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My sister is determined to go to Columbia...

S

Shyatic

Platinum Member
I have been trying to explain to my sister the cost vs benefit of going to a college like Columbia. I made the horrible mistake of picking a school with a good name and huge price tag, undertook thousands in loans that I will be paying back for a LONG time, to little benefit. I went to Seton Hall University, and racked up almost $50,000 in loans, and that's WITH a partial scholarship/financial aid/etc.

Looking back, I had a near full ride to Rutgers and now that I've seen the caliber of teachers at both universities and there's little different -- it's usually how the student takes to learning that makes the education or not. Besides Rutgers has a great on-campus life as well as great facilities. And it's a good school by rating too! Better than Seton Hall was anyways. It makes me really regret not going that route and now being debt free.

My sister is attending Rutgers now -- busting her butt to get 4.0s every semester for two years so she can apply to Columbia. I told her if she can go nearly for free, then do it, else it's NOT worth it. The job market can't guarantee you anything and the smartest move is to go to the best college that doesn't put you into severe debt afterwards, because if the economy is in the toilet when you graduate, there's not much you can do about it -- and the loans are going to be waiting for payments.

Anyways, the long and short of this is... how can I tell my sister to be realistic and not make the same mistakes I made? There are no guarantees in life but if she comes out of school with a good GPA, debt free, she at least won't be any worse off than when she started.

Thanks!
 
let her learn on her own. I have lots of loans during school now. Now that I look back, I wish that I'd have just went to Umass Lowell and tried to find coops on my own.
 
I could've gone to a state school like UVM for almost nothing, instead I went to a private college that touted their high placement rate for grads, turned out to not be worth what I paid.
 
if she can get 4.0 every semester, she can get grants and scholarships
money, of course, is important... but that shouldnt be the deciding factor on where she spends years of her life
 
Originally posted by: Sphexi
I could've gone to a state school like UVM for almost nothing, instead I went to a private college that touted their high placement rate for grads, turned out to not be worth what I paid.
Click to expand...

Ditto that... I just don't want to see her make the same mistakes. It's why I am still living at home because I COULD move out, but I wouldn't be saving a goddamned dime. I am paying off the principle of the loan (before interest accrues) as much as I can for the next two years and trying to put $1000 a month away in savings. Come July that will jump to $1500-1700 because I'm getting rid of my leased car. But if I moved out, in Jersey a decent place is like $800 and that's in a crappy town... so I think I'm making the right choice, but that $600 a month I spend on school loans takes a signifigant dent out of any money I could have. And I'll be paying it back for like 20 years 🙁
 
Or go to a school like Princeton Univ. (if you can get in). Low income students go for free/or next to nothing. So you get a great education while paying less than a subsidized state school. Plus you can graduate with no loans.

You won't get into any of the ritzy eating clubs which have minimum income requirements, and you probably won't be as well dressed as some of the old money legacy but its a good option for poor families to send thier kids to.
 
yeah.. my wife went to a private university.. racked up alot of debt then:

1) married me
2) had kid
3) quit work
4) now i'm paying her loan off
 
I am normally an advocate of letting people do whatever they feel on a whim. But when it comes to looking out for a friend/family member who doesn't know better, I say step in. Kids don't realize the size of the financial burden you described. A good state college is just as good for a student who wants to learn and it is much cheaper. Give all the advice you can.
 
Originally posted by: robphelan
yeah.. my wife went to a private university.. racked up alot of debt then:

1) married me
2) had kid
3) quit work
4) now i'm paying her loan off
Click to expand...
Totally served. 😀
 
My brother is the same... he's going to Lehigh, which is close to $40k/year after all costs. He could get just as good an education at Rutgers and it wouldn't cost him nearly as much. And I think he'd have better opportunities.
 
Originally posted by: Scribe
Originally posted by: oboeguy
Columbia >> Seton Hall, Rutgers.
Click to expand...

Yup... but she won't get a job that pays SO much more to make up the difference of $$$.
Click to expand...

I think it depends on what she's majoring in. If it's something like pre-business, then going to Columbia >> going to Seton Hall and getting a degree from there will pay for itself.
 
Flights into Bogota are rather cheap this time of the year. Just make sure she brings back some good Columbian coffee when she returns. Just hope her flight doesn't get shot down!
 
Originally posted by: McPhreak
Originally posted by: Scribe
Originally posted by: oboeguy
Columbia >> Seton Hall, Rutgers.
Click to expand...

Yup... but she won't get a job that pays SO much more to make up the difference of $$$.
Click to expand...

I think it depends on what she's majoring in. If it's something like pre-business, then going to Columbia >> going to Seton Hall and getting a degree from there will pay for itself.
Click to expand...

What's more it's not all about the job. A Top College(TM) generally has better students, better professors (not necessarily better teachers, mind you), better connections, better cachet, etc.

OTOH, there's something to be said about a full-ride at a lesser college.
 
Originally posted by: oboeguy
Originally posted by: McPhreak
Originally posted by: Scribe
Originally posted by: oboeguy
Columbia >> Seton Hall, Rutgers.
Click to expand...

Yup... but she won't get a job that pays SO much more to make up the difference of $$$.
Click to expand...

I think it depends on what she's majoring in. If it's something like pre-business, then going to Columbia >> going to Seton Hall and getting a degree from there will pay for itself.
Click to expand...

What's more it's not all about the job. A Top College(TM) generally has better students, better professors (not necessarily better teachers, mind you), better connections, better cachet, etc.

OTOH, there's something to be said about a full-ride at a lesser college.
Click to expand...
Thing is though... Rutgers is near Ivy League (it WAS at one point!). It's one of the best state schools in the country -- better than Seton Hall who supposedly has 'lots of connections'. I just don't see how for an undergraduate, that they will make $50k more than a graduate from Rutgers to make up for the difference. Even 10K more is a stretch.
 
First of all, Columbia >>>> Rutgers, Seton Hall (no offense)
Secondly, the difference comes from networking - networking through an Ivy League in NYC is like free job referrals everywhere you go. Same for NYU. That's what it's really all about. Rutgers won't provide you with anything near the sort of job opportunities you get from a NYC school.
 
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