@MLeigh0407 I think you are making the wise decision. Your brother will be saddled with debt for years to come and the benefit of that “prestigious” degree won’t seem so great. The family members that are making your siblings feel badly about making affordable choices are simply awful people. I’m sorry to say this about your family, but its true. No one should be shamed about the school they attend. School is a tool to your future, not a trophy. You should be proud of your acceptance and even more proud of your wisdom to make a very adult choice.
@MLeigh0407, for what it is worth, I had a financial aid package when I attended undergrad, and I came out w/ about 20K in debt. I then went to law school and added another $45K to that, so I had to pay off a total of ~$65K. It really sucked. My husband also had debt (much smaller amount). We paid off all that debt in 10 years, but it impacted the first house we bought, our first cars, and even resulted in pushing off when to have kids. With our kids, our gift to them is if they meet our budget, they will have zero debt. You are completely making the right decision to avoid debt. When you are in the present at school, you don’t really think about it. But when school is over, and your professional life kicks in, having that debt impacts everything. Just one parent’s opinion.
@MLeigh0407 I am glad you have seen that University of the South is not the reasonable choice. If your dad does indeed 'make a lot of money" and will pay for it, then more power to him. I think every time you waiver in your decision you need to think long and hard about going into that kind of debt for a school’s prestige when the job coming out of it is not one that will make a lot of money to cover said debt. The full ticket price for tuition is $45120 for University of the South vs Kennesaw State’s $7432 in 18-19 that is not even covering room and board and expenses. Is the undergrad degree work nearly 7x more money at University of the South? The jobs in that field are likely to be work your way up, nights and weekends at events, and getting to know your museum gallery crowd in a particular big city. You will want to be free to have fun, take jobs you are interested in even if they are low pay and enjoy the museum work. If you are bogged down in debt or guilt from your parent’s debt it will be hard to do. Go to Kennesaw and spend the savings on your career, travel abroad, and being free to go be where the museum positions are
@MLeigh0407 Avoid the debt- it will give you freedom to do anything you want after graduation, moving and living where you see fit. In the long run it doesn’t matter which school you go to, it is what you make out of the experience. Your relatives should be proud of the mature financial decision you are making, not the name of the school. You will do great at Kennesaw and your older self will thank you.
Save your money for graduate school.
There are benefits to being able to say you’re going to attend the prestigious school, but they are fleeting. The more-affordable college offers lifelong benefits in a flexible lifestyle. You are making the best choice for yourself, not for your extended family!
I didn’t see anyone mention the fact that if the brother is not paying his loans (which are likely in the parents’ names and/or co-signed by them), it’s not a given that OP and parents would even be able to borrow another 100K+.
OP limit your debt, and also the two years at Kennesaw and transfer to UGA option could be a reasonable plan.
If it came to that my Grandparents would co-sign
@MLeigh0407 Some (many?) loan providers won’t let grandparents co-sign (depending on their age), as they want guarantors to be alive for the length of the loan
If your parents defaulted on your brother’s loan what bank do you think is going to lend them money for you? And why would your grandparents trust you to be able to repay that kind of money if you’re going into a low paying career? It would be selfish to ask your family to cosign $120,000 or more in debt for you just because you’re embarrassed to tell people you’ve decided on an affordable school.
If you’re concerned about what other people think, consider that they won’t be impressed by the name of the school when they find out your family is borrowing heavily for you to attend. Some employers won’t hire people who have such enormous debt, and people are taking college debt into consideration when choosing significant others too. There are a lot of good reasons to choose a school that’s affordable.
Ouch- yeah I guess that makes sense. Thanks I had no idea that was a thing. Mine aren’t very old but it’s definitely something I need to consider
Ok I get it, debt seriously sucks. Thanks for all of the advice everyone it’s really helped
A lot of what you do in life depends on you. When I started my career for one of the major tv networks I worked alongside people who graduated from elite schools, public universities, and community college. We all earned the same amount. I think for most careers the name on your degree doesn’t matter. It’s what you do with it that counts.
Thanks I needed to hear that
@austinmshauri I’m wasn’t trying to sound selfish by asking my Grandparents to co-sign. The only reason I brought them up at all is because they would be the most angry about my not going to a more prestigious University. It’s not that I’m embarrassed to tell people that I’m going to an affordable school, I’m just terrified to have to tell them. It’s ok though, I’ll figure it out. They can’t exactly blame me if a bank won’t give me the loans anyways
In my view, if family wants you attend a certain school and they are willing and able to pay for it - not co-sign loans, but actually pay the tuition, then it is fine for you to consider that school. But no one has the right to pressure you into going into debt simply to make them feel better. Its ultimately your life and you get to choose.
@MLeigh0407 - I would not sign off on a $60,000 loan for undergrad. My own daughter would need about $60,000 to go to her most prestigious option, but will instead choose between Pitt, Alabama and Temple so she can graduate debt free.
The other thing to remember is that things don’t always go as planned and many students don’t graduate in four years. If your plan includes maxing out debt, you have no flexibility to change majors and stay for an additional year or stay in school if other funding sources dry up (parent becomes unemployed, etc).
My first job out of college was at a museum and I wasn’t really making enough to comfortably pay my bills and make loan payments of around $100/month. I think $1000/month would only work if you continued to live with your parents until you were making way more money or they were paid off.
@MLeigh0407 Have a talk with the grandparents. They are proud of you and your acceptance but most grandparents are wise enough in years to know how debt can reek havoc on your life. They can still celebrate the achievement and recognize Kennesaw is the best deal for you and their kids
KSU is a very reputable school in Georgia. Its moving up the ranks as GT and UGA become much more difficult to get into. My child did dual enrollment there and it is a good school. Their political science department is very strong as is their nursing program. They merged with southern polytech and now have engineering. The same employers who hire students from GT, UGA, and Emory hire KSU grads. No way is Sewanee worth that. You can also transfer to GT or UGA after a year or two if you do well. However, most students love KSU. Sewanee is in the middle of nowhere. GT and UGA both have fabulous semesters abroad and I would bet you can do it at KSU.