How do you live off student loans?

[dreamadream]

---

Members do not see this ad.

Smart or what? Got offered $11000 last semester and I did not dare accept it. My aunt who's college educated told me not to do it. It's federal so I'm considering. I can get a car so I can commute to my therapist, school, and work. All I want is a car out of this with some food. Cause I do go hungry most days. Will it all pay off end...figuratively speaking????

 

[123456123456]

If this is undergrad then take part of it but not all if you can. You can get a decent car for 5-7 grand.

 

[Doudline]

Eating does tend to pay off... a car perhaps less so (matriculation, gas, repairs, etc, cost more long-term than taking the bus).

I lived almost strictly off of student loans/scholarships in college (~8k/year) and didn't regret it. It freed my time and mind for more important things than menial work.

 

[felipe912839128]

doudoline is correct

 

[raiderette]

If you read OPS other threads, OP has no vehicle and no way to work. Take the loan to get a cheap car, bank toward next year and start doing those things you need to get on track. You need money for transfer applications, MCAT prep, etc.

 

[NickNaylor]

It's all debt, so it's something you'll need to pay back in the future. But I think that's preferable to, you know, going hungry. What's the alternative? Starve?

 

[order66.exe]

Yes it's worth it OP. Stabilize your financial situation so that you don't have to choose between school and food.

Every iota of energy put into financial stress is an iota taken away from building a good application. Some people can bootstrap themselves OP but it's very hard. Don't be afraid of the loans OP, the whole reason they exist is for students who couldn't afford an education otherwise.

If you had different career goals I might give you different advice. Doctors are well compensated and would be able to service the debt. Be mindful of the quantity you are using but don't be afraid.