With my major I’d probably end up as a professor at a university. Those salaries seem to vary depending on the institution.
We posted at the same time.
Is it always 15% a year? I thought some people spend between 10 and 15 years paying off debt.
You can read about repayment plans at studentaid.ed.gov
There are interest and payment calculators on various websites as well. Don’t forget to account for all interest accruing between when you take the loan and when you finish grad school and have to start paying.
Keep in mind that not everyone gets in to PhD programs or get on the tenure track or even stay with the major they originally targeted.
In the universe in which people have different opinions and preferences. I prefer Evanston weather to st Louis weather
I like cold weather…
I will be studying Linguistics. Idk if you wanna classify that as humanities or social sciences or STEM, but most of the PhD programs for it are fully funded.
I don’t expect any school (peer or otherwise) to match the crazy aid package that WashU gave me. Northwestern’s package was really big, especially compared to other schools I got into.
@PurpleTitan I think I just figured out how to reply to comments 
… you are now the third out of many people who says 20,000 is not a lot
@PurpleTitan I believe I already said “if I stick with my major.” I am well aware that plans can change. (My sister switched from engineering to psychology after her first semester)
@philbegas that’s the third time that has happened since I got into northwestern
I went to the master REU site and plugged in the keyword linguistics. 4 opportunities came up. https://www.nsf.gov/crssprgm/reu/list_result.jsp Your department will know of other opportunities in the field that aren’t “REU”. Applications for these kinds of opportunities usually open November- January. Keep checking and be ready to work on applications over winter break.
It is possible to earn a few thousand over the summer if you are quick off the mark. Start the year by checking in with your advisor a couple of times a month. Stop in a visit with professors in the department. Read up on journal articles they have written and see if there is anything interesting in them to discuss informally with them. Go to any events that the department has and ask the older students what they have done for academic year and summer research. You want advice and you want solid relationships within your department for writing letters of recommendation.
The career office should be visited in October and keep visiting. They can help you learn how to craft a resume and write a cover letter.
@“Snowball City” I’m confused… which school are you saying I should attend??
I think you should go with whichever you prefer.
REUs and the like are paid summer research opportunities. Pay is usually in the neighborhood of $4000 and room and board.
Would you be willing to be frugal and end up with fewer loans?
The debt be be minimized if you are careful with your spending money and prepare for summer research opportunities. As you are considering grad school, the things listed above are things you should be doing anyways.
Posting on here means that you are willing to think things through and not just make an emotional decisions. If you are this careful with your money now, that is likely to carryover to your daily life.
Bear in mind that what you think now will only be $20k may end up being considerably more due to factors beyond your control like the economy, state revenues, crises in your personal life that make it hard to graduate in time, major disruptions to the United States such as an unforeseen war, et cet. I vote for the cheaper option.
Is $20K a lot? Well, like a lot of things, it depends – on a number of factors, including you and your family’s financial situation, your tolerance for debt, your likely future plans (including summers), the type of loans (is it the Federal Direct Stafford loan?).
From what you say, though, it sounds manageable. It’s true that no (or less) debt does give you more flexibility, but that amount is not a lot and it sounds like it won’t be a burden or a serious limitation.
That said, these are both very good schools, and the differences between them (in overall quality of education) are likely to be minimal.
I see that you made another post asking about these two schools. Regarding what you asked there, you’ll be fine applying to grad schools from either of these schools – they are both very very top schools. And I’d also think that if you really want to go to Northwestern for grad school, it might be better to go somewhere else undergrad. But as you realize, plans (and majors) can change.
Bottom line, in this case, I’d say don’t worry about the debt, don’t worry too much about exact grad school plans, and focus on which school is better for your major (and other academic interests), which school is a better fit for you, and which you like better. If that’s Northwestern (and you seem to say it clearly is), go with it.
@csdad2 thank you! I sent in my deposit for NU yesterday! So excited!