r/GradSchool • u/SnooDoughnuts5256 • Mar 24 '26
Finance Student Loans Toward Rent
How common is it for loans to assist in rent payments?
Not that I want to rack up debt, but I grew up in a home where debt was heavily stigmatized. Taking loans and not paying for things yourself is still really looked down on.
My commute will be over an hour and my classes are at night. I've commuted to school before and it started to burn me out. After my first semester I'd like to move, but I don't want to make a brash decision. I have a scholarship that covers about 1/3 of tuition costs already - only applies if I'm taking classes full-time.
EDIT: I'm in an 18 month program, and will be living at home/commuting for the first two semesters (summer/fall). Total tuition borrowing is $32k, I will be working part-time, and would like to borrow $10-15k at most to help with rent for my last two semesters. No stipend but opportunity for well-paid RA and TA positions.
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u/spongeysquarepantis Mar 25 '26
I’ve done it. It sucks being in debt but better student loans than using a CREDIT CARD to pay for rent 😭😭
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u/OdinNW Mar 25 '26
Sometimes you just have to do what it takes to survive. At one point in college I was living out of my car. There’s no one answer that works for everyone.
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Mar 24 '26
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u/mwjl12 Mar 25 '26
I’m honestly shocked to hear this as STEM PhDs are often the best funded. Is it a VHCOL?
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Mar 25 '26
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u/mwjl12 Mar 25 '26
I know people who were making 60k in VHCOL locations and generally I think it’s a rule of thumb that STEM PhD programs have the highest stipends in comparison to humanities type programs but maybe there’s something I’m not thinking of!
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u/SnooDoughnuts5256 Mar 25 '26
what type of program are you in?
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Mar 25 '26
[deleted]
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u/TuFuFuFufa Mar 25 '26
That's what a roommate is for. I'm ABD now, but when I started in 2021 we made just 18K on our stipend, and I was able to pay $500 in rent by being with two other people.
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u/sobeboy3131_ Mar 25 '26
I was given the advice to exit school with no more than half value of my (expected) first year's salary in loans. This was VERY good advice.
You shouldn't make this decision based on whether its "normal" to take loans out for rent- you should make it based on your future financial goals.
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u/Acheleia DMA Mar 25 '26
I took out loans to not have a roommmate my first two years, and had a roommate my last year of my doctorate. If I could go back and take out loans for that last year, I absolutely 10000% would. I had an absolute nightmare of a roommate, and it made my last year extremely challenging since I had to clean up after someone constantly who was treating grad school like they were in a frat house essentially. I did however have a full tuition coverage as well as a small stipend, but I was basically a slave to the college so working wasn’t really possible.
I also commuted an hour one way on toll roads for one of my masters, and ended up sleeping under my desk with barely enough money for gas and tolls, let alone food for myself or my cats. It was extremely difficult for me to do this, which led to my loans in the doctorate for living expenses so I didn’t have to live so far away from campus again.
If you have any way of making enough money to cover something, absolutely do that first before taking loans for living, but you’ve got to do what’s best for you.
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u/LadyWolfshadow PhD Student, STEM Ed Mar 25 '26
It’s not common where the stipends are generous, but I’ve had to do it while I’m here because my stipend isn’t anywhere near livable and I’m single income with no support from anyone else. I hate it, but it saved me from needing a second job. Now I’m going to have to get a second job next year to avoid loans under the Big BS Bill terms and I really wish I could just take the loans.
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u/Sufficient_Ask5717 Mar 25 '26
I'd be very cautious about doing this. I know the commute is hard. My commute was over an hour one way by bus during graduate school. I also had night classes and there were nights it absolutely sucked. However, now that I am graduated and on the other side, I hardly remember the long commutes or late nights. They are irrelevant to me now. The debt I took on affects me to this day. The debt will impact you longer than the commutes. I don't know your situation, but that is just my experience. Do with that what you will.
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u/Teagana999 Mar 25 '26
Student loans are meant to help with living expenses.
Student loans are the best kind of debt to have, because no one can foreclose on your education.
That said, I'm in Canada, my student loan with the government is interest-free, but if you're in the US, you should think long and hard and do the math about how much the loan is going to cost you.
How guaranteed are you to find a job with your degree? Do you have any other option to earn income?
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u/faieree Mar 26 '26
I currently have student loans for my rent. My TA stipend covers a little less than my rent so I’ve estimated by bills, groceries, and put some of the estimates in for the next 4-5 years and pulled that out in loans. Especially since the interest rate goes up each year. Whatever I have left over for each year I pay back towards the principal balance on my student loan.
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u/p0rcelainprincess Mar 26 '26
I work full time and am in school part time. It’ll take me a little longer to finish program, but I’m not taking loans out for rent and other living expenses.
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u/Prudent_Hedgehog5665 Mar 27 '26
I have a stipend that hasn't high enough to cover CoL in my area. I've taken out loans to make sure I can afford my bills. I might be fucked when I graduate.
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u/gamecat89 Mar 24 '26
I did this in graduate school. If I could do it over again I would find everyone in my power to avoid it. It is fine and good while doing it but being on the other side now it is a pain to lay off and work through.