<p>I just took a year off of school from Pratt MWP because I couldn’t afford to go to school this year. I got accepted as a graphic design transfer to MICA and Suny Purchase. I will end up with about 27,000 of debt if I went to MICA. As much as it’s my dream (I would love to go there more than anything) to go there, I realize the reality of that debt so I will be declining acceptance there. Here’s the kicker, with my parents income I got virtually no federal aid so I will be owing around 16,000 per year to Suny Purchase for my 2 years there. I know in comparison to other prices that’s not so bad but I know my family can’t manage many more loans. My question is pretty much whether or not it’s a bad idea to go to Purchase or not.</p>
<p>Though my dad makes a sufficient amount of money now, he was out of work for 2 years which sent us down the deep spiral of debt from which we can now barely pay; this is including necessities even 4 years later. My parents credit didn’t qualify for any loans (private or not) so my friends parent had to cosign for me. I don’t think I can ask her to cosign another loan because that seems too risky. I currently pay $350 a month for loans from Pratt MWP which I pay for all of between two jobs. My sister has a lot of loans but she has no job and my parents have been paying for her the past 3 years since she graduated college (obviously she should get one but she has some mental/social issues that I believe contribute to this). I can’t rely on my parents making any of my payments. My mom also just barely survived from a brain injury this winter which we now have huge medical bills coming in the fall for. My parents will probably have to take out a home equity loan (they realize the severity of this) to pay off our credit card debt amongst other school related expenses. The past year at home has to have been the worst year I’ve experienced so far. All friends of mine are off at school so it’s been a terribly lonely and desolate year. I’m not sure if I can handle another year at home but I’m not sure if it’s the best choice or not. I’m really at a crossroads here and would love some advice given my families background with handling money.</p>