1 answer

Is having student debt worth it?

Asked Hanover, Minnesota

I'm asking because I am wondering if someone decided to go to a more expensive school rather than a cheaper school with the same amenities- basically everything is the same, except the name of the school. I am currently trying to decide whether being in debt from school is worth it because I fell in love with an expensive school but would have to take out a huge loan in order to attend. I'm just seeking advice and interested in hearing what others have done. #college-selection #college-advice #college-bound

1 answer

Abhinav’s Answer

Updated Gurugram, Haryana, India
Hi Faith, I believe you should see the benefit to cost ratio for both the schools. By benefit i mean how much you are expected to earn after graduating from that school, take expected sum of earning of 3 years, and by cost i mean how much tuition fee + rent + food you would spend over the years in school. By my experience if this benefit / cost ratio is greater than 1 then it can be of good choice. Moreover i would suggest you to think from your mind first before making this choice. Know about different institutes in the same field, get as much knowledge as possible, get reviews from students who have studying in the same institute or have already graduated, Quora / Linkedin might help. I hope it will help you in making your decision.