<p>Answer to question: NO
Reason: Common Sense</p>
<p>Is happiness worth 80K in debt? Unfortunately, I can’t answer that for you, but I can tell you you have other options.</p>
<p>Some schools will let you out of the ED contract if there seems to be a financial burden involved with attending the school. That way, if at some point you realize the debt isn’t worth it and you want to get out, they’ll let you out. Also, some schools allow you to dicuss your aid package with the financial aid office and they might try to adjust it for you. I advise you to contact the financial aid office and discuss your situation. But before you apply ED, make sure they’ll let you out of the agreement if you can’t pay, and what it takes for them to decide that “you can’t pay”.</p>
<p>Also, have you considered getting a job during the summer or the school year to decrease your debt?</p>
<p>“But honestly, i say that going to the school of your dreams will put you in a position that will subsequently help you not only payy off the debt in due time…”</p>
<p>That’s silly. Just because a school is one’s dream school doesn’t mean one will have better opportunities or a better future than would occur by going to another school. And many people’s dream schools aren’t that highly ranked. Practically any school – even a community college-- is someone’s dream school.</p>
<p>This thread shows how one’s dream college may not live up to your dreams. Remember there’s a difference between a dream and reality.</p>
<p><a href=“http://talk.collegeconfidential.com/college-life/1000156-i-hate-college.html[/url]”>http://talk.collegeconfidential.com/college-life/1000156-i-hate-college.html</a></p>
<p>From what I heard going to a good law school will give you better pay.
Going to a good medical school gives you good pay.</p>
<p>But undergrad? Sure some colleges may give you better job placement for certain fields but you are on even footing in terms of promotion/pay</p>
<p>OP…didn’t read the whole thread…</p>
<p>WHY is this your dream school?</p>
<p>What (measureable) added value do you believe a degree from there offers over a good state school?</p>
<p>oh, and BTW I wouldn’t count on things “changing” in the future only for the BETTER. Things could “change” a lot for the worse, too. (Obama forgot that part)</p>
<p>Absolutely not. My dh went to U of Chicago and apparently, no one told him to file for scholarships or other financial aid. He did not need tons of help as his parents paid some, but between the two of us, we graduated with under $50K in loans. Because the payments were so high, we could not even afford the interest. We paid what we could. To pay that, you really need to be making good money straight out of college, I mean, very good. We took the standard waiting period to start paying back, but now, due to interest, and paying at a rate of over $500 a month, our balance keeps going up and we are at over $100K. This is 16 years after graduation. It may seem when you take out the loans like you can pay them back, but fact is, at $80K, your payments will be over $800 a month. Plus you will need all sorts of money to start your new adult life. This is everything from a car to get to work, clothes, every day living expenses, and surely you want a life, not sit around the house.</p>
<p>Find a new dream school. There are so many out there, you can probably find one that you like just as much, or close to, that will give better financial aid, or at least costs less. College is only 4-5 years depending on the major. No reason to put yourself in a lifelong debt over 4-5 yrs in college. </p>
<p>BTW, we make closer to $160K a year and find $100K in student loans impossible to pay off. Add in mortgage, gas, insurance, food, clothes, phone, internet, utilities, computer, LIFE…ever want to get married or have children? Seriously, for 80K in loans, forget it.</p>
<p>Most definitely.</p>
<p>oh, nvm, the OP seems to have “checked out” of this convo after receiving the answer she/he wanted from redbluesomethinggold…then the rest of us parents continued to duke it out… glad my kid is already enrolled. Sigh.</p>
<p>“Obamas policies are catastrophic and will lead to the inevitable result of all debt, hyperinflation”</p>
<p>“Personal debt is a terrible idea, and you should look at current wage levels in determining your ability to pay it off”</p>
<p>I sometimes see both these (or things like these, or that imply these) from the very same people. Does anyone else see a contradiction?</p>
<p>I’ve seen the OP on another thread state that due to responses here, the OP doesn’t think it’s a good idea to apply ED to a school when finances are a consideration. Seems the OP has taken some of the good advice here to heart.</p>
<p>nicksmtmom, I sure hope the OP didn’t take the red…gold person’s advice seriously! That’s sort of like the blind leading the blind.</p>
<p>Hey nicksmtmom, I am not checked out of this thread. I am just trying to keep up with high school, its hard to respond to everyone. Northstarmom is right, I have taken some of the advice you all supplied to heart. I will be applying EA to a few schools, but no ED. Its not worth it, no matter how much I love the college. I will still apply RD- but if I applied ED, even if I were accepted, I wouldn’t be happy- I’d be worrying about how to pay off that debt.
