I am having a very hard time deciding between my local state school, Mississippi State, which will cost me almost 10k per year or Rose-Hulman which will cost me around 50k per year. I am just not sure if Rose-Hulman is worth the extra 160k in debt. I would appreciate it if anyone could offer me any insight or opinions.
- It is not going to cost you anything, unless you are independently wealthy, you have no money. This is going to cost your parents.
2.How are you going to get the $160k? You will only be able to borrow $5500 with out a co-signer.
- How much are your parents willing to pay for you to attend Rose-Hulman?
If they are not willing or able to pay the 160k, then it is time to move on. There is no hard time deciding, because this is a no-brainer decision; have a great time at Mississippi State
Not worth it. Job recruiters prefer to do their scouting at big State U.
http://www.wsj.com/articles/SB10001424052748703597204575483730506372718
A 160k loan, @ 5% intetest and a 10 year term means monthly payments of $1700. Think of all the things you would rather do with $1700 every month for TEN LONG YEARS. That’s over 20 grand a year for TEN LONG YEARS.
$1700 is like the cost of a vacation, or a mortgage payment-- yikes!
The fact that you ask the question indicates that you know the answer- you just don’t like it.
This could be a which college discussion only if it is not all debt. If you have no family resources you should be getting some aid. If you have family resources but none were allocated to plan for pricey private college the you just can’t afford it.
Rose Hulman (and other schools) are not even worth $100k in debt.
Are your parents naive enough to cosign that much debt (I hope they’re smarter than that).
this question is so scary. You must know that employers are going to pay you the SAME no matter which school you graduate from…right??? You do know that, right???
Since the two schools are RH and MSU, I’m guessing that you’re some type of STEM major…probably eng’g or CS. Is that correct?
anyway…MSU has very strong eng’g/CS…companies recruit there. You’d be kicking yourself later trying to pay off all that crazy debt knowing that your work colleagues from MSU and elsewhere are being paid the same as you are…but without that crazy insane debt.
Be glad that UCLA rejected you…you’d be facing the same crazy debt.
With your stats…why didn’t you apply to more schools for large merit??? And did RH give you no merit??
Read my answer in your other thread.
And be glad that UCLA rejected you. You would be facing the same crazy debt.
With your stats, why didn’t you apply to more schools that would have given you large merit???
Not worth the debt. MSU is ABET accredited which is what employers want. http://main.abet.org/aps/AccreditedProgramsDetails.aspx?OrganizationID=49&ProgramIDs= MSU is also a good research university: http://mup.asu.edu/Top-American-Research-Universities-2013-Annual-Report-MUP.pdf
I live in the SE where there are many high tech employers. They hire MSU grads. MSU has a row of eng’g buildings - each dedicated to a different discipline. It is the high-tech school of that state.
You have an ACT 32, which suggests to me that MSU gave you at least free tuition, if not more. Go there.
Thanks for all of the responses. @mom2collegekids For some reason I put off my college search until last minute, so I missed a lot of scholarship deadlines and application deadlines. For example, I was trying to take advantage of all the aid at Alabama, but I had already missed the deadline. I plan on doubling majoring in physics and CS for undergrad, and I am interested in a career in quantitative finance. So, I am just worried that going to a state school is going to hurt my chances of getting into a top physics or math grad school or if I will even be able to have such a career coming from a low-tier state school. Also I’ve recently started hearing rumors that the physics profs. at state are not very good and that quite a few people try to take their physics classes at a JC over the summer because of how bad it is.
As an alum who very much enjoyed his time at Rose, I can say that it is not worth $160k of debt. No school is worth that much dept.
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So, I am just worried that going to a state school is going to hurt my chances of getting into a top physics or math grad school or if I will even be able to have such a career coming from a low-tier state school
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Not only is that not true, but it’s also extremely bad to think that after borrowing $200k, you’d go off to grad school. Good heavens, as if that debt wouldn’t be bad enough! It would be larger after adding more years of grad school. It’s not like you’d suddenly be earning a high salary once you have a grad degree.
What are your parents saying? Hopefully, they’re intelligent enough to know not to cosign such crazy loans.
. Also I’ve recently started hearing rumors that the physics profs. at state are not very good and that quite a few people try to take their physics classes at a JC over the summer because of how bad it is.
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For some reason I put off my college search until last minute,
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for some reason? You don’t know the reason?
Anyway, you could take a gap year and reapply to schools.
How much are your parents paying?
You could also apply to UAH…they’re still awarding merit. they are strong in STEM as well.
I hadn’t thought about going to college or college in general until after the first quarter of this year, and my parents are only paying 20% of the total cost of whichever college I decide.
@mom2collegekids
Apply to UAH before June 1. Then take a look at UAH, and decide MS State or UAH. Both will do well for you and with low out of pocket. No way should you go into that serious debt for Rose Hulman. I personally know a very bright guy that got his UG degree at MS State (CS), got graduate scholarship/stipend at Rose Hulman for graduate degree. He is now in San Francisco making serious bank. I know a lot of smart kids at both UAH and MS State in STEM that are doing well.
If you absolutely cannot see either of those two schools, then take the gap year but be sure to follow the rules (no classes at any CC or college).
Just curious…how is it that you are making this matriculation decision now? Did you get off the wait list at Rose?
If not, shouldn’t this have been decided prior to May 1?
Well, RH is too much debt. Apply to UAH.
What are your parents saying about co-signing for $200k of debt???
My parents don’t know that I am still considering RHIT. The 20% was an agreement we had when I talked to them about going to college. I am trying to give this a lot of consideration and look at it from as many points of view as I can before even bringing anything up to them.
@mom2collegekids
Did you send a deposit to Mississippi?
Rose is a fine school but that debt is way too much.
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I am trying to give this a lot of consideration and look at it from as many points of view as I can before even bringing anything up to them.
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Well, you’re probably wasting your time, since 99.99% of parents will not cosign a $200k loan…because that HURTS their credit, and they’re at risk…
That said, if you’re looking for “many points of view,” then I can almost promise you that NO ONE here on CC (except maybe a naive teen) is going to support the idea of borrowing $200k
Did you send a deposit to Rose accepting their admission offer by May 1? If not, this school might not be in consideration at all, unless you contacted them and asked for an extension OR have been admitted off the wait list.