Are student loans worth it???

Published

Hi! I'm a high school junior and am considering all of my options for college. I'm planning on getting my BSN. I've been dreaming about going to an amazing four year private Christian University in another state, but I've realized my family can't afford that. I have over a 4.0 GPA and have worked my booty off in high school. I feel like it would be disappointing to go to a community college and transfer. I've always wanted to go away and experience life somewhere new. Where I live the people who go to the community college never leave the local area. Although I live in a lovely area, I have always wanted to go out of state to college. I would really appreciate hearing any personal experiences anyone has with this! Are the student loans worth it? Did you pay them off quickly? Is the "college experience" all it's cracked up to be?

Thank you for reading!!

Up Vote Up Vote ×

With my first degree, I wanted to get out of my area too and be out on my own. I went to a smaller state university and I really enjoyed it. I think it helped me to grow and become more independent. I'm not sure I would have grown in the same ways if I had went to the university an hour away or to the community college.

However, I had quite a few scholarships and was offered a full tuition scholarship at that university. Between that, my part time job, financial aid, and just budgeting, I think I graduated with more money than I started with. That experience was great but wouldn't have been worth 50k+ that some of these private colleges (or out of state colleges in general) will end up costing. My thought is that's years of your life you will have to spend paying large payments every month for the same education you could have gotten for a fraction of the cost. That's sacrificing vacations, outings with friends, food that isn't ramen, a social life, etc for years for an experience that lasts only a short time. Some people are still paying off debt 10 and 15 years later.

So my advise is if you really don't want to go to a community college, look into your state colleges. You can get independence and the college experience without going out of state and without paying enormous prices. If you take out loans, always try to minimize them as much as possible so you have the least amount to pay back. Focus on scholarships and grants as much as you can to reduce your financial burden.

Though I don't think there is anything wrong or lesser about going to the community college first if that's best for you financially. It's certainly the most financially smart choice, and I wouldn't knock anyone who did it that way. It's what I did now that I'm going back for a BSN.

Up Vote Up Vote ×
Specializes in NICU.

I would do your prerequisites at the community college (save a lot of money on tuition) and then transfer to a university for nursing school.

Up Vote Up Vote ×

It can't hurt to apply to your preferred program and see what kind of financial aid/scholarship package they offer you. Sometimes, for some people, cushy private schools end up being cheaper to attend than public schools because of the financial aid packages. I wouldn't eliminate any possibilities without investigating first (including other options besides the one private school and your local community college). Best wishes!

Up Vote Up Vote ×

I agree with previous posters - don't limit yourself to "either" the private school "or" the community college. There are many other options you can consider to get the experience you're looking for. DEFINITELY look into scholarships at your dream school, call and speak with the admissions people and the financial aid office. You have a great GPA and good chance of getting some scholarships! Also look at some of those "scholarship" websites...worth a try to get some extra $$.

Also, as idkmybffjill said, state schools are great. Often surrounding states have "exchange" programs where students from nearby states can qualify for in state tuition, such as in Arkansas, you can qualify for in state if you live in Kansas, etc. You could also look into "residency" requirements of an out of state "state" school. Sometimes if you can claim residency for one year, you can qualify for in-state tuition the rest of your school career. There are many options!! Your school counselor is also a great resource to talk about some of the opportunities in your area. Good luck!

Up Vote Up Vote ×
Specializes in Nursing Professional Development.

You've gotten some good advice from the previous responders. You have a lot of options. I can understand wanting that classic "college experience" of living on campus in a dorm, etc. I had it and loved it. But there are lots of different ways to get that experience. Don't set your heart on just one way and ignore the others. Most states have several state-supported colleges that would be cheaper than going out of state to a private school.

But don't write-off the out-of-state private school. As one poster said, a lot of the most expensive programs offer the most financial aid. Apply for every scholarship/financial aid program you can -- and see what the offer you before making a final decision.

As a general rule, many financial experts that your total amount of student loans when you graduate should be less than your income that you will make in the first year after you graduate. Calculate how big your total loan will be for each option as you make your decision.

Up Vote Up Vote ×

Hey, I am a junior in college at an out of state private christian university and I can assure you: the college experience is worth it! From the first year I was here, I made friends that I know will last a lifetime. One of them was even my maid of honor at my wedding. If Christian values are important to you then Christian colleges are the best place to be. Sure, it's a "bubble" and it's certainly not the real world to be surrounded by so many like-minded individuals but you have your whole life to live in the "real world." Don't start now if you don't have to! Going to required bible classes taught me so much depth and background and daily chapel has gotten me connected to a great network of friends. My school offers Spanish chapel, science and faith chapel, and even yoga chapel!

