<p>Is it worth it to graduate in 3 years to avoid 50k in debt? I don’t qualify for financial aid and my parents are only willing to pay for $125k of my education. Thus, if I graduate in 3 years (with Advanced Standing) I would only have $25k in debt, vs $75k in debt over 4 years. I’m mainly worried about the social ramifications of graduating early and any other corresponding consequences… Thanks!</p>
<p>(I’ll have taken over 13 AP Exams by the end of HS and can qualify for a year of Advanced Standing.)</p>
<p>Every successful adult I know seems to strongly feel that going into debt over college is a really bad thing. If you really can’t get your parents to cover you, I’d try to graduate in three years.</p>
<p>Of course, consider that college is an experience that encompasses far more than the classroom. Even if you think of it purely as a means to an end, the connections, etc. you get from a prestigious college might not be as great if you graduate a year before your peers.</p>
<p>To me, I think doing advanced standing is a serious decision, so I recommend you pursue this question of yours when you come to Princeton as early as possible. If you’re not sure yet if you want to come here, then it’s best to email an administrator from Princeton to seek his/her advice. Unfortunately, I’m not exactly sure who handles these kinds of matter, so you’ll have to search on the website.</p>
<p>However, here’s a cool thing that may become relevant to your situation. I know a junior here who made $30k over the summer (he was earning $100k salary) after his sophomore year doing an internship at Jane Street Capital (hedge fund at Wall Street). The summer after this year, he got another internship offer from them so he’ll be making that much again. I’m only a freshman now, but I think you have to be really good and smart to be able to get such a well-paying job for a summer internship. But if you are worried about debt, and don’t mind too much working over a summer at Wall Street, you can try to get one of these jobs. I also know a current junior who will be working at Two Sigma (I think another finance company at Wall Street) this summer to earn $90k salary + $5k bonus (so I’d say ~$32k over the summer).</p>
<p>Back in the 80’s I did take advance standing at Princeton. My understanding is it was a little easier then and they have tightened up on the restrictions a bit, partly because it is disruptive to your college flow and they didn’t want people doing it on a whim.</p>
<p>In my case I took advance standing mostly because I really wanted to get out into the workforce and do real design which I found intellectually much more stimulating than hypothetical engineering via textbooks. It wasn’t strictly for the money, although my parents did give me that year of tuition to apply for grad schools. </p>
<p>At Princeton, the way it works is in the fall of your freshman year you take advance standing which means the spring of your first year is declared to be the spring of your sophmore year. Unfortunately timing because the spring of your sophmore year is also the time when you pick an eating club, which you normally do with your friends, but oops, your friends are still freshman. In my case I just picked a club at random and it all worked out fine, but the fall of my senior year was a little strange because I was now thrown in for meals with a bunch of strangers. Of course after a few weeks they weren’t strangers anymore and it did work out fine in the end, but I never did have quite the same bond with my graduation class as my non-advance standing peers.</p>
<p>So I wouldn’t do it “for the money” if you could possibly not. If there are other factors involved then weigh things carefully. Once you are there, you might also go to the financial aid office and ask nicely if they might have some money available when your parents generosity runs out.</p>
<p>I’m currently doing advanced standing. Initially the reasons were financial, but now I’m glad that I’m doing it because I hate Princeton so much. </p>
<p>That being said, they make it hard to graduate in 3 years. You still have to fulfill all the requirements, so planning is needed.</p>