<p>I’m not going to write a wall of text about this, but I could. </p>
<p>I live in Florida. I have my whole life. Since I was a little kid, I thought I was going to go to UF. It’s a good state school. And the engineering program is good, too (If I went to Brown, I’d major in economics). Fast forward and I’m in high school, I want to go to Brown. For a few years now, my parents have given ample thought to me going to somewhere like that. They obviously want me to not go, but they say the decision is mine. </p>
<p>I really want to go, and I want to apply early decision. They are worried that either I won’t like it away so far from home as well or the more expensive part. Going to UF would be basically free. </p>
<p>To make a long story short, my parents’ worries are starting to seep into mine. Now I am beginning to worry about if I will like it, or if going there will make me unsuccessful out of school because of student loans. </p>
<p>Anyone able to identify?
What should I do?
I know deep down that I love Brown. I want to go. I am worried that I subconsciously want to go because of the experience, and not the education. Won’t debt out of college make a person kind of unhappy?</p>
<p>If this post is stupid, feel free to tell me.</p>
<p>If your not entirely sure I’d visit the campus. The gut feeling you get can really help you make a decision. If the cost is an issue, then I’d recomend applying RD and visiting if you get in. </p>
<p>The loans are what you make of them. Yes, once you get out of college, they will be a pain, but they will only make you truely unhappy if you let them (as a side note, you may qualify for Brown’s financial aid, it’s always worth a try, and even if it’s not much, every little helps). What it comes down to is if you think that four years at Brown (and college is about overall experience as well as education) will make you more happy than the loans afterwards, then go with Brown, but if not then go to UF. </p>
<p>Personally, I’d go with the dream school everytime. Life changes fast, and making decisions based purely on money will leave you unhappy in the long run. I can’t give you a hard and fast answer, because its very personal, but if I were you I’d make sure that you think about it and be honest with yourself for your reasons, and try to seperate your worries from those of you parents, in the end they just want you to be happy. I would also recomend talking with an adult, parents, aunts, uncles, close family friends, who you feel comfortable with, as they can help you to clarify your own thoughts and provide you with a fresh perspective.</p>
<p>Okay. So I’m a Floridian and I was in that EXACT SAME POSITION!!! I’m at work now though, but I’ll PM you when I get home what I did and how I made my decision to go to Brown.</p>
<p>I have this issue as well. But because I like engineering, and UF is better than Brown at it. I am also worried that majoring in economics even at an Ivy will not be as good for a career as an engineering major. It seems pointless to engineer at Brown over a well-ranked state school. Engineering opens up patent law, too. But I love economics more. Everything about it. I don’t think it’s actually possible to have bad job prospects from Brown, though, right? </p>
<p>So, do you think you could tell me why you picked Brown, just as you told jw?</p>
<p>Majoring in econ at an Ivy are pretty good for a career, as good if not better than engineering. I have friends who majored in applied math/econ (the hardcore econ major) at Brown and are doing great in the financial sector. There’s also this combined econ-engineering or business-engineering thing at Brown that my roommate did that might suit you (I’m told its like the Wharton engineering program but less prestigious). </p>
<p>I’d also agree with the above poster’s advice about going for your dream school every time and worrying about the money later. If you have the app for Brown, you should also look into some other top colleges which may cough up more financial aid.</p>
<p>There are many loan calculators out there. Do some research. Figure out how much debt you will graduate with, and what the monthly payments will be. Figure out what your starting salary might be with an engineering or economics degree (and remember to adjust it by deducting taxes). See whether that salary can support your debt load, and if you will have enough money left over to pay rent.</p>
<p>You can’t dismiss student loans through bankruptcy. They are an albatross around your neck forever. Taking out huge debts could affect your life forever – making it impossible to buy a car or a house.</p>
<p>Have you run financial aid calculators, and gotten an estimate for how much financial aid you might get? Also remember that it is not as easy as it used to be to get large amounts of student loans.</p>
<p>If money is a big deal, then apply to Brown regular decision. The small boost you get from ED is not worth it if you need money.</p>
<p>Every single night that I go to bed I worry about the financial aid issue. I ask myself if it’s worth it to apply to any Ivies. Because $100,000 debt out of school is not fun. Even for a high earner. So you ultimately have to weigh the consequences of going. It’s a very hard decision. </p>
<p>If you go and love it, will you be okay with the debt? If you don’t go to Brown, and you have little debt, will you like it more than not having gone to Brown? UF is a very good school, but how much money-saving is it worth? You should talk it over with your parents.</p>
<p>I think it’s a short term, long term thing. Long term going to Brown seems better, but short term paying off the debt would stink. But I don’t think that debt would hinder you in the long run all that much if you are frugal when you first get out of college.</p>
<p>I’m an international applicant and Brown is my dream school. I must admit that the money issue worries me as well. But I think there are sources of funding - financial aid, scholarships - which you should look into!</p>
<p>For me I think I’d imagine looking back on my college years as an old woman. Will not going to Brown be something you will genuinely regret?</p>
<p>Wow, this post was revived by someone other than myself! I didn’t expect that coming. I value the input you have people have given me. The short-term, long-term thing is a good way to put it. I am most likely going to go at this point, but it could still change. Feel free to keep it going as a discussion.</p>
This really depends on the amount of the debt, even being frugal. I’d recommend doing a search of CC for threads where the money is a factor. $40k (a made-up number) doesn’t sound that bad in loans with a large income. But that large income may be taxed at a very high percentage federally and in-state. You then lose social security and medicare. That could add up to as much as half of your salary. Then you have to pay rent or mortgage, then utilities and food. You really need to think about how much of that salary will be left to pay loans. And what if you have trouble getting that high-paying job right away?</p>
<p>It’s alright to follow your dreams. Just make sure you fully understand what will happen in the future. In a way, that’s part of the Open Curriculum at Brown - you have to plan ahead, because your decisions freshman fall will affect what you can do senior spring (admittedly, not on a financial scale, directly). The more you think things through and get facts, the better your decision, whether it involves taking loans or not, will be.</p>
<p>@tigerton re: "I think it’s a short term, long term thing. Long term going to Brown seems better, but short term paying off the debt would stink. "</p>
<p>I think the short and long-term are the opposite. In the short term Brown is a great place to be for 4 years. In the long term what school you graduated from just doesn’t matter all that much, and you could be paying off student loans for 10+ years.</p>
<p>Are four years of a rich environment (and a lifetime of memories of those four years) worth a premium? Absolutely, but how much of a premium depends on what you value and on your resources.</p>
<p>I accepted going to Brown and possibly being 100k in debt afterwards. I’m an outlier here, and even HERE, few people would have made the same decision. It’s not for the faint of heart, and it’s not for someone without a VERY strong family support (i.e. if I’m out of work for a few years, my family will be capable of paying back some of my loans so I don’t end up bankrupt… but I’ll then have loans to my parents instead). One thing to note: government loans must be paid back in a 10-year period, and during that period you won’t be able to live like you’re making your actual salary: if you have to pay back 12k/year in loans, expect to live like someone with an income 16-20k or so less (depending on tax brackets). If you have a high standard of living (i.e. need to live in the heart of a big city, want a car and a house and to be able to eat out frequently), and don’t like to take chances, 100k in debt is not likely to be the best decision. I, on the other hand, enjoy living frugally (I do it naturally), and am willing to bet that my prospects/friendships/connections/freedom out of Brown will lead to a more enjoyable life than out of my state school. I may have bet wrong, but that’s life. Furthermore, I made damn sure the debt would not keep me out of a PhD program if that’s what I wish to pursue (and the loans I’m taking out would treat grad school like undergrad… not all do).</p>