Next semester I will being attending American University for international relation. This school has the best programs for what I wanted in the future but is expensive. The degree is competitive and with a diploma from AU can take me places. The problem with community college is that not a large number of classes transfer and many of the ones that do transfer don’t contribute to my degree.I’'m not getting a lot of financial aid and didn’t get a lot of scholarships. So does anyone believe that going to this school is a mistake if I taking on a little under 100 plus thousand dollars of debt is worth it? Is a degree from this particular (American university Washington DC) worth it.
A hundred thousand dollars of debt is an enormous amount!!!
There are lots of cities in the US where that amount of money would buy you a HOUSE-- with a 30 year mortgage!!!
http://m100group.com/2012/03/04/10-places-to-buy-a-retirement-home-for-under-100000/
Think long and hard, and then think a lot more, before borrowing money that you’ll be paying off for a good part of your adult life.
It’s an education, not a heart transplant.
Is 40,000 to 50,000$ for four years a normal amount for a loan? I think that’s around the national average? I am very fortunate to have the backing of my parents in the event things go horribly wrong! But I want to know how much in loans other upper middle class students in America take!? @bjkmom
Nothing is worth that much debt! I would not want my kid to be over 25k all in.
Hmmm okay thank you! The average debt of an AU student after 4 years is around 33k though! Anyway thanks for your perspective 
@HRSMom
I would stretch to 33 if need be:)
My perspective: I went to grad school 4 years/all loans. It took till I was 38 to pay off. And interfered with buying a house, retirement abs saving for my own kids’ tuition. I don’t want to see others suffer if there is another viable option!
So its a big no. I am still going for a semester in AU but will be transferring to another university after that. A relative actually recommended going to Canada for school. Get the same quality of education but with a lot lower price.
No, do not double transfer. And do not take on the debt to go to AU – not worth it. Take a gap semester and work or something instead.
Definitely NOT normal. For 4 years total, it’s desirable to not exceed the $28k max federal subsid. loan amount.
@intparent What do you mean double transfer? i haven’t even transferred once yet. And a gap semester doesn’t benefit me at all. I could work or travel or anything else, but working for semester at Walmart or something won’t make a dent in any debt and taking gaps in full semesters will just make me less prepared to study when I go back.
It looks like you are in CC now? Or was that just a generic comment about CC credits? Otherwise why are you starting mid-year? I am unclear on where you are in the admissions cycle.
Honestly, you can’t afford one semester. Why take on that debt or use up the college funds you have.
I think you should apply to some schools you can afford for next fall (which means getting on apps immediately). Run the net price calculators for schools before applying (on the college website). Seriously look at your in-state universities and/or colleges you can commute to. Or 4 year schools that have agreements with your local community college to accept their students and credits.
I’m actually confused as to how middle to upper middle class students afford AU when they get only partial merit scholarships:/ I have no idea what to do:/ (other than apply to other colleges) @intparent
It is a school that does not meet need. They (and their parents) take on a lot of debt, or dip into house equity or retirement savings. Or they choose a different school with more reasonable costs.
Having to borrow $25K/year or more is not reasonable debt for a bachelor’s degree. Students who are truly middle class or lower get need-based aid.
Upper middle class (and higher) students whose parents have income greater than $100K and other assets are expected to have saved for college. These students are reasonably expected to rely on substantial financial support from their parents to meet the gap between aid packages and total costs.
If that’s not an option, people are generally advised to attend state universities that are more reasonably priced than private institutions in one of the most expensive cities in the US!