Is going into debt worth it?

InigoMontoya
Mon, 02 Dec 2013 18:03:42 +0000

The simple answer is NO!

The more long-winded answer is: if you have to pay $30K/year, where is that money coming from? Federal student loans will only cover a fraction. Are you planning on taking the rest as private loans? Is someone prepared to cosign for that much? Or do you have resources to pay at least some of that tuition? Have you estimated what the monthly payments will be upon graduation, and looked at that in relation to rent, car, and basic living expenses and your anticipated income for at least the first few years, while you are building a resume? Will you be able to afford to live anywhere near where jobs would be?

Is graduate school a possibility? If so, better to save your money now. If you spend $120K for undergrad, would you be able to afford additional schooling, or are you better off getting the free undergrad and spending some of that $120K on a graduate program or financing unpaid or low-paying internships?

How many animal trainers are hired each year at places like SeaWorld? How many years experience do these people have? What jobs do they hold BEFORE getting on at SeaWorld? How will you pay your debt while you’re waiting for a 6 figure income that may take many many years to materialize?