<p>I was admitted to WashU as a sophomore transfer for fall 2008. I am very unsatisfied with my current university for major academic, social, emotional, and slight financial reasons (I'll have to pay for an apartment next year if I stay).</p>
<p>I've wanted fairly badly to go to WashU for a large amount of time now, and I feel that the school is a good fit for me both academically and socially (I want to be an actuary). But the problem is that unfortunately as a transfer I don't qualify for the no-loans financial aid program. My family is low income (my efc is 0 for my custodial on fafsa) and I only received about 27k in scholarships. This would leave about 20k per year in loans, provided I still don't qualify for the program next year.</p>
<p>Would you recommend for me to still go to one of my dream schools?</p>
<p>Thanks, I'll try to cross-post where relevant.</p>
<p>Go for it. Seriously...$60K in loans sucks, but compared to the dissatisfaction and lifetime of "what ifs" if you don't go to WashU will totally outweigh that $60k.</p>
<p>Yeah, after all, what's 60 grand? Especially considering the obvious lifetime of dissatisfaction you'll experience if you don't go to Washington University.</p>
<p>I hate to be the downer, but 60k in debt is a lot of money. I don't know much about paying off student loans, but I'm guessing that it's going to take you several years to pay off 60k. Then, if you end up going to graduate school, you're probably gonna have to take out another, smaller loan to pay for that, so you're looking at paying off loans until your in your early to mid 30s.</p>
<p>My point was that 60k is a huge amount of money to so casually borrow just b/c you've always had an interest in a particular school. Unless there are overwhelmingly obvious financial gains to be had by getting your degree at this school, you should think long and hard about going there. 60k might seem somewhat abstract on paper, but in 3 or 4 years it will be all too real. Relative to average starting salaries, that monthly payment to Sallie Mae or wherever is going to mean a huge compromise in your lifestyle. Just something to chew on.</p>
<p>I think it depends on your major and post-graduation plans. E.g. if you're positively going into medicine or a similar stable/high-paying career, paying off 60k isn't too bad.</p>
<p>As I stated in the OP, I am on track to becoming an actuary. Obviously most of you don't know much about being an actuary because you don't need to go to grad school...</p>
<p>The gains at WashU are obvious...there is no recruiting for actuaries at my school, and the pre-actuarial classes and programs are all but non-existant. Not to mention actuaries are fairly well-compensated.</p>
<p>Of course. Taking out 150k in loans to attend a T14 law school is a no-brainer if you know you'll have a starting salary of 160k waiting for you post grad. In that case, your student loan is a calculated investment.</p>
<p>Spending 60k on a school just b/c you've always wanted to go there is a different story. I'm not saying the OP necessarily feels that way. I'm not even saying the OP wouldn't be justified in borrowing the money if he/she did feel that way. I just think it's important to make the distinction, and to know what you are getting yourself into.</p>