3 answers
5
Updated 464 views

Is it worth taking out a huge amount of money in student loans for out of state college?

I'm out of state from NJ going to school in Boulder. Is it worth it, or should I go home? I don't want to be in crippling debt with a business degree.

college business financial-aid student-loans
Answer This
5

3 answers

0
Updated
Share a link to this answer
Share a link to this answer

Jerome’s Answer

I think this is a really good question. In my opinion, if there is something about that school that can elevate or accelerate your career, maybe it might be worth it. However, if you can get a similar education for way less, That would be my recommendation. The amount of interest you end up paying on some of the loans is sickening. I think my payments were between eight and $900 and like $600 of that was just interest. Having huge payments right out of college can definitely have an adverse impact
0
0
Updated
Share a link to this answer
Share a link to this answer

Chris’s Answer

Hi Cassidy,

This is a tricky question and really depends on your situation. From my own experience, I once dreamed of going to a school in Pennsylvania, which was out-of-state for me. I struggled with whether the debt was worth it. After talking with my parents and discussing the financial impact, I decided to stay in-state for lower tuition. Later, I switched majors from Pharmacy to Education, and the main reason for going out-of-state was for a top pharmacy program.

My advice is to chat with people around you, including friends who have faced similar college choices. Think about what comes next too. My wife chose an in-state school because she planned to pursue a PhD and knew she'd need money for that.

Wishing you all the best and good luck!

CR
0
0
Updated
Share a link to this answer
Share a link to this answer

Caulene’s Answer

Hi Cassidy, your question is really insightful and involves several factors to consider for making the best choice. I have two sons in college and we've been through this process, so I understand its importance. There's no straightforward answer, but here are some questions to help guide you:

What attracts you to the school in Colorado?
Do you see yourself living in New Jersey or somewhere else in the future?
Are you planning to pursue an advanced degree that might add more debt?
Can you apply for scholarships to help with costs in Colorado?
What is the total financial impact, and are you comfortable with it?

Whatever you decide, make sure to explore financial aid options. Good luck with your decision!
0