Is this loan manageable for mechanical engineering student?

College Majors Engineering Majors
1

<p>I am going to major in mechanical engineering at Georgia Southern University. Its ranking for mechanical engineering isn’t good compared to other reputable schools, if you’d like to know.</p>

<p>I just received the award letter today and realized I would have to take out $3500 subsidized loan + $3727 unsubsidized loan for the first year. Roughly $7227/ year. So 7227*4=28908 for 4 years. Simple math. But you know, surely I will not borrow exactly $7227 per year for 4 years. It may be less or even more. </p>

<p>Is it manageable? Is it worth the debt for this non prestige college? </p>

<p>Even though I know I’m supposed to answer this question myself, I want to hear some thoughts from others. </p>

<p>All of your replies and advises will be appreciated.</p>

2

<p>Where are you getting this figure from ? Are you an independent student ? 5500 is the max federal loans you can borrow for your freshman year. [Subsidized</a> and Unsubsidized Loans | Federal Student Aid](<a href=“http://studentaid.ed.gov/types/loans/subsidized-unsubsidized#how-much-can-i-borrow]Subsidized”>http://studentaid.ed.gov/types/loans/subsidized-unsubsidized#how-much-can-i-borrow)</p>

<p>I think 28k is pretty manageable. You might be able to get a job on campus which will help a lot.</p>

3

<p>Unless you’re in the upper middle class or upper class then you can’t afford college. Don’t think of the loan as a ‘loan’, think of it as an investment. I don’t think that sum isn’t manageable (i know psychology majors who had close to $100, 000 in debt by graduation). If you want to be educated as a mechanical engineer, make the investment. Work your buttocks off every semester, seek out scholarships, internships, like really seek them out. I guarantee with hard and smart work, that investment will pay off. </p>

<p>Loans are scary and risky business… but… <em>here comes the punch line</em> NO RISK NO REWARD. </p>

<p>I hope other people jump in and give their $0.02. All the best.</p>

4

<p>Thanks guy, I feel a bit encouraged now. :D</p>

5

<p>$30k is fine. Just make sure you do everything in your power to get a job by the time you graduate, or else $30k will quickly become a much less manageable number.</p>

<p>Georgia Souther is ABET accredited in Mechanical Engineering, right? Do professors there publish papers? What information do you have about how students do after graduating?</p>