Anonymous122 Posted February 28, 2011 Share Posted February 28, 2011 I need some advice on my graduate school options. I'm hoping that some outside perspectives will help me come to a decision. Here is the background: -I have $31,000 in student loan debt that I accumulated for my bachelor of arts in political science at a private university. -I was accepted into two graduate schools. School A is a highly ranked (top 30) private university in a metropolitan area. School B is a state university in a rural area. -School A is going to cost me $60,000 for a Master of Arts in Social Studies Education. School B will cost me $25,000 for the same degree. -If I go to school A, I'll live on campus and probably be able to walk to all of my classes and the school that I student teach at. If I go to school B, I'll have an hour-long commute, to and from school, every day. -Obviously, when I graduate, I'll be a teacher, so I'll be working with a teacher's salary in terms of student loan repayment. -I might want to go back to school eventually for a PhD. My question is, given the information that I just provided, would you go to school A or school B? Link to comment
rocio Posted February 28, 2011 Share Posted February 28, 2011 Have you checked whether either school offers funding, grants, etc? Link to comment
Anonymous122 Posted February 28, 2011 Author Share Posted February 28, 2011 Have you checked whether either school offers funding, grants, etc? School A has me on a waitlist for a full ride, but 10-1 I won't get one, because someone else would have to turn one down in order for me to get it. School B does not. These are the final numbers. Link to comment
rocio Posted February 28, 2011 Share Posted February 28, 2011 Can you find out whether you get the funding before you make your decision? Link to comment
Anonymous122 Posted February 28, 2011 Author Share Posted February 28, 2011 Can you find out whether you get the funding before you make your decision? Definitely not. They told me that the waitlist for full funding is something they're not going to be looking at until after the April 15th deadline. I'm acting under the assumption that every penny will be have to paid for by student loans. Link to comment
annie24 Posted February 28, 2011 Share Posted February 28, 2011 yes, i would figure out what is the possibility for funding - either as an RA or a TA. most programs have their students TA and that will help offset the tuition, health insurance, etc..... Link to comment
rocio Posted February 28, 2011 Share Posted February 28, 2011 You still have to factor in the possibility but discount it heavily. During the one-hour commute, will you be able to study? (ie: will you be on a bus or driving?) Link to comment
Anonymous122 Posted February 28, 2011 Author Share Posted February 28, 2011 You still have to factor in the possibility but discount it heavily. During the one-hour commute, will you be able to study? (ie: will you be on a bus or driving?) Driving via a rural highway. Link to comment
rocio Posted February 28, 2011 Share Posted February 28, 2011 Then you'll be losing two hours of potential study time by going to school B. You may find it quite difficult to fit in teaching, studying, sleeping, showering, etc. (You'd be surprised how many graduate students really do skip showers when they're panicking and need time to study) Link to comment
Anonymous122 Posted February 28, 2011 Author Share Posted February 28, 2011 Is the extra $35k worth that two hours? Link to comment
annie24 Posted February 28, 2011 Share Posted February 28, 2011 you didn't answer my question though - would you be a TA? Link to comment
Anonymous122 Posted February 28, 2011 Author Share Posted February 28, 2011 you didn't answer my question though - would you be a TA? I mean, I would love to, but I don't think that sort of option is really available as far as I can tell. From what I've read, TA positions in the department of education are reserved for doctoral students. Link to comment
sentencedtoagony Posted February 28, 2011 Share Posted February 28, 2011 those 2 hours will amount to hundreds of hours. hours that could possibly be spent working a job to pay off the debt. plus, you'll save gas money and have a more prestigious degree (perhaps). Link to comment
Philos Posted February 28, 2011 Share Posted February 28, 2011 Was it worth it to get your BA if you had to take on $31,000 of debt? Link to comment
annie24 Posted February 28, 2011 Share Posted February 28, 2011 I mean, I would love to, but I don't think that sort of option is really available as far as I can tell. From what I've read, TA positions in the department of education are reserved for doctoral students. would it make sense for you to just enter the doctoral program directly? Link to comment
rocio Posted February 28, 2011 Share Posted February 28, 2011 Was it worth it to get your BA if you had to take on $31,000 of debt? Yes! Student debt is good debt. Link to comment
Anonymous122 Posted February 28, 2011 Author Share Posted February 28, 2011 would it make sense for you to just enter the doctoral program directly? No, because I'm not certified to be a teacher. I have to go through the masters program in order to obtain certification. Link to comment
annie24 Posted February 28, 2011 Share Posted February 28, 2011 No, because I'm not certified to be a teacher. I have to go through the masters program in order to obtain certification. I don't understand. Teacher certification is different from a doctoral program. I'm bringing up the possibility instead of going for the masters' and getting a certification, to go straight through and complete the PhD. you don't need to be a teacher to enter a doctoral program. Link to comment
Anonymous122 Posted February 28, 2011 Author Share Posted February 28, 2011 Was it worth it to get your BA if you had to take on $31,000 of debt? Yes, but $31,000 for four years seems extremely different to me than $60,000 for one year. I'm leaning toward the cheaper option, but I just feel like I'll be losing out on the chance to go to a prestigious university. I also just found out that I have to come up with a $600 deposit for housing at school A. I'm thinking school B is really my only option. Link to comment
Anonymous122 Posted February 28, 2011 Author Share Posted February 28, 2011 I don't understand. Teacher certification is different from a doctoral program. I'm bringing up the possibility instead of going for the masters' and getting a certification, to go straight through and complete the PhD. you don't need to be a teacher to enter a doctoral program. I understand what you're saying, but I can't teach without certification. I was saying that I might like to go back to school somewhere down the road for a doctoral degree, once I've already established myself as a teacher. I was saying it in the context of... if I take out $60k now, thats less that I can afford to take out if I decide to go back to school later. Link to comment
rocio Posted February 28, 2011 Share Posted February 28, 2011 It's none of my business, of course, but what range of salaries do you realistically expect to be earning 5 years after graduation, if you don't mind saying... Link to comment
Anonymous122 Posted February 28, 2011 Author Share Posted February 28, 2011 It's none of my business, of course, but what range of salaries do you realistically expect to be earning 5 years after graduation, if you don't mind saying... Five years after graduation, probably somewhere between $45,000-$50,000 Link to comment
rocio Posted March 1, 2011 Share Posted March 1, 2011 It won't be easy to pay off those loans. Have you sat down to figure out: a) exactly how much each option would cost you (living expenses, transportation, potential funding. Let's say you have a 10% chance of getting 15,000 in funding. The the expected value of that would be 1,500 (.10 times 15,000). Factor it in that way.) b) how much you'd have to pay per month once you start working to pay off Loan A vs. Loan B. ...See whether you can even afford the more expensive option. Link to comment
Anonymous122 Posted March 1, 2011 Author Share Posted March 1, 2011 Yah, I can't realistically afford school A. I don't like the idea of having student loans hanging over my head for 30 years because I chose to go to a more expensive school. I plan to live a minimalistic lifestyle after college, like I did in college, so that I can pay my student loans off in four years. I won't be able to do that if I go to school A. Thanks for the help everyone. Link to comment
annie24 Posted March 1, 2011 Share Posted March 1, 2011 which school will open more doors for you though?? Link to comment
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