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How much does student debt impact your future Were you presented with better options financially? And if so, do you believe you made the right choice?
I have to decide between attending a school close to where I live for a full ride or my dream school that hasn't provided enough aid.
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Raj’s Answer
You're facing a tough decision! Here's what to consider: Can you gain the same skills and opportunities at a school that offers a full scholarship as you would at your dream school? Talk to professionals in the field you want to enter after graduation. Find out where they went to school and what they recommend. Some companies recruit more from certain schools, but many entry-level positions are open to graduates from any college.
There's no single right choice, but it's crucial to know if taking on debt will really help you achieve your career goals. I took out student loans, and while it helped, it was costly and took years to pay off. The importance of your college and major varies depending on your career plans. If both schools offer similar opportunities, or if you can work hard to make up any differences, choosing the no-debt option might be wise. You'll have less financial pressure and can enjoy college life more fully.
There's no single right choice, but it's crucial to know if taking on debt will really help you achieve your career goals. I took out student loans, and while it helped, it was costly and took years to pay off. The importance of your college and major varies depending on your career plans. If both schools offer similar opportunities, or if you can work hard to make up any differences, choosing the no-debt option might be wise. You'll have less financial pressure and can enjoy college life more fully.
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Ronan’s Answer
Both schools will have great programs and give you a degree to help start your career. Though I would say it heavily depends on the degree and the schools reputation. When I was applying to colleges I had got into a dream film school and a solid computer science school with a good scholarship. However the higher cost of dream school for a film arts degree to me wasn't worth the price compared to the bargain I got at the other school for a science degree. My parents were also more supportive of me pursuing a computer science degree.
This is a very personal decision which is based on your passions, the difference in programs, and many other factors like cost. I recently watched this graduation speech from Luke Nichols, who was once a lawyer who started his own practice and eventually started the Outdoor Boys youtube channel. He touches on many struggles he had faced in his studies, life and career which put into perspective what is important. Most of all he discusses how saving enabled him to pursue more opportunities and accomplish more things. Check it out as I wish I would've seen this before I was making college decisions.
https://youtu.be/ttQd5bEdfL0?si=2nAHcMPEHAbw0A6R
Best of luck in your studies!
This is a very personal decision which is based on your passions, the difference in programs, and many other factors like cost. I recently watched this graduation speech from Luke Nichols, who was once a lawyer who started his own practice and eventually started the Outdoor Boys youtube channel. He touches on many struggles he had faced in his studies, life and career which put into perspective what is important. Most of all he discusses how saving enabled him to pursue more opportunities and accomplish more things. Check it out as I wish I would've seen this before I was making college decisions.
https://youtu.be/ttQd5bEdfL0?si=2nAHcMPEHAbw0A6R
Best of luck in your studies!
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Vidhyasagar’s Answer
Choose a scholarship over your dream school to avoid college debt. Use the money you save to invest. Companies today focus on your skills, not where you studied. In 20 years, you'll be thankful when you become a millionaire or billionaire because you avoided debt.
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Riley’s Answer
First of all, congratulations on your acceptances! I wish you the best of luck in whatever path you choose is right for you. Others are correct that debt accrues interest and could set you back financially when you graduate. You may have less disposable income because you are paying down your debt, sometimes for 10-20 years. That is a huge commitment that will impact your lifestyle! This is where the amount of debt you are looking to take on really matters. You should also consider what your ultimate career goal is. Can you realistically get the kind of post-grad job you want at either school? If so, the school that gave you the full ride will be the more practical choice. However, if you know you want to work in a specific field (investment banking, private equity, big law, etc.) and your dream school places significantly more students there post-grad than the other school, your dream school may be worth considering.