How much is too much?

College Search & Selection
1

<p>How much debt is too much to go to a top public school, such as the University of Michigan? The non repayable (scholarships, grants, workstudy) aid that they gave me is just under half of the in-state tuition. After what my parents can afford to pay for my education, I would have about $20,000-$30,000 of debt after four years. Is this too much debt? I'm an engineering major, if that makes any difference.</p>

<p>-Ben</p>

2

<p>No, that's reasonable for an engineering major.</p>

3

<p>any other opinions?</p>

4

<p>i think that's reasonable too. engineering majors will probably get a decent paying job right off the bat too. although this is assuming you will stay in your major, which you may not.</p>

5

<p>I agree with the other posters. </p>

<p>$20-30k total debt is not unbearable. Engineering is one of the more lucrative majors and you should have no problems managing that debt graduating from UMich.</p>

<p>Good luck!</p>

6

<p>Since it's in-state, it's probably the best deal you're going to find. Go for it.</p>

7

<p>20-30k is significant but manageable. Do you have any cheaper options?</p>

8

<p>Nope =\ This is the first time my family has been through the whole college thing, and no one really knew much about how financial aid works. We figured MSU would give me at least some money, since I would be in the upper end of the entering class...no luck there. I guess Community College would be the cheapest option.</p>

9

<p>I'd say go for it. Even if you go to graduate school in engineering after graduating, you won't have to pay for your education then, and hopefully all these loans you'll be taking out are subsidized, so you won't have to start paying them back until after you've gotten your MS/PhD.</p>

10

<p>Would the 20,000-30,000 be too much for an economics major at say CMU or Chicago?</p>

11

<p>To Bennis and Chicagoboy, a 20-30k debt is pretty normal for students graduating from college. Such a debt is significant but manageable. Considering the schools you guys are looking at (top 20 universities), I say go for it and don't worry. It is definitely a worthwhile investment.</p>

12

<p>The only way it might be a big deal is if you're planning on going to grad school and it's not funded; otherwise I imagine in a field that has rather high paying jobs for graduates you shouldn't have that much of a problem.</p>