Reply to In State Scholarship vs Out of State Debt

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[quote=Anonymous]this is 22:25, who has worked as a college professor, student affairs professional, and now runs a non-profit that focuses on career development for college students.

St. Mary's hands down. Has a reputation as an honors college to those who know and a SLAC to those who don't know (whereas UMBC may be an honors college, but can seem to some more like a regional univ. to those unfamiliar); will give her the small, elite school experience; and will not saddle her with debt.

She's what, 18? Yes she wants to study stats now and that's pretty practical, but what if she falls in love with philosophy and decides she wants to be a school teacher? That's a lovely career path that will be a great life if she leaves college and you give her a gift of 10k for graduation that she opens a retirement account with and will suck if she graduates with 100k of debt.

Trust me, DH and I had 200k of debt (both had loans for PhDs). We pay 3.5K per month on debt and 2k on our mortgage. If we didn't have that debt, we'd have a house with another bedroom, we'd take annual vacations, I'd go buy jeans that fit rather than squeezing into Old Navy mom jeans....[/quote]

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