Predator

Ok, I think I am mailing in the deposit today. Argh...feels like a new chapter in my life is beginning.

So, just to do one final overview...

Duke is giving me 13k/year for this year (but I'm not even sure if that will stay constant). Duke costs about 50k/year.

Michigan is giving me 26k/year for 4 years guaranteed, and it costs about 45k/year.

So, to go to Michigan, I would have to pay about...21x4 = 84k$ over 4 years, and my parents have about 40 saved up, so I would have to take a loan for about 40.

If I went to Duke, I would have to pay about...37x4 = 148k over 4 years, and my parents have the 40 saved up, so I would have to take out a loan for about 108 grand. And that's only if the need from Duke remains the same over 4 years (which I cannot be fully sure about).

Last of all, I am likely going to medical school after undergraduate...so I am thinking the loan of 100k to go to Duke will not be a good thing to have?

Sachmoney

Okay, that's another important thing right there. Med School will probably put you in a ton of debt, so it's definitely important that you not have that much debt. I think with the money difference that it's clear that Michigan is the right choice. I know that you really enjoy want to get into 60K extra debt? That debt is going to mean paying off interest. Interest is what will kill your income when you become a doctor. Additionally, you won't make a great amount as a young doctor (well nonetheless), so it'll be a process.

In all honesty, I'd love to see you go to Duke because that's where you want to go, but you don't want to be financially crippled for the next 10-15 years.

Predator

Sachmoney, you make a perfect point. It's all about...sacrificing a bit now to have a great future. Is it worthit to go to Duke at the risk of crippling myself for the next 10-15 years (which happen to be my prime years)

I'm thinking not. I'm able to see a bit clearer now hah.

Alexandre

Every year, there has been a student in your shoes Predator, and although they have doubts at first, they eventually grow to believe that they made the right decision.

Sachmoney

Not just crippling you for that time, but may be taking away your choices for Med School. Say you get into a really good med school, but you have to pay a lot of money. You decide that you can't afford to go there, and have to go to a state/cheaper med school. You're losing out on a great opportunity. I can see why you can prefer Duke over Michigan, but it's not like your experience will diminish from going to Michigan. You will save a lot of money, and probably be better off when you choose med school.