How much did student loans influence your choice of where to go to school?

posted 3 years ago in College
  • poll: How much did you consider student loan debt when choosing where to attend college/university?
    I barely considered it because finances are no issue for me. : (11 votes)
    10 %
    I barely considered it because I didn't know how important it was/the impact of lots of debt. : (21 votes)
    19 %
    I considered it, but I still picked the college I liked best. : (15 votes)
    14 %
    It was a major factor in my decision. : (55 votes)
    50 %
    This doesn't apply to me (I only got into one school, I had full scholarships everywhere, etc.). : (8 votes)
    7 %
  • Post # 3
    Member
    2783 posts
    Sugar bee

    @howsweetitis:  I purposefully went to a local CC first because my financial aid would cover the cost 100%. I just applied and got accpted to a large state school that is very inexpensive….because my financial aid will cover 90%. I could have gone to the University that I live 5 minutes away from, but I would rack up 30k of debt in order to go there. My parents didn’t help me make that decision and neither did my school advisors. I researched and found the answers on my own and I’m very thankful I did it that way. I’m going to graduate with two bachelors degrees and maybe 7k of debt? I’d consider that a good deal.

    Post # 4
    Member
    1018 posts
    Bumble bee

    @howsweetitis:  I considered it as in I was thinking of an out-of-state school which is like triple the tuition. But I went to my state school and it’s a good one. I didn’t consider private schools at the time and I didn’t think they’d be worth the extra cost for my degree. (No offense to anyone who went to a private school, it just wouldn’t have been for me)

    Post # 5
    Member
    6812 posts
    Busy Beekeeper
    • Wedding: June 2014

    I didn’t consider it I didn’t know any better and I really wish I had! 

    Post # 6
    Member
    4540 posts
    Honey bee
    • Wedding: May 2014 - Royalton White Sands

    I definitely considered it a lot. In high school, I earned a scholarship from my GPA, but it only applies to public schools in Georgia. I grew up less than 20 minutes from one of the top 5 schools here, and my parents were willing to let me live at home for free and pay the small amount that my scholarship didn’t cover, so it was an obvious choice. 

    I really, really, really wanted to go to Auburn but in the end, out of state tuition + living expenses + no scholarship was just too much, and I stayed at home and went to the school 20 minutes from my house. I did end up having to take out a loan at one point, but it was less than $5,000… nothing compared to the probably 60k+ I would’ve owed if I went to Auburn.

    Post # 7
    Member
    2783 posts
    Sugar bee

    @mepayne:  $5k and $60k can make a big difference in life….Auburn would have been so fun though!!!!

    Post # 8
    Member
    2720 posts
    Sugar bee

    @howsweetitis:  My family was poor and I was a pretty smart kid so I ended up with $2k in student loans. I wanted to be a teacher so I went to a university an hour away from home that was locally known for their teaching program. I was also anal about my finances and did not want an unmanageable amount of student loans once I got out of college. I worked part time, did not party too much but still had fun. I paid off my loans within a year of college.

    I do understand that I am the exception to the rule and most 18-22 year olds don’t think like this.

    Post # 9
    Member
    1400 posts
    Bumble bee
    • Wedding: June 2014

    I went to community college first, because I didn’t see the point in doing otherwise. I chose to not even apply to any expensive schools because I knew I wouldn’t qualify for any need-based scholarships and was too lazy for any merit-based ones. And in my field, you don’t even need to go to college. I have no regrets, college made it simple for me to move to my dream city and pursue my career, and I’m 15K in debt after getting my bachelor’s degree. Paying $192/month is a pain in the ass, but it’s doable, and at this rate it’ll be paid off in 9 years. Hopefully I start making enough money that I can pay it off sooner 🙂 Also, my loans were all federal, so they’re really not out to screw me over.

     

    Post # 10
    Member
    3222 posts
    Sugar bee
    • Wedding: April 2015

    If I lived in the US, cost would have certainly paid a large part of my decision. Where I live, undergraduate programs cost between $5500-$6500/year, so difference between institutions wouldn’t have been considerable. 

    When it came to my choice of law school, I did consider cost, but still ended up at the most expensive institution. I could have saved more than $30,000 by going to a slightly less prestigious law school, but rankings reigned supreme in my decision.

    Post # 11
    Member
    4540 posts
    Honey bee
    • Wedding: May 2014 - Royalton White Sands

    @Ninteenthchance:  Especially when you’re a teacher! $60k will be almost two years’ salary, whereas I’ll be able to pay off my $5k in a couple years max if I budget right and nothing crazy happens. 

    Post # 12
    Member
    2783 posts
    Sugar bee

    @mepayne:  yeah, totally not worth it!!!! Can you imagine having to pay student loans for 30 years like some people!!!! A friend of mine HAS to pay almost $900 a month in student loans because she has so much debt. That’s rent somewhere!

    Post # 13
    Member
    9226 posts
    Buzzing Beekeeper
    • Wedding: May 2018

    Honestly no I didn’t consider it, as I believe the costs are around the same for most universities here. TAFE is of course a lot cheaper. I chose the university because I love it, and the past 3/4 generations of my family went there. My parents are not helping with tuition, HECS-HELP is covering my portion of it (it is a loan system, where you start paying back when you reach a certain income level), but instead of paying my tuition my parents are buying me shares to an equal value of my tuition. They thought that that would be a better thing for me, so I have some stable investments for the future, and can use as collateral maybe when buying a house down the line.

    Post # 14
    Member
    1599 posts
    Bumble bee
    • Wedding: October 2013

    i went to a school I hated because it was the cheapest.  I got into a few private schools and one ivy league, but opted not to go because my mom is dirt poor and my father (who claimed me as a dependant even though he did not pay child support) made too much and eliminated me from being able to receive financial aid.

     

    I don’t regret my decision. At the time I was resentful, but now that I have no loans from undergrad (and only a bit from a secondary degree) I am SO happy that I made the decision that I did. The field thagt I’m doesn’t require a crazy degree, and I’ve done fine throughout my career on my ability, merits and work ethic without a fancy school.  I, too, have tons of friends bitching about their 150k in loans for their BA in History…I’m so glad not to be in that position.

    Post # 15
    Member
    1468 posts
    Bumble bee
    • Wedding: October 2012

    When I went to college back in the 80s the cost of college was not crazy expensive like it is now so I gave no thought to where I would go.  I’m sure if I was going now I wouldn’t even consider going out of state like I did.

    Post # 16
    Member
    708 posts
    Busy bee
    • Wedding: June 2014

    I didn’t consider loans/debt at all and now I’m sorry that I didn’t. I went to an out of state school (Purdue) my freshman year, and then transferred to an in state (but still expensive) school sophomore-senior year (Univerity of Illinois).

    luckily my mom is paying for my 1st 2 years of school and I’m responsible for the last 2….still about $40K of debt though.

    Whyyyyy didnt anyone tell me how stupid I was being?!

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