<p>I'm facing my college decision, along with many other seniors, and I've been contemplating:
is it better to go to a private school that could be better for your major and come out with loans and debt or to go to a state school that's not quite as good with no loans or debt? Help me please! I'm weighing the pros and cons.</p>
<p>Melanie… Really this is a family decision. </p>
<p>Here is my opinion… If your only loans are the stafford loans in your name…and YOU are willing to assume that debt, then fine. However of your parents will have to cosign loans in excess of the Staffords, you should think more than twice about that debt.</p>
<p>It’s also impossible when you just say state and Private. Are we talking Harvard and CSU Chico or Princeton and UVA?</p>
<p>Run the numbers here, and see what you think: [FinAid</a> | Calculators | Award Letter Comparison Tool](<a href=“Your Guide for College Financial Aid - Finaid”>Award Letter Requirements - Finaid)</p>
<p>What are the schools?</p>
<p>Are you talking about Loyola Chicago and a state school?</p>
<p>Which state school?</p>
<p>how much debt are you talking about?</p>
<p>What is your major?</p>
<p>I doubt that the private would be worth a good amount of debt. It’s not like you’d be paid more upon graduation. Companies won’t pay you more money.</p>
<p>I have no problem with a reasonable amount of debt as long as you can reasonably expect to have a job that will allow you to repay the loans within a reasonable timeframe after graduation.</p>
<p>I was never a fan of the social work students who borrowed $30,000 a year for their MSW … can’t imagine that will be easy to repay.</p>
<p>What do you mean by “better for your major” and “not quite as good?”
If you mean the state school will limit your ability to get hired in the first place and forever keep you from making a decent living, then that is something to consider.
If you mean you have heard state schools aren’t as good as private ones, you may have been mislead.
It can depend on which major you want.</p>
<p>It totally depends on which schools you’re talking about, what major you’re talking about, how much debt you’re talking about, and what kind of job you’re likely to get at the end of the line. More information would allow people to give more helpful advice.</p>
<p>Loyola University Chicago and the University of Nebraska Lincoln.</p>
<p>I’m choosing between Loyola University Chicago and University of Nebraska Lincoln.
I’m a marketing major and Chicago will provide many more internships and experiences that deal with my major as opposed to Lincoln Nebraska.</p>
<p>What would the annual cost (after scholarships and grants) be at each school?</p>
<p>Yes, please, can you tell us what your intended major is? I honestly cannot see any reason to take on lots of loans to go to Loyola over UNL unless you are talking about a major where Loyola clearly and unquestionably offers better opportunities than UNL. Since UNL is a higher ranked school overall, I’m curious to hear what the department/major is. Will undergraduate school be the end of the road? Or is graduate school a possibility? </p>
<p>I have some personal experience with both these schools, as I live in the Chicago area and graduated from the University of Nebraska-Lincoln. I understand the lure of Chicago, and Loyola is in a vibrant, bustling neighborhood. But Lincoln is a great college town, whether you love football or, like me, if your interests lie more on the artistic, intellectual side. I received an outstanding education and I have a great life now (30 years after graduation, yikes). If I were you, I’d think very hard about the amount and kind of loans required to attend Loyola. Chicago will still be here when you finish your undergraduate degree. </p>
<p>Best wishes to you as you consider your options!</p>
<p>It depends on so much. It depends on how much money is on the line, and more importantly, how you and your family can afford that kind of debt or payment. If your family were on the brink of financial disaster and every penny is needed, I think the answer is obvious and even going a way to college unless covered by grants may be out of the question. If your family is flush and can well afford it, but may have to delay that second home and boat a few years, I’d feel a whole lot differently about the choice. </p>
<p>Of the top of my head, I would go with UN. As Marie writes, Chicago will still be around, and though Loyola is a great school, UN has the quality of courses too. State flagships do well in that area. Some advantage is there being right there in Chicago in terms of job opportunities, but how much in dollars does that translate into? Not the difference in cost. When you get those first jobs, having that loan payment is going to be a real downer. My sons see this all of the time here. They are very lucky and know it that they do not have a loan payment each month.</p>
<p>***State school with no debt VS private school with loans?
***</p>
<p>So, your title suggests that UN-L has given you enough merit/aid so that you have no debt (or parents are paying)…and…Loyola didn’t give you enough so you’ll have debt.</p>
<p>No question about it…go to UN-L. Besides, now you can justify a study abroad experience of something. With debt at Loyola, doing some of the fun extras may not be affordable.</p>