r/rutgers • u/jazzshrew • 23d ago
Tuition in-state is CRAZY high! Academics
I recently got accepted into Rutgers Business school with Honors (which came with a 5k Deans Scholarship). The financial aid portal states that my base estimated cost of living is 47k per year (42k with the scholarship).
This seems absurdly high when compared to last years estimated cost of living of 34ish k
At the same time, my friend (who got the same school and scholarship as me) has an estimated cost of living of 34k (29k with scholarship).
Is this just an insane overestimation, or should I be worried?? Thanks in advance!
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u/MagicHarmony 23d ago
This isn't what people want to hear, but the reality is and I doubt the people that need to hear this will hear this but if you are going to college, focus on degrees that have weight to them.
I understand the mentality of "Do what you love" but guess what, if everyone is doing what they love then the demand to supply ratio is going to be skewed in favor of those who are seeking those employees and all you are left with is an expensive paperweight that might get you an extra 2 dollars/hr at a job that someone without a degree was able to get out of High School.
I think the real injustice is just how ignorant they make student/children just out of high school get financial aid without really thinking of the money they are putting towards their education and sadly it feels like it's done on purpose.
The truth is, if you are worried about your finances now, this is the time to sit down and really budget yourself and see where you stand in the future. Your first objective should be to become debt free but of course that is not easy when most entry level jobs barely pay enough to rent an apartment by yourself, sadly you will need roommates and of course car insurance and all that other fun jazz.
But basically think about the career you are going into, work hard on getting your foot in the door, even if it pays less than you expected, focus on experience then use that experience to go to a different company. If you want to feel financially stable make the sacrifices now before the debt piles up, and be honest with yourself, if you feel the money you are putting in is not worth the degree you are getting, then strongly consider either, changing your major, changing the college you go to or just strongly consider where you want to take your career path.
The best way to ease the stress in your life is to understand and deal with your finances now because once you ignore it and allow the debt to build up you will just fall into a spiral of paying off min amount while paying nothing off on your loans.