60K Debt for Duke?

Emc2Fma
Thu, 25 Apr 2013 19:17:57 +0000

Hi!

So I got my financial aid package from Duke and it offers about 30,000 in grants. My parents are expected to contribute 24K/year, I’m expected to take out 5K/year in loans, and I have a 2K work-study allowance which amounts to Duke’s COA.

My parents can pay the 24k/year - however, it will be a bit of a struggle and they might have to pass up some luxuries. I would prefer that not happen so I am willing to take an additional 7K-10K/year in loans. This means I would graduate with 40K-60K in debt.

Is this a reasonable amount for a Duke education? For reference, I’ll be majoring in physics…not sure about a career yet. I plan on going to grad school in physics but I know that those are usually fully funded with stipends so cost shouldn’t be a factor right?

Any advice?