<p>I am a VA resident enrolled at a CC for engineering, solid GPA and what not for transfer but the issue is where I want to go. I realize VaTech is a top engineering program and that is my safety school as Im fairly certain I will be admitted for Fall 2015. I am a Hokie fan and everything but I don't particularly want to go there, atleast compared to other schools. So basically is it dumb for me to go to an out of state ABET accredited school? I like UFlorida and UT Austin right now, but the particular school is irrelevant. For example though tuition at UF would be 3-4 times as much as if I went in state to VT, but I honestly wouldnt care because Im very ambitious and don't think student loans (whether it's $30k or $90k in debt) will be an issue after graduation. </p>
<p>So does anyone have an opinion? I want to enjoy college while getting a great education and I think Id be happier at out of state schools.</p>
<p>Listen carefully. You don’t understand the nature of debt or interest. The difference between 30 and 90K in debt is enormous for someone making 50-60K per year. You are not alone in your misunderstanding because 17 and 18yo students haven’t had any reason to borrow 90K before, nor have you had any experience paying it back at interest. Trust me or ask your parents or an adult who has a mortgage, car, and college debt whether they wish they had less college debt.</p>
<p>Having said that, you yourself can borrow no more than about $27K for four years. So, yeah, you can’t just take on 3-4 times the cost. </p>
<p>I’m not saying don’t go to florida or texas or any other OOS public that costs as much as they do. I’m saying you cannot go.</p>
<p>To answer your question: Yes, with an in-state option as good as VT, it is dumb for you to go to an OOS ABET accredited school. </p>
<p>If you do take out $90,000 or more in student loans here are a few terms you and your parents, will become familiar with:</p>
<p>deferment
forbearance
delinquent
default
garnishment
bankruptcy (well, still won’t get rid of your student loans)</p>
<p>Haha well im not saying if I go out of state im gonna go to the most expensive school I can. There’s schools that aren’t so much more, plus even paying in-state at VT will still be around 15k per year. Not much help here though all you guys did was assume I don’t understand loans. I’ve looked at rates and everything. </p>
<p>And the comment about getting $27,000 maximum per year? Im not sure where that comes from.</p>
<p>But still I acknowledge the advice as I asked for it, I really just am not that thrilled about Tech but maybe the logic will prevail before the Fall.</p>
<p>You said you have done research on the topic. Then you should know that the maximum amount that you individually can take out in your name is around 27,000 over four years. See here: <a href=“What is a Subsidized Student Loan? | Edvisors”>What is a Subsidized Student Loan? | Edvisors;
<p>Anything other than that, you would have to take out parent PLUS loans, where you and your parents have to cosign the loans. It means they have to pay the loans back and take on the burden if you fail to do so. Given that you have a much cheaper equivalent education option at your disposal, I don’t think they would be willing to do that as it will affect yours and their financial future.</p>
<p>I’m not saying that you can’t choose any other schools besides Vtech, but given your current situation it would probably be most wise to. If you really want to go OOS, pick schools that have cheap tuition for students. Given your current choices of schools, it would certainly leave you in severe debt after graduation</p>
<p>Look, OP, when you ask people for help, it’s not a great idea to point out to them that they’ve not been any help.</p>
<p>You’re welcome to ignore our suggestions, but please don’t throw it back in our faces that we haven’t offered any help YOU can use or that we’re ignorant of just how wise and experienced you are.</p>
<p>You’re 17 or 18 years old? I tried to be polite and point out why you might not understand the implications of taking out 90K in loans rather than 30K, given your youth and likely inexperience with borrowing and paying back. But, maybe I’m wrong, and you’ve already borrowed and paid back large sums of money to finance your global ventures into sense-of-privilege, world-weariness, rudeness, and navel-gazing. If so, I apologize for not understanding that you’re not like other 17yos I’ve met.</p>
<p>Learn some manners, kid.</p>
<p>Wow I guess textual conversations make it easy to misunderstand tone.
[Listen carefully. You don’t understand the nature of debt or interest.]- disrepectful annotations.
A) Regardless of the total amount borrowed it will have to be cosigned.
B) In-state at Tech, including all expenses would be around 18k/year. ~60k over 3-3.5 years.
so in any case it’s not like I’m getting out of school with any less than $50k in debt In-state or out
C) I will be paying the interest while in school.</p>
<p>I do apologize for sounding disrespectful though, I imagine I just was hoping everyone would support the OOS option because that’s what I want to do more.
So in a more reasonable question— Is the gap of ~$10,000 per year for othr schools something I shouldn’t take on even though I would rather get out of VA?</p>
<p>CC is a forum for people who want advice, not for people who are looking for others to support their poorly thought out plans. </p>
<p>Have you figured out how much an additional $40,000 in debt will be in monthly loan payments? are you parents willing to take out Parent plus loans?</p>