Best place to take out loans?

Also is 8k too much every year? I will be paying it off myself. Is it possible to work-study and work another job to pay it off without being in debt after graduation? Thank you guys. :slight_smile:

As a student, you’re limited to $5,500 freshman year, which goes up a bit as you go on. See this: http://studentaid.psu.edu/types-of-aid/loans/federal-direct/loan-limits If you’re independent, the thresholds are higher.

Hey, thanks! Do you think it’s possible to to do work-study or an actual job and pay off the loan I will be taking (8-9k) per year?

Yes if you are not counting on that money to pay tuition or living expenses. Depending upon your major, you could get summer internships that pay 2-4 times that amount (engineering).

Work study is usually only worth a few thousand dollars/year. Did the school allocate WS to you? If so, you would have seen the number. If not, you need to ask if you can get it.

Getting an outside job depends on things like the local economy, your skills, your time and transportation. Typically, you’d need a job that’s understanding if, say, an exam is scheduled during your work hours.

Of course, many do work their way through college. If the 8k is after student loans and is your gap, you’d need roughly $800/mo after taxes over the ten school months. What sort of job were you thinking of?

@lookingforward I work at a beauty supply store right now as a high school student(manage, promote, organize stuff) but I can do mostly any job if instructed well. @lostaccount what do you mean by I can pay the loan off if I don’t count on that money to pay tuition or living expenses? I am loaning to pay my tuition and expenses that I hope to pay off as much as possible before I graduate. I would love to have summer internships and I did have a couple of internships in high school; use that money to pay back the loans.