<p>I am a senior in highschool currently trying to determine where I want to go to school. At this point, I’m planning to major in biomedical engineering and possibly go to med school. I can go to UT Austin, Texas A&M, Tulane, Clemson, or Colorado State. My parents have told me that they are willing to pay for room and board, books,etc., and a set amount of tuition. Of these schools, Tulane is my preference, but would cost the most money. I calculated that tuition (including tuition increase over four years) minus the scolarship that I have and my parents help, would cost me personally about $28,000 by the end of undergrad. My question is, is it worth going to Tulane instead of somewhere like UT where I could emerge from my undergrad. studies completely debt free? Is this a significant amount of debt considering the average starting salary of a biomedical engineer?</p>
<p>Normally, I urge people to save money when they can. But in your case, I’m going to say follow your heart and go to Tulane. </p>
<p>$28k isn’t a huge number. Usually when students talk about wanting to avoid debt, they’re talking $60k at least. </p>
<p>Go to your dream school. </p>
<p>Additionally, check and see if they have a scholarship book. Lots of private schools have booklets full of scholarships given by private donors specifically for students of that school. If they have one, it could down your potential debt even more.</p>
<p>I’d go to Tulane.</p>
<p>bumpity bump</p>
<p>Are you in-state for UT-Austin?</p>
<p>If so, I’d choose UT-Austin because it will save you money and has a much better reputation in engineering than Tulane.</p>
<p>If you get a degree in engineering, pay is fairly standard across the industry. Very little premium is paid for the top schools. I’d want to graduate with as little debt as possible.</p>
<p>Lets see if I understand your question: UT-Austin,which is one of the top schools in the US and graduate debt- free or Tulane,which is a good school, that will cost you personally $28,000 per year, plus cost of living increases just for undergrad? Is this right?</p>
<p>If this is your question: ARE YOU CRAZY? Take the free tution and don’t look back!</p>
<p>^ Taxguy, it’s not $28,000 per year. The OP says $28,000 estimate in total.</p>
<p>Even so, I’d still want to save the $28k, plus the parents’ contribution.</p>
<p>I thought Tulane eliminated its engineering program.</p>
<p>I say go debt free…unless the Tulane degree will get you a job that is far better over the course of your lifetime. Engineering is respectable from almost any school!</p>
<p>I can say that having much lower debt in our 20s has paid our family marvelously in our 40s. The money we didn’t spend on college debt in our twenties was invested in homes and stock investments. </p>
<p>what will 28,000 in debt cost you, and for how long? reverse that payment, and invest it from age 23 to say age 30 or 33, and calculate the future value at age 43 or 53. Just an interesting excercise…</p>
<p>Your preference is Tulane, so although it costs a bit more, are you willing to give it up to go somewhere else? UTexas is excellent, but unless cost is a huge deal, go with your first choice.</p>
<p>Just my opinion.</p>