Should money be an important factor in college decisions?

Great question - tough choice!

I would weigh the starting income for the career path against the expenses of earning a degree in your chosen field. This site shares annual incomes by degree/program. It may help.

http://online.wsj.com/public/resources/documents/info-Degrees_that_Pay_you_Back-sort.html

Incurring some debt should not prevent you from going to college. But as you noted and are wary of - too much debt is a bad thing.

Great question, and not an easy one to answer. Though it may be true that there are schools with subsidies for students, there are a number of factors in play. Obviously, if you could get the entire education paid for without incurring debt, your only concern may be leaving home and missing your family, which I've seen many times cause students to transfer back to a school near home. Out of state tuition is usually much higher than in state, so for this to be a strong consideration, the subsidies or scholarships you get would need to cover at least the difference in tuition rates. For me, I took on student loans because I knew how important a college education was for my future. I also served in the military to finance my graduate degree. The horror stories you hear of low paying jobs after college for graduates making very little are becoming more common and you should definitely consider these, but as I always say, you get one life to live, so don't let money control everything! Be passionate about what you do for a living, you'll be working for 40+ years, that's a long time to be miserable or unhappy in your career. Good luck!

Hi Karen!

In my opinion, you should keep the cost of education down as much as possible, so that you do not incur a high student loan debt.

It would be good to start at a community college, participating in coop and intern programs, and then go to a state school near your home to cut down on costs.

Too many people go to an expensive school and never earn enough to pay for their expensive school loans!!!

http://www.educationplanner.org/students/paying-for-school/ways-to-pay/reduce-college-costs.shtml

http://www.frugalrules.com/5-ways-keep-college-costs-down/

Here is a site that will help you find scholarships and internships, etc.

fastweb.com

For most Americans, money doesn't grow on trees. So, cost is a major factor, in choosing a college. Education is a huge investment of time and money, and you want the investment to pay off, in the end.

But, it certainly isn't the only factor in making your choice. There are many other factors to consider, such as the programs available, the quality of the professors, the housing, the student resources, the culture, etc. But, if you're going to invest your time and money into a school that has a higher tuition rate, then there should be compelling reasons to justify the additional investment.

Did the teachers and other college graduates say why you should expand your search? Here are some reasons I can think might justify an expanded search:

1. Do your in-state schools offer the program or curriculum you're interested in, and are they accredited? If not, you might need to expand your search.
2. Is there a specific, out-of-state school that is widely considered to be the #1 school for your intended career path? If so, it might be worth considering.
3. Are there out-of-state schools that will give you a specific career advantage, over your in-state schools? (Such as proximity to major employers, mentors, intern opportunities, or the "hot-bed" of your industry?) If so, maybe it would be worth looking into.
4. Does an out-of-state school offer an attractive field-study or work-study program, not offered anywhere else? If so, it might be worth the extra investment.

If none of these apply, and you don't have other, compelling reasons to justify the extra investment in tuition, then perhaps you'd do just as well, leaving that extra $ in your pocket. You can get a very high quality education, in an economical fashion, without having to go across state lines.

Good luck!

A great question. There should be many factors you are assessing as you choose the right college for you. While cost isn't the only factor, it shouldn't be overlooked. Make sure you are fully considering what In State schools offer. Don't discount them just because they're "in your backyard". The significantly reduced tuition costs for In State students often makes them a great value for the money spent. If you find that an Out of State school fits you better, just weigh that value against the increased cost, research all sources of tuition assistance/scholarships, and have a structured plan for paying off debt after graduation. Good luck!