I am extremely confused about choosing where to go to college next fall. Would love to get some opinions.
I will be Majoring in Computer Science if I go to SBU and as a dual major in Information Studies and Public Communications from Ischool and Newhouse if I go to cuse.
I really like Syracuse’s program much much more better than stony brook. However, they have not given me any scholarship. My parents have told me that they can afford to pay around $35k a year. This puts me in a position where I have to take a major loan to study from cuse, wheras SBU is much more cheaper since I’m instate and could even possible commute.
As far as non-academics goes, I am not super into partying and stuff but do like social atmospheres. I am also not into sports, but don’t mind watching.(telling this since i know cuse is a major sporting university)
So here’s my question, is taking a $20k loan worth it if you really admire the program at Syracuse? Will I be able to pay it back? Or should I stick to Stony?
Cost of Attendance at Syracuse is over $65K. I love the school (I’m an alum and my D will attend next year), but $120,000+ in loans (assume 4% tuition increase annually) seems like too heavy a burden for most.
@happy1 No. I was not able to get any aid because I am an international applicant (living in the states)
@Amkngk I am sorry for the misunderstanding. My parents can afford $35k of the tuition fees, and most of the room and board cost. Doing some calculations, I believe it comes close to $80k of debt and not $120k. Does your answer change on this basis?
First, as a student you can’t take out anywhere near the required amount in loans. Your parents would have to be both willing and able to take out the bulk of the debt. Second, and more importantly that would be a ton of debt to start your life with – the necessity to pay off that much debt would influence the choices you will make for years and years after college graduation.
Given your fact situation, I don’t think Syracuse is reasonably affordable for you. Syracuse is a fine school but if I were you I’d opt for Stony Brook. Your future debt free self will thank you.
I think it’s still going to put you in a precarious position, even if you can figure out how to borrow that amount. At 5% interest, an $80,000 loan would have you paying over $850/month for 10 years. Interest costs would be over $20,000, bringing total amount owed over $100k.