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College/Did you take out a loan?

Yes
 
80% (12 votes)
No
 
20% (3 votes)

College/Did you take out a loan?

posted 28th Jan
Did you take out a loan for your college education?

I'm finishing up my Associates degree debt free but now debating on two colleges for my Bachelors degree.

One is a small college that most employers don't know but I would be able to complete the BA almost debt free except for taking out a loan for maybe $2,000.

The other is a popular and great university that most employers have heard of and respect but it's looking like even with scholarships and grants I will have to take out $9,000-10,000 for the entire degree.

Which would you do? I want to go to the great University and I've been accepted and will get grants and scholarships but the thought of taking out a loan makes cringe...auuugh!!!

Did you take out a loan for your education? (And if you don't mind me asking, how much was it for and how did you feel about doing it. Is it normal to be this nervous about it? lol.)  
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I have 1 child & live in Germany
posted 28th Jan
can you get the Pell Grant?
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I have 2 kids & live in Arkansas
posted 28th Jan
Quoting dbailey:" can you get the Pell Grant?"
The $9,000 is what I would have to take out in a loan after the Pell Grant AND SEOG grant PLUS scholarships. Most people take out $25,000 for their BA from this school after all their Grants and such which I suppose means i should be pretty happy it only will be $9,000-10,000 but it still makes me cringe.  
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I have 1 child & live in Germany
posted 28th Jan
Yes, and I got max pell grant. I went to a university and total for the school year was $17k. I got $5500 with the pell grant, a few state grants, and the rest was loans. I went for 1.5 years and have about $10k in loans.

I don't think universities are all they're cracked up to be. Bigger classes, less one-on-one time with the professor, and a nuisance to get to classes since campuses are so big. If I do go back... I'd either do online or a community college. Way cheaper, and the same education.
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I'm TTC since November '12, have 2 angel babies & live in Cleves, Ohio
posted 28th Jan
Id go to the better one. It will be worth it in the long run. I didnt take out a loan for college, I finished my BA last year
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I have 2 angel babies & live in California
posted 28th Jan
10000 is still a pretty small loan. Id personally go for the larger well known one. I'll be graduating with 20k in debt and that's less than many of my classmates. I should mention though that I didn't receive any grants etc my first few years because I didn't have a child and so it was based off my parents income
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I have 1 child & live in Minnesota
posted 28th Jan
I went to a private college for 4 years and owed $21K when all was said and done. Mostly subsidized Stafford loans and a small one through the school. I graduated in 2002 and am still paying on it, I owe about 4K. I have a friend who is a dentist and he owes 220K...I don't think he will ever pay it completely off...
It is a big decision, but a lot of people have to do it, and if you pay more than the minimum you will pay it off faster.
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I'm due May 30th (a girl), have 2 kids & live in Aberdeen, Maryland
posted 29th Jan
Thank god education is free in Germany!!
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I have 1 child & live in Germany
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