<p>So I got accepted to Hofstra, Drexel, University of Rochester, University of Southern California and Jacobs (It's a German university following US system).</p>
<p>I intend to major on Physics. I could really use some help to decide where to go. My question is both financial and academic wise.</p>
<p>I am basically deciding between Rochester, USC and Jacobs.</p>
<p>Rochester: I have to take a 10,500$ yearly Fed loan.</p>
<p>USC: I have to take a 5500$ yearly Fed loan and possibly a few thousand in private.</p>
<p>Jacobs: I have to take 7500 Euro loan yearly. Their course is three years.</p>
<p>Now I know plans change but for now, I see myself in future as a researcher of physics so that means I have to go to grad school and get my PhD. Now many people are advising that with those amount of loans, it's a stupid decision either to go for physics major or plan to be researcher. Since my family and I just moved to USA recently, we are still very confused about the whole education loan system that works here.</p>
<p>So I could really use some words of advice to help me decide where to go.</p>
<p>If you go on to a PhD in physics, on average that degree takes seven years and you have to live on a stipend of $25-30,000/yr during that period. And keep it mind that it is very competitive to get that graduate opportunity. So I would think that you would want to minimize your debt accumulation during your undergraduate years. I don’t know anything about Jacobs, but if you perform well and take advantage of the opportunities given to you then any of the US schools can prepare you for grad school.</p>
<p>Jacobs has a three year BSc course as opposed to traditional US four years but they cover same materials and i found out that their alumni are studying in top US graduate schools. they also have internship opportunities with places like Max Planck Institute so their academics is pretty fine.
But you are right, I am worried about debt accumulation and my parents are even suggesting me think of a different major. But this has been my dream always and i really dont want to throw it away for money</p>
<p>Here’s the calculator that you need to use to compare those aid packages: [FinAid</a> | Calculators | Award Letter Comparison Tool](<a href=“Your Guide for College Financial Aid - Finaid”>Award Letter Requirements - Finaid) For more information about how the US loans work, check out other sections of that same website.</p>
<p>Generally speaking, the lower the debt the better. How does Rochester get you to $10,500 in federal loans? The Stafford maximum for Freshman year is only $5,500. Is a Perkins loan included? Has Rochester determined that you are independent for financial aid purposes?</p>
<p>At today’s exchange rate, EUR 7,500 = USD 9908+ What are the terms of that loan? Is it guaranteed to you by Jacobs? Print out those details, and compare them to the pay-back information for the Stafford Loans (and Perkins if it is in your aid package).</p>
<p>Did you apply anywhere else, and what are those aid packages like? Chances are that you could study Physics at one or more of your home-state public universities for a lot less money, and still get into a good grad school program.</p>
<p>Yes I was offered Perkins loan by Rochester but not by USC. And no, I am still dependent on my parents. </p>
<p>And as for JUB, the interest rate is 7.75% and repayment plan is 7 years which can be extended to 12 years at most. </p>
<p>Unfortunately I did not apply to any public schools that’s why I am in this situation right now. I was expecting scholarship which I did not get unfortunately so I don’t know right now what to do.</p>
<p>If you do decide to go to Germany, don’t forget to factor in travel costs. Also, it seems that Jacobs University Bremen doesn’t seem to be a highly ranked school, which would further impact the value of your degree in the United States.</p>
<p>Seems like USC would come out to be somewhat cheaper than Rochester? And should be your choice.</p>
<p>I don’t think you can go wrong at either of the two US choices (I know nothing about Jacobs). Have you visited the schools to see which appeals more to you? How many dollars in private loans to USC? Pending where you’re traveling from, there could be significant travel cost differences between USC and Rochester - and Germany. </p>
<p>If it’s a toss up, I’d probably go with $$. If you feel yourself drawn one way or another, go there (assuming the costs are all about the same).</p>
<p>How much can you and your family afford to pay? You would get Staffords at almost all of the colleges and universities in the US. Talk your situation over with your guidance counselor, some of the public universities in your state may still be accepting applications for the fall.</p>
<p>If you and your family determine that none of these three on your list are truly affordable, you should consider taking a Gap Year so that you can come up with a better list for yourself. Lots of people do that. Just be sure that you do not take any college classes at all during the gap year, because that could make you a transfer applicant at some colleges and universities.</p>