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Is it worth borrowing a lot of money to go to my dream school?

I am asking this question because at the end of my college I will owe a lot of money in student loans and if I went to a school that I did not want to go to but was cheaper I wouldn't have to pay back as many student loans and I don't know if borrowing all of this money is worth it. #professor #financial-aid #student-loans #dean

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Paul’s Answer

This is a question asked by not just undergraduates but graduate students as well. In fact, I had this same dilemma myself 2 years ago when I was thinking about enrolling in a part-time MBA program. In the end, I decided that taking on an enormous amount of debt just so I could put a fancy school name on my resume wasn't worth it.


You really have to look at this from a long-term perspective. You also have to look at the big picture. First the obvious: the larger the debt the longer it will take you to pay it off. Because of this, it will cost you even more money because interest is accruing each month that you have a balance. Second, in the real world employers care less about where you went to school and more about what you have done since graduating. Now of course there are exceptions to every rule depending upon the field you are in but it generally holds true. Hope this helps.

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