<p>I've been accepted to Georgetown and a few safeties (so far U Mass Amherst and Bard), and I'm completely in love with Georgetown and want to go. However, though I may be freaking out about this too early since I don't have hard numbers, it's looking like I'll have to take out a little debt to go there, maybe $3-5K/year (though I'd try to do more work study to keep that number down). I feel like that would be a manageable amount of debt (like $10-20K overall) but at the same time, I like my safeties fine (though not as much as Georgetown) and they'll likely give me enough merit aid that I won't have to take out any loans.</p>
<p>I get that taking out massive loans to go to a school when you have other options is ridiculous, but what about taking out just a little bit? Is it worth it to go to a school that has more options (it's not just the prestige- Georgetown has a really great Arabic program and is one of the two on my list that offers dialects, which is really important since I want to volunteer abroad) and that might help me get a job? I just don't know if it's worth it, and I'd feel guilty making my parents pay more just because I like one school better.</p>
<p>Also, sorry to ramble but should you take out any debt if you're planning to go to grad school? I don't have definite plans for after college but I'm considering law school at this point, so how much should I factor that in since I don't know what I want to do yet?</p>
<p>I realize that much of this may have been a bit incoherent, but any advice people have would be greatly appreciated :)</p>
<p>Where are you getting the numbers? Do you mean your family doesn’t qualify for need based aid at all and will pay all but $3-5K/yr? That’s the only way I could see arriving there.</p>
<p>We do, but according to Georgetown’s net price calculator they’ll expect us to take out loans as part of our financial aid package, and although I’m going to try to get some outside scholarships we’ll still need to take out some loans to pay what it seems like they’ll expect us to (not counting loans they want us to pay ~12k over what my parents originally said they’d pay, but they’re willing to contribute a bit more and with scholarships that number should go down a bit, but some loans will probably be necessary). Nothing’s for sure yet but I’m trying to think about the decision with the information I have so far.</p>
<p>Don’t know if this helps at all, but my dad has always said the only thing worth going into debt for is a good education. If Georgetown is where you really want to be and you have a way to keep the debt relatively manageable ($10-20k overall? Really? If possible that’s awesome) then why not go for it? No, debt isn’t something you want, but it’s not the end of the world. But either way it sounds like you have plenty of really good options.</p>
You need to work out the details with your parents. It seems like your parents will have to pay $12K more than they expected to, and you’ll need to take out loans on top of that. The vast majority of outside scholarships you find will only apply to your freshman year. What will you do for the other three years??</p>
<p>@Erin’s Dad: I’m planning on working as hard as I can and applying for outside scholarships every year. I’m going to do the calculations to make sure it’s all feasible to get out with under $20K of debt, so I’m wondering is something around that number worth it, especially considering I might go to grad school? (I’m willing to take a year or two off in between college and grad school to work out financial issues - I want to volunteer abroad and I know the peace corps gives you money for paying off student debts, so I’m hoping I can work out something like that)</p>
<p>under 20K worth of debt is worth an education at Georgetown, imho. much more than 20K? that should prompt some hard thinking on your part. Hopefully you can get summer jobs while in college to help reduce that debt amount. DS was lucky, but he was able to land paid internships at his college that paid him $5K per summer.</p>
<p>Again, this makes no sense. Any aid package GTown gives you will include loans. You’ll get clise to $30K in loans over 4 years before loans to help your EFC even enter in.</p>
<p>There are so few scholarships that pay out a significant number over 4 years, it’s not even worth addressing,</p>
<p>@menloparkmom: Thanks for your advice! Do you think that still applies considering grad school costs?</p>
<p>@Waverly: Ok I actually do know what I’m talking about when it comes to how much we’re paying, I’ve worked a lot of it out with my parents and I just don’t want to put all the details online. Assuming I take out $20K or less in loans, is that worth it?</p>
<p>^I’m considering law school right now but I might just get a masters…the annoying thing is I really don’t know but I have to try to factor it in when I’m not at all sure of what I want to do :(</p>
<p>then do what ever you can to graduate with the lowest debt you possibly can [ and think more than twice about law school]- so much legal grunt work and research now can, and is, being outsourced to smart grads in other countries, instead of by new associates in US firms. I dont see that changing . Do not assume that a law degree is the ticket it once was to a high salary. There is a glut of unemployed law school grads, and more graduating behind them every year. For Law schools, business is great! For their recent graduates, especially those coming from less than “elite” law schools, many have wasted hundreds of thousands of dollars on a dream.</p>
<p>Yeah that’s part of why I’m not sure about law school right now- I don’t know if it’s worth the money (just worried about paying off debt, in general I don’t care about making a high salary). But I want to get involved in international politics so wouldn’t a law degree be basically necessary for that?</p>
<p>My D applied and was accepted to over 10 schools including Georgetown, and her financial aid package was by far the worst from Georgetown. Also, as our income fluctuates a bit, we were looking at potentially even worse numbers in the years to come. The financial aid office was very helpful in estimating for us what years 2, 3 and 4 might look like given a potential change in our income. Georgetown was her favorite also, but she decided to go elsewhere where she wouldn’t be saddled with any debt.</p>