Figuring out Financial Aid for MLA

I think its wacked to spend that kind of money ( the private colleges) on an LA degree.  You’re better off going to Cal Poly and not having the huge debt burden when you get out. They keep saying that student loan debt will be the next bubble to burst.  If you keep looking, you may be able to find more scholarships.

The question you should ask yourself is how will you pay for the rest? How old are you, and if you are in your in your late 20’s to mid 30’s do you have a savings plan, diversified investments, retirement plan, etc? If you have enough in liquid and savings, go for it… but if you have to take on loans, be careful.

If money is an issue, Cal Poly Pomona is a fantastic choice. Their program is excellent, has a strong and well known history/alumni, and their students compete very well to the elite schools without breaking the bank. At the end of the day it doesn’t really matter what school you go to. Any independent-thinking and inspired person could do very well in any environment good or bad. Once you get a job in the field, you will be working next to those who only have a bachelors in a unknown school and the Harvard grads. You won’t even be able to tell where they came from. The elite grads may get paid more out of school, but they probably have higher student loans with interest to pay off.

Agreed, that it is a bad idea to take on too much debt. We just paid off our school loans last year and it took 8 years of aggressive payments finish them off. If I were you, I would work while in school. I know that they say “you will be so busy you can’t work”, but you can do something somewhere. Even if it is just enough to cover your living expenses. Then I would choose the cheapest school that is accredited. Usually, your first employer will care what you know not where you went to school. So be the best student at Pomona and at $7,000 a year you should be able to work in the summer and on weekends and skate with little or no loans. 

Good luck with the financial aid. I’m surprised you could get so much. When I went back, I couldn’t get JACK – SQUAT. Even the bogus ‘gov’t loans’ I was eligible for were a joke. Upwards of 9% interest! When I did my loan calcs from the feds, the repayment of the student loans was the same monthly payment as a new BMW. I have a better rate on one of my credit cards.  Seriously think about the debt you are piing up, and if you have a BLA, how much debt you have from that as well. I just could not justify the expense to myself.