Dream School + triple the debt, or Safety School?

[Diverchica]

I either have the choice of attending my dream school/program (Duke coastal management) but with only a small amount of funding (total debt approx $45,000) or I can choose a program that I am not as passionate about (NCSU Forestry) and only go into approx $11,000 in debt (no funding offered, but i'm in state).

Basically, its like, go to my dream school and study the ocean which is my topic of choice and go triple the debt

or go to a good program, studying something I'm decently enthusiastic about, and greatly decrease my debt.

What would you do?

[fadeindreams]

What sort of job prospects do you have after obtaining the degree? Seems that the two would lead to very different careers...

I would take the debt. Really $45k is manageable and not really that significant if you get a good job out of it, academia or otherwise.

[JustChill]

I'd follow my dreams. These don't sound like they're preparing you for an academic position, so I'd think that a Duke degree in the "real world" would get you a pretty nice salary, so you'd be able to pay off your debts.

[copasetic]

I would absolutely take the debt at my dream school. It's an amazing thing to study what you love, and I'd hate to graduate with even only $11k in debt if I knew I didn't want the degree in the first place.

[monkeefugg]

Dream School

[herself the elf]

Dreams!

1. It's your dream, there is a certain amount of pricelessness to that.

2. It really isn't a huge amount of debt.

3. You'll happily pay it off, because you will feel like it is worth every penny.

4. You'll be so passionate about it, I'm sure you will do great research and get additional research grants, etc., along the way which will help pay it off.

5. Consider asking the school for more money, I don't think asking can hurt you.

Congratulations, and good luck!

[Jae B.]

Judging from your username, icon, and your "Marine Science / Policy" program emphasis, I'd say you might need to go for the dream school! If I were you, I probably wouldn't have applied to the other program, to avoid making a choice I might regret between what I really want to do and what seems most practical.

But I agree with Andie; going into $11,000 debt for a second choice program may not really be so practical.

An important factor is how positive you are that a career is waiting for you at the end of your graduate study, to help you pay that debt down and still have a decent amount of cash to cope with the cost of living where you plan to be. (In my case, employment is a rocky landscape with low wages, so I am not going to pick a school that puts me deep in debt.)

Could you appeal for more financial aid -- if not now, in the future? Are there other potential sources of funding for you, like fellowships, awards or work study, that could decrease your debt while you are in school? If you choose to go for the $45,000 in debt, then making a personal commitment to seize every opportunity to size that debt down as quickly as possible might make you feel better about your choice.

Edited March 11, 2010 by Jae B.

[Diverchica]

Thank you all so much for the reply!

I definitely think I would regret not going to my dream school

Good luck to all of you!

[ootg]

Would agree with all the people who said to follow your dreams. The difference is about $34k, which is not so much, if spread over a few years of payments. Think about it, you can be happy, working to pay off your debt, or not really happy, and still paying a smaller debt...

[Tiglath-Pileser III]

I agree that $45K total debt isn't that much. In that case, I would take the dream school. But if it was much more than that, I would take the funded school.

[kobe36]

agree with everyone else. I would definitely take the dream school. At least u will be happy paying your debt, than be miserable and always wondering what if??

[pea-jay]

I worry about this too. All things being equal, i'd prefer to go to NYU. But at up to $64K for the program total, da-yum that is an eye-popper especially compared to the much cheaper CUNY school. Do the math first. Maybe do a comparison list of pros and cons.

Or just go with your gut feelings...

[ScreamingHairyArmadillo]

I vote dream school! However, what's the potential word on UNC?

[Lantern]

I agree with everyone else - dream school. I may be biased because I am also in the marine science field (marine fisheries), and to think about going into forestry is just so very different!

To emphasize what someone else said, you can always look for more funding later. Apply for fellowships, etc.

Good luck!

[Diverchica]

Lantern, nice to meet someone else in the field! I want to do fisheries work too! have you decided where you're going?

Armadillo, I'm having issues with UNC. As of Feb, he said my app was on hold while he looks for funding. I shot him an email last week telling him I had other offers and wanted to know if anything was int he works, and he hasn't responded......... not sure what to do on that one!

[fadeindreams]

Lantern, nice to meet someone else in the field! I want to do fisheries work too! have you decided where you're going?

Armadillo, I'm having issues with UNC. As of Feb, he said my app was on hold while he looks for funding. I shot him an email last week telling him I had other offers and wanted to know if anything was int he works, and he hasn't responded......... not sure what to do on that one!

When a tactful email doesn't work I suggest a tactful phone call. Call their departmental secretary, not them directly.

[captiv8ed]

I don't know, I am more cautious. Have you visited UNC? If it were me, I would look into it and really really try to make it fit. If not, go for the dream.

[mudlark]

Neither. Reapply and hope to get full funding at a middle-ground school in the future.

[Diverchica]

Mudlark,

I would, but my husband's in the army, and we only have 3 years in NC before we are re-located to anywhere else in the country.... so i'm trying to take advantage of the coastal situation!