So... yesterday I was officially accepted into Carnegie Mellon. Now I'm wondering - is it worth the money?
It costs 55k a year - assuming parents provide 15k a year, I provide 5k a year, and CMU gives me a grant of 10k a year, that leaves 25k a year, or 100k worth of debt.
Short and sweet: is it worth the debt over a public university (specifically, University of Maryland)?
I've crunched some numbers and assumed I get an S&T job out of undergrad in NYC. The numbers would look somewhat like this:
Total Rent: 1750
Total Misc: 750
Total Monthly Cost: 2500
Total Yearly Expense Cost: 30000
Total College Loan Monthly Cost: 1075
Total Yearly Debt Cost : 13000
Total Yearly Important Incidentals: 2000
Total Yearly Cost: 45000
How Much I Will Be Making: 65000 +25000 Bonus = 90000
Net Income = Earnings/2 = 45000
So net balance = 0... so it should be doable (if these numbers look off, please correct me!)
All opinions would be welcome!