is minnesota worth it..?

believersmom
Fri, 11 Apr 2008 14:27:24 +0000

Zouman-
Just my personal opinion so take it for what it is worth coming from a stranger…
Unless you are interviewing with a Fortune 500 company or going into the field of IB, something like that and you are comparing one of the “Top 5” business schools with one not in the top 5, I believe that potential employers are going to care almost zip about WHERE you got your degree and more what you did WHILE you were getting it and who YOU ARE and how that comes across in an interview. Again, if YOU like both schools mostly equal from a “where do I see myself living and studying for the next four years” perspective then it makes good sense to be practical from a financial perspective (a good attribute in business) to choose the school that is more cost-effective for you (in this case UMN?).

Think more about the opportunities you want to have available and that you are most likely to take advantage of while you are in school, and less about the sainted “rankings.” If you are good at visualization, spend some quiet time visualizing yourself four years from now at each school, think about your debt levels at each and getting similar jobs at the end of school (regardless of field or major) - how do you feel? Was it worth it? Is IU $32,000 better??? Keep in mind that is only the principle portion of the loan - add to that the 8th wonder of the world, compounding interest, and it will end up costing you about $128,000 [someone please correct my figures if I am wrong - compounding interest upsets me so much I just block it out-LOL].

I swear, if I ran the world ALL HS juniors would have to take a class that explained debt and compounding interest BEFORE they entered the application process.

One of D’s schools, as part of their FA application process, required them to take an online tutorial about loans, etc. They had a calculator that projected about what a student’s salary needed to be at graduation to sustain various debt levels. It was a real eye opener for D when she saw just what kind of salary she would need if she attended some of the schools she was considering, and weighed in the back of her mind when she was deliberating schools.

In the end, only you (and possibly your parents) can decide what makes sense FOR YOU. Hopefully some of what I have said will make you think and help YOU decide for yourself what is right for you.

Best wishes on your decision. :)