My nephew is trying to choose between Thomas Jefferson in Philly and Temple. Thomas Jefferson would not require debt, while Temple would run about $40K. He intends to major in communications with an eye toward journalism because he likes to write but he isn't particularly clear on what he wants to do. So basically the question is this: better school for more money/debt versus decent school for no debt for a kid who is still figuring things out?
that's nothing (in my experience).
go to the better program.
that's nothing (in my experience).
go to the better program.
I had about $70K in total, give or take, and it was still a pretty substantial undertaking to pay it down.
A $50k base with rent, commute, food and then loans is rough.
I’d take the no debt route and start adulthood with nothing weighing me down. I’m not familiar with the two programs but unless it’s the difference between Yale and UConn, is it worth the debt?
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but I wouldn't let 40k swing my decision. When people talk debilitating college debt they're talking hundreds of thousands, not 40k.
that's nothing (in my experience).
go to the better program.
I had about $70K in total, give or take, and it was still a pretty substantial undertaking to pay it down.
Well it's easy for people to say "don't go to college it's a ripoff". Which is true, but reality is for this generation at least unless you want to go into a labor trade most jobs won't hire you at new grad age without a degree.
And if they do hire you without a degree you are making less than people who have a degree.
So if you're not going into the military or learning a trade, you really need to go to college.
Now you weigh how much difference the schools have in earning power and decide if 40k is worth it or not.
At some level there isn't much difference between schools, a degree is a degree, but at some level there is a difference. Most of that IMO is making connections and getting noticed on a resume/linked like site.
is it worth 40k difference between Ben Franklin and Temple? No idea. I doubt anyone does, but like I said I wouldn't let it hold up my decision.
I had much more debt than that and paid for college on my own. I felt a major sense of accomplishment paying off my college debt. I never thought of it though that in terms of if I had a choice to go to a lesser school and have no debt, would I have done it?
Maybe. Not sure.
In his case, he's going to need a graduate degree more than likely, so might as well just punt that money into his masters.
In his case, he's going to need a graduate degree more than likely, so might as well just punt that money into his masters.
Ditto. The problem with debt is that it limits your choices for graduate education and even the job you wind up taking. Temple isn’t a school which is going to be a difference maker, like an Ivy would in terms of entre, alumni, etc.