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School Debt
By admin | May 30, 2008
I received a question earlier this week that I wanted to share my thoughts on here:
Question: I am currently in college and would like to transfer to a different school that offers the major that I am interested in. The school that I am looking at is very prestigious and will cause me to increase my student loan debt in the amount of around $100,000 by the time I graduate. I feel school is important and think this is worth it.
My thoughts:
The way I answer questions is what would I do if I were in your shoes. I do not feel comfortable believing that one school is worth $100,000 more than another. Unless I had that money lying around I would not go to that other school for one simple reason - I can’t afford it.
The other thing as far as your major goes, I can understand your rationale. The average college students changes their major 3 times. So if you have gone through the motions and feel you’ve landed on “the one” then I know many who have had to transfer schools in order to make this happen. However, going to a school that is six-figures is not your only option to study that major and it is very important to understand that.
As a matter of fact, if I ran a business and I was hiring people, where they went to school would be a small indicator of the person. I am not looking to have a country club for my business. Side note for hiring people, my simple tag-line is ‘they have to make me more money than they cost me.’
I promise you it is not what school you go to that makes you valuable in the marketplace. It is simply what you learn and then being able to apply that knowledge. This is what is so valuable.
So to answer you question I wouldn’t do it for one basic reason - I can’t afford it. Walking out of school with a six-figure debt hanging around you would be a burden not easily shaken off.
Topics: Debt |
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