Columbia University Huge Loan for Undergrad

Hi, I recently got admitted to Columbia University: School of General Studies, as a transfer from a community college. The only problem I have with the school is the lack of financial aid, because of this upon graduation, I estimate that I will leave with about 100-105k in loans after interest.

My Background: First person to attend college in my family.
minority: latin. Family's total income is about 40k.

Do you guys think it may be worth it for me to attend Columbia or that it might be financially wise to hold of and wait to hear back from the other schools I applied to (Lehigh, Cornell, Duke, Amherst, and NYU), or just attend Baruch and graduate debt free?

Just letting you guys know I'm interested in pursuing a career in sales and trading.

 

100% agree with gpck. I'm surprised Columbia isn't need-blind, but I expect that if you got in there that you can get into one of the others and that they'll give you some/lots of financial aid loans and/or grants (assuming you're an American citizen, since many colleges don't offer aid to internationals). That being said, if your choices at the end of it are between Columbia and community college, I think you should probably take the debt.

 

I know Columbia doesn't meet full need for transfers but it's a bit ridiculous that a school with its resources didn't give you anything. If you get into the rest with more aid then I would go there (especially Cornell or Duke) but you should be able to place somewhere in IB from all with varying amounts of work if that's your goal. $100-105k of debt is a lot of money.

Also may be worth reaching out to Columbias fin aid department if you get more acceptances.

 

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