id you're going into it to be a high school teacher, go for the more affordable school.
It's not like teachers are going to earn tons of money no matter where you go to school, and with 50k+ in debt it'll take you decades to pay that back. Think about it, 50k + whatever interest you have to pay on that can be a downpayment on a house and then some, wouldn't you rather be able to afford a house once you graduate? And have a good quality of life on your teacher's salary? Because with that amount of debt, you probably won't be able to have those things.
I have friends who are that amount of money in debt from their undergrad loans, and one of them is 10 years out of college, earns 65k a year, and is still living in a tiny crappy 1 bedroom apartment in a bad neighborhood cause all her extra money goes towards paying off her loans, and she still has like decades to go. Another one is 6 years out of college and still living in his parent's basement while working full time so that he can send all his money towards his loans.
Meanwhile, I went to a lesser-ranked very cheap undergrad college and was able to work my way through it and not take out any loans, I'm starting a job this fall that pays less than my friend's jobs, and I'm going to be buying a house this summer if I can find one I like in time.
The ONLY reason it would be worth it is if you think going to the better ranked school would allow you to get a job that has a much higher salary that makes up for that amount of debt. Like at least 10k extra per year salary. Do you think that is the case?
No, definitely not. And I may or may not have to go back to school to get my certification after this (though I think I'd be able to find a way to get that paid for through a teaching program), so there's that to keep in mind as well.
thanks, i think i just needed to hear this from someone else as well :)
It's not like teachers are going to earn tons of money no matter where you go to school, and with 50k+ in debt it'll take you decades to pay that back. Think about it, 50k + whatever interest you have to pay on that can be a downpayment on a house and then some, wouldn't you rather be able to afford a house once you graduate? And have a good quality of life on your teacher's salary? Because with that amount of debt, you probably won't be able to have those things.
I have friends who are that amount of money in debt from their undergrad loans, and one of them is 10 years out of college, earns 65k a year, and is still living in a tiny crappy 1 bedroom apartment in a bad neighborhood cause all her extra money goes towards paying off her loans, and she still has like decades to go. Another one is 6 years out of college and still living in his parent's basement while working full time so that he can send all his money towards his loans.
Meanwhile, I went to a lesser-ranked very cheap undergrad college and was able to work my way through it and not take out any loans, I'm starting a job this fall that pays less than my friend's jobs, and I'm going to be buying a house this summer if I can find one I like in time.
The ONLY reason it would be worth it is if you think going to the better ranked school would allow you to get a job that has a much higher salary that makes up for that amount of debt. Like at least 10k extra per year salary. Do you think that is the case?
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thanks, i think i just needed to hear this from someone else as well :)
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