I’m looking to get $10k worth of private loans per year for the next two years. I got pre approved with one lender for 17-19% so I’d pay like $100k total over 10 years. I got rejected everywhere else. This is per guidance of my financial aid department at my university, they told me my only option is private loans.

PLEASE READ BEFORE COMMENTING:

– no I cannot live at home
– I’ve already done two years of community college and I go to a cheap state school
– I get free tuition
– I’ve already factored in FASFA (grants and loans)
– I work a part time job and have factored that in as well; I doubt I can work full time and pass my classes unless I switch to an easier major with bad pay after college
– this is with living with roommates
– I can’t get a co-signer

I’ve already factored in everything if I want to finish the two years left on my degree I have to take out loans so don’t try to find a solution where I don’t, the only other option is dropping out.

So I was wondering if I should just drop out and work 80 hours a week for the rest of my life to survive or if I should take on the loans.

My projected income is as follows:

0 years: $55-65k
5 years: $70-90k
10 years: $100k+

I’m majoring in accounting if that helps and I’m in the DFW area.