Hello,
I am currently a computer science undergrad freshman student attending an in-state school (University of Arkansas). It is definitely not a bad school but it’s not nearly top, and I am really torn about whether I should transfer. This year I am paying about $10k but since that is only because I applied late and used only a general scholarship I will probably pay even less next year.
The issue is that schools that seem to be ranked only slightly higher in terms of things like average earnings are incredibly expensive. I will have maybe $38k debt at the end of my B.S. (probably less, really, maybe none if I take on a job) but even going to schools at which I wouldn’t have to pay a higher out of state tuition the total predicted cost seems insane. My family makes considerably above average so I doubt I would get much for need anywhere.
I guess I am just feeling like I’m not seeing all of the picture. WHY would someone go to, say, BU, and go over 200k in debt? Is literally everyone unfathomably rich except for those who get an incredible amount of aid (which doesn’t seem to show in these meager fin aid averages)?
I feel like I am trying to make a decision where I might really regret either option. A lot of people say that millennials are making a big mistake in going to these newly expensive schools, but a lot of people also go on about how their experience was worth it in some way. Right now I am leaning towards thinking that the latter are just trying to justify their choice in some way but I know that is very biased. I am also considering things like PSU online but that also is extremely controversial.
I feel like I can’t just “go wherever looks best” because I can tell I don’t have the knowledge to properly judge that in a way that wouldn’t be idiotic to myself in a few decades.
I know this is general probably has been asked many different times with slightly different details, but I am freaking out and I really need to start thinking about this at this time of year :(.
Could I have some advice?
“The issue is that schools that seem to be ranked only slightly higher in terms of things like average earnings are incredibly expensive.”
Yup. Well said.
“WHY would someone go to, say, BU, and go over 200k in debt?”
I have wondered exactly the same thing. Some students there probably do have very rich parents who can afford to be full pay without taking on debt. Some are piling up debt at a level that doesn’t make any sense and will be a big problem in the future. This of course applies to many schools (we don’t need to pick on BU or any one other school).
“Could I have some advice”
Where you are makes sense. A degree in computer science is going to be marketable. 38K in debt is as much as you should take on but you should be able to handle it with a computer science degree. Keep ahead of your work and good luck!
I agree with @DadTwoGirls. As a CS major, you’ll be able to pay off your debt without much trouble. Besides, you yourself stated that next semester you’ll pay even less, which is great!
In my experience, people who say that taking on sizable debt is worth attending ___ University either aren’t paying off that debt, or have no grasp of personal finance.
At the end of the day, it comes down to each individual’s situation. Your situation makes sense, but in the eyes of an extremely wealthy student, taking on 200k to get a degree for BU or another highly ranked institution makes sense.
Go re-read the story of the Emperor’s New Clothes. Picture yourself as the child in the story 
Hey, this is my story
So I’m an international freshman at NYIT, a semi-decent school, I guess. And after really thinking about it, I realized I could definitely go to a better school, and why not, even an Ivy league.
Stats
Major:
Electrical and Computer Engineering
SAT
1250 (will retake it, took at the beginning of junior year, and still then I could have done better)
HS GPA: 3.8
Toefl= 96(Took it in junior year, my English is 1000x better now, so I expect to get a 120 when I retake it)
College GPA: don´t know yet, it seems it will be about 3.7, maybe a little higher
ECs= IEE member,Ran my own business, have 20k followers on a facebook page, IEEExtreme: placed first in the North East US region, music band produced legit independent movies, micromouse competition(yet to participate, hopefully, I place high, I think there should be some Ivy league schools team in that competition). I have a lot of little projects here and there, like web pages, and bots, I’m not really sure how to include them.Java OCA 8
Minority, so probably affirmative action stuff.
I could make a case of how I have undergone a personal transformation recently(had serious behavior issues in the past), I guess that’s good for Essays.
Languages: Chinese and Spanish totally fluently.
Also, I want to transfer because I do not feel happy in my school, feels like everyone is there because of their families could not afford a better school or didn’t do anything in high school.
Would really appreciate if you guys could tell me if it is reasonable to apply to an Ivy league, and if not where I should be looking at.
@GamboaDd27 make your own thread for this don’t comment it on someone else’s. Also your GPA and college GPA as well as sat scores are all 3 a bit below ivy standards. Maybe if you can get your SAT up to at least 1450 you’ll have a chance but these schools are still highly selective. I’d apply to know more than 3 ivies if I were you. Also you said minority, certain minorities help alot more than others. Like say if you’re eastern Asian you’re now at a severe disadvantage as you’re an over represented minority at most schools
@GamboaDd27 I just reread what you said and realized you’re trying to transfer to an ivy. Some ivies have less than a 1% transfer rate and most have less than 5%