Hello I was thinking of going to um twin cities but it will cost 10,000$ more a year for me compared to lacrosse. Twin cities is my ideal college for many reasons, for example it is big and in an city with a better science/law program, but if I plan on getting a phd or law degree can I really afford to take 40,000$ more in debt from undergrad? I am getting some scholarships but not enough, I will have debt regardless of which one I go to.
Thanks
tldr: is paying 10,000$ more per year in undergrad worth it for a dream college?
It’s not a big deal to spend more if your family has the money to pay it without any consequences. It’s not the best idea if you need to take out big loans, especially if you are going to grad school.
For law school admissions, the most important factors will be your GPA and LSAT scores.
The TC v. Lacrosse “brand” per se won’t matter.
Here’s a student loan calculator: http://www.finaid.org/calculators/loanpayments.phtml
The payment on a $40K 10 year loan at 5% would be about $424.
Law school is expensive, so you may need additional loans to finance that.
Median salaries for recent law school grads can be as high as $160K (for alumni of top schools, like Harvard or Columbia, in private sector firms). For recent graduates of, say, the University of Colorado or the University of Utah, or for public service jobs, your early-career salary might be more like $50K-$60K. In that case, you’re likely to find that $40K debt (in addition to whatever else you’re carrying) a fairly significant burden.
How much debt are you talking about?
You should limit yourself to the federal loans (5.5K for freshman year) and not have your parents take private loans for you.