Another Reason Loans Suck: Living Off Campus
It’s just about that time of year again. In a month, you’ll be figuring out your 2017–2018 living arrangements. If you’re like me and take out a bunch of loans to attend NYU, you may be familiar with rocks and hard places. I’m sorry about breaking more bad news to you.
I’ve got pretty lofty dreams of getting a small apartment where I can have my own bedroom, my own rules and burn a candle whenever I want. If I don’t think about it too hard and pretend I’m in the universe where Bernie Sanders won the presidency, moving out is a great idea.
My student loans currently pay the $16,000 a year it costs to live in a double at Lafayette Hall. That breaks down to $1,600 a month for August to May. There are one bedroom apartments in Manhattan that go for that price. Theoretically, I could live there alone for the cost of living with 4 people in an NYU dorm.
Obviously, NYU has amenities that off-campus apartments do not. These include utilities, on-site laundry, basic appliances, and furniture. (Wifi and printing don’t count since they aren’t dorm-specific.) I love just going down the hall to get to a washing machine, but I’m not sold on waking up to my roommate’s boyfriend walking around in boxers.
So it’s a good thing I shit $100 bills.
To afford an apartment I’d either have to pay for it up front or call my good friend Federal Loan Service. Taking out more loans kinda defeats the purpose. It might still cost a little less, but they’ll come back with a vengeance after graduation. Instead of paying the normal amount, there will be added interest. Committing to more loans just buys time.
So, find a job and use that money. A part time job wouldn’t cover the full cost each month or leave enough cash to spend on things like food. The choices here are crippling debt or working to the point of exhaustion. It physically hurts to say this, but when you have student loans, there’s no good option for housing.
If we’re in the same boat and you’re insistent on moving out of NYU, the first step would be to contact the financial aid office for a bit of advice. They move your loans around and try to accommodate for your new living arrangement. They will be no help the first 15 times you call. Just keep calling.
Sometimes I think that this corporate college’s benefits outweigh the costs. Then I picture the mountain of bills I’ll be sent in two years and cry.
