My child is about to graduate and must make a decision for college soon. She would like to study history and poli sci with possibly going to law school.
She has received a full tuition scholarship to Tulane. But, her dream school is Georgetown. Georgetown would cost us $60K per year. Is Georgetown worth taking on the debt?
We’re still waiting on Georgetown, but that’s my daughter’s dream school too. I’ve given it a lot of thought and decided for us that Georgetown will be worth it. But I’ve come up with a plan to try to minimize the debt. Also, after a lot of research, I realized Georgetown will provide my daughter with opportunities that her other college options won’t necessarily have for her major. So you’ll probably want to research if there will be anything that Georgetown can provide for your child that Tulane can’t. I think that’s going to depend on her major and career goals.
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Would you be taking out $240,000 in loans to finance Georgetown?
If so…I’d say no. That’s a lot of undergrad debt. And there will likely be law school loans as well.
If you can pay the $60,000 a year without loans, then go for it!
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In your opinion, why is Georgetown worth $60K a year more than Tulane?
She wants to major in History. She would also be going to grad school to become a professor or law school. Trying the weigh out the worth?
When our kids applied to college, we were in the financial position to pay full price. So when acceptances came in, we let the kids choose where they wanted to attend.
There is no way we would have taken out $60,000 a year in loans to fund undergraduate school.
I never said Georgetown was worth more. What I said was…if you are willing to pay the price and can do so without loans…go for it.
But what I really meant was…if you really can afford this college without $240,000 in loans, let your student choose.
If you are taking out $240,000 in loans, I personally think you should think twice about the affordability of Georgetown.
ETA…I think Tulane is a fabulous college.
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I’m not sure about history, to be honest. My daughter applied to the business schools. If it were me, I’d check the outcome reports at Tulane and Georgetown for the history major and see where the graduates end up. I would start there. That’s where my research started, and then it led me to look into some other things specific to my daughter’s goals.
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If money is not an object for your family (you can comfortably afford college + grad school for all children with no hardship and no or minimal loans) then let your D choose. If not, then Tulane with the scholarship is a great option.
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How would I find outcome reports for both schools?
How will law school or grad school be funded?
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IMO, Tulane is a great school. I don’t think it’s worth a quarter of a million dollars to go to a different school. That’s a lot of money, even if you don’t have to take out loans.
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Loans
Here’s the one for Georgetown. Post-Graduation Outcomes | Cawley Career Education Center | Georgetown University
You’ll need to google the one for Tulane and search through the links. Most schools seem to have them, some less detailed than others.
Thank you! I found the report for Tulane.
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Has your child been admitted to Georgetown during early action?
I would not take out significant loans to send my child to Gtown over Tulane – especially with grad school in the future. FWIW I know alums who have been happy and successful at both of the colleges you have under consideration.
Congrats on the great acceptances!
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Yes
Oh wow! Congratulations! Well, I hope you’ll be able to come to a comfortable decision.
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$240,000 in loans?
Ouch.
Tulane is a very good university.
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$240k buys a lot of Sazeracs. Laissez les bons temps rouler. Go for free. Go to GU law.
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