<p>Hello,</p>
<p>I have been accepted to some nice universities, but their financial aid packages have all been really bad loans. Because of this, I am not that excited about college anymore. What is the best way to deal with this feeling? Will I be bankrupt and homeless by after graduation?</p>
<p>How much are the loans they are expecting you to take out? How much did you think you would have to take out?</p>
<p>I know from personal experience that it can be a shocker to see that loan amount for one year and then multiply it by four. Especially if you are an excellent student, many spend high school thinking there will be offers left and right - many, many times not true. </p>
<p>Everyone’s opinion is different about how much loan is too much. Some say any debt is not acceptable. Some will say under $20,000 for 4 years is acceptable. Depends.</p>
<p>It is a shame for the $$$ part of college to interfere with the excitement. But better to be honest and make a choice that you can live with for the 4 years of college and the years after when you will need to repay the loans. </p>
<p>But also know, that many, many (not sure of a % figure, but would be curious to know) students WILL indeed have reasonable debt after college. Sure wish more choices were more affordable!!!</p>
<p>I thought most FA pkgs include Stafford loans ($3500 freshman yr, $4500 soph yr, $5500 junior & senior yrs)? Do most students take these loans (almost $20,000) or does the family somehow “find” funds to replace these loan amounts?</p>