Take out more loans and live by myself for D2 year or stay with current roommate to save more money?

[daintydazi]

Hi everyone,
I’m currently a D1 and planning ahead for D2, which is known to be the most challenging year at my school. I live with a roommate, and although we had a rocky start due to differences in cleaning habits, AC preferences, and her irregular schedule, things have improved recently (probably because she now has a boyfriend and isn’t home as much). We don't exactly get along, but it wasn't as bad when we first lived together.

I’ve been considering moving out for several reasons:

I want to have my own space so I don't have to worry about any other

I'd like to live closer to school (currently 15 min walk, aiming for 5 min).

Parking is terrible, so walking distance is a big plus.

My family might visit more often if I had my own place.

The downside is cost. A 1b1b near campus is ~$2,000/month and with utilities I would probably be spending (2.1-2.2k per month on rent alone) and if we count living expenses, I'd be spending close to $3,000/month. That's ~$700 more than what I currently pay sharing a 2b2b.

I also go to a school that is high in tuition and with student loans and interest rates being what they are, I’m unsure if the extra expense is worth it. Also we don't have a long vacation/breaks so moving can be stressful.

If my roommate continues being out often, living here might be tolerable, but it’s hard to predict.

Would you recommend staying to save money, or is the peace of living alone worth the cost going into D2? Thanks in advance!

---

Members don't see this ad.

 

[charlestweed]

Wow, $3000/month is a lot of money. Are you sure that you only have to pay $700 more per month if you move out? Don’t forget that you are currently splitting the utility bills with your roommate. Your utility bill will be a lot more if you don’t have a roommate.

I currently pay $950/month for my son’s apartment at UCLA and I thought that’s a lot. I am glad that my son doesn’t have any issue with his 3 other roommates in a 2 bed, 2 bath apartment. He’s still able to study, have fun, and maintain good grades.

 

[Blueshirts]

Treat saving money like a job you’ll thank yourself later, it isn’t easy, but neither is a job. Hopefully it works out or there is another decent alternative.

 

[Pablo Sanchez]

Save as much money as you can. Delay gratification as long as you can. I commuted 3 hours a day during dental school to limit my debt. Paid off my debt quickly and have a lot of financial flexibility now. I’m thanking myself now for the decision to save money on rent during dental school.

 

[DentistRays]

If you think moving to your own apartment will improve your academic performance and peace of mind I'd definitely do that. Ask your financial advisor as well, myself and other classmates did that and when we calculated the costs with our schools financial advisor it was only a few months extra of paying back the loans.
I'm only 3 mins away from school in a safe neighborhood and definitely improved my performance and peace of mind, it all depends on your situation though, best of luck.

 

[0bliqueridge]

I commuted 3 hours a day during dental school to limit my debt.

no offense but that sounds sad, miserable, and not worth it

 

[Pablo Sanchez]

no offense but that sounds sad, miserable, and not worth it

To each their own, but it allowed me to pay off all of my loans in a year.

 

[JacquesVallee]

Burning 3k a month on rent during dental school is criminal. Over 36 months, that's 108k. Since you're using loans, you'll end up paying at least 150k on that in the long run if not more. You should try to get your rent under 1k. You shouldn't be living like you're rich because you're not.

When I was in dental school, some friends and I crammed ourselves in a small apartment and spent $300-330 a month on rent depending on utilities. It was a blast and we saved so much money. It was well worth it in the end. I also have some of my best memories from that.