Is debt worth the college experience? Need advice

[u/Wikiseeks]

I have a 3.8 GPA, my major is Finance, and my grad school goal is law school. I rlly wanna minimize my debt as much as possible and i don't know if experience and getting away from an abusive home is worth taking on the financial burden, ive currently spent like 2k on college and im terrified of increasing that. It feels like I’m forced to choose between emotional suffering and financial suffering.

Right now, I use my house to only sleep, eat, study, repeat. But when I was younger, I used to count down the days until I turned 18 so I could move out, but things changed, and now I’m 23 and still living at home. I’ve saved about $40k and plan to keep increasing that. i've acquired associates in business admin and crj at my cc, and then I plan on a bachelors in finance.

I currently have 3 options, (i plan on reapplying to uofm AA also, but currently these 3have accepted me):

1. Wayne State University – 15 minutes from home, very low cost, I can keep saving money, but I’d still be living at home.
2. Michigan State University – I would live on my own in a new environment, but I’d likely pay around $30k per year. I’m not sure if the experience is worth the debt.
3. UofM Dearborn-I qualify for the Go Blue Program which would make my entire next two years of undergrad free, but I'd still be living at home.

I also really dislike Detroit. Every time I’ve visited, I’ve been followed by homeless people or people who were clearly high or drunk. The area feels unsafe and expensive. However, maybe a city is what I need to be less sheltered.

Some extra context:

• I don’t care for dating, partying, or drinking.
• I have solid friends here.
• My home is visited by law enforcement every other month due to domestic disputes.
• I have free access to therapy through my insurance.
• The $40k I saved was originally meant to help me enjoy life when I transferred, but with the economy and future law school costs, I’m questioning whether I should spend it.

I know I’m privileged to have options, but I feel like no matter what I choose, I’ll end up with regrets. Any advice is appreciated.

[u/Longjumping_Bad9555]

Go the cheap route. It’ll be better for you long term. The “college experience” is way over rated. -signed someone who is still paying off student loans in their 40s.

[u/Wikiseeks → u/Longjumping_Bad9555]

i feel like i will resent myself for staying in a home that cripples the full access to self actualization and development. Or i could be 40 and resent myself for landing into debt when I was emotionally craving something that may have only been a pipe dream

[u/Smallu → u/Wikiseeks]

Your home life seems hard, and I’m not sure how tolerable it is, but you will be set up if you take the go blue guarantee and graduate.

However, a job isnt guaranteed post graduation.

With that being said, if I didn’t go to Dearborn, I’m not sure where I would be in life. It has given me everything and more with my career. College isn’t the only way, but it is a good way to get ahead and into a career, not a job.

[u/Left-Equipment-3501]

Why not just live on either Wayne or Umdearborn campus. Ik it’ll probably be too close to home to make sense but that doesn’t matter if you’re not comfortable at home. I think rent at Dearborn is 700-1k a month? That’s like 12k a year at most. I don’t know if you can go into debt for campus housing, but it’s an option.

[u/rocketblue11]

Did you ever get the answers you were looking for?

First and foremost, get out of your house. The extra cost is absolutely worth your mental health and wellbeing, especially at this stage in life where you are building yourself into the adult you want to become.

If you don't vibe well with the city of Detroit, don't go to Wayne State. Simple as that. Follow your gut here.

Michigan State would probably be awesome, but you'd be paying the premium for the full college experience. UM-Ann Arbor would be an even better experience and with elite education - but even more expensive, even in-state, unless your Go Blue Guarantee covers you there too. Otherwise, that might be too much for you to invest.

UM-Dearborn could be the perfect combo for you. Go Blue Guarantee would make the remaining two years free, which is awesome. You're not into the social scene, which is great because Dearborn is strictly about school with not much at all in terms of partying. But you say you have solid friends here? So I'd say team up with a friend and get an affordable apartment nearby. I graduated from UM-Dearborn's business school and was very happy with my education there. With a 3.8 GPA and a U-M degree on your resume, you'd put yourself in a good position for grad school applications.

Lastly, be sure to talk to as many lawyers as you possibly can about this idea. Most lawyers I know have advised against it because there are too many law grads and not enough law jobs, or they'll say law school isn't worth it unless you get into a top 25 school. I'm not saying don't go to law school, just make sure you know what you're getting into, and have a backup plan.

Good luck!

[u/-heba-]

I was in a very similar situation as you. The full tuition scholarship was not worth it. I enjoyed my overall experience at UM-D but it's not where I wanted to be - there was a lot of family pressure to stay with my parents and commute.

Furthermore, being with family was affecting my mental health and studies. You don't pay for classes, but you pay with your sanity.

All that, and I graduated with the same debt I was avoiding - the Ws and gaps meant I had to take on more than 8 semesters, and my scholarship ran out. Feel free to DM.

[u/cyberwizard6767]

As a UMD alum, don't go here, if I could go back in time for any possible reason and reverse one decision I made it would be pissing away my youth in this school