I plan to get a BS in the art institute of california - los angeles after 1 year of getting general ed credits in a community college. I will work part time during school to pay rent, but I still need $80000. No one else is helping me pay. I've read that the average salary of a media arts and animation graduates is $37000. I can draw pretty well so I'm sure I'll get a job. I really want to go, but I worried about debt. Would I be able to survive after graduating if I borrowed that much? If I shouldn't borrow that much, what should I do to pay?
2007-06-09 17:03:49 · 3 answers · asked by rockgoody 1 in Education & Reference ➔ Financial Aid
I wouldn't advise borrowing 80 thousand dollars. That is a huge sum of money. Let me put it to you this way. I have 35 thousand in student loans and after consolidation, my payments are 350 dollars a month for about 20 years. I am a recent graduate and I make just above 35 thousand a year. After rent, utilities, etc. my husband and I have enough to care for our family and put a little into savings. If you borrowed over twice that much, I'm not sure you would be able to survive comfortably.
I would seriously look into a less expensive school or try applying for scholarships and grants first. Whatever you decide, I wish you well. Good luck in pursuing your dream.
2007-06-12 06:07:51 · answer #1 · answered by Evelyn's Mommy 5 · 2⤊ 0⤋
Before you decide to take out a loan keep in mind that you should first try going to www.fafsa.ed.gov to see if you qualify for any federal money. Only because you dont qualify when you submit your FAFSA doesn't mean you cannot qualify for state grants or other grants. Second, you should try going to www.fastweb.com and try to get scholarships. There is a certain amount that the federal government can give you in loans because they dont want you to be in debt. Also, if you do borrow alot of money just remember that most loans give you up to 6 months or 9 months to automatically start paying afterwards. So if you are going to borrow that much money make sure you dont get out of school or make the money you borrow go to waste or else you'll have to pay as soon as you drop out.
2007-06-10 13:58:23 · answer #2 · answered by Evi 2 · 0⤊ 0⤋
apply for as many grants and scholarships as possible. but yeah, take out the loans if you have to.
2007-06-10 00:11:31 · answer #3 · answered by pm 5 · 0⤊ 0⤋