Is $120,000 too much money to pay for my undergraduate degree?

My daughter is entering her third year at a private college, Beloit. Tuition this year is $35,000, so I am VERY aware of your concerns. We did not qualify for need-based aid, but she has a small grant and an on-campus job.

I believe that you are entitled to the education you desire and deserve. UC is an awesome school, and your education will be worth the expense.

That said, you do need more $$$. Were you approved for Stafford loans? If so, consider taking those. The interest rates are lower that anything else you will find. You can also ask your parents to take out a PLUS loan. Those have to be in the parents’ name, and repayment starts 6 months after the first disbursement. The interest rate currently is around 8.7% I think.

Also, talk with the financial aid advisors. Explain your situation. Maybe you could get an on campus job to help with tuition.

Do you live in the Chicago area? If so, consider commuting instead of living on campus in order to save some money.

Good luck!

Is this too much, well, in the scheme of things,no. The average 4 year private college is $40,000 a year. If this is what you want, you will do what you have to do to get it . Let the financial aid office become your best friend. Also, look for scholarships and follow through with them. You can find some substantial money out there if you are willing to follow through. You will either need to have your parents take a PLUS loan or you will have to take an Alternative loan ( with a co-signer). Just make sure you borrow prudently and take advantage of everything out there ( work study, etc).

This is just my opinion, but you would be incredibly deep in debt just from your undergraduate degree. I wonder if that would affect your ability to continue on to graduate school with that much debt. You will continue to incur even more educational loan debt from graduate school/med school, and by the time you finish all your training, the amount of money you owe would be enormous.

I would recommend that you explore other avenues of earning your undergrad degree, i.e., state-support college/university, and come out far cheaper.

Don’t burden yourself any more than absolutely necessary; as a young person, you don’t want to be so heavily weighed down that you won’t be able to support your current expenses throughout your young years.

Good luck and I wish you the best in all your endeavors.

Yes!!! It is obviously too much money! Think about how long it would take you to save that kind of money after you become a surgeon. If you are a genius and people call you smart a lot and you could handle the stress, go for it! But most people cant do it. If you are EXTREMELY SMART you can double up and finish your degree 1 year or two earlier which will save you a ton.

IMHO this cannot be determined! You are NOT asking about a double major? It really depends on the goal, want to enter a graduate program in engineering and only have a teaching degree, for example. Maybe?!?! THe only time I have seen in benefit some one is when they have a BofSci in applied tech, then returned to get a BoSci in Engineering in the same field, just so he could go to grad school in engineering I guess he had the wrong Bacelor’s to start with! hope this helped!

Congratulations on getting accepted to the University of Chicago! $120,000 is a lot of money. You must be from out of state.

If your parents are supportive and you know that you can do the work to make yourself and your parents proud, then it’s absolutely worth it.

Good luck to you!

Well, if it is your dream school, go for it. But I personally would not want to be burdened with loans, which is why I chose my public in-state school that also gave me some scholarship money. Going to grad school (especially medical school) will cause you to get more student debt. I wonder how you will pay all of this off?

If you’re going to make enough money once you’re done, go for it. But don’t pay that much if you’re going to be a teacher or something.

YES!!!!!!!

Go to a community college for two years.

If you stop writing “like” so much, the reviewers will be more sympatheic towards you.