<p>Sit down and do the numbers. If your expected earnings are X a year, can afford to give Y percent of that to paying off the debts, and you have Z amount in debts with an interest rate I, then after the first year of working you’ll have Z<em>(1+I)-X</em>Y%= Z’, after the second you’ll have Z’<em>(1+I)-X</em>Y% = Z’’ etc. For a debt of $85k with a $50k salary and a federal 8% rate of interest, if you allocate 20% of your earnings ($833 a month) to paying the loan you can have it taken care of in sixteen years. Your actual numbers will probably vary though; you’ll be paid more than $50k after experience in the field, you won’t want to sink such a high amount per month into the loans, your interest rates could be lower.</p>
<p>If you’re comfortable with these amounts, then go ahead and accept Georgetown’s offer. If it was me, I would go to George Washington for $35k instead so I could pay it off quickly and get on with my life–get a cozy 3-bedroom, take some overseas trips, have a dishwasher…GW isn’t exactly a schlump of a school.</p>