College debt advice? Please help!

Carson_1
Fri, 19 Jun 2009 17:23:27 +0000

OK, I just completed my freshman year at Concordia College in Moorhead, MN. Good school. I liked the professors in my major’s department (math) and everyone was very friendly. However, tuition for next year will be $32,000. I have one scholarship for $12,500 and my parents are willing to contribute $12,000/year (which seems more than fair to me). Last year, tuition was $30,000 and I was able to cover the remaining $5,500 with money I had earned at a summer job for the past three years. I won’t be able to do that this year, and now the difference is at $7,500. With work this summer and work study during the year, it looks like I could take it down to a $4,000 unsubsidizied loan. And next year it will be $6,000, and the last year, $8,000. So I’m looking at roughly $20,000 in loans (before interest) to go to Concordia. Or, I could go to my hometown college, Minot State University, in ND. My parents would cover all the costs (except books). I plan to go on to graduate school once I finish my first four years, and I’m wondering if where you go for under-grad is important if you can get into a good graduate program? Certainly MSU is not as prestigious as Concordia, but if I work hard and perform well there, will it even matter? The question I really need answered: is it worth it to go to Concordia?

Any advice would be greatly appreciated.