<p>I agree with rcefn - what seems to be a big thing right now will likely be a distant memory by December. A large school like UMd offers a great many opportunities, especially for those in the honors program and who are assertive in seeking out those opportunities. The financial advantage will get more significant and the prestige thing will lessen over time. It is likely that once you get into the culture, community, and spirit of UMd you will be okay with your decision. Once you graduate and you don't have to worry about a crushing debt that limits your employment and further educational options you will be even more than okay with the decision.</p>
<p>Make a good-faith effort to give UMd one year and see how you feel at that time. Transferring is always still a possibility but odds are you will not need to go down that path. And, if you do end up transferring to another school, you will find that it is not that difficult to assimilate into a new school -- although I spent all four years at the same school for undergrad, the three people I was closest to were all transfers, I roomed with two of them and I married the third. </p>
<p>Good luck - you're going to have a great year!</p>
<p>You made a very smart, savvy and intelligent decision. Going deeply into debt for an undergraduate education is a very bad idea. Instead, you will get a top-notch education at a respected school's honor's program. You will graduate with minimal debt, if any -- and you'll have a world of options for grad school. Realistically, it's grad school that matters. And UMD is the type of school that feeds into grad schools -- the best of them. </p>
<p>Time for you now to get excited about MD. Get onto boards, meet people through facebook etc. Soon you'll get in touch with your roommate -- if you haven't already. Fact is, you're on your way to an exciting, fun and very enriching part of your life. Embrace it. And congratulations!</p>
<p>OP -- I was in a very similar situation of choosing a college based on finances, and as much as I don't want to discourage you, I feel like I should tell you about my experience. I got offered a full scholarship to my in-state university (Rhode Island...so, not that much of an accomplishment) but really didn't want to go there. It's not a great academic school, and also has a rep for being very cliquish and high school-ish. Additionally, I knew that I was "too smart" for URI (pardon the cockiness, but I get the feeling it's how you feel about Collge Park as well) and knew that if I went there, I would treat it like high school, party all the time, coast to a 3.5 gpa, and never study. Much like yourself, I got a token merit scholarship to the college I really wanted to attend, but despite the scholarship I went in knowing I would graduate with about $60k in debt, because with two younger siblings my parents really couldn't afford to pay my tuition. </p>
<p>Now it's four years later and I just graduated from my first-choice college. I am $65,000 in debt, I'm working the same job I had in high school, living at home for a year while I apply to law school, and wouldn't change a single thing about the decision I made. I fit in MUCH better at my college than I would have at URI, made a ton of friends, finally learned how to study (important for law school and something I never would have learned at URI), made some great contacts and had an incredible college experience.</p>
<p>I'm not necessarily advocating that you try to get your admission to CMU back. But you should think about how much you want to let a few thousand dollars control your life. I know $80,000 seems like a lot of debt now, but you can defer payment of your loans as long as you're in school (that includes graduate degrees like med school or law school) and by the time you enter your professional life it becomes just one more monthly bill to pay. To me, it was worth every penny.</p>
<p>I started off at a mediocre but well respected school and had guaranteed transfer to my dream school. The difference in experience was mind boggling. For me, it was worth the debt. </p>
<p>That said, I've worked professionally with professors / researchers from UMD College Park and they are very impressive individuals. If you choose to stay, get beyond your perception of the school and seek out what incredible resources it has. There are some truly brilliant minds on that faculty.</p>
<p>Honestly, I would want to feel good about myself and go for the prestige.</p>
<p>I mean, there's a BIG difference between Carnegi Mellon prestige and that other no-name college.</p>
<p>You should do whatever makes you feel more self-confident, and go for the confidence-booster college. You'll feel sooooooo confident and good about yourself.</p>
<p>On the job transcript sheet, people will see Carnegi Mellon, not that other college.</p>
<p>Of course, there really is not much of a difference in prestige between going to Yale and Rice, but there is a difference in your case.</p>
<p>Come on, all humans have their pride and want to be validated for their hard work. I didn't study so hard and give it all I had in high school to settle for community college, and you should get what you deserve.</p>
<p>Besides, after you go to carnegie mellon, you'll get a great education and be on the fast track to eliminating that "debt" or whatever you call it.</p>
<p>that's what i was talking about, there's really nothing to feel good about, and nothing goes to waste, life's a series of self-improvement, if you constantly need to feel good about being associated with a school, a job, you are not going to be happy.</p>
<p>$20k a year in loans, or $80k over four years, at 8.5% interest (IF you could get it), with a 1% origination fee, works out to $1,001.90 per month, every month, for the next 10 years after graduation (and that doesn't count the interest accrued while you are in school - you can defer payments, but the interest will continue to mount up.) To pay that off at 10% of your income would require that your average income in the first 10 years after graduation is $120,000 per year. </p>
<p>You just made the best decision of your life.</p>
<p>Get on a facebook group for UMDCP and ask what colleges everyone else who is going there turned down and why. The answers might make you feel that you are not alone and that others made the same decision which might convince you that yours wasn't so bad either.</p>
<p>The only stupid decision would be not to go to Maryland. It did not harm the future of a Google founder any. CS is an area that does not dwell on prestige. If you can do the job you will get ahead. Nobody will give a crap where you went to college.</p>
<p>or maybe you should take a year off and try again for cornell :)</p>
<p>we started dropping need-based loans for low/middle-income families, or that's what finaid.cornell.edu webpage is telling me. so you will graduate debt-free</p>
<p>"Median annual earnings of wage-and-salary computer programmers were $65,510 in May 2006. The middle 50 percent earned between $49,580 and $85,080 a year. The lowest 10 percent earned less than $38,460, and the highest 10 percent earned more than $106,610. Median annual earnings in the industries employing the largest numbers of computer programmers in May 2006 are shown below:</p>
<p>Software publishers $79,270
Computer systems design and related services 67,880
Management of companies and enterprises 67,170
Insurance carriers 65,650 </p>
<p>According to the National Association of Colleges and Employers, starting salary offers for computer programmers averaged $49,928 per year in 2007.</p>
<p>According to Robert Half Technology, a firm providing specialized staffing services, average annual starting salaries in 2007 ranged from $55,250 to $90,250 for applications development programmers/analysts, and from $60,250 to $94,750 for software developers. Average starting salaries for mainframe systems programmers ranged from $52,250 to $70,750."</p>
<p>(from the Department of Labor)</p>
<p>In other words, the odds that you could EVER pay off $80k in loans are extremely poor. Your parents are very wise people.</p>
<p>lol, i'm pretty sure if he did CS, and found a job after graduation, he could pay off his loans... but it'll take a while, it took me 1.5 years to pay off my 35K loan, thats with a very good paying job(similar to CS) and a lot of careful budgeting.</p>
<p>UM College Park is a great school. Are you talking to kids there on facebook? I think it is a good idea to give it a try. See how you feel about it at at the end of fall semester.</p>
<p>It is not good to start your post-college life with a lot of debt. Seriously.</p>
<p>For every person that I have talked to that said that I went to expensive Private X university and it was the "highlight of my life, and I met all of my closest friends there, and I loved every minute of it, and I would never, ever change a thing and I don't regret one second of it", I have met another person who has gone to in-state public university and said that it was the "highlight of my life, and I met all of my closest friends there, and i loved every minute of it, and I would never, ever change a thing and I don't regret one second of it."</p>