Is undergrad school worth a 6 figure debt if I'm set on grad school?

Colleges and Universities A-Z Tufts University
1

<p>If anyone can relate to my situation, please, ADVICE NEEDED!!!</p>

<p>Ok, here?s my dilemma. </p>

<p>First, the good news. </p>

<p>I am well regarded as an overachiever with a strong work ethic and a passion to live life to the fullest. After four diligent years of study throughout high school and countless hours devoted to college applications, I have gained acceptance to UMASS Amherst Commonwealth College ($14,000 per year), UVM Honors College ($38,000 per year), Brandeis University ($35,000 per year), and Tufts University ($38,000 per year). I?m very thankful to have accomplished what I have thus far. I feel honored and I truly do believe that a college experience at any one of these schools will ultimately boil down to what I make of it.<br>
Going into my undergraduate education, I really have not a clue what I kind of career I want to devote the majority of my life to. I do know that I have a true passion to explore the fields of Philosophy, Religion, Body/Mind?and a knack for Personal Finance (started and managed a large-scale neighborhood landscaping business for five years). Now, I do not know where these interests will lead me. These same interests led my dad to 8 years of study at college and provided him with an outstanding foundation to become a chiropractor. Chiropractic certainly interests me as a career, but I do not know if that is to be my fate. I am ever anxious to find out, to broaden my horizons, to stretch my mind in ways I never thought possible, to learn as much as I possibly can until I can pinpoint an area of study that clicks for me. If I end up delving into Philosophy for four years and deciding that I was meant to be a philosopher, that is perfectly fine by me. I would like to live a comfortable lifestyle, but I am not driven by wealth. In fact, at this stage of my life, I would decline a life of luxury, fame, and ease if it were offered to me.
If I could choose a college, I would be headed to Tufts for 4 years hands down. Every aspect of the school is an absolutely perfect match for me: location, size, atmosphere, academics, social life?
(I pretty much gained acceptance to Tufts by writing three philosophical essays, 1 of which detailed my passion to work alongside modern day renowned Philosopher Daniel Dennet, who is well known for collaborating with students and teaching classes for incoming freshmen.)
I yearn to go to Tufts. Every aspect is ideal, every aspect except for COST!!!</p>

<p>The bad news.</p>

<p>Unfortunately, I fall under that middle class category of families who earn too much to qualify for substantial financial aid and too little to actually contribute to their kid?s college education. Basically, about 80% of all college expenses are on me.</p>

<p>Realistically, 3 out of the 4 areas of study that I listed above do not lead anywhere near a profitable career; certainly a rich mind, but not a well-paying job. I also know that my studies will not end after undergraduate school. My goal is to find my one true passion, see where that leads in terms of a career, and then head off to graduate school. Nearly everyone who I encounter tells me that graduate school is the time to spend the big bucks, for it is graduate school that will prepare you for a life-long career. No one is a stronger proponent of this reasoning than my dad. He attended University of New York at Albany for 4 yrs, Harvard Divinity School for 2, and finally New York Chiropractic College for 2. When he stepped out of Harvard, debtors were immediately crawling down his back, writing threatening letters to pay up. It took him 15 years to pay off his loans (about $60,000 in the late 70s). Bottom line, he would like to send me to Tufts more than anything, but he knows that I?m just like him in terms of my study interests and doesn?t want me to have to experience the financial burden that he did. If I went to Tufts, I would be $150,000 deep before I even set foot on a graduate school campus. Graduate school would most likely tag on another $100,000-150,000. That?s a quarter of a million dollars deep before I even have a steady job.<br>
On the other hand, I have spoken with numerous trusted family friends who attended the UMASS Amherst Honors College program, had a great experience, and had no problems gaining admission to the graduate school of their choice. UMASS would leave me $60,000 out.</p>

<p>IF YOU HAVE READ THIS FAR, PERHAPS YOU CAN OFFER ME ANY INSIGHT ON THIS FINAL QUESTION.</p>

<p>I know that my dad is looking out for my best interests, but I do not know if repaying college loans will be as burdensome for me as he makes it out to be. I hear stories in the news about students fresh out of college with incredibly high debt scrambling to find that high-paying job to get them out of it. I have also spoken with people who tell me not to fear being in debt until I?m 40. Stretching loan repayments over a long time frame will allow you to live comfortably as long as you can dish out that $200 some odd payment every month. I really do not know what the true scene is today for students who walk out of graduate school seemingly financially crippled.</p>

<p>PLEASE, HELP!!!</p>

2

<p>I think you should make a prudent, cost-effective decision. If you've exhausted all your financial options (i.e. scholarships, talk to financial aid, etc.) and still estimating 100k+ debt, then forget it. I have heard a boatload of horror stories about parents digging themselves into a canyon of debt before their children even leave college. Tufts is a great school, but I also think you can have a similarly good experience at any other school. </p>

<p>I chose Tufts because of the IR program coupled with the financial aid (low-income status). It was much more financially sound for me to attend Tufts than the UC schools suprisingly because of my low bracket status. And I agree that loan companies are the biggest a-holes in the world so try to minimize the loans as much as possible. I don't want to sway you away from Tufts cause it affords you many opportunities, but weigh your options wisely and act accordingly.</p>

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<p>It's always really sad to hear that finaid is what stops someone from going to their dream school. Tufts would be so lucky to have you; it's really unfortunate that they didn't offer you enough money for you to go here and not end up with mountains of loan debt, etc.</p>

<p>I think the decision is up to you and your parents. You could also consider doing two years elsewhere and transferring to Tufts for your jr/sr years and then you only pay $80,000 to go here. I don't know. I do know that you can make the most of your education anywhere you go; it's in your hands.</p>

