4 ms·
$47K for the degree itself leads to much larger debt if you're in the sizeable contingent of students that also needs to pay for things like a place to live and
by TimPC 4y ago
$47K for the degree itself leads to much larger debt if you're in the sizeable contingent of students that also needs to pay for things like a place to live and meals rather than relying on parents. You're paying $12K/year for the degree and likely $18K/year for rent and another $18K or so for other expenses. If you're making $30K/year from a part time job and paying $4K of that to taxes. you end up with a $22K/year shortfall which after interest is likely to be $100K of college debt.
- tomrod 4y agoIs $1,500 /month rent with roommates common? I'd think that can be reduced somewhat, if needed? I'll admit, I don't watch the college town apartment cost trends.
- ac29 4y agoI'd assume $1500/month is to live alone. With a roommate that would imply a $3k/month 2 bedroom apartment, which certainly exist, but only in the most expensive cities.
- sologoub 4y agoThose numbers seem off based on what CUNY calculated for 2021-2022: https://www.cuny.edu/financial-aid/tuition-and-college-costs/student-budgets/ https://www.cuny.edu/financial-aid/tuition-and-college-costs... They put highest total at $27,091, or basically right within your 30k projection. That said, 30k is basically full time at $15/hr, so that’s probably too high of an assumption if the hypothetical student is to graduate in 4 years. Though it is doable (I worked full time through college).
- deleted 4y ago[deleted]