<p>I'm having a really tough decision deciding between a much cheaper state school and a much more expensive school, Northeastern to be exact. I love everything Northeastern has to offer. Idea location, great academics, co-op, i can go on and on. I believe Northeastern can offer me good opportunities as opposed to a state school. I'm worried about the cost though. $35,000 for tuition is STEEP! ($15,000 for room & board) and i'm not wealthy by any means so my only chance is to receive a lot of financial aid. Do you know if transfer students receive generous amounts of financial aid like incoming freshman do?</p>
<p>Is the cost really worth it? Should i just continue my education at smaller state school? My problem is that I think i may regret going to a state school because I've been wanting to transfer to Northeastern for some time now. I do believe you can make the most out of any situation, so I don't think a state school would be terrible for me, it would be what I make out of it.</p>
<p>I’m afraid only you can answer that question. There are plenty of people that have succeeded from a state school, others from top-tier schools. If you really want to go that bad (And for the right reasons) then check out financial aid, loans, etc and see approximately how much you will really be paying.</p>
<p>It all comes to what you will be able to tolerate and if you are willing to sacrifice some financial flexibility down the road.</p>
<p>For example, I am nearly certain that I will be accepted into UMD:CP for Fall 2011 as a transfer student (was accepted in Spring 11, didn’t commit), however if given the choice between UMD and a more expensive private school (say George Washington), I will choose the latter. Not only I do I prefer GW over UMD on a touchy feely level, but I also believe that the opportunities of GW far outweigh those of UMD for my field, thus making it worth the extra cost. </p>
<p>Of course, that choice will only be possible if GW offers a substantial financial aid package, I mean I’m willing to pay a lot more than UMDs in state tuition but I also have to be realistic.</p>
<p>No the difference is probably not worth it. When you have both financial aid packages you will know which place is more affordable. You should choose the place that leaves you with the least amount of debt.</p>
<p>I am actually in the same situation as you are and I cannot answer this question, its such a tough decision.</p>
<p>for me, the co-op is the main reason that I want to attend NEU and I realize that job experience is just as important as the degree you receive. However, my father who is paying for my college made roughly 50k this year before he was laid-off at his job. $45k a year for college is out of the question, so unless I get VERY generous Financial Aid I cannot attend my dream school. </p>
<p>On the other hand, if I attend my state school (UMD) I have to be worried that I will not be able to find a job after graduating due to not having experience in my field (finance) </p>
<p>I don’t know if the burden of paying off $100K+ in school loans is greater than taking a chance at being unemployed for long period of time and (most likely) starting off at a smaller salary.</p>
<p>If you are looking to go into engineering maryland should be a solid school. Just make sure to talk to career services there, get solid grades (3.3+, 3.5 would be ideal), and get good work experience and you will be fine.</p>
<p>Thanks for the replies everyone. I really grasp a better insight of the situation. JAC340, you said it perfectly. Im so attracted to NEU because of the co-op program. I believe having credible internships before you graduating can be really beneficial to landing a job after college. I’m just afraid that if i go choose a cheaper state school, I wont have the same opportunities as if i were to attend NEU and possibly be unemployed, struggling, etc.</p>
<p>I do believe i can be offered a great experience at a smaller state school as well, but I dont wanna always wonder what if i took that financial chance and attended NEU, ya know?</p>
<p>Taking out $90,000 in debt as an engineer is just down right stupid. Unless your parents are going to help cover it you will be destroyed by that much debt (45,000 x 2 years).</p>
<p>Question:
How much can I afford to borrow in student loans based on a certain salary?</p>
<p>Answer:
Based on a salary of:
$33.65 Hourly
$5,833.33 Monthly
$70,000.00 Annually <— Average starting engineer salary is probably around $62,000 or so
I should borrow no more than $40,551.38.</p>
<p>You are making the assumption that no opportunities were given for being an RA (Free board), Grants, Scholarships, other Financial Aid, Work Study or maybe being a tutor at the school. (Not to mention the possibility of joining ROTC or using the military to pay off your school.) Accruing $90,000 of loan debt is pretty unlikely unless literally every possible benefit you can receive was denied. (Which is pretty unlikely.)</p>
<p>I’m pretty sure that you can’t be an RA as a transfer student (at least first year).</p>
<p>Additionally Northeastern has a history of lackluster finaid packages for freshmen entrants:
“Northeastern does not give great financial aid. It was actually one of the reasons why I transferred out. My financial aid package (grants and loans) was roughly half of tuition and room and board for my first year and did not change much for this upcoming year.”</p>
<p>It is widely known that finaid for transfer students is generally much less as a transfer because there are fewer funds available. </p>
<p>The op did not mention joining ROTC or using the military which is why I didn’t suggest it.
