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Is GWU worth 18k in debt?

jelly2122jelly2122 16 replies4 threads Junior Member
Is GWU worth 18k in debt? I just got in as a sophomore Political Communications major
18 replies
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Replies to: Is GWU worth 18k in debt?

  • sdl0625sdl0625 705 replies11 threads Member
    thats a decision you need to make for yourself. Being in DC GW offers amazing internship opportunities, but is that worth it to you, and will being at GW be better than where you are now.
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  • txstellatxstella 1124 replies7 threads Senior Member
    edited December 2019
    Is $18,000 your total projected debt?
    edited December 2019
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  • jelly2122jelly2122 16 replies4 threads Junior Member
  • cptofthehousecptofthehouse 29925 replies59 threads Senior Member
    I think total debt of $18k for 4 years is worth it. I doubt that is the case. Is $18k x4 years plus interest, plus possibly more loans for increase in costs ? That’s a bare minimum of $72k in debt, a big difference from $18k.

    Unless your parents are willing and able to significantly help pay for your loans. The $25k in Student Direct loans over 4 years with maybe a small additional subsidized loan over that is all students should take out. That’s going to be enough of a loan payment commitment to have to make coming right out of school, unless you have extraordinary circumstances.

    What are you parents committing to pay each year for college? What other choices do you have?
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  • jelly2122jelly2122 16 replies4 threads Junior Member
    18k total. I can either transfer to GW or stay at my current school, Chapman Uni.
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  • cptofthehousecptofthehouse 29925 replies59 threads Senior Member
    I don’t understand. You can get your degree at GWU for $18 in loans total for multiple years or is it per year? How much would you have to borrow for the 2020-21 school year? How many years would you have to go to GW to get your degree? How much are you borrowing EACH year at Chapman? How much in student debt will you have at the end of school year at Chapman?
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  • jelly2122jelly2122 16 replies4 threads Junior Member
    Total loans by the time I graduate in 2022: $18,000. For Chapman it would be more like $10,000. With ALL the costs calculated, GW is around $40k more expensive than Chapman, in total.
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  • EconPopEconPop 442 replies7 threads Member
    edited December 2019
    If the difference between the $40K extra for GWU and the $18K loan is $22K cash already allotted for college, and if you do not plan on going to grad school, I think it's okay for you to absorb the $18K in loans in order to make GWU possible.

    If you plan on going to grad school and would have to increase your debt load further to do so, I would save the $22K cash and $18K loan by skipping GWU now, and use that on grad school.

    However, don't immediately discount the value of $22k cash to your newly-graduated self. You could graduate from Chapman and use that leftover $22K as a downpayment to help buy your first condo in whatever city you end up working. There are a lot of variables to consider.
    edited December 2019
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  • EmpireappleEmpireapple 1968 replies27 threads Senior Member
    Are you looking at debt of 18K for GW and 10K for Chapman? I don't think that difference is significant enough to worry about. What school is the best fit for you? Where would you be happiest?
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  • austinmshauriaustinmshauri 9320 replies350 threads Senior Member
    Total loans by the time I graduate in 2022: $18,000. For Chapman it would be more like $10,000. With ALL the costs calculated, GW is around $40k more expensive than Chapman, in total.

    GW is nearly $14k/year more than Chapman. If you have to borrow $5k/year, where's the other $9k/year coming from? If you got a grant or your parents can pay it, then choose the school you like best.

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  • jelly2122jelly2122 16 replies4 threads Junior Member
    Hi there,
    I'm not sure what to do. GW has better academics and internship opportunities but at I would have to take a bunch of Gen Ed stuff whereas at Chapman the academics and internship opportunities are mediocre but I have an established group of friends, I'm the head of a club, and I can study abroad / graduate early if I stay. So for the present, Chapman would be better because then I wouldn't have to start all over but for my career/future, GW is definitely better. So I'm torn :(
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  • jelly2122jelly2122 16 replies4 threads Junior Member
    I'm not sure what to do. GW has better academics and internship opportunities but at I would have to take a bunch of Gen Ed stuff whereas at Chapman the academics and internship opportunities are mediocre but I have an established group of friends, I'm the head of a club, and I can study abroad / graduate early if I stay. So for the present, Chapman would be better because then I wouldn't have to start all over but for my career/future, GW is definitely better. So I'm torn :(
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  • jelly2122jelly2122 16 replies4 threads Junior Member
    I'm not sure what to do. GW has better academics and internship opportunities but at I would have to take a bunch of Gen Ed stuff whereas at Chapman I'm done with GEs but the academics and internship opportunities are mediocre but I have an established group of friends, I'm the head of a club, and I can study abroad / graduate early if I stay. And it's a lot less competitive. So for the present, Chapman would be better because then I wouldn't have to start all over but for my career/future, GW is definitely better. So I'm torn :(
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  • privatebankerprivatebanker 5817 replies84 threads Senior Member
    edited December 2019
    I’m a big believer in frugality.

    However, here’s the pivot. Lol.


    Political communications/science from GWU and all that experience, atmospherics, connections and local opportunities is a definately “worth” it for me.

    If the the other funds are savings it’s certainly my answer. If it requires financial engineering or hardship it would be a probably not.

    Best of luck. Two great options.
    edited December 2019
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  • blondeboynjblondeboynj 81 replies6 threads Junior Member
    If you want a Masters, save it.

    If not it is 100% a smart decision and will open doors to new opportunities.
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  • austinmshauriaustinmshauri 9320 replies350 threads Senior Member
    edited December 2019
    If you have to borrow $2k/year for Chapman and GW is $14k more than that, how are you covering the difference? Would you have to borrow $16k/year to pay for GW or did you get a grant? If you have to borrow to cover the gap I'd stay at Chapman.
    edited December 2019
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  • jelly2122jelly2122 16 replies4 threads Junior Member
    thank you so much!
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  • jelly2122jelly2122 16 replies4 threads Junior Member
    i got a grant from GW so in total by the time i grad i would owe $18k in federal loans for GW, which comes out to around 6k a year.
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