untar614 wrote:hmlee wrote:I would also add that going to NU at sticker is not necessarily a bad idea. It really depends on where else you got in and whether you got money from a comparable school.
I graduated from Northwestern last year, and I paid sticker during my time there. I also have a little bit of undergraduate debt from my years at U Chicago. I don't work public interest, and I make a salary that is livable but not near BigLaw proportions. I'm starting IBR this summer and am not terribly concerned about my debt. This is partly because I have a shot at a decent payout if the startup that I work for goes big, but also because I know that IBR is completely reasonable and I highly doubt the tax code will be the same as it is now in 25 years (if it even takes me that long to pay it).
No school can guarantee you a job, even three years from now when we have no idea what the market will look like. Still, some schools are certainly better than others. Debt load and school ranking should be considerations, but it's a balancing act.
Are you really paying off your debt on IBR? I thought that at sticker, the debt accrued would result in nearly 25k/year just in interest.
I think the idea is to have it forgiven after 25 years.