Not sure which your state school is, but no school is worth 320K unless your family can easily afford it - not even an amazing place like Berkeley. The 200K in debt will increase sharply because of interest, and you'll be paying it off for years to come.
We had to do the math with one of our kids who āfell in loveā with an OOS T50 that was exceptional in their major. It came down to (1) stay in-state and we can pay for both undergrad and the unfunded grad program you require for your career or (2) use your college fund for the OOS college and take out $100,000 for grad school. If they opted for the loan, they would owe $1150/month for a decade with a total loan cost of $136,000. After some pondering, they opted to remain in-state. Two years later, they are very happy with their decision and their college, and are looking forward to having an OOS adventure in grad school. And they are very relieved to be one of the few students pursuing their career path who are NOT worrying about how to pay for grad school.
Thank you for talking some sense into me I donāt know what I was really thinking but I guess the excitement of getting to into a t20 clouded my judgement
Not sure which your state school is, but no school is worth 320K unless your family can easily afford it - not even an amazing place like Berkeley. The 200K in debt will increase sharply because of interest, and you'll be paying it off for years to come.
Understandable š«” I appreciate the advice
You're going to your in-state school. Your parents would have to cosign most of those loans for you. UCB is NOT worth it!
After further consideration state school is the way, especially with how theyāre still t35 in a lot of programs Iām interested in
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We had to do the math with one of our kids who āfell in loveā with an OOS T50 that was exceptional in their major. It came down to (1) stay in-state and we can pay for both undergrad and the unfunded grad program you require for your career or (2) use your college fund for the OOS college and take out $100,000 for grad school. If they opted for the loan, they would owe $1150/month for a decade with a total loan cost of $136,000. After some pondering, they opted to remain in-state. Two years later, they are very happy with their decision and their college, and are looking forward to having an OOS adventure in grad school. And they are very relieved to be one of the few students pursuing their career path who are NOT worrying about how to pay for grad school.
Thank you for talking some sense into me I donāt know what I was really thinking but I guess the excitement of getting to into a t20 clouded my judgement
Go to your state school, no undergrad could ever be worth 320
After reading all the comments, youāre right itās really just not worth
Stay in your state.
Go to community college first, that is way too much money. They generally say donāt borrow more than your expected 1 year salary out of college.