Vanderbilt undergrad, graduating with 40k debt : worth it?

MYOS1634
Sat, 11 Apr 2015 10:12:52 +0000

@Anhydrite: Vanderbilt does not package loans. It means that the costs are $22,150 after grant/scholarships,all inclusive except for travel costs (COA at Vanderbilt is all-inclusive, and it budgets $2,780 for personal expenses, as well as $1370 for books, both of which can be trimmed considerably by renting books or buying them used, by not going out and enjoying the free entertainment on campus, etc. Lower income kids certainly do NOT spend $4,000 a year on books and entertainment/“Miscellaneous” ie., toothpaste and beer.)
The parents can pay $10-11,000. That leaves about $11,000. OP can take on federal loans ($5,500, which she has a right to, and which are not packaged in the financial aid), that leaves $5,500. By being frugal (ie. sharing a ride, etc.) OP should easily trim $500. Now, $5,000 are left. OP can work, part time starting now, full time in the summer. It seems reasonable that OP can earn $2,500-3,500 between May and August, even at minimum wage (3 months at $900, plus two weeks in August and/or any part time hours for now should easily reach $3,000 and if OP works 3 months for 1,100 - not impossible at all - plus 2 weeks in August, then most of the amount is covered even without a loan.) That’s why I estimate the loan parents would have to take as $1,500. It could be a bit less or more, but that’s pretty much the extent of it.

@CluelessinKS: how much would your parents and you have to pay directly to Vanderbilt, versus books and other estimates which depend on your own choices? Can you email them and ask how much you’d have to pay per semester (or per month if on the 10 month plan) directly to Vanderbilt?
By the way there’s a no-interest, 10-month payment plan