Is a loan worth it?

<p>I am an international student, I got into a few universities but i got no aid. As you all know its is very competitive for internationals. My only option now is to take out a private laon to cover the full cost of university,which is a liitle bit over 30k. I am only gonna take the lon for my freshman year as it I think it is easier to get scholarships and grants once enrolled.</p>

<p>Having an overseas education provides alot of opportunities for people like me.But is it worth it?</p>

<p>help me please......anybody</p>

<p>Did I ask a crazy question?</p>

<p>well no its not a crazy questoin but in the past couple weeks, everyone (including me) has been askin how much they should loan out for school and i tink people are sick of answering that qusetion....</p>

<p>well techlady, tat is a large loan amount and only you could answer tat question, consider the average starting salary you would recieve with the degree/major you are interested in and try to figure out if it is worth the risk. tats all it really is you know, deciding if you want to risk it or not...</p>

<p>This may or may not apply to you but I recall reading here $20k (or around that ballpark) in loans after graduating is about the most you should get yourself into debt. I suppose it depends on your financial situation.</p>

<p>I disagree that "it is easier to get grants and scholarships once enrolled." You should not base your whole plan on that, because you may be sorry and looking at a huge amount of loans.</p>

<p>What about making it to the deans list and working....all that I plan to do once enrolled.I have already started making with my online business, so its not so bad. I want this so bad I may be blinded.</p>

<p>hey if you want it tat bad then you will probaly do everything in you're power to make it work :) then i say u shud risk it, dedication=success. most likeley if you excel academically and have dont some ec's you are gona get some merit scholarships/grants at your school.</p>

<p>I think that many people here can't answer your question because we have no idea how much a U.S. education will be able to help you advance in your country.</p>

<p>It probably would help if you said what universities you were accepted to, what country you are a citizen of and what kind of profession you're planning to enter eventually.</p>

<p>If you were a U.S. citizen, I would say that it would NOT be worth it to take out $30,000 a year in loans for an undergraduate education. That would be a crippling amount of debt and the payoff would not be worth it. There would be cheaper alternatives available including going to a community college for 2 years and transferring or simply going to a cheaper 4-year university.</p>

<p>I dont plan on taking out loans for the entire four not crazy.I was accepted to hofstra,that the school i wanna attend.I am from the Caribbean.I am already into webbased business and that what I want to ultimately pursue.</p>

<p>Hofstra is basically an ordinary U.S. university. If you were an American citizen, I would not suggest that you take out $30,000 in loans to go there. As a Caribbean person, you can find cheaper and equivalent or possibly even academically better college options in the U.S. or Canada particularly if you're willing to wait another year (since most of the U.S. colleges' application deadlines have passed).</p>

<p>How were you planning on financing the rest of your Hofstra education? Usually the financial aid package one gets freshman year is as good as it gets.</p>

<p>If you got no aid the first year (you did apply, right?) I do not think they are going to pay for everything the following 3 years just because you do well. If your financial situation changes you may see a change. Many students are on Dean's list and working.</p>

<p>I think you should go to Canada. The schools are much less expensive and will still give you the opportunites you'd get at most American schools. McGill and Univeristy of Toronto a comparable to good U.S. schools for a fraction of the cost and are respected on a global level-much more so than Hofstra which honestly is not worth the 30,000 per year in loans. I suggest taking a gap year and then applying to Canadian schools as well as cheaper American schools or places with scholarships or at least, if you have to take loans, it would only be worth that much debt at an ivy/MIT/Stanford type school (and even then its questionable depending on how valuable in American degree is going to be for you back home). I really think you'll regret taking out that much money for Hofstra unless its REALLY your dream school and you are 100% confident the $120,000 debt can be payed back.</p>

<p>Another reason not to go to Hofstra: Unless you're planning to remain in the U.S. and become a U.S. citizen, it's hard for me to imagine that people in the Caribbean would be impressed by a Hofstra degree.</p>

<p>Hofstra is mainly known to some people in New York State, and it is not particularly well respected. Hofstra is far from the Caribbean, which is likely to be familiar with the big name US colleges like Harvard -- as well as closer U.S. colleges like University of Miami or Miami International. I doubt that people in the Caribbean will have heard of Hofstra or will be impressed by it.</p>

<p>As a NY State native, I also would be very surprised if you, a Caribbean native, end up loving the cold weather, grey skies and long winters in Upstate NY.</p>

<p>Hofstra is located on Long Island. IMHO, you would have been better served going to Baruch (especially if you have someone to stay with in NYC) and getting a much better business education at a fraction of the course</p>

<p>Point well taken, I may as well start scouting schools for the Spring.
Can Anybody help me, here are my stats
7 CXCs--4 subject Bs and 3 Cs
High school GPA estimated about 4.2
Diploma in IT from community college-GPA 3.8
2 years work experience in the IT field
1510 on New SAt may will take over for the Spring term
Had a few leadership roles in ecs
Already developed a website, working on a few more.</p>

<p>I got into FIU but I may still have to take a loan,it would be less though.Last night when asked that question I may not have been thinking things through but now I see the light.Thanks to you guys.</p>

<p>The cold weather was a bit of concern too.</p>