<p>It's $220,000 over 4 years at BC</p>
<p>My dad is willing to pay $120,000 of it</p>
<p>That means I will be $100,000 in debt when I graduate</p>
<p>And that's not even including the interest that I will be paying</p>
<p>So is getting a finance degree at BC/CSOM worth me being $100k in debt by the time I graduate?</p>
<p>Where as if I graduate from Rutgers with zero debt cause my parents can pay it all?</p>
<p>How much debt is too much? Is 100k the norm?</p>
<p>$100k is too much. Not the norm at all.</p>
<p>Look at FinAid</a> | Calculators | Loan Calculator</p>
<p>and enter your debt and interest rate to find out your monthly payments and the salary needed to comfortably pay it. Do you want to spend 10-20 years paying the debt. What else do you picture yourself doing in those 10-20 years? Buying a house, a car, taking nice vacations, having a family? Will you be able to do that with $1000+ a month in loan payments?</p>
<p>Zero debt sounds wonderful. You can make your choices after you graduate based on what you want to do - not based on having to do something because that is the only way to pay your debt. Remember we are talking 10-20 years.</p>
<p>Is 40 K good as well?</p>
<p>Why not think about going into the military or something? If you really want to go so bad, I'm considering it.</p>
<p>Yes. $100K is slavery. Long term indentured servitude. You'll be making decisions based on making those payments for a long, long time. We just started a business a couple of years ago. It has taken a <em>long</em> time to pay. The <strong>only</strong> way we could manage it is that we had no debt besides our house. Don't limit yourself for a name no one but the alumni fundraising committee will care about in 10 years.</p>
<p>Way too much. No vacations, renting forever, old cars, might have trouble finding someone to marry that kind of debt, if you have kids you cannot start saving for <em>their</em> college until you have finished paying for yours--which could be 15-20 years for a debt like that.</p>
<p>Debt is a pain. It is very limiting, it makes your decisions for you, it means loss of freedom and independence. I do not recommend starting your post college life with huge debt.</p>
<p>What if I can get my dad to add in an extra 50k</p>
<p>that would leave me in 50k debt</p>
<p>Is that ok</p>
<p>What school is worth 200k? If you really want to go that bad ROTC or something.</p>
<p>Obviously no debt would be the best option but if you seriously have to go to debt for a great school, I don't see a huge problem.</p>
<p>However, I would cap it at 50k or at worst, 75k (probably for those where parents are paying little to none, ie less than 5k a year and all but have to take out loans to go to a top notch university). Anything more and it'll be a rough 10 years after undergrad.</p>
<p>In your case, your parents are already shelling out 120k AND you'll go 100k into debt which simply isn't worth it. Unless you were going to an ivy (and even that would be a tough choice), it simply isn't worth it.</p>
<p>That's the way I'm approaching my college loans at least.</p>
<p>ROTC is the way to go, at least look at it.</p>
<p>100k is way too much. Very few jobs will even get you half of that amount in anual salary in terms of having a 4 year degree.</p>
<p>YES. 100K is way too much. 50K is still way too much. 20-25K is much more reasonable.</p>
<p>when i made my college choice i thought about a school i loved AND a place i would not end up in debt. seriously when you graduate you will be able to say u went to BC but i am pretty sure you will have just as good as a time at the other school. trust me. 100k is NOT worth it...that would take waaay long to pay off and you wouldnt be able to fully enjoy your life, especially if you plan on having a family. what career are you looking into?</p>