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How important is it to choose a college based on financial circumstances?

I am trying to decide where to go to college. If I go where I want I'm going to be in debt, but if I go where I don't want to go I'll have barley any. Is it worth not being happy if I'm not going to be in debt, or be in debt and get a better education and have a better experience.

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Thank you comment icon consider challenging what would make you happy or not and why. what are you looking to get out of the experience - both in the short run and in the long run and use that to help guide your decision. Elizabeth M
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Sneha’s Answer

Hey Jayla! Choosing a college based on financial circumstances is a really personal and important decision. It’s tempting to chase the dream school, but being deep in debt can add stress long after graduation. At the same time, your college experience matters. Your happiness, support system, and learning environment all play a big role in your success. Try to find a middle ground if you can, like negotiating aid, starting at a more affordable school and transferring, or looking for scholarships. Remember, success isn’t just about where you go, it’s about what you do with the opportunities you have once you’re there. I went to an in-state school and had the best 4 years of my life! It was affordable, I got a great education, and have tons of memories. It is really what you make of where you attend college. Good luck!
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Katie’s Answer

Hi, Jayla! You are very smart for thinking about finances sooner rather than later when it comes to your college education.

A key consideration to think about is your plans for after college and how you would attempt to pay off the debt based on the major and career path you have chosen. If you plan on pursuing a four-year degree in a field with starting salaries that would allow you to meet your personal needs while also providing you with enough funds to start paying off your debt, that might cause you to consider taking on debt to obtain a high-paying job that would allow you to pay the debt off. It's also important to consider if your degree path will require additional education (masters, doctorate, etc.) that would require you to attend more school and further prolong paying off your undergraduate debt and possibly include taking on more debt.

Financial Aid and Admissions offices at the schools that you are applying to can provide insight regarding what financing options exist in terms of debt and other scholarships that may be available to assist with funding your education. I would also highly encourage pursuing merit-based or need-based scholarships that those universities offer that would not require you to take on debt. Ultimately, I would recommend taking on as minimal debt as possible due to set yourself up for future success after graduation. Best of luck!
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