That being said... loans. Student loans are awful and I strongly urge you to avoid them at all costs. My dream school was a private christian school that would cost $73,000 a year! By the time graduation rolls around, that's nearly 300K. That's like a house and a half! I knew that no matter how much I liked this school in theory, there was no way I could justify being in that much debt. So as a senior in high school I did a lot of research on Christian colleges across the US and I found one that was much more affordable. On top of that, they offered me scholarships that covered more than half of the tuition costs. My first year, I took out loans but as I continued through school I became an RA and didn't have to pay for housing. At this point, I pay maybe 4000 annually (which can be made in a single summer). During school I paid my loans piece by piece and at this point I can proudly say I am DEBT FREE! I will never take out another student loan again. This school was not originally my "dream school" but looking back, I wouldn't have it any other way.

My advice to you would be to keep looking for schools. I have met so few people that legitimately hated their college experience (tbh I can't think of any right now). No matter what, you will most likely love the college you choose, you will love the friends you make there, and you probably won't even think about what your life would be like if you chose differently. What you may regret is paying for it 10 years later. There are so many scholarships out there and there are grants (the full Pell Grant is about 6000 I think). Look for abilities to save more money once you get to school (eg living off campus, becoming an RA, work-study etc). Overall, if you're willing to make some minor compromises, you can definitely have your cake and eat it too!

Up Vote Up Vote ×
Specializes in Neonatal Nurse Practitioner.

Community college or public university somewhere else and cheaper?

Up Vote Up Vote ×
Specializes in Psychiatry.

College life is fun and a wonderful experience and if that's what you want, then go for it but....

have you considered how you will pay back your student loans? Unless you're going to become a superstar with all the money in the world, your dream job probably will not help you pay off your loans in this lifetime so don't go somewhere fancy if you don't have the money. Think about your credit score. If it's ruined by debt, then you may not get the independence you'd like.

Consider an instate college, apply for scholarships. With a 4.0, i'm sure there are many opportunities. Talk to a guidance counselor.

As far as community college is concerned, it's cheaper and if you have a goal in mind, you can leave on time. If you're undecided for example, community college is a great place to go, however, if you know what you want and have a career in mind, then you'll be there for a reasonable amount of time.

If you do go to a state university, I suggest you enroll in a community college for summer or winter classes that way you can graduate a bit quicker and save a little as well.

Up Vote Up Vote ×
Specializes in MICU RN.

Depending where you live, many states have fabulous 4 year public universities. Why only consider CC's and private 4 year colleges?

But to answer your question, the college experience is definitely worth it and a life experience/full of personal growth. I ended up going to a university at the other end of the state, a good 6 hour distance between me and my family was well appreciated :))

Up Vote Up Vote ×

No. I truly wish I hadn't gone to "fancy" schools that had such high tuition. I understand needing small loans for community college or state universities, but in the end, you are taking the same NCLEX. Not worth the extra money.

Up Vote Up Vote ×
I've been dreaming about going to an amazing four year private Christian University in another state, but I've realized my family can't afford that.

As someone who works in academia - go with what you can afford.

I have over a 4.0 GPA and have worked my booty off in high school. I feel like it would be disappointing to go to a community college and transfer.

Why would it be disappointing? Community colleges have a lot to offer and are 1/3rd of the price (sometimes even less!) than a private school for the same class.

I've always wanted to go away and experience life somewhere new. Where I live the people who go to the community college never leave the local area. Although I live in a lovely area, I have always wanted to go out of state to college.

Is the price tag actually worth that though?

Is the "college experience" all it's cracked up to be?

For some yes, for others no.

Okay, so I'm in University for the second time. My first time, I was suckered in to the whole moving out, independent, college life experience, and ultimately it added more stress. Granted, I was in England at the time so our loan system works a little differently. However, it's still incredibly costly to study.

I was already living away from my family when I started University, and I was given the option to move back in with my folks while I studied, but I refused. I wanted to be independent and live the dream.

I loved it for the first week - it was exciting, and I made sure to take part in as much as I could, but after the 2nd week, 1st month etc, I started to get worn down with the stress of having to provide for myself, make sure my bills were paid etc, earn the money to pay said bills, and fret about my loans.

I tutor and advise people at my local community college and I will always advocate getting your gen-eds out of the way there first. Some people have a change of heart as they plug away through those gen-eds, and it's totally cool to figure out that your heart lies elsewhere. I'm not saying it'll happen to you, but if it does, then you're not going to have much (if any) debt, compared to what it'd be like at the out of state college that you want to go to.

Out of state tuition is a bit of a racket too, so expect that price tag to jump :(

Now I'm back in Uni again, working on BSN (yaaaass!) and I promise you this - I wish I had the safety net of family to help ease my burden. Running a household is taxing enough; running a household while in nursing school can be brutal.

The too-long-didn't-read version:

Go for what you can afford - a credit is a credit on your transcript.

Don't take out loans if you don't have to - use time in a community college to build rapport, get a high college GPA, and earn some scholarships

The college experience isn't always worth a crazy price tag

Up Vote Up Vote ×
+ Join the Discussion