Urgent question. Is the debt worth it?

Transfer Students
1

<p>I have a quick question and all opinions will be greatly appreciated.</p>

<p>I was recently accepted as a sophomore transfer as into a top 20 business school. I am thrilled about it but its a tad expensive. I received some financial aid but there is no way i can attend without some sort of debt. So here is my dilemma.</p>

<p>I go to the top 20 business school. I like the school. Financially it will be stressful on my parents, and I would graduate about 20 grand in debt. The school claims to have a 90+% job placement, so hopefully i will have a good job out of college to help pay the debt off if i attend.
Advantages...safer. I love the idea of going to college this fall as opposed to staying home and attending community college. my guess would be a better chance at an internship for next summer and would like to study abroad and i would be allowed to
Disadvantages...stressful on my parents and the debt</p>

<p>Or I could stay at home and attend community college and apply to schools next spring or fall. Ideally I would like to attend UVA if this happened, but this would all be a risk. If it paid off I would save alot of money and go to a better school, but it is also possible for it not to work out and I do not know what would happen.
Advantages...save money, no debt. possibility of a better school
Disadvantages...No study abroad. and riskier. Also i sort of fear the prospect of so much alone time staying home. I don't have any friends attending community college. Hopefully this wouldn't take a toll on grades too.</p>

<p>I hate to think of turning my opportunity down. I like the thought of it so much and I like the school, but it is so expensive. Is 20 grand in debt too much? Should i just stay home and aim high, work hard, and be hopeful it all works out?</p>

<p>I have to make my choice soon and I just don't want to choose something I will regret. Thank you for your help.</p>

2

<p>20K is about average- if this is the total you’ll be in debt and not how much per semester or year, but that doesn’t necessarily mean you should go ahead and get a loan. Always look at other options first. If you know the kind of jobs you’ll be getting will help you pay off this debt, then if seems like a good opportunity if this really is a fantastic business school. But don’t be naive, do real research on careers to see what kind of salary you’re looking at. It also depends on how long it’ll take you to get those jobs with that kind of salary. </p>

<p>And remember: a school’s name isn’t always everything. </p>

<p>Oh, and you might want to check those statistics before you assume you should be fine getting a job after you graduate!</p>

3

<p>The thing about good business schools is that you’re almost guaranteed good internships at Fortune 500 companies if you try to get them. Which inevitably lands you a 6 figure salary. In that context, 20k of debt is nothing really. I wouldn’t miss the opportunity.</p>

4

<p>Yeah, I’ve been in CC for 4 years and have amassed about $20k in debt, it’s something I was prepared for. I’m planning to graduate with a Psy.D/Ph.D in Psych so I’m prepared for the huge debt. Do some research, always research, but I’d prepare to accept that offer because it sounds good.</p>

5

<p>20k is really not bad debt at all, especially if it’s a top school.</p>