Is Georgia Tech CS/CE worth the debt? [+$100k total versus University of Tennessee Knoxville]

Colleges & Universities Georgia Institute of Technology
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I’m a high-school senior who is about to graduate and I have been accepted to University of Tennessee Knoxville (~25k/year) as well as Georgia Tech (50k/year).

I’m in-state for UT and the plan is to major in computer science or engineering—haven’t decided yet. Don’t get me wrong, Georgia Tech’s CS/CE program looks like it’s phenomenal. But does it justify 200k in debt? I’m not so sure about that. My parents have about 100k in a college fund. I don’t assume or believe they will pay the rest. I don’t qualify for aid, so I would be paying off 100k.

I also happen to lean towards maybe pursuing a higher degree, but not certainly. Depends on the opportunities right out the door of undergrad. I would appreciate y’all’s opinions

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So $100K in debt is not worth it - and you can only borrow $27K, so that puts an end to that anyway. Your parents can borrow but you can’t.

$100K in debt (means you need to borrow more due to up front fees), over 10 years - depending on rate but assuming 8.1% (and 100K doesn’t net you 100K) is $1110 a month - so how will you pay that?

Don’t forget, colleges have inflation too - tuition, room and board. Costs if you move off campus.

The question to ask your folks is - if they’ve saved $100K - can they contribute anything each year in addition, out of their normal earnings. It may not e the entirety of the difference but maybe they have another $5K or $10K or $20K.

You really need to have the chat with them - given the monetary situation.

I know a young man at UTK in CS - and he had a great internship last summer and another at a leading place later this summer.

I don’t think anyone, myself included, will tell you reputationally or even opportunity wise a UTK can measure up (although in the end, one only can get one job or go to one grad school and in this case the school will matter less).

But one also can’t stay at the Ritz Carlton if all they can afford is the Fairfield Marriott - and even if your parents borrowed $100K on your behalf, how will they pay back the $1110 a month (for ten years). I assume they have a mortgage, car payment, and just life - and it sounds like they’re already stretched.

So in the case that you described, if the finances are as you described, you have to remove Ga Tech from your consideration set. But talk to your folks - if you really want to go to Ga Tech, maybe they have the ability to contribute yearly too - and you can assist with a summer job and eventually internships, etc. And maybe a part time job at school - although with CS that can be tough - and you can’t count on those for more than a few thousand a year.

And you can do very well, just as well, coming out of UTK - in aggregate less likely, but aggregates are just that and you’re an individual - so bust tail, apply for lots of internships after 2nd year, and be glad you won’t have debt strangling you or your folks!! And that gives you a lot more flexibility in life to do the things you want and when you want.

Best of luck.

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I agree with @tsbna44. If you could afford GaTech, it is great. But taking loans for CS - no way…

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Your parents can pay 100k, so the first two years of GT is covered

You can take a loan of 27 k, and you can try to do JOB and TA and make some money say 23k ?

Your parents have to borrow may be 50k in the last two years …

Assuming you end up in a good paying job , the debt should not be that difficult to clear off in CS filed , they get paid very well … This is other view

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Except that money can be used for greater goods like future family house, car etc.
Loans are never a good idea. I consider loans only for housing and nothing else…

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Is a GeorgiaTech degree in CS/CE worth more than $25,000 per year over a similar degree (CS or engineering) from the University of Tennessee at Knoxville ?

Check with each university’s career placement office for employment and internship statistics.

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In general, yes. But of course it depends on each student’s individual capability as well.

But is it worth taking a loan? That’s really up to the family to decide. Depending on their financial situation it may be ok or it may be burdensome. They need to figure that out - but GT is definitely the far bigger name.

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My thought is that GaTech C’s/CE would definitely be worth an additional $25,000 per year over UT-Knoxville. Extremely difficult for a non-Georgia resident to be admitted to GaTech as a CS major so it is safe to assume that OP has strong qualifications.

GaTech’s Atlanta location should help regarding internship placement year round.

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I agree with this. This is the type of student who is likely to generate sufficient incremental ROI to justify the additional COA. However, if this is going to be funded by loans, then its really upto the family to decide if it will strain finances.

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You need 25k a year in addition to your parents’ savings.

1° Ask your parents if they can afford anything from their income toward college costs.
2° you can borrow 5.5k in federal loans
3° you can look for a job at a coffee shop, a restaurant, a supermarket store and set everything aside for your costs - 15hours a week now, full time if they’ll have you over thr summer. You can probably make $2,500-4,000 that way (assuming you find a job now and switch to full time by June).
If the number to these doesn’t add up to 25k to make the full 50k, then you shouldn’t have your parents take on debt on your behalf.

