<p>I was accepted to the University of Michigan-Ann Arbor, as well as Wayne State University in Detroit, MI. I want to study Biomedical Engineering. If I go to U of M, I will end up with about $50,000-70,000 in debt, whereas at Wayne, I wouldn't have any. I can complete my Masters at both schools in 5 years, so that debt will be debt with a Masters degree.</p>
<p>U of M has always been my first choice and their BME program is ranked #4, while WSU is not in the Top 50.</p>
<p>U of M has much more to offer and their research opportunities are virtually endless. The only thing stumping me is the cost.</p>
<p>Note: I have worked the figures and calculated the estimated debt after deducting scholarships and money recieved from parents and family.</p>
<p>What should I do? Go to Wayne State and come out owing nothing, or go to U of M and owe tens of thousands of dollars?</p>
<p>Too much debt for UMich…and are you aware that UMich’s costs are higher once you’re a junior and senior?</p>
<p>You should go to WSU at least for the first 2 years…maybe transfer to UMich (but only without a bunch of debt). Go to UMich for grad school.</p>
<p>$50,000 is not an outrageous amount of debt for an engineering degree, although it is better not to have it if you can avoid it.</p>
<p>You can hopefully reduce that amount by getting decent summer jobs, or maybe co-oping a semester or two. Explore cheaper housing and meal options or move of campus after your freshman year, that can save a lot of money.</p>
<p>Why the hurry to get to grad school, though? I think you would be better off working for a few years so you can pay down debt and save some money. Then go to grad school, and a few years of experience will give you a much better idea of what you want to concentrate on. You might even get your company to pay for it.</p>
<p>So no debt with a BS and a MS? </p>
<p>How much out-of-pocket will you be at Wayne state? How much are you and your parents having to pay? Did you receive a scholie from Wayne state?</p>
<p>Biomed degree at both?</p>
<p>$50K-$70K means your parents will be co-signing or taking out a Parent Plus loan?</p>
<p>Is that what you really want? Payments per month for YEARS will be $500 to $700.</p>
<p>For YEARS and YEARS. </p>
<p>Vs. no payments, at all.</p>
<p>What do you want?</p>
<p>Kat</p>
<p>I don’t know what it is about Wayne State, but that school does seem to produce a number of students who go on for PhDs at very good schools…so the school must be respected.</p>