UCLA (50K) vs FSU (17K)

If you are borrowing $25k per year, you will not have any spending money in LA. You will be just sitting in your room.

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@gigi9 are these your only two options? Or do you have other affordable options in FL? Or elsewhere.

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I wouldn’t take out $100,000 in student loans unless the degree said M.D. next to it. It’s not worth it for a bachelors degree, I promise. Florida has some of the lowest tuition rates in the country.

Regarding living in CA after college. You do you…but you might want to consider a few things :slight_smile: There’s a lot to be said about buying power. On an entry-level salary in CA, you’d be lucky to get a 1 bedroom apartment. It doesn’t get much better after several years of experience, especially with 100k in debt. On the other hand, an entry-level salary in FL could get you a 3 bedroom house with a kids playground. There’s a big quality of life difference. And of course, you don’t have large student loan payments either.

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$100,000 in debt is way way way too much for a bachelor’s degree. Just do not do this.

You cannot borrow this much by yourself. You would need to get someone, probably your parents, to cosign for the loan. It is possible for them to at some point run out of the ability to borrow more money. I have known one person personally, and have heard of other cases, where a student got part way through university and then found that they could not qualify to borrow enough money to finish their degree. They ended up with a lot of debt and no degree.

Both of my daughters graduated from university with a bachelor’s degree and no debt at all. Both then immediately did something that they could only afford to do because they had no debt. One traveled to Spain (using money she had earned from an internship), the other moved west and took a dream job (that paid badly because it was such an attractive job – she could only take the job because she had no debt). You too can move west after you get your bachelor’s degree.

Florida State is a very good university. The money that you save and the lack of having any debt will help you for a long time after you graduate.

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This is important. $100,000 in debt would mean loan payments of over $1000 a month for 10 years or so. Think about that. $12,000 a year of your take home pay will be used for the loan payments for a long time.

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