<p>I have a serious dilema at hand. I've been accepted at Northwestern University, but I've received no financial aid at all. My prospective major is economics and NU is highly ranked in econ. I think I'll benefit from the environment at NU, but is it worth a debt of 80-100K after graduation? In addition, I'm an international student and I know that as an international student, job opportunities in the US are rather scarce or at least more competitive as I must be eligible for a work visa which companies must be willing to sponser. </p>
<p>I've read the 'should you incur the debt' and 'private school vs state school' thread, but still cannot decide. Some say that it's dependent on one's major. It's more advantageous to go to the private university and tackle the debt if one is planning to major in business or affiliated because it's where top companies recruit. On the other hand, I wonder if I want a burden of 80k at the age of 21.</p>
<p>My other option is a very mediocre university here in Canada. Its admission standards are not high and from what I know, students are not very motivated or passionate about learning. If I attend this school, I won't be majoring in business as it does not have a strong business school. However, I will graduate with an approx. 100k surplus if I choose to attend this school as opposed to NU.</p>
<p>I think that the 4 years of undergraduate school is, without a doubt, 4 defining years in one's life. But is the 'undergraduate experience' worth going 80-100k in debt? Advice would be greatly appreciate</p>
<p>I'm a parent and I would advise against taking on that sort of debt load. I also doubt you, personally, will be allowed to take on that sort of debt. </p>
<p>Are there no other options? Can you study locally and try to transfer in a year's time? Can you take a gap year and earn/save some money? Try to think of some other options that allow you to realize your college dream without incurring such burdensome debt.</p>
<p>I hope this all works out for you - good luck.</p>
<p>My uncle worked as a recruiting executive for Goldman Sachs and upon learning I would be attending NU called me to congratulate me, putting a heavy emphasis on how intensely they used to recruit NU graduates. If you were hired by a company like Goldman, $80k debt could easily be payed off in a year. So I'd say it depends on how competent you feel you are- Do you think you're a strong enough student to get a job like that?</p>
<p>i highly doubt that. what, they pay fresh recruits over 100k a year? is this true? b/c i think you need atleast 100k+ income to pay that huge debt off. one would also have to live frugally as hell. in one year? wow,never heard that one b4.</p>
<p>also think if you want to go to grad school shortly after leaving college. and if econ majors make that much money, I might have to rethink the pre-med route.</p>
<p>150k? That can't be the starting salary, can it? Either way, I can't rely on getting recruited by Goldman Sachs to pay off aloan of 80-100k. What other sorts of benefits come with the NU degree that might make the debt worthwhile?</p>
<p>i have no idea where arbiter is getting his info. might be a special situation or something. dont count on it though. this is from northwestern career services website: from 2005</p>
<p>Many internationals do pay a lot of money for the privates in the US even they can go to some of the best ones in their home country for almost free. So this is nothing new. But the difference is their family do have the money or don't mind paying them (so no debt).</p>
<p>So with that said and seeing money IS an issue for you, I think you should go to this mediocre school, get high GPA there, and transfer to UT or whatever. I don't believe any top Canadian school is that hard to transfer into (2 of my sisters went to UT and my younger brother went to U of Alberta). I am actually very surprised you didn't get into any top Canadian schools. I always thought they are all easier to get in than NU.</p>
<p>i think arbiter was referring to that his uncle used to work at the recruiting position, so he used to recruit. atleast i hope thats what he was saying.</p>
<p>this is a big issue for me too... a $70,000 difference between here and the tuition at ucla (which is what my parents can afford). the rest= up to me</p>
<p>Another option is to take a gap year and reapply to some US schools that are good and offer scholarships if you really want to avoid going to that mediocre school.</p>
<p>To clarify: Yes, used to work, as far as I know they still recruit heavily. And I didn't say the AVERAGE salary would be anywhere near that, I said places like Goldman, which will only hire the very best.</p>
<p>It sounds like you want to go to Northwestern and want to hear that it is worth it but the question of your debt is very realistic. If you are planning on going to graduate school, your debt could even be greater. As much as you may want to go to NU, it might be worth excelling at the university you were accepted at and then use the money for grad school. I also agree with Sam Lee. Transfer next year to a very good school that will offer you financial aid and merit scholarship and still save your money for graduate school. Probably many students who got into NU were offered merit scholarship at schools that have less prestigious reputations but are still academically excellent. </p>
<p>Have you contacted NU to discuss this issue with someone there? The deadline is fast approaching.</p>