Decision Help

[hope1407]

Hi everyone,

I was waitlisted at my two top schools (UMB and UMES) and got into one about two months ago (UMB). UMB starts at the end of May, so I have already gotten an apartment there, moved all my stuff in, and paid my first month's rent as well as other fees for the school. I was content with my decision until two days ago when I found out I got into UMES... the situation is that UMES is very close to my home, so I could live with my parents while commuting there. The commute is 30-40 minutes. I went to UMES for undergrad, so I kind of have a feel for how the school is, whereas UMB I do not have as much background. At UMB, I would be living with my long-term boyfriend who works in the Baltimore area and walking to school. I would still like to go to UMB because I feel that I would be able to focus more being away from family (wore way too many hats during undergrad being at home) and I would get to see/interact with a lot more of the field of PT in Baltimore vs the Eastern Shore of Maryland. Obviously I'd be comfortable at home, and being in the city would be a new thing for me, but I'm open to the experience. The only issue is the price. UMB is about $60,000 more total than UMES, including living expenses and tuition/fees. Is it worth it to put myself in more debt ? I should note that I don't have debt from undergrad, so at this point I am debt-free until I make a decision. Please help Thanks everyone!

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[DPTTELl]

Go to the one that will save you the most. Think about long term 60k is a huge difference! Also remember that 60k will probably turn into 75k to 80k if you add the interest that will accrue while in school.
It sucks that you already got an apartment there and moved everything, but I’m sure breaking a lease and losing a few thousands in fees you paid to the school won’t compare to the money you will save over time.

 

[dpt628570]

60k is a big difference! If it was me, I would definitely pick the cheaper program at that price difference. One thing I would compare is the graduation and NPTE pass rates. Going to UMB will probably make you happier during these short 3 years at the price of $60k but you need to consider that the happiness will cost you more than a years PT salary (after taxes). Heck, you could use that $60k to invest into your 401k and then it turns into $500k when you and your then-husband retires at the age of 65 and travel the world! Even more happiness!

 

[hope1407]

That's very true. Thank you!