ways to pay for housing

[traumerei]

how are you all doing it, esp masters students? I really hope I don't have to take out loans just to live somewhere. 

[Neuro_Dave]

I'll be a 1st year Ph.D student in Atlanta with a moderate stipend.  I plan on taking out a big loan my first year, and seeing how far that goes.  Ideally I can pay a little more and live close to campus (off campus) and not have to drive very often.  Having to pay minor car insurance and limited gas costs will be huge for what Im used to. 

[queenleblanc]

You can get up to 20,500 per year for federal loans, and you can get grad plus loans (or any other) for any remaining amount up to the university's stated COA (cost of attendance).  For example, I am going to East Carolina this Fall for a 2-year master's program, and 1 summer's worth of tuition.  I can get up to 22,928 federal loans (20,500 from FAFSA traditional grad loans, and up to 2428 from grad plus or any other student loan arm (discover loans, sallie mae, etc).  ECU's cost of attendance figure accounts for the cost of living in the area for off-campus residential, in-state students (which I will be).  They will also up the COA figure to account for the 1 summer's worth of tuition and expenses (including an estimate on COL for the area for those months).  So, I figure my traditional grad loan will be closer to 24k or 26k per year.  (I am most likely going to get a GA and a Research Grant to help take down my overall loan amount, don't criticize my loan amount... the ROI is really good for SLP's due to the high employability - 100% - and a shortage of SLP's everywhere).  

 

If you are at any institution, whether in-state or out-of-state, you should be able to look at either the cashier's website, registrar's website, or financial aid website to find the COA.  The college usually lists COA with FAFSA statistics, so you can try looking on the FAFSA site as well.  The out-of-state residing off-campus figures are the ones you should look at.  If the amount you THINK you will need to live during your time exceeds the total COA, then you may want to consider getting a part-time job, roommate, lesser rental rate, or any other loans you can explore.  Sometimes your bank can provide graduate degree loans that are not contingent on the university's COA as it is published, you just tell them how much you need and they set the terms for repayment and APR.   

[AboveTheRim]

Unfortunately, you have two options:

 

1) Take out loans and pay it back later, or

 

2) Work your a** off while in school, and pay your own rent. 

 

I chose #1, because you must have a decent paying full-time job to pay room and board or any off campus rent.

 

As a masters student, it is going to be REALLY difficult to get any kind of assistantship with a stipend large enough to pay rent. I wish the best of luck though.

[anoveldave]

On the same topic, is anyone else hit with the reality of figuring out housing when your stipend is really a salary (teaching assistantship)?

 

It appears that I would be paid months after I would move in anywhere. Recently I've started to look at graduate housing for the first year, and in correspondence I was informed that they could work with me on the payments (because it's all university business). This makes it seem as though I wouldn't be able to even consider living off campus for the first year. 

 

Is anyone in the same situation? Not enough money saved up either to handle 2-3 months of living expenses without the TA salary.

[pears]

depending on where you're headed, you may want to look into house-sitting or live-in nanny and/or housekeeper jobs. options are kind of limited, but it's an option!

[peternewman89]

I asked my department and they said I'll get my first deposit on 8/31.  I plan to move in between 7/15 and 8/1. I'm working now so I'm able to save up a little to carry me over through that time.  I'll also be opening a new credit card that will have no interest for 12 or 18 months depending on which one I choose to go with, so expenses can just go on there to be paid off at a later point.

On the same topic, is anyone else hit with the reality of figuring out housing when your stipend is really a salary (teaching assistantship)?

 

It appears that I would be paid months after I would move in anywhere. Recently I've started to look at graduate housing for the first year, and in correspondence I was informed that they could work with me on the payments (because it's all university business). This makes it seem as though I wouldn't be able to even consider living off campus for the first year. 

 

Is anyone in the same situation? Not enough money saved up either to handle 2-3 months of living expenses without the TA salary.

[juilletmercredi]

Look for residential life jobs, especially if you have transferable experience.  I work as a residential hall director at my university, and it comes with housing and a modest food budget as well as a stipend for compensation.  Many universities have such positions for graduate students, but you have to look for them as they aren't advertised.  They're also competitive - this year we've had 80-90 applicants for just 9 slots (we have 5 returning, not including me - I'm moving on).  But so worth it if you can get one.