<p>berkeley’s too overrated and personally I don’t think it’s worth the debt. I hear great stuff from UW too</p>
<p>Assuming a job that pays $40,000 per year after college (some college grads get more and some get less), you will barely be able to pay basic living espenses (rent/food/clothing) after paying taxes and student loan. $902 a month is like 3 or 4 car payments per month for 10 years. It really doesn’t make financial sense. Plus UW is a good school.</p>
<p>From the [FinAid</a> | Calculators | Loan Calculator](<a href=“Your Guide for College Financial Aid - Finaid”>Your Guide for College Financial Aid - Finaid) loan calculator.</p>
<p>Loan Calculator</p>
<p>Loan Balance: $80,000.00<br>
Adjusted Loan Balance: $80,000.00<br>
Loan Interest Rate: 6.80%
Loan Fees: 0.00%
Loan Term: 10 years
Minimum Payment: $50.00 </p>
<p>Monthly Loan Payment: $920.64<br>
Number of Payments: 120</p>
<p>
</p>
<p>120k for undergrad? Especially in biology? You are ridiculous. </p>
<p>
</p>
<p>I hate people who think like this. It is this type of thinking that is screwing up America. </p>
<p>This thread is good to read:
<a href=“http://talk.collegeconfidential.com/parents-forum/921138-suze-orman-student-loan-zone.html[/url]”>http://talk.collegeconfidential.com/parents-forum/921138-suze-orman-student-loan-zone.html</a></p>
<p>Last time I checked… bio majors were having trouble finding jobs, even those graduating from Cal. That of course is just my opinion.</p>
<p>could you defer until next year, even if you’d need to reapply?</p>
<p>maybe move to CA & establish residency?</p>
<p>would you qualify as an independent (age + other factors)?</p>
<p>if you become a CA resident & an independent applicant, you could qualify for FA such as grants & won’t have to pay for the out-of-state fees.</p>
<p>if these are possible, then 1 year wait might be better than 80k debt (?) that’s just my 2 cents ;)</p>
<p>goodluck!</p>
<p>No matter how much you owe for student loans, starting 6 months after graduation the MOST that banks can take is 15% of your paycheck (if for some reason you have huge debt and no income). However, typical student loan repayments are around $150 a month. If you are making 6 figures with your MBA from Berkeley, $150 a month is a joke lol.</p>
<p>50k for berkeley undergrad? I don’t think so, that cost way too much. It’s not even worth it. Follow the money. If I were in your situation, I would most def go to UW.</p>
<p>
</p>
<p>Are we talking about MBA’s here? This is about your undergraduate education which is practically the same thing everywhere. There should be no reason to take out such a huge loan just for undergrad. It is just not worth it. The only reasonable time an enormous loan should be taken would be for professional degrees like MD/MBA/JD/etc.</p>
<p>What is the starting salary for college undergrads anyways? I think most people would even be happy enough to even land a job that pays 50k a year out of college. But unfortunately many start out way way lower. I wonder what is the average salary for college grads from top 10 vs. local state uni? I don’t think the gap is that big of a difference. Definitely not a big enough gap to take out a huge loan.</p>
<p>I don’t like this “long term” thinking too cause it is not true. After years in the work force, no one will care where you graduate from. It is all about your work experiences from there out.</p>
<p>Another good thread to read.
<a href=“http://talk.collegeconfidential.com/parents-forum/871140-education-all-costs-myth.html?highlight=marry[/url]”>http://talk.collegeconfidential.com/parents-forum/871140-education-all-costs-myth.html?highlight=marry</a></p>
<p>^ Agreed</p>
<p>It’s only undergrad; no one should spend that much on an undergrad degree.</p>
<p>Like others have said, you will get a similar education at UW and UCB. Where you went as an undergraduate really doesn’t have as much weight as a lot of people make out. Also, remember that the UC system is making a lot of cuts. As far as the experience of attending Berkeley, it is absolutely true that your college experience is what you make it.</p>
<p>It really isn’t worth all of that debt at all. If Berkeley is your dream, you can always consider it for grad school since you won’t have any debt from your undergrad degree.</p>
<p>This is a rare scenario where UC Berkeley is not an optimal choice.</p>
<p>I understand the whole dream of being a Berkeley student and all. Try to break down this dream into concrete terms. Instead of trusting feelings and emotion, be honest with yourself and think of real consequences of an undergraduate degree in Berkeley. Sure, it is probably a bit more prestigious to attend Berkeley. But remember, it is not about the school that you attend, it is about YOU. What you will do to a school matters more than what a school does for you. </p>
<p>To be an incredible mathematician requires this kind of derive. As an example do you think Newton would have cared to be in Berkeley or Washington? Probably not! No matter where he would attend, he would be brilliant and create new ideas. </p>
<p>After all, you should realize that Berkeley needs you more than you need Berkeley. That’s why they are offering you admission. The whole education system is only partially about learning. You should realize that universities are after more than just satisfying your needs and the needs of society. Universities are like corporations in a sense. They are after their own interest as well. Probably Berkeley is thinking that by bringing you to their campus, they can make a crap load of tuition money (that makes no sense anyway, why should it be THAT much more for out of state??) while you work hard to make their school name even better.</p>
<p>At this point instincts probably tell you that you belong to Berkeley. But it also evades your senses to look into the future. In just two years being 80k in debt is a huge financial devastation. Two years of “happy” education can cost you tens of years of suffering in debt.</p>
<p>Unless you are going to be a millionaire or a CEO or somehow with more than 100k a year in salary, you’ll more than regret putting yourself in that much pressure financially. And you do mention that you don’t even know what kind of job you are probably going to find with your degree. It makes absolutely no sense to assume you will be that rich that paying back 80k (probably with interest almost twice) will be easy. It’s almost the price of a house.</p>
<p>So, to conclude, here is my suggestion to you. Listen to your parents and most of responses to this thread. The right decision is to be debt free at the University of Washington. Work hard there, explore your options for graduate school, learn, and enjoy not being financially in a deep hole. Good luck.</p>
<p>Washington is a top 50 school. Go to Wash. I didn’t apply to any private schools because I didn’t want to be in the same situation you are in.</p>
<p>
</p>
<p>So now I’m screwing up America because I want to go to a good school? People take out loans all the time to buy stuff and manage to pay it back. I’d prefer someone who takes out loans to go to a better school as opposed to someone who uses it to buy a new BMW or beach house.</p>
<p>
</p>
<p>I meant that assuming that it is okay to take out a huge loan just cause its is education and education is always a good investment right? Wrong… </p>
<p>Just cause you go to college, doesn’t mean you will rich and have a high paying job. People always assume this and justify that it is okay to take a huge loan out cause it will all work out…</p>
<p>University of Washington. For sure.</p>
<p>Don’t be stupid.</p>
<p>Uw.</p>
<p>It would be foolish to be 80k in debt for Cal undergrad for math when you have the option to be debt-free at UW. Besides, math at the undergrad level is fairly homogeneous. And I’m sure you’ll have a great time at UW.</p>
<p>Remember, if you really want to go to Cal there is always grad school.</p>
<p>UW for sure.</p>
<p>UW all the way!</p>
<p>I would definitely go to UW in your situation.</p>
<p>Rule of Thumb:</p>
<p>How much debt you graduate with (all loans you have) should be equal with what you should make the year right after you graduate</p>
<p>can you get a job in 3 years from now that will pay $80k+ if not then no.
Think about this, you are going to be making payments of close to $1000 a month for 10 years. Can you handle this? Remember this is only undergrad</p>
<p>Personally, no I would not go to any school for that much, but it is all up to you.</p>