<p>USC is seriously my dream school. i can’t imagine going anywhere else. but if they do not give me enough aid (that aren’t loans) to make it equal to what i would pay for my other instate school tuition, i cannot go. are student loans that bad? i plan on majoring in business (finance concentration) so it’s not like im going to be graduating with something useless.</p>
<p>What do you mean by “bad?”</p>
<p>Look – a majority of college students will graduate will loans. There are the lucky few with full scholarships or parents who can afford to pay for all four years, but how many of those students do you REALLY think exist, especially in this weak economy?</p>
<p>Loans are bad if you don’t pay them. They then accrue late fees, interest, more fines, etc etc etc. Otherwise, they’re a viable way of paying for your education. With the student loans USC awards, you do not have to begin paying until 6 months after graduation – which gives you time to save money and find a stable job.</p>
<p>I wouldn’t recommend taking out a large amount of loans; the more loans you have, the more you will have to pay per month when you are required to pay them back. Luckily, part of USC’s financial aid package for UGs can include need-based grants, which is essentially free money from USC!</p>
<p>I have about $55,000 in loans from my 4 years at USC, which is pretty low compared to a lot of people I know. My boyfriend has about the same, my roommate has around $120,000. It’s not terribly difficult to pay back – my monthly payments are around $300. When I get a raise, I’ll start paying more to pay them off faster.</p>
<p>Around 200k in student loans…</p>
<p>A worthwhile investment/gamble or just plain dumb?</p>
<p>With the screenwriting degree – a risky gamble, for sure. </p>
<p>The jobs available to you post-graduation (without picking up a minor and/or working on some other skill that would be a job market asset) will be overrun with a lot of other people looking to break into the industry. Plus, if you do get a job – let’s say, assistant at a studio or agency – your salary will only be somewhere around $25,000 - $32,000 a year to start. :(</p>
<p>Did USC not give you any need-based grants? Did you appeal your package?</p>
<p>Also, keep in mind you reapply for financial aid every year, so if you could get a better package plus scholarships in your sophomore, junior and senior years and only emerge with a year or two of tuition in debt. (Something to think about…)</p>
<p>Also, since you’re a transfer, I’d consider having your parents not claim you on their taxes next year and you file your own tax return; that would lower the EFC on your FAFSA and would increase your aid from the school – possibly some grants.</p>
<p>I’m planning on appealing, but I know I won’t get ****. We have a high home equity and a second mortgage, but I know I will sweat through this and will get only work study to add to my mountain of private loans. </p>
<p>I got no need based grants…because they claim I have no need. I already file my own taxes, but my dad claims me for other purposes (health insurance). </p>
<p>I guess the big gamble for me would be is I could get a USC scholarship next year…how much are those SCA scholarships worth? Because my parents really screwed me over on this one with their debts. If we had no debt, they could easily afford this. </p>
<p>200k just seems like a lot to swallow. I’m afraid I will never live on my own, have a family etc.</p>
<p>Definitely appeal, you may get something. What was your EFC? </p>
<p>You don’t need to explain yr family situation and it’s probably different than mine – but my dad owned his own business and essentially ran it into the ground and accrued a lot of debt on the family. My mom appealed for me during this time, fully explaining the situation, and they promptly altered my package. (This was around junior year.) I know my parents had a second mortgage on the house, too. My dad also had a bankruptcy in the 90s that affected his credit…but somehow, USC understood. Really get into the nitty gritty of the situation if possible.</p>
<p>The SCA scholarships, sadly, are small. Most range from $500 - $3,000, from what I remember. 
(Yes, they SUCK in the scholarship department…You’d think with all those rich donors…) There could be a bigger one, but I never heard of one more than several thousand dollars.</p>
<p>$200k is A LOT in loans. You’d end up paying quite a large monthly payment in the beginning when your need to start repaying them…</p>
<p>See, our debt is consumer debt. And USC doesn’t care about consumer debt. </p>
<p>Going to appeal though, simply because that 200k just seems kind of dumb. Gut feeling.</p>
<p>$200K?</p>
<p>That’s a loan that will require approximately $200K in income to afford.</p>
<p>This is way, way too much debt for an undergrad.</p>
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<p>Debt is debt, and unless your mom and dad are raking in $100k+ a year in income, there’s no way you should be penalized for their financial mishaps – and really no way I think they should be expected to pay for your school on top of their debt.</p>
<p>Try to emphasize that, try to say that you will be responsible for paying 100% of your schooling due to your parents’ financial deficiencies, and I’m sure something will pull through!</p>
<p>They bring in more than 100k. </p>
<p>Going to start writing my appeal letter though, then round up the documents.</p>