I suggest you take on the loans. If you go to work now, you will make only about $7 per hours, am I right? If you work for one year, you can earn possibly enough money to get you buy, but if you go to school now, you will graduate a year early and during that extra year you will earn much more than $7 per hour, right? Assuming you only make $14 dollars an hour after you graduate, that is still double than what you can make if you work now. That should more than make up for the interest on the loan.