$80k In Debt Worth It for Ivy Undergrad?

[Anonymous]

OP, I remember you and responded to you in your last thread and in the anonymous email address you set up asking for further career advice. I ask this kindly: have you sought getting therapy yet? Because while the PP have good points both pro and con staying at the Ivy, I don’t think any path on the table right now (be it stay at prestigious school that makes you miserable and get $80K into debt, transfer to less prestigious state school with less/no debt, or something in between) will make you feel significantly better about yourself or your future options.

[Anonymous]

Sorry, just reread and saw you are in therapy!

[Anonymous]

You are an adult but you are not free to live your own life. Freedom comes with sacrifice. Be willing to go for broke, or conform and live only for your parents. The choice is yours, OP. How much is your freedom worth to you? I would not waste my money on an Ivy League degree, because if I was going to, I would have done it 32 years ago, when I graduated with grades high enough to get into any college of my choice. My parents didn't have to push me at all. I didn't even study and could have gone Ivy League if I had wanted to. Boring AF, college. There's a whole world of education going on, and some parents think their kids are only worth something if they have an expensive degree from a certain college, so they can brag to their friends and feel superior. But what about YOU? You have no say in your own life? I raises my children to go their own ways and to fly fast and far and free, just like I have done. I can't with controlling parents who can't think outside the box. Handicapping their kids, that's all they're doing. Most of you have zero self-confidence, because your parents tell you what to think and how to think and how much money it's going to cost you to think their way, and then they get mad if you dare to think for yourself. That's abuse, in case you didn't know.

[Anonymous]

I don’t believe you can take out $80K in loans as a student in your name. You have no assets or a job. Like others have said, you need time. Ask the ivy school for time off and hopefully, they give you are year to figure it out. Take this time to get lots of therapy and get a job to make some money. Your mental health is more important than any school or major. Best of luck, you can do this.

[Anonymous]

If you were suicidal and deeply unhappy, you should get better first. Your mental health should come first.

For your question of whether $80k in debt is worth an ivy undergrad? Absolutely worth it. If you transfer or drop out, your professional options likely not better and you may end up with similar debt and lower earning potential. Of course all this means nothing if you are suicidal.

[Anonymous]

Anonymous wrote:I don’t believe you can take out $80K in loans as a student in your name. You have no assets or a job. Like others have said, you need time. Ask the ivy school for time off and hopefully, they give you are year to figure it out. Take this time to get lots of therapy and get a job to make some money. Your mental health is more important than any school or major. Best of luck, you can do this.

OP said that her parents would co-sign on to (presumably) private loans (ie: ones from Discovery or Sallie Mae).

[Anonymous]

Not even all Ivy leagues are that prestigious. Sure going to yale might set you for life but I know people who went to Penn undergrad and do document review

[Anonymous]

Anonymous wrote:Not even all Ivy leagues are that prestigious. Sure going to yale might set you for life but I know people who went to Penn undergrad and do document review

Based on the post, it seems like OP goes to Columbia? Not worth it, their reputation is tarnished after the US News Ranking scandal.

[Anonymous]

80k is 20k a year. That's practically nothing given how expensive college is.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Any school that’s supportive and nurturing will cost just as much, with less career possibilities.
Any school that’s going to be cheaper, likely state school, will not give you the same kind of access to jobs after school. In many ways, life in your 20-35 will be just as cut throat and misery will last longer than your current situation.
If I were you, I’d take out the loan, find the easier major in your current Ivy, and get the bare minimal grade to get that degree. Then you can find an easy job and start your life. If you hate your job, who doesn’t hate their first 3-5 jobs? You hop and doors remain open if you have that degree.

+1 The warm cozy environment that OP wants sounds like a very expensive SLAC. State schools are going to be more impersonal than any ivy league school

+2. OP, unfortunately, the positive seven sisters' environment will cost just as much money (and I really really doubt anyone's giving you a scholarship at this point), and will open fewer doors for you. Suck it up and get through the degree. I think you'll probably have it even worse if you transfer.

