Student Debt
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You are currently reading a thread in /adv/ - Advice
You are currently reading a thread in /adv/ - Advice
I got accepted to the college of my dreams (for anonymity sake, will only say it is HYPSM). They are world leaders in the technical field I'm interested in and I'm extremely excited to head to this school in the Fall; however, I'm extremely worried about the cost. Coming from a middle class family, I will be receiving $30,000 in aid per year; however, this still leaves $40,000 that I have to somehow come up with. My parents are only willing to cover $15,000 (which they would require me to repay) meaning that over the course of 4 years, I have to somehow come up with $100,000 for all 4 years on my own. Is it worth it to take on this kind of potential debt for HYPSM and if so how do I deal with this amount of financial burden especially if I plan on getting my phd?
Depends on what you are studying. Don't bother if it is some bullshit like women's studies.
Sorry to hear that anon. Trade jobs are always a good alternative.
do it. you could be hit by a car and not have to pay it back, but at least you'll have lived your life following your dreams.
maybe you'll regret it, but at least you'll live life knowing what there was to regret instead of always wondering what if.
>>17131396
>especially if I plan on getting my phd?
No talented academic should ever get into any debt for graduate studies. Your BS will be steep, perhaps, but grad school is, among other things, a process of looking for various fellowships. Almost all schools waive tuition for grad students who receive funding, so living as an impoverished graduate student, having no money but paying little or nothing, should be standard. If it's not, look for a program that is.
>Source: I have an incredibly stupid graduate degree that cost me not a dime, and my PhD wife, likewise, did not pay for grad school.
Also, as long as you stay in school you should not be responsible for starting to repay any loans you take on, so ideally you'll be a newly-employed Dr. Something before you have to start chipping away at your debt. Structure it well and you will get over it eventually--ten or fifteen years of annoying but not crippling payments and it's over. That assumes, of course, that you wish to study something that could eventually be useful or paid. A stamp on your ass from a top-5-ish school should give you access to a higher tier of jobs than many other ass stamps, in any case (obscene but true--Yalies [etc] hire other Yalies, and they're in charge in all sorts of lucrative places).
How can you be so sure that the school's reputation is so good?
>>17131396
What are you studying anon? STEM?
>>17131396
Given you said you'll be entering a top school in a technical field and you expanded HYPS to include MIT, I'm going to guess that's where you got in.
There's a trend in wall st where they hire tons of new ivy tier graduates to work $140K+ jobs. In exchange, they'll make you work 60-110 hours a week (it varies week to week). Why do people fall into this lifestyle? It's because they're like you: finding a way to pay down their debt. They'll switch their history major to an economics major, chemical engineering to maths, so on so forth. If you have no problems with working your ass off for 4 years out of university (think this through, it's a massive commitment), then by all means, go for it! All I can say for sure is congratulations. I got rejected by UPenn and I thought I was doing well, so I can only imagine you.
LOL @ people that literally sign up to be miserable for the rest of their lives
hahahaahahahahaha
