So basically the two options for college right now for me is pace university and penn state. (Btw ik its late but i already put tuition down for psu and pace said i can hand it in whenever). Anyways, Pace has been my dream school forever I absolutely fell in love with the campus, surroundings, city ,the people and even the dorms when i visited. Problem with pace is that even tho scholarships + fafsa gives me a little More than half of tuition its still $28k for me to pay. What i can do is half loans where my parents pay $14k and i do 14k in loans yearly which is fine for me but they absolutely hate the idea of me doing loans that much (70k total loans including sub & unsub).
-meanwhile
Penn state is like $16k a year total which is affordable to them. When i visisted psu i definately liked it but i dont get the WOW im in love factor like Pace.
-also planning to go to a pa program after undergrad which ranges from 28k- 90k depending on program
- my friends & brother say go for pace 100% bc its my dream but the way my parents discourage it makes
Me not wanna go there
Thank you for answering!
*penn state- first 2 years $16k , last 2 years at main campus around 20-24k *
Pace sounds like a financial nightmare and is substantially lower ranked than Penn State. You don’t want to go into so much debt.
listen to your parents on this one.
thanks for the response
i meant to add this in but also keep in mind that they might equal out at the end ~ loans in psu will be around 20k at the end but if i go to paces PA master program after undergrad (one of the best in the country) its around 90-100k. =120k loans
Vice versa pace is 70k but if i go to stony brooks cheaper pa program its 25k = 95k give or take
Are those the only two combinations? Why not PSU + Stony Brook? That is SO MUCH debt!
No theyre not the only two, stony brooks is much harder to get into so it would end up being pace + psu if i dont get into stony brooks
Pace 4 year graduation rate: 36%, acceptance rate 85%. Why do you want to go there?
I am a local. Folks around here scratch their heads that kids from out of state consider it their “dream school”. If you got a free ride- great- go to Pace. But to go into debt when you have a wonderful option that’s affordable?
Madness.
Its 4 year graduation rate speaks volumes.
Meh. I’m not a big fan of judging schools based on graduation nor acceptance rates. But I do look at costs. And there’s no reason to pay that much for Pace. Imo there’s no reason to pay that much for PSU either.
Do you have cheaper options?
Your options – both for graduate school and for a job afterwards – may be seriously changed for the worse as a result of having all that debt. I know that right now, you want what feels great over what feels merely very good. When you potentially find yourself deciding between a job that would be very fulfilling and one that may be sheer drudgery but pays the bills including those student loans, you may find yourself filled with deep regret.
I’d give PSU a chance!
Courtney- in this case, Pace’s grad rate is quite relevant. It is a private college which is attractive to a lot of local kids who didn’t work hard enough in HS to get admitted to a more academically rigorous place. They get to college and guess what- they don’t work hard enough in college to graduate in four years.
You want to see the strivers? They are at Baruch, at Fordham with merit, at Macauley Honors, Hunter, Queens.
Acceptance rates are a popularity contest among 17 year olds. But graduation rates reflect the nature of the student body, the quality of the advising, the premium that the administration puts on “we will get you in and out with a degree”, all of which are relevant for a kid borrowing heavily for an out of state college experience.
Penn State is a better school than Pace. Pace isn’t worth the debt. I’d give up the dream of Pace - it’ll turn out to be a nightmare.
At this point, I would focus on the undergraduate costs and not try to justify the dream by thinking you will go to a cheaper graduate program.
When you look at cost, you need to cost the total four year cost including tuition increases and interest cost. With 70K of loans, the interest on the unsubsidized loans add up.
70K of debt is too much. You said you like Penn State. Based on what you wrote they have the program you want. Your preference seems to be based on the love factor only and not that one school is clearly superior in terms of academics or opportunities. I would go to Penn State.
Don’t listen to your friends/brother who have no concept of what it takes to repay that level of debt. Of course, they sat go to the dream school. Why not, they don’t have to pay for it.
@CourtneyThurston - how do you judge schools?
People are missing something big here… YOU can’t take out 14k in loans per year. You’re capped at 5500, 6500, 7500, 7500 for your 1st-4th years. You might be able to get a little more from Perkins if that’s in your aid package.
Where on earth is the other loan money coming from? Parent Plus? Those are in your parents’ name. Are they going to cosign for you? Unlikely since they hate the idea of loans.
^ this.
In addition, Penn State is a MUCH better school than Pace.
If you long for the city, use a little of the savings to take a megabus on weekends or breaks freshman year, and sophomore and junior year use for a summer internship.penn state is so bag, they may well have a study away program for a semester in NYC…
What would your major be?
Not to pile on, but Pace is not worth that level of debt especially with PA school on the horizon.
There is not even a question here. You have no idea what that debt will do to crush your life down the road.
Major is biology minor in business management or marketing
@MYOS1634 and yea i see where you’re coming from ive always been a city girl but there are many more oppurtunities to come hopefully