So I'm looking at 80,000.00 in loans to go to college.?

Question

The one college I got accepted to costs alot. Is 80,000.00 in debt worth it?

Will I live in destitute poverty, eating rats and pigeons?

Should I just not go to college?

Any advice will be much appreciated!

Answer 1

I'll have to pay a little more then $40,000 for  four years and I'm still a nervous wreck, after the grant and scholarship and work study. I can only imagine how you feel.

Answer 2

80K is outrageous.  Go to the local community college and attend for about 1,400 a semester.  You will prob still be poor (eating Ramen Noodles rather than rats) but at least you won't have to pick feathers and fur out of your teeth.  This is a good book about fin aid.

Answer 3

It's not worth $80,000 in debt. Go to a public state university (where you can probably graduate debt-free).

It think I'm going to graduate about $30,000 in debt (over the next 4 years).

Answer 4

Well, college is only worth it if you get a degree in a real major. If you're a great writer or an artist, you don't need to go to college and spend 80000 for that. However, if you're going into a career that deals with science, math or logic then yes it does matter.  

You have 10 years to pay off the loans once you graduate from school. However, you can start making small payments while you're in school. Also, getting some of your gen. eds at a community college helps.

I went to a community college for my first two years, and now I will only have $50,000 in loans versus $100,000. Also, if you're planning to work while you're in school, find a job that has tuition reimbursement. My employer helps with some of my costs.

Scholarships can also help, however, many people don't ever apply for them because of the small work involved in it.

Answer 5

I guess it depends on your earning potential once you graduate.  I currently have half that amount of debt.  I could have my same job as I have now without a college education.  I'm still glad I went to college.  I don't know if I'll ever be able to pay it off.  I've currently got the payments deferred since I can't afford to pay them back.  Unfortunately, they only give you 3 years of deferral and my 3 years is almost up.