Dilemma!! Should I transfer to the college I want to go to?

[NJNetz]

Bear with me as I explain.

I just finished my freshman year at a college I commute to 4 times a week. The school has a good rep, but I personally hate it. It doesn't feel like college at all. College is supposed to be one of the best years of your life, and it certainly doesn't feel like that there. It feels more like a business than anything. People don't seem eager to meet new people, and outside of class there is absolutely nothing to do there. On top of this, my grades have been suffering all year, but I truly have no motivation to go there.

Now I applied for transfer to a university that I wanted to go this past year and was accepted. I did this to have options. I seem to really want to go there. This uni just seems like a place where I can have a good time, and even learn. On plus side, I would be dorming with a good buddy of mine. I've even visited and it seems like a good place.

Here's the problem. Even with financial aid, I would have take out loans of around $6000 a year for the next 3 years. In my current shitty college, aid pays for everything, and I even get around $3000 a semester for personal use.

I'm not sure what I should do. I want to transfer, but do I really want graduate and have a debt of $18,000+ plus on my hands?

 

[Shapecity]

$18K is not a lot of debt. The 1st year of college is usually a transition year so you might have the same dilemma if you transfer.

 

[maxiep]

$18K isn't an unreasonable amount with which to be saddled, especially if you're going to be happier. I do have a few questions, however.

1. Is the reputation of the new school equivalent or better than your current one?
2. Would you be commuting or living on/near campus?
3. Would transferring delay your graduation?

College is as much about putting you in an environment to meet people who will help you through life as it is a place to study. If you're not getting the friendships/social and business connections at your current school, perhaps the change may be worth it.

 

[NJNetz]

$18K is not a lot of debt. The 1st year of college is usually a transition year so you might have the same dilemma if you transfer.

$18K, seems like a lot to me. Shape, I wanted to go away for college even in high school. I applied to the uni then and was accepted. I decided against it because of the money issue. I'm not sure if transition is the problem here.



1. Is the reputation of the new school equivalent or better than your current one?
I'm pretty sure they are equal

2. Would you be commuting or living on/near campus?
I would be living on campus which is something I want.

3. Would transferring delay your graduation?
No, it shouldn't.

 

[maxiep]

$18K, seems like a lot to me. Shape, I wanted to go away for college even in high school. I applied to the uni then and was accepted. I decided against it because of the money issue. I'm not sure if transition is the problem here.



1. Is the reputation of the new school equivalent or better than your current one?
I'm pretty sure they are equal

2. Would you be commuting or living on/near campus?
I would be living on campus which is something I want.

3. Would transferring delay your graduation?
No, it shouldn't.

Coming up with $18K right now is a lot of money. Paying it off over 10 years is barely noticeable, something like $200/mo. It seems to be a three year purchase for happiness. Is that worth $18K? That's up to you.

 

[BoBoBREWSKI]

I agree with maxiep.

Go for it! You only live once and college should be one of the best times of your life. Enjoy it! People waste $18k on cars and other crap... at least you'll be using it for an education and life experiences that are priceless.

 

[mook]

I was in almost exactly the same boat as you as a freshman in college at the University of Idaho. Absolutely hated it. Bunch of hillbillies, and the classes were generally better taught back in high school. But it was so cheap.

I transferred to the University of Oregon as a sophomore. That decision probably cost about $20k, after paying out-of-state tuition. But it was a far better school, and had much more interesting people. I went there an ultra-conservative baptist and left there an atheist granola.

I list that as maybe the third best decision I've ever made in my life. Go with your gut.

If the money is what's really bothering you, put it in context of your total lifetime earnings. Assuming you finish your bachelor's degree, you'll have earned around $2.1 million by the time you are dead if you are an average American. The $18k you will spend going to a different school is an eighth of a percent of your probable earnings over your life. A pittance of an investment.

However, if you get fed up and drop out of college because you don't transfer and you hate going to school, your lifetime earnings will be around 70% compared to if you graduated, or $1.5 mil.

So saving the $18k by not transferring may wind up costing you $600k over your life.

Obviously, this is all hypothetical and your earnings may be different. After all, lots of millionaires are college dropouts. But you get my point.

If I were to wager on what your best long-term financial decision is, it's transferring and paying the $18k more. It's a very minor investment compared to the much bigger risk that you might drop out if you continue to be fed up with your education.

 

[CelticKing]

If you get a good job it won't be noticeable, but really Vinyard, I would go where I feel the best, and in your situation it seems to transfer is the best option.

 

[NJNetz]

Thanks for the responses guys.

CK, I intend on being a cop when I graduate. Most likely NYPD.

Transferring feels like the right move. Like I mentioned in my earlier post, my grades are suffering, too. I just have no motivation at my current college. Kinda feels like a bad excuse.

Another thing I like about dorming is that friends are just around the corner. Even when you're studying, you could take a 5 min break and chill with your buddies.

Overall, it seems like a better situation.

 

[CelticKing]

Thanks for the responses guys.