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Agree 100% ROI needs to be considered … I know kids who are very talented but got rejected BY GTech

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It’s easy to spend families money - and bring them debt. Let’s not forget - no one (myself included) knows what the job market will be for CS/CE and other tech jobs in 4 years.

Today, according to Nick Bunker, head of Economic Research for Indeed Hiring lab, demand for employees in most industries remains high and layoffs are impacting an overall small sliver of hte economy.

That sliver - high tech. Julia Pollak from Zip Recruiter also notes that high interest rates hurt the sector because investors find other places to put their money - i.e. not investing in start ups - which when rates are low hire many.

To tell someone to go $50K or $100K in debt - in my mind - is criminal. There is a reason the feds only let you borrow $27K.

Everyone looks at when the job market is hot - but what about when it’s not. Meta, Google, Amazon and more have laid off people recently and even tech and engineering -no sure bet.

There’s been multiple occasions where people graduated at the wrong time - and that stings for a long time. It’s just it’s been so long - we forget and we don’t know when it will happen again.

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This cuts the other way too. Lot of lower ranked schools had really great CS outcomes in recent years but they could again be due to over hiring that prompted firms beyond their target schools. In a tougher job market, school brand and reputation could arguably become more important.

It would be interesting to compare outcomes for the 2024 graduating class but unfortunately that’s not available to the OP.

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Targeting internships in the summer and with 10-20 hours of part-time work it is possible. But do diligence on the rigor of the program and whether you are willing to go down this stressful path …

Sometimes the easier road may not be the best one to take .

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Paying off a $100,000 loan will not be easy no matter what you do. That’s not the issue though. It’s the impact on wealth building. Every dollar spent on loan repayment is one not invested early. You cannot make up for the time lost to compounding.

I’m not saying don’t do it. I just want you to be cavalier about the debt.

Congrats and good luck!

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Yes it does - but thank @eyemgh for this - and this is the point.

I still say - I don’t think it’s black and white - mom and dad saved $100K and I have to borrow the rest.

Saving 2 years worth is awesome. In most families there will be ability to provide cash flow as well. We don’t know this family.

But if OP wants to go to Ga Tech and I think it’s great if they can (but not at $100K debt) - I think as I noted above - they need to talk to their family to see how much they can provide annually from cash flow in addition to what’s been saved already. There’s likely something there to help cut the delta.

And we also don’t know if there are significant loans, are the parents willing to take them. Many won’t and I’d agree with them in that scenario. And we don’t know the family’s overall situation - income, others in college, mortgage, cars, etc.

To your point @ucscuuw , there are no assurances at any time and from any school.

That’s why I noted in my first post that Ga Tech in aggregate will outperform UTK - but aggregates are just that - not individual stories and you will see kids from UTK outperform kids from Ga Tech. If I’m a student who got into Ga Tech, I’m betting on me - and that I can win with hustle and persistence no matter where I attend school.

For someone to say having an $1100+ debt payment each month for ten years is palatable or easily recoverable, etc. from Ga Tech is malpractice - in my opinion.

One can say - you can get a part time job, etc - and I in fact said that, but many are so consumed by studies (which are hard in the major) and other pursuits on campus, that this might not happen or take away from the overall experience of being a college student - and then - what is the point?

Anyway, Best of luck to OP - whatever they decide.

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To be clear I’m not saying OP should go the GT route. For folks who have a decent financial baseline GT might be worth it and for those where it’s more shaky the other option might be smart. In a vacuum the GT investment of 25k will yield positive ROI and a good couple of internships can even wipe away most of that delta prior to graduation.

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But you’re assuming that same internship can’t be had at UTK - and while I only know one in the program at UTK - he made $30 an hour last Summer plus housing in Nashville (and he’s from suburban Nashville) - and this summer is off to Missouri that a Gtech kid would love to have and probably does have or has had before.

My Alabama MechE so different field - lived with two Ga Tech kids in MS. They all interned at the same place during the summer. Mine was invited back a 2nd summer. The two Ga Tech kids weren’t.

So in aggregates, I agree - but individuals aren’t an aggregation and I’m not sure that such a definitive statement can be made. If this student hustles, is persistent, etc. - then they have every opportunity to succeed - I believe. And if a Ga Tech kid doesn’t hustle - then same thig to the opposite.

The only thing definitive here - but again, OP should talk to the family and they might be able to cash flow - the only definitive thing here is potential loans - if OP can even take them …i.e. their family is willing to.

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That’s the very best case scenario and gets worse with every bump up in interest rate.

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Aren’t we talking $25k per year though?

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