<p>Hi, I'm a transfer student looking to transfer from my local college (UMass Boston) to a higher caliber school, the University of Maryland at College Park. I'm going into my junior year. It's been killing my mind thinking about whether or not to transfer. </p>
<p>Since I'm a transfer student its harder to get aid so I basically have to pay it all out of pocket and it'll probably end up getting 40k in student loans my last two years. At my current school I barely have any loans, and I could potentially double major in Economics and Business, but I'll probably not have the same chance at Maryland. </p>
<p>Basically, do you think the education there is worth 40k of loans? I just don't want to buried under massive amounts of loan on graduation.</p>
<p>Any input would be great! thanks!</p>
<p>1) Just exactly how much money do you owe now?</p>
<p>2) Where exactly do you think you can get 40k in loans for two years (20k each year)? </p>
<p>3) Are you planning to get a job after you graduate? What would your likely starting salary be?</p>
<p>4) Are you planning to go to graduate school? In what field, and how soon after you graduate?</p>
<p>5) Have you run any of the loan pay-back calculators at [FinAid</a>! Financial Aid, College Scholarships and Student Loans](<a href=“http://www.finaid.org%5DFinAid”>http://www.finaid.org) or at [College</a> Calculators - savings calculators - college costs, loans](<a href=“College Board - SAT, AP, College Search and Admission Tools”>How Much Will College Cost – BigFuture | College Board) ?</p>
<p>I’d recommend that you stay put, or transfer within your home state. The economy is lousy, and it is going to be a while before paying back this kind of loan burden will be easy.</p>
<p>Wishing you all the best.</p>
<p>I would recommend staying as well. You have the opportunity to double-major and start off post-graduation with less loans. $40,000 is a down payment for a house! </p>
<p>If you were to try and transfer, consider higher ranked schools with better opportunities for financial aid. (Top 30 National)</p>
<p>Search for schools that are need-blind, meet full-need, and possibly have no loan policies in their financial aid. These schools would require higher GPA’s though, 3.5+.</p>
<p>i would imagine someone majoring in econ/business could come up with a better way to spend/invest 40K than on out of state tuition with PERCEIVED benefits.</p>
<p>Why would it be harder for transfer students to get aid, in general?</p>
<p>I don’t think that UMC is worth $40k in loans, unless it has a prestigious program in your chosen major that will pay big bucks upon graduation. I’d say stay put. If you want to transfer, find a school that will give you merit scholarships or some other aid and keep it cheap. That $40k plus interest adds up FAST. In some places, $40k can actually BUY the house. Or, it could buy a car, a down payment on a house, and a nice vacation.</p>