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Is it worth it to take a student loan for an undergraduate degree?

lalithsailalithsai 1 replies6 threads New Member
Is it worth to take a student loan for an international student?
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Replies to: Is it worth it to take a student loan for an undergraduate degree?

  • BKSquaredBKSquared 1440 replies8 threads Senior Member
    Depends on how much and what field you plan to go into, which school and what your alternatives are.
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  • twoinanddonetwoinanddone 23256 replies17 threads Senior Member

    What are the alternatives? If you need the degree to get to the next stage of your life, then it is worth it.

    Where are you going to get the student loan? Not a lot of options for international students.
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  • lalithsailalithsai 1 replies6 threads New Member
    Well I will be taking a third party loan

    Also I will only take that loan if I get into my reach university (NYU and 2 others), I thought of working part-time in my 2nd year might help with the expenses a bit
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  • NCKrisNCKris 257 replies1 threads Junior Member
    If you are expecting to pay off the student loan with after school employment, internships or job after graduation, then do take into account the current immigration policies. Foreign students cannot find work as easily.
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  • twoinanddonetwoinanddone 23256 replies17 threads Senior Member
    Most students take student loans because they can't afford to go to school any other way. Some do take the loans so they can afford (really can't afford) a better school.

    Is this a good idea? Up to you, but I think this is how students and parents get into a big financial hole.
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  • DadTwoGirlsDadTwoGirls 5612 replies1 threads Senior Member
    Do not expect to be able to stay in the US after graduation.

    In my opinion it is probably not worth taking a loan to attend university in the US for undergraduate studies.

    I did take out a small loan to get a master's degree in an employable field at a top university in the US. I did think that was worth it. However, a master's takes a lot less time and therefore a lot less money than a bachelor's, and the difference between schools gets larger when you get to graduate school.

    How large of a loan do you think you might need?

    Do not expect to make enough money working to matter in terms of the total debt needed. Top US schools cost over $70,000 per year. Top US schools are academically very demanding, which implies that you need to spend the vast majority of your time studying and attending class. You will not be able to afford to spend much time working. At minimum wage, working 10 hours per week (which is probably as much as you should work), you are not going to make enough to leave even a noticeable dent in the total cost of attendance.
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  • lookingforwardlookingforward 34534 replies383 threads Senior Member
    Let's put it this way: a large loan is not worth it to hock your life for the next 20 years. Loans have to be paid back and life needs to be lived. Come for grad school.
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  • KnowsstuffKnowsstuff 4453 replies18 threads Senior Member
    No. It's not worth it, if that's what your asking. An old article but you will get the point.

    https://www.villagevoice.com/2011/11/09/nyu-students-debt-and-debtor/
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  • aunt beaaunt bea 9870 replies63 threads Senior Member
    A previous post indicates that you are applying to the UC's.
    Remember that you will need to pay $65K per year or ,a quarter of a million dollars. That does not include your medical insurance fee requirements, travel and incidentals (toiletries, entertainment, public transit).
    Will you gain that kind of salary in your home country? Remember that if you are admitted to a US university, you are expected to return to your home country after you graduate. Immigration is difficult, if not, impossible.
    You will need to repay that loan to someone.
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  • Cake360Cake360 9 replies0 threads New Member
  • collegemom3717collegemom3717 6846 replies60 threads Senior Member
    For the UCs and NYU? NO. They are good to great (depending on the field), but there are literally hundreds of other schools that will get you just as far in life, at a fraction of the cost.
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