<p>Im currently going to Penn State Harrisburg but we definitely cant afford out of state tuition here. We weren't even able to be approved for a loan to pay for school but my grandmother insisted and is paying for my school right now. I feel that I would be in way to deep in debt for loans after school. Would it be wise to stay the semester (since it has already been payed for) then transfer to an instate school in the spring? Or withdraw now and go to a community college for a semester then transfer to the instate school in the spring? (I paid about $15000. id be losing out on about $3000 or so because my school would only refund 80% of what i payed.) Would one be any more or less trouble than the other?
Has anyone gone through anything similar and had to make this decision?
Any and all information/advice is welcome and appreciated.</p>
<p>Even if you need repay your grandmother the money she put up for your education, completing the semester will mean that you are out 15k but have some 15 or 16 college credits. Withdrawing now means that you will have paid 3k for nothing.</p>
<p>Stay where you are, and start the application process for your home-state public U and for the community college so that you have a choice of where to go second semester. If money remains tight, you may want to attend the community college long enough to complete your AA and then transfer to an affordable 4-year college or university.</p>
<p>And please, please, please don’t let be afraid to tell your story to your friends and teachers back home. Maybe you can help someone avoid facing this kind of problem.</p>
<p>Wishing you all the best.</p>
<p>Thanks a lot. this really helped</p>
<p>I don’t think there can be such a cut and dry answer as above ^. It depends entirely on your specific financial situation.</p>
<p>One of the pitfalls (a logical fallacy) of Economics is considering a sunk cost (the $3,000 in this situation) when making a financial decision. No matter what choice you make, you’re not getting that $3,000 back so you need to focus on what you do have control over.</p>
<p>Is $12,000 worth 15 units? if so, then stay. How long would it take you to repay that $12,000?</p>
<p>I know if I had to make the decision I definitely would not equate $12,000 with 15 units that you could acquire for $1,500 at a CC. Of course, this is based entirely on the fact that I would hate owing my grandmother $15,000 for as long as it would take me to pay her back. Furthermore, this is an extremely large amount to pay a school that you know you are going to be leaving in a few short months and not returning to.</p>