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Author Topic: Schorlarship questions  (Read 868 times)

dan123456

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Schorlarship questions
« on: November 05, 2008, 03:34:46 PM »
I was just wondering is it better to attend the best school you can and take out 180k in loans or go to a school that not nearly as good on a large scholarship?

Thanks

heartbreaker

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Re: Schorlarship questions
« Reply #1 on: November 05, 2008, 03:39:51 PM »
The best idea is to read the five and a half million discussions on this topic already.

Non-obnoxious answer? Depends on the schools in question, your post-graduation plans, regionality/location and a plethora of other circumstances which can not be addressed in a general hypothetical.

Katfid54

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Re: Schorlarship questions
« Reply #2 on: November 05, 2008, 03:42:28 PM »
The best idea is to read the five and a half million discussions on this topic already.

Oh snap

Drew P. Bottom

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Re: Schorlarship questions
« Reply #3 on: November 08, 2008, 12:52:06 AM »
Less debt.

Depends on what you want to do.

Highest ranked pwns lower ranked.

Which of those 3 sounds the most like something you'd say? 180k is a lot of money, particularly after you pay it off (in 10 years it'll end up being like 360k total spent)
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Katfid54

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Re: Schorlarship questions
« Reply #4 on: November 08, 2008, 08:21:28 AM »
Less debt.

Depends on what you want to do.

Highest ranked pwns lower ranked.

Which of those 3 sounds the most like something you'd say? 180k is a lot of money, particularly after you pay it off (in 10 years it'll end up being like 360k total spent)

More like 240/250k.  I can show you the math if you don't believe me.

EarlCat

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Re: Schorlarship questions
« Reply #5 on: November 08, 2008, 11:19:56 AM »
Less debt.

Depends on what you want to do.

Highest ranked pwns lower ranked.

Which of those 3 sounds the most like something you'd say? 180k is a lot of money, particularly after you pay it off (in 10 years it'll end up being like 360k total spent)

More like 240/250k.  I can show you the math if you don't believe me.

nit

Katfid54

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Re: Schorlarship questions
« Reply #6 on: November 08, 2008, 12:08:05 PM »
Less debt.

Depends on what you want to do.

Highest ranked pwns lower ranked.

Which of those 3 sounds the most like something you'd say? 180k is a lot of money, particularly after you pay it off (in 10 years it'll end up being like 360k total spent)

More like 240/250k.  I can show you the math if you don't believe me.

Let's see the proofs, gunner.

Assuming a 6.5% interest rate, 180k in loans with a 10 year repayment period will come out to a monthly payment of $2,043.86.  This payment is found by using the PV of an annuity function and solving for the annuity amount as opposed to the PV (or you can just use the excel pmt function).  With a ten year payback period, multiply the monthly payment by 120 (10 years x 12 payments a year) to get $245,263.63.

bloomlaw

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Re: Schorlarship questions
« Reply #7 on: November 08, 2008, 06:38:36 PM »
Less debt.

Depends on what you want to do.

Highest ranked pwns lower ranked.

Which of those 3 sounds the most like something you'd say? 180k is a lot of money, particularly after you pay it off (in 10 years it'll end up being like 360k total spent)

More like 240/250k.  I can show you the math if you don't believe me.

Let's see the proofs, gunner.

Assuming a 6.5% interest rate, 180k in loans with a 10 year repayment period will come out to a monthly payment of $2,043.86.  This payment is found by using the PV of an annuity function and solving for the annuity amount as opposed to the PV (or you can just use the excel pmt function).  With a ten year payback period, multiply the monthly payment by 120 (10 years x 12 payments a year) to get $245,263.63.

Just another reason I'll probably take the highest scholarship from a good school that I am offered.