<p>Hello all,</p>
<p>I'm a community college student who's just been accepted to Columbia's School of General Studies. I was thrilled when I received my letter but, with a bit of research, my mood soured. As it turns out, Columbia (GS) doesn't offer financial aid parity with Columbia's other undergraduate schools. In short, I will likely incur significantly more debt than my counterparts.</p>
<p>Looking long term, I know that I want to get a PhD in sociology, teach at university level, and commit myself to scholarly research. That being said, I'm not sure how much debt I'm willing to take on with this much education still ahead of me. GS consistently places students in TOP graduate programs in almost every course of study. There's no doubt that succeeding at Columbia would in turn make me an attractive candidate for doctoral programs in my field.</p>
<p>Columbia is the only tier 1 school I've heard back from - so far. I'm patient and I know better than to send off a tuition deposit before seeing other financial aid packages. I have had multiple offers for full-tuition scholarships from tier 3 schools I've applied to. So, what does one do? Do I incur significantly more debt and hope that my education sets me up for financial success?</p>
<p>Thanks in advance!</p>
<p>Keep in mind that at the PhD level, many students are funded - they don’t have to pay tuition, in fact they are <em>being</em> paid. Top programs usually have more funding for grad students, in my experience, which is something to consider when looking at a program that consistently places students in top programs. However, even funded students are not usually being paid very <em>much</em>, which is also something to consider.</p>
<p>There’s not an easy answer to this. I’d say, look at what sorts of debt you’d be taking on, not just how much. For instance, if you are taking out a Perkins loan, there are programs, like the Peace Corps, that will repay a good chunk of it if you serve. Loans also have very different interest rates, different policies about whether you have to pay interest while you’re still in school, and so on. Also look at options for non-loan funding, like ROTC (which will pay your whole way) and external scholarships, and see if you would be willing to do/apply for any of those. Use the little online calculators to figure out what your monthly payments on the loans that you take out will be once you graduate, so that you can see whether that’s something you’re willing to take on.</p>
<p>I agree with jessiehl here - worry about the undergrad now, worry about PhD when you are a senior.</p>
<p>Financially, good programs are usually worth the money, but you have picked a very non-lucrative field, so be wary of racking up debt without a solid repayment plan. I would definitely investigate those programs that will repay your student loans, as well as any other internal/external aid you can find. Grad school funding will take care of itself if you have a good undergrad experience.</p>
<p>As to Columbia vs. ??? - it depends on the other unnamed schools. Columbia, as you noted, is very good. Some of the Tier 3 schools are pretty good too, it depends on your field. The best bet is to look where their sociology grad go - if they cannot get them into top grad programs, you do not want to go there.</p>
<p>Thanks for the advice, everyone!</p>