<p>I am deciding between Colby College in Maine and The College of NJ.
Colby is about 40,000 a year and TCNJ is about 10,000.
I would have a lot more fun at Colby, but I would be in debt.
TCNJ wouldnt be a really FUN experience, but i would be debt-free when i graduated.</p>
<p>Where would you go??????</p>
<p>welcome to the real world! As you get older you'll face the same decision many times. Buy a honda or spend more $$ and get the acura? Buy a house in suburb X or the more expensive one in suburb Y.</p>
<p>The point is nobody but you knows whether the debt is worth it or not.</p>
<p>what are your academic and career interests?</p>
<p>The question is, what is the cost of four years of fun at Colby, and is that incremental cost worth the enjoyment you will receive and/or any incremental benefit received that could not be obtained at TCNJ? </p>
<p>If you would not incur any debt at TCNJ, I assume that is because your parents will pay the $10,000 annual expense. Let's also assume that they will pay at least $10,000 of your expense at Colby.</p>
<p>As a result, let's figure that you will carry $20,000 of debt annually from Colby, for an aggregate total of $80,000 for your four years there. An $80K loan for 10 years @ 5% interest equals monthly payments of $850.00 for ten years.</p>
<p>The question is a personal one. Would your time at Colby be worth the approx. $850 monthly premium over the less expensive option?</p>