You are doing the right thing by asking questions about this decision.
I am very fortunate that I did not listen to the "college is an investment" and "you can take out loans" when I was deciding on a college. I chose the 2 year community college, finish up at a four year university and work as much as I could at ♥♥♥♥♥♥ retail jobs route.
If you are going to be making 30K per year at graduation, 50K in debt is a lot of money. At 5% and a 5 year repayment schedule, you are looking at almost $1000 per month. This is serious money. The student loan payments will strangle you and prevent you from purchasing a car, home or having a big wedding.
If you are interested in the field you wish to study, go to a state university, work hard and keep the debt down. For most fields, a fancy university is just sprinkle on a resume or something to talk about at a cocktail party in order to impress a chick...
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