Thank you everyone!</p>
<p>hey there, skydancer. re-read my post, hope i didn’t sound snarky, i didn’t mean to…i know this is a really hard time, and when you haven’t had a lot of experience, it can be so confusing. i guess my real question still is, WHY is it your dream school? </p>
<p>I ask for two reasons: one is because of the above posts, but the other is because my son also gave up his “dream school” becuz he didn’t want to end up with (about the same amount of) debt…he is in Musical Theatre, and the salary return probably won’t support the debt. I think he still experiences pangs, because the kids from that school are experiencing a lot of “Broadway” success right now and it is popular. He still has some “pangs” about not reaching for it no matter what, even tho he is incredibly happy where he is. I think it is still his “dream school”…he would tell you that graduating from “that name” means so much to people at audition time, but experienced people in the industry say “no it doesn’t…what matters is the talent no matter where you attended.”</p>
<p>It really matters who you listen to…and as an 18-year-old it is even more confusing than it is to us parents. So what makes it your dream, and can you measure the difference in terms of your future career. I think your answer would help lots of us.</p>
<p>Haha yeah, its so confusing… trying to stay alfloat in senior year and consider your future five years from now is very overwhelming!</p>
<p>W&M is my dream school for a few reasons- none of them are very good ones. I’m currently at a magnet school for the arts, I don’t like it too much. W&M seems to have that balance of talent and intelligance that I want. The students are brilliant, and so involved- the type of people I want to spend my college years around. The campus is gorgeous. I just felt really happy and comfortable both times I visited. I could really see myself walking across the Sunken Gardens. I felt like I fit in- something thats been lacking in my K-12 years.
But because I do not have many clear plans once I graduate- I don’t plan on becoming a doctor or an engineer- I think a lot of people here have a point. How could I ever pay off that debt? Especially with such an unpredictable job market. I have $80K for college and grad school- even if I have to attend a lower tier college, I should probably try to make it last.</p>
<p>“To get to heaven you got to go to hell and back”</p>
<p>Thats my simple words of insight, it may seem like alot to pay off but if its your dream go for it.</p>
<p>those were a lot of my son’s reasons…comfort level, beautiful campus, for him an adventure of another state. and some of that is not to be ignored. i hope a miracle happens and you can afford your dream.</p>
<p>but sometimes the “go for it” people remind me of people who are warned in advance about an impending hurricane and decide to “tough it out”…trust that they’ll ve fine and throw a hurrican party! sometimes that works out fine, and sometimes it is just a disaster. a prudent person probably wouldn’t risk it to start with. The risk-takers may come out just fine, but boy what a risk!</p>
<p>Anyway, love that you are on here asking questions…proves that you have a good head on your shoulders and you will be just fine whatever you decide. God bless.</p>
<p>There are a lot of colleges with beautiful campuses, strong arts and friendly, smart students. </p>
<p>And some such colleges will be more affordable. You could ask for suggestions on the Search and Selection board.</p>
<p>Hey Skydancer, feeling comfortable when visiting doesn’t always translate to an ideal experience for the student. A well-orchestrated campus visit is certainly enticing, but that isn’t the be-all and end-all. My daughter is attending the campus she felt the most comfortable on and the schooltime atmosphere isn’t everything that she had hoped for. (Thankfully, after a month she is feeling more comfortable and learning to cope with the negatives.)</p>