CK, I intend on being a cop when I graduate. Most likely NYPD.

Transferring feels like the right move. Like I mentioned in my earlier post, my grades are suffering, too. I just have no motivation at my current college. Kinda feels like a bad excuse.

Another thing I like about dorming is that friends are just around the corner. Even when you're studying, you could take a 5 min break and chill with your buddies.

Overall, it seems like a better situation.

That's really cool bro, wanting to be a cop. So what's your major going to be?

 

[BoBoBREWSKI]

Way to break it down mook!

 

[NJNetz]

That's really cool bro, wanting to be a cop. So what's your major going to be?

My favorite subject -- History.

 

[CelticKing]

My favorite subject -- History.

That's my favorite subject too, especially WW2 area of it.

 

[TradeNurkicNow]

Man I'm a year away from my M.A. and I'm gonna have 70k+ in debt. You're lucky because you have 3+ years in front of you to stay in school and you won't have to find a job in this extremely shitty economy. 18k in debt is nothing.

 

[NJNetz]

That's my favorite subject too, especially WW2 area of it.

Yeah, who doesn't love it?


I have to make this decision by June 3rd.

 

[Shapecity]

$18K is a drop in the bucket Vinyard. It might seem like a lot right now because you aren't working, but it's a loan you can easily afford to pay off in 10 years or 20 years depending on the type you've applied for. Plus interest rates are VERY low right now so make sure you get fixed rate loan if you do go this route.

Put it another way, you are wasting how much now to be unhappy and have shitty grades?

 

[EL PRESIDENTE]

Living in dorms/on-campus rocks. But when you transfer and not having a network you'll be an "outsider" from the get-go.

 

[BrianFromWA]

Hell, if you want to be a cop do the ROTC thing and join the military. They're tossing money left and right at Force Protection/Master-at-arms types/Military Police types. Decent real-world experience and a pretty decent-paying job for 4 years.

 

[EL PRESIDENTE]

ROTCs at my school never ever got any pussy. Everyone just assumed they were NARCs!

 

[Eastoff]

ROTCs at my school never ever got any pussy. Everyone just assumed they were NARCs!

That was generally my impression at OSU, but I wasn't in the ROTC. Although I think they co-mingled somewhat.

 

[NJNetz]

Here are the loans I need to take out.

For undergraduates, the subsidized loan interest rate is fixed at 6.0% in 2008-09, 5.6% in 2009-10, 4.5% in 2010-11, and 3.4% in 2011-12. For graduates, the subsidized loan interest rate is fixed at 6.8%. There is a 0.5% fee that is deducted at the time of disbursement. The subsidized loan does not accrue any interest until repayment starts. Repayment starts no sooner than nine months after you graduate or fall below half-time status. There is a ten year re-payment period and other re-payment options also.

$4,500.00 per year.

And

The unsubsidized loan interest rate is currently fixed at 6.8%. There is a 0.5% fee that is deducted at the time of disbursement. The unsubsidized loan starts to accrue interest after payment to your account. While in college, you can elect to pay the interest on an unsubsidized loan or have it added to the principal. Repayment starts no sooner than nine months after you graduate or fall below half-time status. There is a ten year re-payment period and other re-payment options.

2,000.00 per year.

 

[NJNetz]

Only a few days left...

 

[tlongII]

What are the names of the schools? The one you're currently attending and the one you want to transfer to?

 

[NJNetz]

I'm attending Hunter College and I want to transfer to Plattsburgh State University.

 

[tlongII]

I'm attending Hunter College and I want to transfer to Plattsburgh State University.

Never heard of either one...

Just do what makes you happy. If you go to Plattsburgh State just make sure take care of business and graduate on time. If you keep your debt at only $18K you'll have no problem paying it off as long as you get a job.

 

[barfo]

I'm attending Hunter College and I want to transfer to Plattsburgh State University.

CK, I intend on being a cop when I graduate. Most likely NYPD.

1. Is the reputation of the new school equivalent or better than your current one?
I'm pretty sure they are equal

Ok, well, one thing I would say is that Hunter College has a significantly superior academic reputation as compared to Plattsburgh. That is, if you wanted to go into a profession where people are snobs about what school you went to, you'd be better off sticking with Hunter. However... I suppose cops don't tend to be academic snobs (don't know for sure, I've never tried to get a job as a cop), and all the other factors you mention seem to point to Plattsburgh. So, if I were you... I'd transfer.

barfo

 

[SlyPokerDog]

Best advice...

[video=youtube;if504e1EHJg]

 

[BlazersBlood]

Best advice...

[video=youtube;if504e1EHJg]

What's the advice? Don't be lame like the video & music? Don't click on the video & save yourself 3 minutes of your life? Maybe I'm too young to get the reference.

 

[NJNetz]

I'm making my decision within the hour. I just hope it's all worth it.

 

[NJNetz]

This might be a dumb question, but I just want to make sure. Let's say I get a loan of $6,500. And let's say I don't use about $1000, can I use that money to help pay off the loan I originally took?