<p>UMICH is going to cost 50,000 a year, over three years (i've already done one year at UMICH) and wayne state is going to cost 20000 a year for three years. around 95000 difference. should i switch to wayne state and save the 90000 or is umich worth the extra cost? my major is computer science.</p>
<p>in the end, i will have to pay back my parents.</p>
<p>Take a leave of absence from Mich for one year and attend Wayne State. Make sure you can return to UMich and that all your classes will transfer and count towards to your major. After one year decide if Wayne State will get you where you want to go or if UMich is worth the extra $.</p>
<p>It’s worth noting that the OP is international and plans on going to grad school.</p>
<p>It is a relatively easy math equation, and if you can’t solve it yourself, then you should really re-think getting a degree in an engineering field.</p>
<p>You know the cost of the schools (amount to borrow for each).
Find out the average salaries of graduates from each school
estimate you cost of living
Salary less cost of living is free cash flow to repay debt
compare the two options</p>
<p>Oh, and don’t forget taxes.</p>
<p>I did the math, and it came out to 8 years, but I was hoping that others would help me snarky replies.</p>
<p>for the salary I used 90,000.</p>
<p>Really? $90K? You can expect that in a decade or so…</p>
<p>I would choose Wayne - that is a big cost difference.</p>
<p>And $90k … you do need to use a smaller salary.</p>
<p>the starting salary (avg) for umich cs is 75,000, and with a masters, that will probably increase another 20,000 -25,000 (regardless of where i do the degree, because I will probably do it at a 20-30 ranked univ.) do you really think I won’t be able to pay back 300,000 in 7-9 years, with a cs masters degree? I plan on living very frugally. </p>
<p>I don’t want to dig myself into a hole :(</p>
<p>
</p>
<p>Some would say that is a hole - Being required to live very frugally vs. life style choice. BTW: “living very frugally” is how most people become millionaires.</p>
<p>
</p>
<p>That requires an additional analysis. Questions you have to answer are:</p>
<p>1) Grad school acceptance from various undergrad programs
2) Benefit of grad school - marginal additional earnings, cost of grad school, and forgone earnings.</p>
<p>I want to go to grad school, and if my future employers will not be looking at my undergrad after I do grad, I will transfer. If not, I might stay because Wayne state is not ranked too well. But in the end, I guess it’s all comes down to how valuable I am to future employers.</p>