Mortgage house to pay for Target
I was accepted to a target school (not HYPS but right below that tier) but unfortunately the financial aid package came recently and I received pretty much no aid. My parents are decently well off but definitely not wealthy enough to comfortably afford a 70,000+ year education. We'll likely have to mortgage our house to pay for it or I'll take on about $120,000 in debt. My other option is my non-target state school with a full ride that sends about 10-15 to NYC and 2-3 to MBB. Do you guys think it would be advisable for me to suck up the debt and go to the target or take the full-ride instead?
Lol. It's your parents house, don't do that to them. Pay your way (debt) or take the full ride.
Yea but we're close knit so regardless of if I take on debt versus remortgage house we'll all be pitching in either with my little sister's education or just directly paying off debt.
Apply for parent plus, I’d say a target school is worth it if you have a good head in your shoulders. Sallie Mae is good private option and you can get a lower rate if you’re paying interest throughout your undergrad
Sallie Mae has the worst name in the industry for private student loans, at least they used to, not sure if that's still true.
120k isn’t the end of the world especially on income based repayment
Income based repayment is a horrible idea if you're making six figures.
Bro don’t risk anything just to go to a ‘target’. If you’re really built to be in IB, you’ll find a way there whether you’re at Harvard or Alabama. It sounds like your state school has a wayyyy better network than the one I currently attend, and I’ve managed to accept a 22 and 23 IBSA just doing basic technical prep and networking my ass off. It’s not as hard as it seems coming from a ‘non-target’.
This is a bad take. It’s certainly not a cakewalk from a target, but to say being non target isn’t much harder is just bad advice.
That being said, it sounds like OPs school isn’t *that* much of a non target. I think he should either take in debt (only if he’s dead set on a high paying career like high finance) or go to the state school.
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