<p>$25,000 in loans? I really want to attend, just trying to see if it's worth the loans (not a huge amount, but still...) My other option is the honors college at UMD.</p>
<p>$25k total for four years? That’s around the national average. Having said that, it is very hard for someone else to tell you what money is worth as it depends on your other options (no loans somewhere else), your ability to repay the loans (what will your other obligations be at graduation), what you are studying, family support, do you plan to go on to grad school, etc. There is no single right answer.</p>
<p>^^great response. It’s a depends on all the factors mentioned. I am assuming also that you mean $25,000 at the end of all four years (not 100K!). My son is giving up a full tuition ride to another school and going to UVa. He won’t need loans (using his college savings and income), but giving an example of what it’s worth to him to go to UVa (giving up a $153,000 to a top LAC). There will be people that believe it’s not worth it and those that think it is, we’ve had mixed comments. Good luck with your decision and do what’s right for you and your family.</p>
<p>Most students are eligible for $23,000 of Federally subsidized student loans over 4 years of undergrad. I think that is a very reasonable target. Some people are also eligible for some Perkins, which are also subsidized. </p>
<p>$23,000 is a fair debt to have for a high quality college degree. However, if you need to take out PLUS loans or unsubsidizied Staffords or private loans, the cost of borrowing rapidly increases. The total payments for those other loans per $1,000 of debt is going to be much higher.</p>
<p>UVA is actually worth a lot more.</p>
<p>Would you have a similar amount of loans at the honors college at UMD? If the choice is zero debt at UMD versus $25,000 at UVA then that’s not an easy question. Your future financial success will depend more upon you as an individual than which of those two universities you attend. What could you obtain with the extra $25,000? For example, the loan difference could mean having a semester abroad while at UMD but not being able to afford a similar experience while at UVA. Or, you would be able to afford a nicer apartment for the first 4-5 years after graduation from UMD versus UVA.</p>
<p>~ aprx $17.36 a day</p>
<p>~ finance surely play a major role in these situation,
since no one knows if : you’ve any parental support, personal saving, future career plans etc etc</p>
<p>~ but if you break $25,000 down to 4 years,
it is aprx $17.36 per day
that is similar to 2 mid-price sandwish lunches/ 2 movie tickets or so / one haircut or so</p>
<p>~ so, if your future career goal / plan / job allow you to make small payment to offset these debt…then it may be do-able,
if not, then don’t take up the debt.</p>