What do you consider a large amount to be loaned for college?

<p>I am an incoming freshman at USD. I plan to take up biology and take the accelerated program to become a nurse. I believe the school gave me a very good offer. The scholarships pay for my tuition, but I have to pay for my room and board and other personal expenses. The loans offered were a $6,000 parents loan and a $6,000 students loan (not precise, but around that amount). Was this a good offer? or did i get myself in deep water?</p>

<p>If all YOU will be responsible for is the student loan portion, then you're ok. </p>

<p>Will you or your parents be responsible to pay for the Plus loan? If your parents expect you to pay that, then that will be too much debt.</p>

<p>At the rate of only being responsible for the student loans, you'll owe about $30k by graduation (that's assuming $5500, 6500, 7500, 7500 and any small Perkins loans).</p>

<p>Why would you consider borrowing for non-billable expenses that can easily be paid out of pocket or through a part time job? The student loan portion is normal, although I'd advise you to pay the interest on your unsubsidized loans while you're in school (it's a very small bill if you do this on a monthly/quarterly basis) so you don't wind up paying interest on accumulated interest. If your folks can afford to make monthly payments on a Plus loan, they may be able to go loan free by taking advantage of the school's interest-free payment program for a portion of their EFC. Do your scholarships specify they're for tuition only? If not, your parents may get a decent tax credit next year which they could use to help their portion.</p>

<p>I agree with M2CK - it's not a bad package from the student side. The question is whether your parents are okay with their side and, if so, you're all set!</p>

<p>sk8trmom is right. Don't borrow for personal expenses. Get a summer job and/or part-time job during the year to pay for those things.</p>

<p>Did they give you any work-study? If not, ask for some in lieu of some loans. Believe me, there's nothing more frustrating than paying back student loans that were for personal expenses. Ask my H. :(</p>