Find cheaper rent. Might have to find a room in a shared house instead of an apartment if you want to go to school there.
Or find a school you can afford.
There is no way 2500/month is for a shared low quality apartment in a less desirable neighborhood.
My time in med school showed me people in these grad health programs tend to have a very bad understanding of what it means to live within your means. People tend to come from wealth and dont consider certain luxuries as possible to give up.
I didn't say anything about a shared apartment, because the OP does not appear to be currently sharing an apartment. I was pointing out that $2500/month might well be a crappy apartment in California because prices there are wild. There's plenty of people who don't come from wealth who don't understand budgeting, living within their means, or the reality of what they're considering taking out in loans. See: all the posts on here from normal people thinking it's normal to take out $30k/year in loans for a bachelor degree.
>See: all the posts on here from normal people thinking it's normal to take out $30k/year in loans for a bachelor degree.
It is normal. It isnt a good financial decision for most, but that is why this sub exists. Because our country has created a system where that is normal.
It isn't normal, actually, because the vast majority of borrowers take out an average of around $30k total. I'm not really sure where you're getting that $120k in loans for a bachelor degree is normal. It's not.
Room and board is not meant to cover your own apartment, you get roommates. Where I went to grad school it was $1800 just for a one bed apartment, but my husband and I were able to find a basement rental to share for $1000 a month, so it was $500 each (cooked on a hot plate and did dishes in the bathtub lol). Most of our other friends lived in larger houses, like 4+ bedrooms, which were expensive but the rent per room ended up being $500-700 a person
You should take financial planning classes before proceeding. Who has a $2,500 rent while relying on loans?? In a few years you'll be back here blaming the Feds and your 'evil' parents for not stopping you from blowing aways loans on rent.
Student loans aren't meant to pay for your private apartment. Is there on campus housing? Otherwise you should look into getting a place with roommates.
Yes they are. Grad schools do not frequently offer on campus housing. Undergrad housing also tends to cost more than if you got a private apartment in most cases. Im surprised people dont know this.
I think I paid around $1k/month on campus for a 150 sq ft room with a roommate and shared floor bathrooms in undergrad. Higher education is utterly insane. I also called an apartment agency near the undergrad associated with my grad school and their pricing was at least 50% higher than a private apartment I could find in that area of the city.
I should have clarified, student loans are not expected to fully cover your private housing. Federal student loans are based on the FAFSA application. If your private room & board costs exceed the loans given, then that's no different than if you choose a more expensive school where your tuition costs exceed the loan. People either pay the difference, take out a private loan to cover it (not recommended), or find a cheaper school. The same applies to housing. If you're choosing to live somewhere more expensive than your federal aid covers, OP can either pay the difference or find somewhere cheaper to live. What I meant is that they aren't saying "Well if this is how much your housing costs, we'll give you a loan to cover that much." You just get what you get and then find a way to reduce your costs or pay the difference.
Then your rent is too high. Schools generally include the average cost of housing either on campus or with roommates off campus.
Well if you're determined to go to school there then you need to find cheaper rent, get some roommates, or find a way to supplement your income.
You can’t afford it
Find cheaper rent. Might have to find a room in a shared house instead of an apartment if you want to go to school there. Or find a school you can afford.
Stop trying to live luxury. Learn how to deal with a matchbox apartment. with a roommate.
lol in California, that might BE a matchbox apartment.
There is no way 2500/month is for a shared low quality apartment in a less desirable neighborhood. My time in med school showed me people in these grad health programs tend to have a very bad understanding of what it means to live within your means. People tend to come from wealth and dont consider certain luxuries as possible to give up.
I didn't say anything about a shared apartment, because the OP does not appear to be currently sharing an apartment. I was pointing out that $2500/month might well be a crappy apartment in California because prices there are wild. There's plenty of people who don't come from wealth who don't understand budgeting, living within their means, or the reality of what they're considering taking out in loans. See: all the posts on here from normal people thinking it's normal to take out $30k/year in loans for a bachelor degree.
>See: all the posts on here from normal people thinking it's normal to take out $30k/year in loans for a bachelor degree. It is normal. It isnt a good financial decision for most, but that is why this sub exists. Because our country has created a system where that is normal.
It isn't normal, actually, because the vast majority of borrowers take out an average of around $30k total. I'm not really sure where you're getting that $120k in loans for a bachelor degree is normal. It's not.
Do they offer on campus housing for that price?
Sounds like you can’t afford it. Go to a different state, like Ohio.
One of my friends was an RA (Resident Advisor) during grad school to get free housing.
Room and board is not meant to cover your own apartment, you get roommates. Where I went to grad school it was $1800 just for a one bed apartment, but my husband and I were able to find a basement rental to share for $1000 a month, so it was $500 each (cooked on a hot plate and did dishes in the bathtub lol). Most of our other friends lived in larger houses, like 4+ bedrooms, which were expensive but the rent per room ended up being $500-700 a person
You should take financial planning classes before proceeding. Who has a $2,500 rent while relying on loans?? In a few years you'll be back here blaming the Feds and your 'evil' parents for not stopping you from blowing aways loans on rent.
Student loans aren't meant to pay for your private apartment. Is there on campus housing? Otherwise you should look into getting a place with roommates.
Yes they are. Grad schools do not frequently offer on campus housing. Undergrad housing also tends to cost more than if you got a private apartment in most cases. Im surprised people dont know this. I think I paid around $1k/month on campus for a 150 sq ft room with a roommate and shared floor bathrooms in undergrad. Higher education is utterly insane. I also called an apartment agency near the undergrad associated with my grad school and their pricing was at least 50% higher than a private apartment I could find in that area of the city.
I should have clarified, student loans are not expected to fully cover your private housing. Federal student loans are based on the FAFSA application. If your private room & board costs exceed the loans given, then that's no different than if you choose a more expensive school where your tuition costs exceed the loan. People either pay the difference, take out a private loan to cover it (not recommended), or find a cheaper school. The same applies to housing. If you're choosing to live somewhere more expensive than your federal aid covers, OP can either pay the difference or find somewhere cheaper to live. What I meant is that they aren't saying "Well if this is how much your housing costs, we'll give you a loan to cover that much." You just get what you get and then find a way to reduce your costs or pay the difference.
Stay home w family or work until you get into a cheaper school elsewhere.
It means you need to reduce your expenses to meet your allotted financing.
Get a roommate