I got the e-mail from Denver w/ the estimates on financial aid and it's all loans - no grants/scholarships/etc. I really dont know a lot about paying off huge loans, but what kind of trouble to DU students have after graduating as far as paying off this debt? Im planning on studying international law, as opposed to the more financially rewarding corporate law.
I'm actually a New York resident so the choice is coming down to Buffalo which is a miserable place, but cheap vs. Denver which is an area that i would love to live in... but would graduate with painful debt. But surely i can't be the only one going to Denver without scholarships - how does everyone else do it?
I think the majority of people have a hard time when they graduate. But let's face it, if you make around 70,000 dollars a year and you have a 1,700 monthly payment for your loans you are still bringing in a decent amount of money after the fact. You won't be able to buy the nice house that you imagine attorney's living in, but you will be able to buy a house. You will have to do it like the rest of the population does, you buy a small, less-than-desirable house when you graduate and then you upsize 15 years later. Not that you only think about houses, but you get the idea. I think the vast majority are able to live just fine.
But it is something to think about. I get nervous about it too. I am getting 15K a year but when I look at the debt I will still take out it is quite sobering. I have a wife and two kids also so the cost of living is incredibly high when it is all through loans. Also, I think I read that 25 of students at DU get scholarships, so the vast majority of the students are paying full tuition.