C8H10N4O2Junkie said:
I don't want to be too personal, but what would you (or anyone) say is the minimum amount of loan that students can live off of for a year? (Assuming no other income.) I have been "living like a student" for so long that I can't remember any other options, lol... I have already been thinking, "So, if I don't buy the books, and..."
I've also been "living like a student", I can empathize. I took the Stafford Loans (sub and unsub), which I think added up to somewhere around 40-42k. One of my roommates did the same thing her 1st year and got by fine as well. Having brought my books from undergrad helped out -- biochem is biochem, right? Our library is open from 7am-midnight during the week and have great weekend hours as well, where you can check out a textbook for two hours at a time, if you really needed to look something up. Even profs will tell you that you don't really *need* to buy the books, since all of the material is in their note packets, and they've got an open-door policy with office hours if you have any questions.
Things you can cut out or reduce from that "budget expenses list" from the financial aid office:
- $100 for noteservice: we record our lectures as mp3 files instead of pay for a transcriber, that way notes are available online to those who are in the noteservice group
- $1,000+ for equipment: a classmate of ours arranged a bulk order with Steeles Medical supplies and got us a HUGE discount on stethoscopes, otoscopes, cuffs, etc. I spent probably $550 total and I have everything basic I need. If you want an OTM table, that'll run you $200+, but I'm not sure since I didn't buy one this year. If you want to practice, the school has at least one in each breakout room, and you may also check one out from the library for a week or two, I think.
Another classmate of mine also said that at the end of the year, if he has any extra loan money left over, he's going to give it right back to his loan provider so he won't be tempted to spend any more. That's a good idea if you want to just go ahead and take the private loans, keep them in a "secret savings account" and not ever look at them unless you have an emergency or something, then give it back to your lender at the end of the year.
I should also add that my health (until I turn 25) and car insurance is via the parentals, which does add up when it came to "saving."
But most definitely, it's either live like a student now or live like a student later. =) Feel free to PM if you have more questions too.
-N