<p>Right now, I'm an engineering student at CU-Boulder, a pretty good engineering program. I was also accepted as a transfer for this fall at Cornell Engineering, but I would have to take out 30,000 in loans for all 4 years I will be there. Is it worth the debt for the education? Is anyone else in a similar situation? I worry that the increased job prospects and reputation won't be worth the debt.</p>
<p>You'll be transferring, but have 4 years left?</p>
<p>The short answer would be yes in my opinion. However, not everyone will agree with me.</p>
<p>Only $30,000, I say you'll be in good shape. I'll be about $70,000 in debt when I finish my B.S and M.Eng. The one thing I will warn you about is not to base those numbers on your first year numbers. Many universities will entice you to attend by inflating your first year worth of finanical aid and Cornell is no different. I'd expect a higher number.</p>
<p>As for is it worth it I'd hunt done a meadian salary report from your school and compare it to what Cornell engineers get.</p>
<p>lol i created the thread cornell or not. If u read that u will know im in a worse situation. I'm international student and its harder to find a job. If I go there my debt will be a lot more than you for only 2 years</p>
<p>30k is very little. it's worth it</p>
<p>What I meant was that I have 30,000 in loans every year, for a grand total of 120,000 at the end.</p>
<p>no.. stay at boulder then go to good grad school.</p>
<p>120,000 not worth it, ru kidding me, thats an incredible amount of debt and would take probably 20-30 years to pay off, not only will it hurt your ability to get a mortgage on your house or buy cars, but it is just not worth it.</p>
<p>It would be cheaper to apply for an M.Eng. from Cornell after finishing your degree at Boulder. Assuming you do well.</p>
<p>OUCH! You will have to weigh the pros and cons.</p>
<p>It makes me feel extremely lucky to have parents who are more than willing to pay the Expected Family contribution. . .and a community that gave me enough scholarships to pay for all of my first year and most of my second year of college to have under $20,000 in debt when I'm finished.</p>
<p>I cannot immagine taking out $30,000 a year. . . . and personally, I think you're better off waiting for grad school!</p>
<p>NOT worth it.</p>
<p>I agree with raven, the harvard boy, he may know something, I mean he is going to Harvard :). I do not think more than 45,000 in debt is worth a college education. Grad school is much more important. I can't tell you the # of kids who have gone to schools like Columbia, Cornell, Duke, or w.e. and some just end up at really mediocre grad programs b/c their #s weren't up to par. That is what really matters.!</p>
<p>Thanks collegekid. </p>
<p>Just to clarify, my sentiments are not exclusive to Cornell. In my humble opinion, NO college is worth 100k+ in debt when there is an affordable alternative. Not Cornell, or any other school.</p>
<p>how did you get into Harvard btw, any magic formula? :)))</p>
<p>Yeah I'll PM you the Dean of Admissions cell phone number. Keep it to yourself though! ;)</p>
<p>I agree with everybody, & I'll be $40,000 in debt. I know of one Hotel School student out $100,000 upon graduating. I just have faith that people have survived the debt before, and as long as we can meet all the payments it will pay for itself in the end. :)</p>
<p>you realize that 40,000 with 5 percent interest can turn into like 50,000.</p>
<p>If you're taking out student loans in your name there is no interest for a certain number of months after you graduate.</p>
<p>i'm in a similar situation. I have to choose between UW madison and Cornell for chem engineering. UW is offering me a full tuition scholarship whereas Cornell has offered me zilch and my parents would have to take out 20K loans a year, I'd take out probably 10K loans to conver everything. Anyone out there want to convince me that Cornell is worth this, cuz right now I'm definetely leaning towards UW Madison. Thanks a bunch!</p>