I'm in a pretty desperate situation and I don't have family to financially support me. I have about 10000 in savings from my job. I just filed for unemployment and I hope I will receive it. I did not receive the COVID-19 lump sum of 1200 though...
My rent and bills works out to just over $1000 a month with 2 room mates.
The full tuition is just over $14000.
The federal unsubsidized direct loans I have been awarded was the full amount for $20000, and the graduate PLUS loans as well for another $20000. If I take the both of them, I am going to be in deep shit but at least I can use it to support my baby.
So...should I do it? I can probably just take the full amount of unsubsidized direct loans but I'm not sure how the interest will work out. There might be payment plans available for me that is contingent to my income.
EDIT: I have no idea how I am going to find a job after this pandemic. I would have liked PSLF but I don't know about my job prospects especially if I have a newborn. My university offers daycare, but they only accept children that are older. Affording a babysitter for the entire time I am working or at class might be impossible. Which is why I am considering taking the entire loan.
Submitted June 22, 2020 at 05:56PM by orangebabycarrot https://ift.tt/2Vp5HLF
