<p>MiChiamano…</p>
<p>How much do you expect to be earning for the first few years after you graduate?</p>
<p>$35,000 a year. Could be more, could be less. )</p>
<p>Well, with expected annual earnings of $35k per year, if you plan on living away from home after you graduate, you need to consider what kind of monthy loan payment you’ll be able to afford. </p>
<p>If your dream private has a COA of $50k per year (as many dream privates do), will you have to borrow $80k or more? (BTW…do you have a co-signer for your bigger loans?)</p>
<p>If you borrow $80k, your loan payment will be $920 per month for 10 years (that’s 3 car payments in addition to your own car payment). The loan payback is during critical years of adulthood - ages 23-33. Borrowing too much can cripple your adult plans - purchasing a home, etc. Many college graduates find themselves forced to live at home, because their student loan payments prevent them from having rent money.</p>
<p>Is going to a dream school worth making 10 years of your life very difficult if your loan payments are high?</p>
<p>Just something to keep in mind. :)</p>
<p>mom2collegekids…I’m a 25 year old non-traditional student, married with a family of my own already who is planning to transfer from a CC and doesn’t own a car and doesn’t plan to do so in the near future. 
Also, my credit and that of my husband’s is to the point of a cosigner not being necessary. </p>
<p>I understand your point, which all should take into consideration. However, specific situations do differ from person to person. </p>
<p>I’m applying to ONE school, where I MAY or MAY NOT end up attending next semester depending on whether or not I am admitted and what the FA package offered looks like. (in addition to whether I am awarded specific local outside awards and scholarships that I’ve applied for.) As long as my AA is completed, I am guaranteed admission at my local In-State Public University, which I am honestly not very keen on attending for various reasons. However, if the chips fall as they do and I end up having to attend that In-State school, so be it. The less debt I’ll have and the more manageable it will be. </p>
<p>However, I’d take the huge amount of debt and deal with it if I had a chance to attend my dream school. Any school that has any of the majors that I am considering (other than the Vocal Performance BM, which isn’t truly feasible for a number of reasons.) is going to be OOS anyway. (I’m in Nevada.) So, its really a rock vs. the hard place. </p>
<p>Thanks for your advice.</p>
<p>:)</p>
<p>Yes, different situations do differ from person to persons - especially when the persons are older and married - as you are </p>
<p>As you know, many/most undergrad students here on CC are either 18 year olds entering college for the first time or 20 year olds transferring. Both groups are typically single and dependents of their parents. Too many (because of their youthfulness and lack of experience of supporting themselves) are determined to take out huge loans with little thought of how repayment will affect their future lives. Sore are even rather jokey about it. </p>
<p>Best of luck to you. :)</p>
<p>There’s no money in research?</p>
<p>The average annual salary for assistant professors (untenured professors in their first 6 years) at my university, Columbia, is $89,000/year. At Emory, with a lower cost of living, it’s $84,000 a year. At Georgia State, it’s $65,000/year, which is a lot less but still a good starting salary. At GSU for associate professors it’s $77,000/year, and for full professors it’s $121,000 a year (although full professors who are women can expect to make nearly $20,000 less per year). At Emory associate professors make an average of $100,500 a year.</p>
<p>Even if you worked at a lower-tier university - like Clayton State University in Georgia - you could expect to make $54,000 as an assistant professor, $64,000 as an associate professor and $83,000 as a full professor. At SUNY-Binghamton, those levels are $70K/$84.5K/$115K.</p>
<p>If you were to do government research, that’s even better. A military researcher can expect to make $85,000 during their first year of employment (including all base pay, housing and subsitence allowances, special pay, bonuses, and tax benefits). Researchers for the federal government can expect around a $70,000 salary their first year at the appropriate GS level. Researchers at private firms and nonprofits can make more or less depending on their level and the prestige at the firm, but all in all they can probably expect at least $55,000 their first year and some think tanks pay rates comparable to the government firms.</p>
<p>Researchers don’t make banker money or even physician money, but they can make a solid upper-middle-class salary.</p>
<p>Besides, it’s not like your only choices with psychology are either research or therapy. Psychology is a major that can be parlayed into a wide variety of areas, provided that you have the know-how to spin your knowledge into what employers want. I was using my psychology knowledge to interview for management consulting firms before I decided to go to graduate school. They liked that my psychology major taught me how to perform research, think analytically, solve problems using scientific and investigative methods, observe and analyze individual and group behavior, and write well.</p>
<p>I borrowed so far 14,000 in private loans, and stafford and other school loans are about 20,000 (between two years) with interest and the next 2 and half years i think about 175k
where i go to school i co-op so i will be paying for some of my loans during school and my salary might start out around 55000-78,000 depending on where i work. This is with no help from parents</p>
<p>I borrowed so far 14,000 in private loans, and stafford and other school loans are about 20,000 (between two years) with interest and the next 2 and half years i think about 175k</p>
<p>I’m confused. Are you saying that in the next 2 1/2 years you’ll be borrowing over $125k? is this for undergrad school? Who will be co-signing these loans?</p>
<p>Do you know what your monthly payments will be if you borrow $175k? They will be about $2000 per month for 10 years. You won’t be earning enough to comfortably make those payments unless you’ll live at home for a long time…</p>
<p>i meant in total of the 4 1/2 years in school I don’t have a home to go to my parents are unable to support me and i trying to get into consulting during school so i pray i wont be struggling to pay bills</p>
<p>^^^</p>
<p>If you don’t have family help, who is going to loan you that much money without co-signers? Or is most of this for grad school?</p>
<p>I put interest on the loans figuring that would be the amount by the time i come out of school. my brother whose in the army cosigned two of them and then i took out one of my own. I did put graduate school (probably get a stripend) or my do y masters in one year</p>