<p>UMICH is going to cost 50,000 a year (i'm an international from canada), over three years (i've already done one year at UMICH) and wayne state is going to cost 20000 a year for three years. around 95000 difference. should i switch to wayne state and save the 90000 or is umich worth the extra cost? my major is computer science.</p>
<p>in the end, i will have to pay back my parents $300,000. I calculated that I will pay back my parents in 8 years, with a 90k salary after grad school.</p>
<p>advice? I don't wan't to dig myself into a hole :(</p>
<p>Why not a Canadian University? They are considerably less expensive than US universities. I know you already know this, I’m just curious as to why you are going to school in the US when Canada has some options at a much lower cost.</p>
<p>Isn’t the University of Waterloo a top computer science university?</p>
<p>I’m a huge UMich proponent. But, I would not recommend to anyone that has to pay full freight and borrow all of it to go there. On top of that you infer that you will also plan to incur grad school costs. I would look for a lower cost alternative and go for the bigger name school for your grad work.</p>
<p>I’m not going to a Canadian university because they will cost at least 18,000 a year. Wayne is 22,000, and I can afford the 12 grand over 3 years because I will be commuting from home. </p>
<p>My main concern is the time it will take to pay back my parents. If it’s under 8-9 years, I can handle it. If not, i’m going to transfer.</p>
<p>I don’t know if I’d be thrilled about paying that full cost at Michigan, but paying as much as you would be at Wayne would be a much, much different education. I’d really look at Canadian schools over Wayne.</p>
<p>What are you going to eat during the 8 year payoff period – beans and rice?. Assuming you can get $90,000 for your first job with an estimated federal tax rate of 30%, state (~5%), maybe a local tax (~2% for Maryland), plus SS and Medicare you will in all likelihood lose 40% off the top to net you $54,000. With a payoff of $300,000 in 8 years … $37,500 per year This will leave $16,500 to live on. Granted your salary should increase during the payoff period. It might be tough</p>
<p>the next best university is york university, which is ranked 96 in the world, as opposed to wayne (230 in the world). I don’t know if it’s worth it, and wayne, being an american college, potentially has advantages because I’m going to apply to an american grad school.</p>
<p>do you guys think it will make a difference to employers if i attend grad school? that’s my goal, and if my undergrad diploma is not going to matter, i’m switching.</p>
<p>that would be the logical thing to do. but then again, i want to be valuable to employers and get into a top 30 grad school.</p>
<p>Companies like Google, Yahoo, Facebook, Intel, Apple, etc. come to the College of Engineering Career Fair and hire Michigan students for Internship, Co-op, and Full time positions. These companies pay interns A LOT of money.</p>
<p>yes, i know that, but my goal is to do grad school. and as for u of t, i don’t want to go there. i lived in toronto for most of my life. s severe grade deflation, and i don’t really like the campus.</p>
<p>i’m actually going to be commuting. and also, i’m already applying too late for a transfer. wayne, along with a handful of canadian universities (which are way worse than wayne) are going to be looking at applications.</p>
<p>I’m worried whether or not I would be able to pay back my parents within 6-7 years, because I don’t want to live like a slave lol</p>
<p>if i do attend michigan, i will have another 100k to pay back my parents, and I’ll be looking at 300k total. if i transfer to wayne, and go to grad school from there, I will be paying 200k to my parents.</p>
<p>you already attended Michigan for a year, and only now are you working out your finances? Dude, you shouldn’t attend in the first place. Toronto is a great school and has a lower cost too. My god… you need to do some serious thinking.</p>
<p>So are you saying I should transfer and save the 100k? i was planning on doing pre-med at michigan, but switched to cs. toronto is not known for premed, and they have insane grade deflation - relative to michigan</p>
<p>If you are planning on going to grad school I’d look for a lower cost alternative (and I love Michigan). Wayne does not offer much of a college experience unless you like the gritty urban feel. I think Waterloo would be a great alternative to Michigan (cost) or to Wayne (experience/academics). I don’t think $300k in debt is worth it unless your parents are likely to forgive the debt or they have plenty of money (they don’t need $300k) and that you could deduct it from any future inheritance.</p>
<p>I sense there is something else going on here, like your parents would pay for Med School but not CS? Hence the scramble?</p>
<p>no it’s not that. they said they would pay anything for my education, provided i return 100% of what they spent on me (interest free). I have a choice to go to york university (17k a year) and then do grad here. which would save me 100k, and put me 170k in debt to my parents. </p>
<p>i’m worried that after grad school, my employers will look unfavorably on my canadian undergrad degree even though I got my masters from a us university.</p>