OP here. That's what I thought too, but then I learned about these very generous scholarship programs for non-traditional transfer students:

https://www.wellesley.edu/esp/entering/davis

https://www.smith.edu/about-smith/ada-comstock-scholars-program

https://www.mtholyoke.edu/fp

I'd have to wait until I turn 24 (so three years), which is fine by me.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Any school that’s supportive and nurturing will cost just as much, with less career possibilities.
Any school that’s going to be cheaper, likely state school, will not give you the same kind of access to jobs after school. In many ways, life in your 20-35 will be just as cut throat and misery will last longer than your current situation.
If I were you, I’d take out the loan, find the easier major in your current Ivy, and get the bare minimal grade to get that degree. Then you can find an easy job and start your life. If you hate your job, who doesn’t hate their first 3-5 jobs? You hop and doors remain open if you have that degree.

+1 The warm cozy environment that OP wants sounds like a very expensive SLAC. State schools are going to be more impersonal than any ivy league school

+2. OP, unfortunately, the positive seven sisters' environment will cost just as much money (and I really really doubt anyone's giving you a scholarship at this point), and will open fewer doors for you. Suck it up and get through the degree. I think you'll probably have it even worse if you transfer.

OP here. That's what I thought too, but then I learned about these very generous scholarship programs for non-traditional transfer students:

https://www.wellesley.edu/esp/entering/davis

https://www.smith.edu/about-smith/ada-comstock-scholars-program

https://www.mtholyoke.edu/fp

I'd have to wait until I turn 24 (so three years), which is fine by me.

That’s a huge opportunity cost there. If you suck up and do the bare minimal for that degree, you could be coasting at a 25hr/week start up job and living in Copenhagen during your 20s, dating beautiful Viking men.
If you wait here you still have to deal with your parents.

[Anonymous]

No I would not take out a loan, Id transfer to a school with a major I like and cheaper tuition.

[Anonymous]

OP, I just re-read your post. It sounds like you have no direction, other than bad guidance from your parents, regarding which major is right for you, and where you want to work when you grow up. I have a feeling you might need extra semesters to complete a 4 year degree because if you change majors, you will be missing requisites. Then, you would need to borrow even more than $80,000. I would just leave your parents. Get into a free college and move out. Get a part-time job to pay your living expenses. Take the minimum courses required to keep financial aid. Can you be considered independent from your parents because they are kicking you out? I'd look into that too. Forget the 80k loans, forget the Ivy school. Get out, then find yourself and what you want to be and do. Otherwise, you will be a miserable adult in a job you hate.

[Anonymous]

Anonymous wrote:80k is 20k a year. That's practically nothing given how expensive college is.

She only has 1.5-2 years left I think. so 40k/year

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Any school that’s supportive and nurturing will cost just as much, with less career possibilities.
Any school that’s going to be cheaper, likely state school, will not give you the same kind of access to jobs after school. In many ways, life in your 20-35 will be just as cut throat and misery will last longer than your current situation.
If I were you, I’d take out the loan, find the easier major in your current Ivy, and get the bare minimal grade to get that degree. Then you can find an easy job and start your life. If you hate your job, who doesn’t hate their first 3-5 jobs? You hop and doors remain open if you have that degree.

+1 The warm cozy environment that OP wants sounds like a very expensive SLAC. State schools are going to be more impersonal than any ivy league school

+2. OP, unfortunately, the positive seven sisters' environment will cost just as much money (and I really really doubt anyone's giving you a scholarship at this point), and will open fewer doors for you. Suck it up and get through the degree. I think you'll probably have it even worse if you transfer.

OP here. That's what I thought too, but then I learned about these very generous scholarship programs for non-traditional transfer students:

https://www.wellesley.edu/esp/entering/davis

https://www.smith.edu/about-smith/ada-comstock-scholars-program

https://www.mtholyoke.edu/fp

I'd have to wait until I turn 24 (so three years), which is fine by me.

That’s a huge opportunity cost there. If you suck up and do the bare minimal for that degree, you could be coasting at a 25hr/week start up job and living in Copenhagen during your 20s, dating beautiful Viking men.
If you wait here you still have to deal with your parents.

Umm.... not with $80k in loans. With $80k in loans, I'd be busting my ass in a miserable office job that would dive me even deeper into depression just so I can have a networth of zero by 28.