Hello I am once again looking to start a dialogue on taking out debt. To go to the school that I would like to, I would have to take out about $40,000 in loans. I am super paralyzed in making this decision because I'm super motivated to pursue this program and get an MFA, but am having a really hard time feeling good about taking on that much debt. I know many people take on more than that, but I am calculating a minimum of a $400 monthly payment for at least 10 years in order to pay that back. That is a really overwhelming thing to consider. I'm super disheartened because I was really hoping that this would be the year that I get to go back to school.
I would really appreciate any thoughts from anyone who is planning to take out loans for their program! With the current state of affairs, I fear graduate funding is only going to become less available so part of me is thinking that maybe I should just accept the partial finding that I received? I worry that this is may be my best shot at this. I would really appreciate some insight !