How much money should I borrow

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jon8markley

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Anyone with experiance!!! I am going to UMD SOM in the fall and was wondering how much money I should take out besides the money for my tuition, books, and apartment...just for food and fun.

Jon

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by now hopefully you know how to budget..

assuming the above is true i suggest the following:

1. take out only exactly what you need and apply your own personal savings (assuming that you have them) for "fun" books, and maybe even housing/food, etc...i.e. cover only tuition w/ your loans

2. OR, if you have no personal savings, take out the minimum that you can..believe me, you will not be a happy camper when you finish if each year you have withdrawn the full $45 grand or whatever is the max now.

3. during your first two years, WORK...you likely can find time to do odd jobs or weekends to earn some extra cash..during certain rotations in 3rd and 4th yr you will have time as well..nothing heavy duty or thought provoking..just grab some pocket cash to pay for your "fun"

4. SHOP for loan agencies..

good luck
 
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