
The estimated total cost for an undergraduate is about $15.5k a year.
What is this? I, fortunately, received some grants a few small scholarships that will cover about $12k for this year. This is enough to cover both semesters of tuition AND textbooks. The financial aid office offered me a $3000 loan to cover the rest for the full $15.5k but I don't know if I should take it for this "Room and Board" fee. My parents, luckily, are allowing me to live at home for free because they want me to save as much money as I can. Is this Room and Board fee absolutely necessary and should I take the loan out?
I am looking for a job and I hope to work full time this summer and part time when the semester starts.
Also, besides the Room and Board fee, I was thinking of taking the loan out anyway because the car that I am going to be using is in the auto shop and I'm not sure how much it will cost. If I were to take out the loan, would I be able to use it to fix my car? It is technically going to be used for my education as it is the manner that I will be commuting to school.
Thank you for your advice, I'm still pretty confused about this all.