<p>I’m not in any type of situation (thank god), but what would you rather do? Go to your dream school lets say NYU, but you will go into 200k debt or go to your local state school/community college? Which one would you pick and why? Is it worth the debt? I personally think it depends on what you want to be. A person who wants to be a teacher rather go to the lower ranked school. But if someone wants to go to Stern it may be different. I would never want to be in 200k debt though, just a number so you know. So, what’s your two cents?</p>
<p>I wouldn’t go into debt $200,000 for any school. I don’t see any school worth that much compared to a top public.</p>
<p>… do you have any idea how much $200,000 is?</p>
<p>Oh good Lord. $200K? That’s just silly.</p>
<p>Let me put it another way. I have around $40K after two degrees and it’s already a bit of a strain on my finances. $200K would be around $2300 a month.</p>
<p>As one loan calculator states:</p>
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<p>This is not a bet you should take.</p>
<p>No way would I even consider going 200k into debt! That’s an insane amount of money, and no school could possibly be worth that much debt.</p>
<p>im terrified of the ~20k in debt ill be from Emory soooo</p>
<p>Unless your family is extremely well off, you should not be taking in more than 5k a semester in student loan debt, at the most. Especially in this economic climate.
If you are an exceptional student, and you are going to a top 10 business program, maybe a little more…
And if you are a ‘dead set on grad school’ type of person (immediately after graduation) then you should be thinking state school honors program (with some good internships) all the way.
You really do not realize how much 40 or 50 thousand dollars is until you are working out in the real world.
And in the case of NYU… two words… LIVING EXPENSES! Its Manhattan… home of the $28 caesar chicken salad and the $30 per hour parking spaces.</p>
<p>Thanks everyone. I was just using NYU as an example of which people could be in 200k debt. There are other schools which I’m sure you can. I just wanted to know what each person would do.</p>
<p>My dream school was Tufts. My family, after the stock market crash, can’t afford Tufts without taking 200k in debt. I am not going to Tufts and am going to a state school.</p>
<p>Tough times, I would never take that much money in loans. My mothers friend went to NYU and is almost 40 and still paying off her loans.</p>
<p>She also didn’t even have housing at NYU, she stayed with her parents. And she went and became a teacher, which doesn’t make much money. Also, tuition wasn’t as much money back then. I probably could go to UGA for free, because of the Hope Scholarship.</p>
<p>Student loan debt cannot be cleared by bankruptcy. </p>
<p>The debt is permanent and has to be repaid.</p>
<p>Debt slavery is , in fact, right now legal in the United States. The lenders can garnish whatever wages you earn to collect the debt. Welcome to the “land of the free”.</p>
<p>You make it sound like getting a loan is a bad thing BigG. Would you rather students be allowed to default on loans, causing banks to refuse to give any student loans at all?</p>
<p>I wouldn’t even want to clear it by bankruptcy. In parts of Europe, college is free. We are not the land of the free, lol. :(</p>
<p>The college is not free in Europe, they pay so much more in taxes than we do here? And of course we are the land of the free. College is not a right. The only rights we are afforded outside of the bill of rights are life, liberty, and the pursuit of happiness. I would agree that we may not be 100% free. But we are 99% and that is good enough.</p>
<p>200K is absolutely ridiculous. You probably wouldn’t even be able to get that much money in loans.</p>
<p>Definitely not worth it at all.</p>
<p>I agree:) :)</p>
<p>TO BUDDY: Actually in some places it is free such as Scotland. If you are from EU you get a discount. And no one should have to pay 200k for an education.</p>
<p>A college education is a product like any other. If you want a “superior” product for more $, then you have to deal with the consequences of having to pay for it.</p>
<p>Has anyone who has had to borrow $200,000 for undergraduate education found it to be a good investment???</p>
<p>I am not talking medical, dental, or law school but undergraduate.</p>