A Typical College Decision?

Question

I don't pay much to attend the college I go to now but I dislike it. I wanted to go to another college out of state (after freshman year) but it's going to cost a lot of money (like 25k for the first year since I won't be a resident-I'm not sure about the last two years). I was wondering should I stay here all 4 years and save up or go to the state I want to live in? I guess some would say to move since you don't get your college years back, while others might say think of all that debt. I'm wondering if all that debt would be worth it-if it is suggested that I stay and save money, do you have any suggestions on how to make light of this because I always feel unhappy and compressed here. I don't want to do anything here. Before the idea is suggested, I don't want to get involved on campus as I don't want to have any more to do with my school than I have to. Nothing interests me anyway. Also it's not a matter of adjusting-I'm set here, I just dislike it- my school and state.

Answer 1

It is very hard to change your state residence. Neither the state governments or the schools themselves make it easy to get an instate residency. Does another college have your particular major? The reason why I ask it is that student loans could make it more difficult to afford living on your own in another state after graduation. An idea might be to transfer to another college in your state to minimalize your costs so you could move to your dream state after graduation. Before you do anything, I recommend using the student loan calculator at Finaid before you decide on anything. Also, too much in student loans could force you living at home instead of having the ability to move out of state because you could not afford the rent. Good luck with your decision!

Answer 2

Hey there-

I went through this a couple years ago. I went to the best school my state had to offer academically- and I hated it. So I moved. 1500 miles away from friends and family to a school that costs me 30,000 a year.

Was it worth it? Definately. I am in debt up to my eyeballs now, but I have been having the time of my life at my second school. I don't mean that I'm going out and partying every night, or anything- I work full time in addition to going to school full time just to pay my monthly bills. But the university I'm at now is a bazillion times better for me.

About the debt, most students are going to be in debt for many years after college anyway, no matter where you go. When you apply for your new schools, apply for all the scholarships they have, etc. I did this and now I'm paying probably only 6,000 more a year from what I would be if I had stayed at my first school. WELL worth the price of admission.

Good luck to you!

Answer 3

This is a very big decision, and you need to make an informed one - definitely. I had to make this decision when I started grad school, and are my thoughts.

If you transfer out of state to go to college, you will be charged out-of-state tuition at that school for the remainder of your term there. (Don't be fooled by those "residency" requirements. Those apply to those NOT in college. As a general rule, you can't count the time you are in college towards residency.) So your schooling will cost you 30K your first year and 60+K the next two years. (Tuition for Jr's and Srs us usually more than fresh and soph classes).

So, you are looking at a college cost of $90,000 minimum. You might want to check, I've attached a link... On what the maximum amounts you can borrow per year, and the lifetime maximum loan amounts you can borrow... to see if you can even take on this debt.

Also, a good rule of thumb when borrowing is this. Don't borrow more than your expected first years salary. Using this rule, you should be able to afford the payments. So, with a debt of 90K (for example) you should be able to get a job after graduation earning that much per year. Also, a note, a debt that much would come out to a payment of a little over $900.00 a month.

You say you are not happy, but could you check out another school in state? I would be leary of taking on 30K worth of debt if you are this unhappy. What happens if you get to the new state and are still unhappy? If you drop out, you would still owe this money. I finally decided to go in state.. I still moved... far away... to an awesome school. But i was in the state and still graduated with debt... which I am still paying off. If I'd have borrowed 90K to go, I definiely wouldn't have been able to build my house.

Answer 4

Before you dig a debt hole that you can't get out of, please ask yourself the hard question---why do you want to attend the out of state school? If the reason is purely academic [best choice for your major, great professors, good reputation, better chances of employment after school, etc] then it could be worth the debt. But you really must research the school before you transfer. Talk with admissions, meet the department heads. Transferring for any other reason than academics is foolhardy. And like the other posters said, you will be a non-resident your entire stay, so you will be hunting for $$$ each year unless you can get help from the school.

Good luck

Answer 5

Try applying for a grant. I got over 12,000! Or for finacial aid, they're paying for 3 semetors for me. Plus if you don't live with your parents they will also help cover your room and board.