<p>I really want to go out of state for college but the problem is that from my calculations, it would be 70k in loans not including housing and meals.I could stay in state but I don't really like the colleges in my state and prefer a more exciting college experience out of state. Btw, I am also going to get my master's degree to so I will take out loans for that too. What do you think? Should I go out of state for college and have a great 4 years and be in debt after schooling?</p>
<p>I'll probably be making 80k-100k once i'm out of schooling. will I be able to pay off like 120,000 in debt (includes masters degree)? any thoughts? </p>
<p>You cannot go out of state. Taking on loans greater than 27K for four years requires you to have a family member co-sign and thereby assume your debt. Don’t be foolish. Think long term, if you can, about the impact 120K in debt (not including room and board, are you crazy?) will have on your ability to buy a house, get a car loan, choose a position you’d really like, etc. All this for a “great 4 years”? Adolescent madness.</p>
<p>That’s alot of money and not feasible for any student, ESPECIALLY if you are going for a master’s degree. Do some research and you will find that you are only allowed to take out approximately 5k in federal loans a year anyway. And whatever you do DO NOT take out private loans. They can force you to default and go into bankruptcy. I understand your situation, but is going to an OOS state school for the excitement worth the risk of your financial future? This is not even taking into account room and board and interest, which amounts to alot more over time.</p>
<p>If you do plan to go out of state, look for places where you can get significant merit scholarships, not a school that makes you take out 70k in loans without even considering r&b. Go to the stickied threads on the financial aid and scholarships forum and start your search there.</p>
<p>Don’t forget you could always study abroad or wait until you’ve graduated for that “exciting” experience. Trust me, otherwise you will live in debt your whole life and won’t be able to afford simple necessities (like a car, for work) not to mention any vacations you plan to take.</p>
<p>Be smart about this. Don’t make the mistake that many others before you have.</p>
<p>I know of very few students who wouldn’t prefer to go OOS. However you need to keep the cost in mind. It’s only 4 years and then you can look OOS for a good graduate program, and live elsewhere after that. Stick it out, save $ and graduate with little debt.</p>
<p>First, there is a financial aid forum where you can read a lot of discussion about excessive costs and debt. Second, it is important that you calculate how much you are borrowing ALL IN, to be very aware 70 without room and board is really $120+ and that is a huge difference. To be casual about the difference shows a lack of understanding about what debt really means. To talk about paying 120k shows you don’t understand compound interest. You will be paying back another 50k in interest. If you are defering through grad school it grows enormously. If you add grad school loans you are talking something toward a half a million dollars. Insane.</p>
<p>There is ‘worth it’ debt that gives you a return on the investment that you sometimes have to make for grad school. Don’t limit your future options by large amounts of unnecessary debt. Something small is a different story.</p>
<p>You can look at lower cost oos options, there is a thread pinned to the top of the aid forum. You can look for automatic oos merit, thread for that too. A semester abroad is something to look forward to, but likely once you are immersed in school you can also find other exciting things to do.</p>
<p>This is coming from someone that is now 40k in debt from college loans… Trust me, you don’t want the burden. Although this amount of debt was unexpected, I wish I had chosen the cheaper route. I’m now unable to take out a loan on a car and I assume I’ll be paying these off until I’m at least 33 (unless my salary takes a sudden jump). </p>
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Leah, based on your past posts, I’m guessing you live in Arizona. If that’s the case, check out the Western Undergraduate Exchange program, which allows you to pay 150% of in-state tuition at many of the colleges in western states like Alaska, Hawaii, California, Montana, etc. This can be a pretty affordable alternative to UA and ASU, and some of them would even be cheaper!</p>
<p><a href=“Save On Tuition | Western Undergraduate Exchange (WUE)”>http://wiche.edu/wue</a></p>
<p>There are some fairly good colleges that cooperate with WUE. </p>
<p>thanks for all your help!:)</p>
<p>Look at the WUE program, like warblersrule indicated, as well as at private universities where you’d bring geographical diversity (I’m thinking Nebraska Wesleyan, Hendrix, Marist, Ursinus, Goucher, Lewis&Clark… for a variety of regions.) Run the Net Cost Calculators. Don’t go to a school that expects you to take more than the federal loans your freshman year (5,500).</p>
<p>Note that unless you plan on being in IBanking, it’s HIGHLY unlikely you’ll be making 80-100k at graduation as even engineers in highly-sought out fields don’t make that much. (salaries for post college grads are in the 30-45 bracket outside of a few fields). </p>
<p>In another post, you reported a high GPA but only 24 ACT. If you can get the ACT higher, or a higher SAT score, some out-of-state schools listed in <a href=“http://automaticfulltuition.yolasite.com/”>http://automaticfulltuition.yolasite.com/</a> may become acceptably low cost.</p>
<p>How much will your family pay each year?</p>
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<p>70k is waaaayyyy toooo much for undergrad. and what do you mean by…not including room and board??? do you need MORE debt for that??? and a masters program would likely be another 50k per year in debt.</p>
<p>crazy.</p>
<p>what is your major and career goal?</p>
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That’s a very optimistic forecast… </p>