<p>Good luck and let us know what you do.</p>

4

<p>$150,000 in debt?!?!?!?!? And you're middle class? Uh, this is a no brainer homie. Go to UMASS get good grades, get into a great grad school. It's that simple. </p>

<p>Yeah, 6 figures at an 8% interest; is it possible to pay that debt off in your lifetime even? Besides if you're a motivated, overachiever it won't matter where you are. There have been some Marshall Scholars from the UMASS system in the past few years so yeah, enough said.</p>

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<p>If you work hard and do well at UMASS, you should have no problems with getting into graduate school.</p>

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<p>Call the financial aid office and explain your situation. If that doesn't work, and you really think most of that money will be in loans, then I would go to UMass. Another option to perhaps consider is relatives? My parents may not have been able to send me to tufts, but my grandparents agreed to pay part of the cost since myself and my younger sister are their only two grandchildren. Hope that helps, and good luck.</p>

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<p>You wrote: (I pretty much gained acceptance to Tufts by writing three philosophical essays, 1 of which detailed my passion to work alongside modern day renowned Philosopher Daniel Dennet, who is well known for collaborating with students and teaching classes for incoming freshmen.)</p>

<p>Are you the kid who answered the bullying question by talking about how various philosophers would respond? If so, I can tell you that Tufts yearns for you as well. </p>

<p>I am so sorry that finances have to affect your decision. And I'm particularly concerned that UMass will also result in significant debt. Can this be right? I'd been under the impression that UMass was more generous in offering full scholarships to students like you.</p>

<p>You are getting good advice--debt from college and grad school is haunting a lot of people in their 30s and you should minimize if not avoid it. One caveat--for some fields, it's best not to attend a graduate program unless the school not only accepts you but provides money. Something you shouldn't be counting on at this point (but still something to think about in the coming years).</p>

<p>Best of luck. If you go elsewhere, Tufts will be sorry to miss having you.</p>

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<p>
[quote]
Are you the kid who answered the bullying question by talking about how various philosophers would respond? If so, I can tell you that Tufts yearns for you as well.

[/quote]
</p>

<p>If this was indeed you, you need to call the admissions office ASAP, identify yourself as such, and tell them your dilemma. If they want you so badly that they mentioned your essay in their PR materials regarding admissions for the class of 2011, then, well, you need to play that up. An e-mail to Dennett with the essay you wrote about working with him might help, too. Worst-case scenario, you're in the same place you're at now.</p>

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<p>Either that or you could do your degree at Tufts and join the military immediately afterwards, or do ROTC while you're at Tufts. I know the Army is pretty generous, the Marines definately aren't. Don't know about the Navy or AF, they might give less since, well, we don't need sailors, we need soldiers.</p>

10

<p>Sorry to dissapoint you all but I didn't write that bullying essay. Is it easily accessible because I would love to read it?</p>

<p>Thanks for all of your advice. Most people I speak with tell me the same thing...do well at UMASS and go to a really good grad school...and it really does make sense financially. It's just difficult to accept.</p>

<p>I have already visited all three schools in the past but I am attending Open Houses for UMASS Honors College, Brandeis, and Tufts and sleeping over both Brandeis and Tufts this week. Hopefully, it will give me a better sense of the benefits of the Honors College and the Amherst Five College Consortium. The sleepovers will be fun whether or not I end up attending.</p>

<p>lolabelle, you mentioned transferring to Tufts in a few years. Might you be able to tell me how realistic of an option that is admissions wise? I applied to 10 schools and got into 4, Tufts being my greatest hurrah. Transferring for a year or two may work out financially, but I would think the admissions process for transfer students would be even more competitive, no?</p>

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<p>Yeah, you seem like you want to jump into grad school immediately after you get done your B.A. so maybe ROTC Army/Navy wouldn't be the way to go. </p>

<p>Don't lose hope though man, I'm cooking up some schemes as I write this. I got plans for you. ;)</p>

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<p>Grad school can be free if you get a job and become a TA so I don't see why you have to give up your dream school.</p>

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<p>You can't see why a six figure debt would prevent someone from going to Tufts? Yeah, some of us have parents that don't buy us everything we want. Strange for you to hear of such a thing I'm sure.</p>

<p>Worst case scenario burnell is you come here for grad school since you seem to be interested in philosophy. There are alot of top grad schools that are free though. Notre Dame's grad Theology department is free and that is a really, REALLY great program. You might have to be Catholic though, I'm not sure.</p>

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<p>Where did you see that bullying essay, lolabelle and seashore? I'd be curious to see the statistics of the PR info you're referring to.</p>

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<p>I can't believe people are reading works of philosophy in high school. Man, these kids are hella smart nowdays.</p>

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<p>Here's the link to the story about the bullying essay:</p>

<p><a href="http://www.npr.org/templates/story/story.php?storyId=7384490%5B/url%5D"&gt;http://www.npr.org/templates/story/story.php?storyId=7384490&lt;/a&gt;&lt;/p>

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<p>I had to make a (sort of) similar decision last year between a free Tufts and paying full to several other schools. While I could have paid full for undergrad without any loans, I would have needed massive amounts of loans for med school. The 140k saved by going to Tufts will go a long way 4 years from now.</p>

<p>Go to UMASS. Chances are that no matter which college you choose, you'll like it so much that you won't care about what other schools you could have gone to. UMASS is an accredited and well respected college, and if you graduate on top of it, you'll be competitive for any top grad school.</p>

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<p>I wonder if the student who wrote that essay is aware that "Do unto others" was not something Kant thought up...</p>