For an education, how far in debt would you go?

[Stout1]

TweetRight now I am in my sophmore year carrying a 3.4 GPA. I am for the most part taking all general educ. classes such as philosophy, intro to lit., sociology, etc. I have found a degree or type of field that i really think would interest me but I don't know if it is the smart move. The only college near me that offers this degree program is not cheap. I would be looking at close to 75K in debt after my whole education IF i don't get any scholarships and decide to pursue what I would be interested in.

Now i know don't let money decide what you want to do in life, but ****, 75K is NO chump change. I would be looking at $800 month for 10 years to pay it off. For me it just doesn't seem reasonable.

Oh yeah, ,projected money I could make upon graduation for this degree program is 30-50k, then in 5 years I am projected to make 50-70k (on average).

To me it seems as though if I don't get any scholarships then it would be ludacris for me to do this. I mean ****, 800 month for 10 years is damn near a house payment.

[daved150]

TweetI DONT KNOW THAT THE RETURN WOULD BE GOOD ENOUGH FOR ME....BUT, I'M JUST A DUMBASS WITHOUT A DEGREE, WHAT DO I KNOW?

[NATE]

Tweet30-50k in the first stint may not cut it. You need to be closer to the 50k. House payment/rent, utilities, insurance, health coverage ect ect...and 800 on top of that? I bet you'd be looking at mid 3k a month just for the things you need.

30 or 40 k a year wont get that done bro...

[SMILEY FACE]

Tweetall what i know off and according to my dad, that education will pay off later on in life

[NATE]

Tweet

all what i know off and according to my dad, that education will pay off later on in life

Not always...not if you can't make it directly out of college.....

[SMILEY FACE]

Tweetwell do what u got to do in order to be successful in life

[daved150]

Tweet

well do what u got to do in order to be successful in life

YEA, BUT DEGREE'S DONT GUARANTEE SUCCESS. ALOT TO THINK ABOUT BRO....I DONT KNOW THE TRADE YOUR TALKING ABOUT, OR THE FUTURE DEMAND THAT TRADE MAY HAVE

[supasaiyan99]

TweetName the degree!! Personally I work in a place were there are students who went to these Ivey Leaque private schools and I guarentee we are making the same amount of money. Their degrees at the expensive school does not get them higher pay!!! For example a co-worker who recently graduated has 60k to pay in loans. I got accepted to her school but I knew I would never afford it. So I went to a school that was within driving distance from my parents house. I got a scholarship and financial aid and free room and board since I lived with my folks. I graduated without paying a dime. My rule of thumb is, if your starting salary isn't more than the total cost of your education then go somewhere cheaper!!! It makes no sense to owe 75k in student loans and only get paid 30k a year.

[Stout1]

Tweet

Name the degree!! Personally I work in a place were there are students who went to these Ivey Leaque private schools and I guarentee we are making the same amount of money. Their degrees at the expensive school does not get them higher pay!!! For example a co-worker who recently graduated has 60k to pay in loans. I got accepted to her school but I knew I would never afford it. So I went to a school that was within driving distance from my parents house. I got a scholarship and financial aid and free room and board since I lived with my folks. I graduated without paying a dime. My rule of thumb is, if your starting salary isn't more than the total cost of your education then go somewhere cheaper!!! It makes no sense to owe 75k in student loans and only get paid 30k a year.

Without getting to specific....

This program isn't offered that much that is why it is in such high demand. The nearest college that offers this besides the one in my state is over 500 miles away. It is in the "public service" area that teachers, hospitals, cops, etc would fall into, if that explains more.

[supasaiyan99]

TweetHmmm.....public service? So you will be concidered a "civil servant" then? If so "Civil Servant" payscales are not the greatest until you reach a senior position. By the way you describe the pay ranges it sounds like the government GS payscales. If you are very passionate about it then go for it. Money isn't everything. If you aren't happy doing what you are doing then no amount of money will make you happy.

[MeatHead]

Tweet

Right now I am in my sophmore year carrying a 3.4 GPA. I am for the most part taking all general educ. classes such as philosophy, intro to lit., sociology, etc. I have found a degree or type of field that i really think would interest me but I don't know if it is the smart move. The only college near me that offers this degree program is not cheap. I would be looking at close to 75K in debt after my whole education IF i don't get any scholarships and decide to pursue what I would be interested in.

Now i know don't let money decide what you want to do in life, but ****, 75K is NO chump change. I would be looking at $800 month for 10 years to pay it off. For me it just doesn't seem reasonable.

Oh yeah, ,projected money I could make upon graduation for this degree program is 30-50k, then in 5 years I am projected to make 50-70k (on average).

To me it seems as though if I don't get any scholarships then it would be ludacris for me to do this. I mean ****, 800 month for 10 years is damn near a house payment.

where are you thinking about going?

[Stout1]

Tweet

Hmmm.....public service? So you will be concidered a "civil servant" then? If so "Civil Servant" payscales are not the greatest until you reach a senior position. By the way you describe the pay ranges it sounds like the government GS payscales. If you are very passionate about it then go for it. Money isn't everything. If you aren't happy doing what you are doing then no amount of money will make you happy.

No, it would be private (did a horrible job explaining).

[supasaiyan99]

Tweet

No, it would be private (did a horrible job explaining).

Well that's good. You have a better chance of moving up in the private world than in "civil servant" positions. Before you make your decision think about $30k to $50k. If you make $50K after fed taxes and insurance and 401k contributions you are left with like $38k without counting state taxes. I live in FL so I don't pay a state tax (I'm a few K shy from 50k but I contribute 10% to my 401k so that's how I got the 38k figure). I'd say go for it and after a few semesters try to get an internship or co-op in the field and see how you like?

[Merc]

Tweetstart applying for scholarships and grants. I actually make money when I go to school b/c of the grants that I end up receiving. A lot of money goes unclaimed each semester so just start applying even if you think you dont qualify. I apply to probably 50 grants/scholarships each semester and get about 8+ (with a 3.2GPA) each semester, most for $1000+ In the long run that little piece of paper is well worth your time

[DIRTY_SOUTH]

TweetI have over 40k in student loans and I've been paying $69.00/month for the past 5 years. Finance the loan for longer than 10 years... Then as long as you make a monthly payment you will not be penalized on a subsidized or unsub student loan. It make take me 30 years to pay back all of mine, or I may just die before I ever pay it back Really hard to give advice not knowing all the details bro.