I’m just saying as an engineer it is very possible to have strong opportunities from Maryland. Many defense companies and government consulting companies recruit at Maryland for engineers.</p>
<p>Also I don’t put much faith in USNWR rankings but for what its worth:
In Engineering:
Maryland CP: 17th
Northeastern: 64th</p>
<p>What are the ranking for both school when it comes to finance? I imagine finance majors start off with lower starting salaries, thus meaning taking out a loan of $90k+ wouldn’t be smart lol</p>
<p>“If we all went to the place that gave the least amount of debt, everyone would stay in community college, lol!”</p>
<p>Nationwide, the single largest group of traditional-age college students is comprised of those who are attending their local community colleges. Some estimates indicate that more than half of the students in that age group are at community colleges. The second largest group of traditional-age college students is comprised of those attending their home-state public universities. In the end, money talks. Starting at your community college and then transferring to your state U is probably the most economical route for almost all of you.</p>
<p>$100,000 is too much debt to take on for any undergraduate degree. Even if a student were willing to take on that much debt, it is highly unlikely that he/she would be able to do it without a co-signer for the private loans involved. For fun reading on this subject, visit [Project</a> on Student Debt: Home](<a href=“http://www.projectonstudentdebt.org%5DProject”>http://www.projectonstudentdebt.org)</p>
<p>Even if UMD doesn’t have a formal coop program set up, no one will stop you if you want to create coop-like opportunities for yourself. Most of what you get out of your college experience (and life in general) is up to you. If you put together a plan for how you can track down the coop/internship/summer job that will be most useful for your future goals, and you walk into your advisor’s office to ask for assistance with achieving those goals, you can almost be certain that your advisor will be more than willing to help you out.</p>
<p>Oh sorry, just assumed you wanted to be an engineer because you like NE co-op program. I forgot that program allows finance students as well. What is your major?</p>
<p>same problem here i’ve been accepted and my descision is contingent on the financial aid that will decide whether I go there or not no fun waiting for that letter</p>
<p>The less debt the better. Because in the end you are really paying for your experience, not your education. Unless Northeastern’s package ends up being something manageable, stay where you are…when everyone else around you is paying off some 50,000+ college loans debts, you’ll be glad you saved the money.</p>
<p>@Raftguy: The point of my post was not to give a blow by blow. It was intended to support my initial point: There are always options. I personally am trying to attend an Ivy and quite possibly may not have to take out a single loan. Nor do I have any scholarships, not rich, and my parents do not contribute whatsoever to my education.</p>
<p>@Happymomof1: Good info, but I was only making a joke. I’m a community college student at the moment ;)</p>
<p>Thanks for the advice guys, I myself will not have any debt, but I defiantly do not want to dig my parents into a hole. I figure I would need about about $25,000 in financial aid in order to attend NEU. I’m pretty sure 25k is way too much to receive.</p>
<p>Don’t go to Northeastern if you (or parents) need to pay 35k more than a state university.
Northeastern is not worth the money, in my opinion. You can get co-ops and all the stuff at NE at a state university as well. The difference between NE and a state isnt that great. If it was Northwestern or like a top 20 college, it would be a different story. Just hard work now and apply to a better graduate school.</p>
no fun waiting for that letter</p>