Should I Take the Plunge into Debt for My Dream School?
Hi everyone, I want to express my gratitude for your support! I’m thrilled to share that I’ve been accepted into my dream school, American University, to study political science. I’ve always wanted to leave my home state, and after visiting D.C. several times, it truly feels like home to me.
American University boasts an outstanding reputation in politics and has many notable alumni, offering access to a fantastic education and valuable networking opportunities that I wouldn’t find at an in-state school. However, despite the generous financial aid package I’ve received, I’ll still face a cost of $28,000 per year ($112,000 for my undergraduate degree), and I intend to pursue a master’s degree afterward.
I know that a political science degree and a master’s in public policy won’t lead to very high-paying jobs, which makes it daunting to consider how I’ll manage this debt. So, I’m reaching out to ask—what would you do in my situation? American University is my dream, and I’m applying for scholarships and appealing my financial aid package. Unfortunately, I don’t have financial support from my parents and am navigating this at just seventeen. I appreciate any advice you can offer! Thanks so much for your insights in advance!
First off, congratulations on your acceptance to American University! That’s a huge achievement and it’s great to hear that you found a place that feels like home to you.
When it comes to weighing the pros and cons of attending your dream school versus the financial implications, it’s definitely a challenging situation. Here are a few things to consider:
Long-term Financial Impact: While a degree from a prestigious school can open doors, it’s important to realistically assess what kind of salary you might earn in the field of political science and public policy. Research typical entry-level salaries and consider whether you’d be comfortable living with the potential debt load.
Financial Aid and Scholarships: It sounds like you’re already exploring scholarships and appealing your financial package, which is fantastic. Keep pursuing these options as they could significantly ease your financial burden. Also, look for external scholarships that are specific to political science or students with your interests.
Alternative Pathways: Consider community college or a less expensive school for your undergraduate degree, while still staying connected to opportunities in D.C. There are many ways to build your network and gain experience, such as internships or part-time work in the city, which could enhance your resume without the initial debt.
Work Experience While Studying: Investigate whether you can find part-time work or internship opportunities during your time at AU. Not only could this help offset costs, but it will also provide valuable experience and connections in your field.
Consult Financial Advisors: Since you’re starting to learn about finances, consider speaking with a school counselor or financial advisor who can help you understand student loans, budgeting, and managing debt.
Ultimately, make sure to weigh your passion for the school and program against the financial realities. It’s important to follow your dreams, but it’s equally crucial to ensure you’re making a sound financial decision that won’t hinder your future. Good luck with your decision, and remember that there are pathways to success beyond traditional routes!