<p>I'm looking for the advice of people who have been in similar situations before. I have received no financial aid from any college. I've already sat with my parents and I know what they can and cannot provide. We've called FA offices to no avail. I'm hoping some people can share their insight on differences in earnings potential and whether paying my education through loans is a sustainable option for certain universities.</p>
<p>I've put best case and worst case amount for loans for each college, along with merit scholarships, if received. I'd hope not to go immediately to grad school, so I'm looking for an undergrad degree that can support me well on its own. I'm planning to major in either business or economics.</p>
<p>My options are:</p>
<p>University of Pennsylvania- Wharton School: 25k-40k in loans
Princeton University: 20k-35k in loans
Emory University: 100k scholarship, no loans
University of Chicago: 27-42k in loans
New York University: 26-41k in loans
University of Texas- McCombs Business Honors: 40k scholarship and around 30k left for grad school (if necessary)</p>
<p>Without any loans, you will be able to do more internships, even unpaid ones if necessary, that will land you with more job options in the end.</p>
<p>or </p>
<p>Emory if the scholarship comes through and you don’t have to take out any loans</p>
<p>The difference between no loans and 20k in loans is the price of a decent used car that will get you to and from that first job. The difference between no loans and 42k in loans is the price of a decent used car, and the rent on a more-than decent apartment for the first year and a half at that first job.</p>
<p>As great as the other schools are. Emory or Texas is the choice here. They are both great places in their own right. I would visit both and then decide if you want the Big 12 Big U experience or the more sedate super strong academic experience. Also, do you want Atlanta or Austin? If you can you gotta visit.</p>
<p>Are these loans per year or over 4 years? I think 25-40k is a reasonable amount of loans for an elite 4-year education at UPenn Wharton or Princeton. If that’s for ONE year, though, go for Emory or Texas.</p>
<p>Thanks for your thoughts! I’m being very indecisive about what I’m going to do, so I’m trying to see things in every possible way.</p>
<p>All the amounts listed are for all four years, so the loan amounts would be the total for all four years. For the loans, I’d probably end up pulling out an amount somewhere in the middle of the range.</p>
<p>I would not hesitate to borrow $40K for a Wharton or Princeton degree. That should be well under your first year’s salary in business coming from either and would be easily paid back in many jobs. Heck, if the economy is anywhere near normal in 4 years, your signing bonus should retire at least half.</p>
<p>In fact if business is your interest and you’re ambitious, I think you’d be crazy not to go to one of the two. In business school matters. 30 years later I can tell you my Wharton degree with big loans was my best ever investment.</p>
<p>UT McCombs Honors is pretty good, but Wharton or Princeton might just be worth the extra money in this case. The $40K over four years isn’t too bad, and with a degree from either place under your belt, you should be able to easily pay it back.
If you do decide, however, that it isn’t worth the extra money to you, Texas is a great choice as well.</p>