Should I take out a loan?

2

Comments

  • Reply 21 of 45
    escherescher Posts: 1,811member
    Quote:

    Originally posted by job

    There is no question in my mind that I want to go to grad school. I think a graduate degree from Harvard would be far better than an undergrad degree.



    job: My initial reaction would be to pick Harvard. Your outlook may change in four years of college. I would have found it impossible to see that far ahead at your stage in life. (E.g. I never imagined that I would marry an American and stay in this country, even less end up in DC.) There's also no guarantee that you'll do well enough at Denison to get into an internationally recognized school like Harvard or Chicago for graduate studies.



    Name recognition is especially important and useful in an international field. Case in point: I grew up in Switzerland, but chose to attend college in the US. I didn't get into Harvard (and persuaded myself that it was a snotty place anyway) and went to Amherst College in Massachusetts instead. Some Americans will recognize it as a good school. But as far as my European family is concerned, I might as well have gone to East Bumble**** State College.



    On the other hand, if you don't work hard (and get good grades), the name recognition of a big school alone will do you little good. Quality of life is also an important consideration. Avoiding debt will undoubtedly improve your quality of life.



    Another point: Consider starting out at Denison on a full ride. If you like it there, by all means stay. If you don't like it and regret your decision after a year, you can always re-apply to the Ivy League schools and transfer. Even if you only do your Freshman year for free, you'll save a full year's tuition at a fancier school.



    Finally, a cheesy general point: It's not where you go that matters. It's what you make of it. You can change the world from a small unknown school. You can be an unhappy, miserable failure even if you go to Harvard. It's all up to you.



    Escher
  • Reply 22 of 45
    escherescher Posts: 1,811member
    Quote:

    Originally posted by BR

    Lies. I'm finishing my MBA in June and starting over on a new undergrad degree in the fall.



    Hope you didn't spend too much money on your MBA and don't have a lot of debt (or have an alternate source of income).



    Escher
  • Reply 23 of 45
    brbr Posts: 8,395member
    Quote:

    Originally posted by Escher

    Hope you didn't spend too much money on your MBA and don't have a lot of debt (or have an alternate source of income).



    Escher




    I'm just lucky that I have really supportive parents.
  • Reply 24 of 45
    tmptmp Posts: 601member
    I was really annoyed that I couldn't go to Harvard because of the money issue and was forced to go to UMass. As it turned out, it was the best thing for me not to have the huge amount of debt.



    Even if you wanted to be a doctor or lawyer, I'd say do the graduate portion there. There's useful networking there, but it's not a guarantee. At 150k for four years, I'd want a guarantee.



    Escher- I took most of my classes at Amherst (and Smith). Albert Grimaldi (Prince of Monaco) was there at the same time. Now, I don't know if he's considered a great brain trust in Yuurp, but they wouldn't be sending him to bumble**** U. Even if they had to buy Amherst a building to do it.
  • Reply 25 of 45
    billybobskybillybobsky Posts: 1,914member
    I went to swarthmore and while it may not be as well known as harvard is in the general population, it has (like amherst) a network among the better academic institutions in the country. you should be going to a school where you get the absolute best education for yourself...
  • Reply 26 of 45
    dogcowdogcow Posts: 713member
    Debt = bad.



    Personally, I took the free option. I didn't really want to go to BC, but my mother works here so I basically pay nothing. Looking back it was probably the best decision I could have made. Having your mother work at your school has it's pluses and minuses. Coming out debt free is is a huge plus. Plus it's just undergrad, just about anywhere you go is going to be fine. The Harvard "Brand" is so overrated. Employers are going to look at you as a person, not what's printed above your name on a diploma.
  • Reply 27 of 45
    bungebunge Posts: 7,329member
    Undergrad isn't worth debt. Take that $30,000 and go to live overseas for a year or more after you graduate.
  • Reply 28 of 45
    progmacprogmac Posts: 1,850member
    why is denison the only other school you are considering?



    what about cornell, univ. of pennsylvania, or northwestern?



    swathmore or notre dame? how about one of the many fine public universities? University of Cincinnati, for example, has been ranked to have the best architecture and interior design programs in the country.



    don't limit yourself
  • Reply 29 of 45
    escherescher Posts: 1,811member
    Quote:

    Originally posted by tmp

    Escher- I took most of my classes at Amherst (and Smith). Albert Grimaldi (Prince of Monaco) was there at the same time. Now, I don't know if he's considered a great brain trust in Yuurp, but they wouldn't be sending him to bumble**** U. Even if they had to buy Amherst a building to do it.



    tmp: Glad to hear that you took full advantage of the 5 college consortium. I regret not taking a single class at one of the other schools. It would have gotten me out of my little bubble.



    I have to admit that I don't know how Prince Albert did as a student. My hunch is that he went to a small rural liberal arts college to retain some anonymity and to avoid mixing with the Euro Trash that has a tendency to pick Ivy League schools. But the special suite with its own bathroom (with a tub!) that they arranged for him was still there when I attended. Friends of mine lived in it during Freshman year.



