<p>Well, with expected annual earnings of $35k per year, if you plan on living away from home after you graduate, you need to consider what kind of monthy loan payment you’ll be able to afford. </p>
<p>If your dream private has a COA of $50k per year (as many dream privates do), will you have to borrow $80k or more? (BTW…do you have a co-signer for your bigger loans?)</p>
<p>If you borrow $80k, your loan payment will be $920 per month for 10 years (that’s 3 car payments in addition to your own car payment). The loan payback is during critical years of adulthood - ages 23-33. Borrowing too much can cripple your adult plans - purchasing a home, etc. Many college graduates find themselves forced to live at home, because their student loan payments prevent them from having rent money.</p>
<p>Is going to a dream school worth making 10 years of your life very difficult if your loan payments are high?</p>
<p>Just something to keep in mind. :)</p>