<p>I see a lot of threads about whether or not it's worth it to go into debt for a prestigious school versus a free-ride or almost free-ride to a state school, and the answer seems to resoundingly be stay out of debt. But how does this change when you're going to need to go into debt no matter what? As an example, here's my situation:</p>
<p>I was accepted to the U of Minnesota, and I would need to pay $14k per year. I was also accepted to Northwestern University. I have yet to receive my financial aid package, but - if the statistical averages for NU hold true [I did (COA - EFC) * .24 [the average need-award in loans and jobs] + EFC] - it should be something like $22k per year.</p>
<p>So, how much IS it worth it to go to a prestigious university? I would need to take out $56k in loans for UMN and $88k in loans for NU, a difference of $32k. I don't know whether or not it's worth it (for an Engineering major). I'm leaning towards going to NU because I think that the extra opportunities there would make up for the difference in the long run, but I could use some advice by people with more experience or those who have been down this road before.</p>
<p>Of course, this could all be moot because I could get drastically different aid than the average. ;)</p>