    BTW: This comment is somewhat relevant to job's dilemma. After tiny Amherst, Prince Albert went to big-time Harvard Law. I'm sure name-recognition ("Prince of Monaco") helped him get in, but he couldn't have been a complete dud either. I actually passed through Monaco last summer, and it's obvious that his family background has been more important than his education in making him a bazillionaire real estate developer (on top of his princely role). I don't think he learned to build condos into the sea in school.



    Escher
  • Reply 30 of 45
    jobjob Posts: 420member
    Quote:

    Originally posted by progmac

    why is denison the only other school you are considering?



    what about cornell, univ. of pennsylvania, or northwestern?



    swathmore or notre dame? how about one of the many fine public universities? University of Cincinnati, for example, has been ranked to have the best architecture and interior design programs in the country.



    don't limit yourself




    The five universities I mentioned are the ones I've been accepted to.



    I considered others during the application process, I just didn't get in.



    I forgot to mention that the scholarship is every year so 4*30,000.
  • Reply 31 of 45
    splinemodelsplinemodel Posts: 7,311member
    Go to Dartmouth.



    Trust me, you'll be glad you did. PM me or send email. I'll be happy to chat. The bottom line is that you'll make connections you otherwise wouldn't make at a place like Dartmouth, and in the end these will more than make up for your debt, financially and spiritually.



    If you got into Dartmouth, Hahvhad, and UFC, I'm going to go ahead and tell you that you're not going to get much out of Denison. Perhaps you can get as much out of it academically: let's just consider that to be the case even if it may not be. College is more than just academics. I think you'll meet many inspiring and interesting people at Dartmouth or Harvard, and I can't speak for UFC.



    Otherwise, Harvard sucks. It's a dreadful place, aside from the fact that Boston is fun. . . Beat their rugby team this weekend as well. . . no.2 in the nation my ass. . .



    Should've applied to P-town though. they give out grants instead of loans.
  • Reply 32 of 45
    scottscott Posts: 7,431member
    Yea those are some good schools you're naming there job. Taking out a loan is not inherently a bad thing. It depends on what you're going to get out of it. If you feel one of those three schools is right for you need to consider it seriously.



    Have you been to UofC? I used to live in Chicago and ... UofC It takes a special person to enjoy that school.
  • Reply 33 of 45
    billybobskybillybobsky Posts: 1,914member
    *special* or "special"?
  • Reply 34 of 45
    spcmsspcms Posts: 407member
    In Belgium college education costs $500/year. At every university. And maybe another $500/year for study material. Imagine that.
  • Reply 35 of 45
    billybobskybillybobsky Posts: 1,914member
    *damn socialist countries*



    kidding...



    College means very different things in the US than in most other parts of the world...
  • Reply 36 of 45
    spcmsspcms Posts: 407member
    Quote:

    Originally posted by billybobsky

    *damn socialist countries*



    kidding...



    College means very different things in the US than in most other parts of the world...




    Well, i meant university. Highschool (what we call college) is actually free, except for some course material.
  • Reply 37 of 45
    scottscott Posts: 7,431member
    Does anyone in Belgium ever go outside the system or the country for education?
  • Reply 38 of 45
    progmacprogmac Posts: 1,850member
    Quote:

    Originally posted by Scott

    Does anyone in Belgium ever go outside the system or the country for education?



    I had a good belgian friend who studied urban design at u. of cinci with me for 10 weeks. some sort of exchange deal. that doesn't count now that i think about it. move on, nothing here
  • Reply 39 of 45
    carol acarol a Posts: 1,043member
    Quote:

    Originally posted by billybobsky



    College means very different things in the US than in most other parts of the world...




    In what way do you mean that, Billybobsky?



    I'd be interested in hearing you expand on that idea.



    Thanks.
  • Reply 40 of 45
    carol acarol a Posts: 1,043member
    Quote:

    Originally posted by Splinemodel

    Go to Dartmouth.



    Trust me, you'll be glad you did. PM me or send email. I'll be happy to chat. The bottom line is that you'll make connections you otherwise wouldn't make at a place like Dartmouth, and in the end these will more than make up for your debt, financially and spiritually.





    Hi Splinemodel -



    Well, I argued the same as you in my earlier post. But I've been thinking about it. The thing is, if he were going into the business world, then meeting the 'right' people at Harvard or Dartmouth *might* more than make up for his $200,000 debt.



    But if he is going to work for the State Department, making connections at Harvard or Dartmouth would not 'necessarily' help much financially. Those connections 'could' help him advance a bit faster in the govt. service, but he will still be a federal employee on the govt. salary schedules. Not much leeway there financially, no matter 'who' your friends are. However, knowing the right people in the *business* world could be worth millions financially. Would you agree?



    Spiritually? In what way?
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