<p>Note: There is a too long; didn't read version at the bottom with minimal story-line...it is recommended.
So I'm in a situation that's probably not terribly uncommon. My parents have an above average income on paper, but we're supporting a larger number of dependents than the four reported on taxes [my cousin's family, my grandparents, two kids who are out of the house etc...] living at home. </p>
<p>I have a state scholarship, but my AP credit is being counted against me as attempted hours and a lot of it is irrelevant to my major. I'm transferring out of my current school because there isn't really support for my field...they have research that's in my major, but none of it pertains to my field of study and graduate school is extremely competitive. My adviser said that I should transfer out, he said there wasn't really a good school for me instate :S he recommended his Alma Mater...Caltech... and that's not going to happen [...application is processing, but not planning on it ha ha...] so I need to figure out where I <em>am</em> going to school.</p>
<p>If I stay in-state I'm going to run out of money next term <em>without a degree</em>, with about two years to go. The state tuition is ~20k without scholarship, that's sort of stomach-able with financial aid, but I'd rather not consider the lack of research here.
I have been accepted to a handful of top 10-20 programs in my field for transfer, and am still waiting to hear back from some programs...but the problem is that they all cost enormous amounts of money. I'm interested in a very academic field, and funding a good program isn't really expensive...it's just that you cover your basics first and it's sort of like academic dessert? All the Ivies and MIT/Caltech [plus a few top notch "public" schools like Berkeley and Michigan] have the best programs, most schools don't even support the research to begin with.</p>
<p>What is a reasonable amount of debt for someone considering an academic career? I'm concerned with the cost of buying a nicer car, or a house, or starting a family until I'm into my thirties...How much do you think I can justify spending on school? I am expecting 20-30k a year for graduate school in fellowship/TA-ship money based on the graduate forums for my field [and that's average, not optimistic] and if I don't get that I have an industry fall back or...seven, I know how bad the job market is in academia...but I'm not giving up unless I don't get offered any more for graduate school, and I have good grades and good test scores...so if I don't...I guess I'll have to quit then.</p>
<p>TL;DR
I need to transfer because my state scholarship is running out and staying in-state isn't that viable for graduate school anyway. How much is reasonable to rack up in loans for an academic career? I'm not going to pretend I have an excellent sense of money when you're talking about quantities over ~10k...</p>
<p>It’s confusing when your posts read alternately as if you are the parent & the student.</p>
<p>I am somewhat confused, but if I read this right you are two years away from completing your degree. Your current university does not offer research in the field (or at least the subfield) you hope to study in grad school. Staying in state for your last 2 years will cost you $20K per year. You have no expectation of any need based aid if you transfer to an OOS institution, as your parents’ income is too high.</p>
<p>Options I can see:
- See if your state has reciprocity with any states where the public universities have stronger research options in your area of interest.
- Stick it out at your current university. Get top grades in you major (even if you can’t do much in the subfield). I assume it is a science major, given your Caltech interest. See if you can land a research opportunity for the next two summers in the area you are interested in. Worst case, you can sublet very cheaply on most top university campuses (eg, in Ann Arbor) – you could work a part time job, and volunteer for a prof in an area you are interested in if you have to in order to get a foot in the door.</p>
<p>It seems ridiculous to transfer as full pay to an OOS or private institution with no need or merit based aid. And will likely result in you being up to your eyeballs in debt for a long time even if you could figure out how to pull it off financially. Your advisor may think a transfer is a great idea, but he is surely not going to pay your bills.</p>
<p>Many schools have “exchange” opportunities with other schools, like abroad programs, only in the US instead. Often, you pay the same standard amount to your own school for the time you are away on the exchange. You could find a school where research you desire is happening and see if you could participate for a semester, or year, or summer plus the next semester. Then, go back to your own school, finish, and graduate. It isn’t necessary to transfer just due to research opps. Those can be found in many places without needing to completely transfer. Even local hospitals may be doing research you can get involved in (or related businesses, etc, near your area that do research).</p>
<p>hey have research that’s in my major, but none of it pertains to my field of study and graduate school is extremely competitive.</p>
<p>Doesn’t matter - a lot of graduate students do research in fields that are very different from what they study. My first research project was on child motor development and I do HIV prevention research now.</p>
<p>If you want an academic career, after you finish your PhD you will likely spend 2-5 years doing post-doctoral work, during which you will make $35K-$45K. Then if you are one of the lucky ones, you will get an assistant professor position - those should pay anywhere from $55K-$75K depending on the kind of job and the area of the country you’re in. You shouldn’t borrow too much, because you will not be able to pay it off easily. Anything more than $40K is going to be difficult for you to pay back.</p>
<p>Here’s what I think you should do - finish your bachelor’s degree at your current school, and do research in your area, even if it’s not your exact subfield. There are many subfields that it’s difficult to get undergraduate experience in simply because there aren’t enough undergrad programs in them. Like some others have said, seek out other ways to get that experience - a domestic exchange with another school, a summer research program or two, something. Then apply your senior year. If you don’t get in, take 2 years off to work as a lab technician/project coordinator/lab manager and do research that way.</p>
<p>Also, if you live anywhere near Caltech, see if you can do research with Caltech professors from your home university. Most professors won’t turn down talented, free labor just because of university affiliation. Ask your advisor for some connections to local universities that are doing research.</p>