<p>I'm in a huge predicament. I don't know where to transfer to. I sort of want to go to the U of MN, but it's a lot more expensive. The state college is closer, cheaper, but doesn't have the exact program I want. If I go to the U of MN it will cost around 40,000 give or take. If I live at home and go to state it would cost around 16,000. If I don't live at home it would cost around 29,000. How hard is it to pay off this kind of money? Should I let that keep me from going to a new horizon (the U of MN)? I appreciate and really need advice. Thanks</p>
<p>40K per year for U of MN? Or total for all four years? </p>
<p>Tell us a bit more about the program differences–slight or major?</p>
<p>It also makes a difference what kind of work you are going into in terms of total debt load. A Computer Science major with a kid who is already a programming wiz can reasonably take on a larger debt and have the ability to pay it off. A Classics or Humanities major with no inroads on a way to make 50 - 70K a year straight out of college should consider being much more conservative about debt load.</p>
<p>Do you have thoughts of grad school? That can often tilt in the favor of staying local and cheap.</p>
<p>So - tell us more so we can help you weigh the pros and cons.</p>
<p>Thanks. It would be 40K for two years. I’ve completed my generals at a community college. The states college’s (MSU) program is a little different than the U of M’s. I do have thoughts about grad school, but nothing set in stone. The program at the U is under Journalism/Mass Communications and is called professional strategic communications. The state college would be public relations or advertising. </p>
<p>My biggest thing is the money and I sort of what to go somewhere else and do something different. I also think that I would have better opportunities at the U, but right now I think I’m a little biased which may be causing me to be blind and possibly greedy.</p>
<p>Would all 40K be all in loans? You mention feeling greedy – are your parents helping pay some of this? Or do you just mean you’re excited about the U of MN no matter the costs and get swept up in the excitement/possibility of going?</p>
<p>I see your dilemma better now… in terms of internships and possibly making connections in the Twin Cities, the U is a better fit. But it has to work in terms of your total loan burden as well. How much student loan debt do you feel you could handle? What types of loans and rates would you be taking out?</p>
<p>My parents would help me some what, but the great majority will come from loans and hopefully scholarships, etc. When I say greedy, I sort of mean what you said about the excitement/possibility that it’s a bigger, and probably better school. Anther aspect is I don’t know if the extra price is worth it. </p>
<p>I would just be taking financial aid options out. My current rate is around 6%. Less debt is always better, but another thing I don’t know is more good debt worth it for going to a better school with better opportunity?</p>