Grad school financial question

[jaydnul]

So I am debating between declaring an EE or physics major (im a sophomore at a university). Seems like a lot of people come to this crossroads. Honestly, the only reason i would do EE is for the better chances of employment after i get my BS. Now i am having to take out a small school loan to help pay the bills and i am worried that if i major in physics ill be trying to pay off those loans with minimum wage jobs because i can't get a real job anywhere. I also plan to go to grad school. So my question is for the people who had to take out loans and how they managed them after graduating with a BS. Did you take out even more loans during grad school and end up paying the lot of them after receiving a phd?

 

[TMFKAN64]

If you have been accepted by a Ph.D. program but not given any financial support, they have actually rejected you, but wanted to be polite in case you are independently wealthy.

Generally speaking, you should receive tuition and a small stipend during your Ph.D. studies, in exchange for either teaching or research services. You shouldn't have to take out any additional loans to get a Ph.D.

The situation is different for master's degrees. Full support there is the exception, rather than the rule.

 

[Takuza]

If you have been accepted by a Ph.D. program but not given any financial support, they have actually rejected you, but wanted to be polite in case you are independently wealthy.

Well said.

 

[carlgrace]

If you have been accepted by a Ph.D. program but not given any financial support, they have actually rejected you, but wanted to be polite in case you are independently wealthy.

Depends on the school. Well over half of the students accepted into Stanford's EE grad program do not get a funding offer. They typically pay for one year and get support if they pass the Ph.D. screening exam.

 

[Matrix0]

I understand your concerns about financial stability and the potential impact on your career choices. However, I would like to remind you that your decision should not solely be based on job prospects and potential salary. It is important to choose a major that you are passionate about and that aligns with your strengths and interests. This will not only make your academic journey more enjoyable, but it will also set you up for long-term success in your career.

That being said, it is also important to consider the financial aspect of your decision. Taking out loans for your undergraduate education is a common practice, and many students are in the same situation as you. It is important to carefully budget and plan for how you will manage these loans after graduation. This may include finding a job in your field, applying for loan forgiveness programs, or seeking financial assistance from your university or other organizations.

When it comes to graduate school, it is common for students to take out additional loans to cover the cost of tuition and living expenses. However, there are also options for funding such as scholarships, grants, and assistantships. It is important to research and apply for these opportunities to help alleviate the financial burden.

In the end, it is important to make a decision that not only takes into account your financial situation, but also your academic and career goals. It may be helpful to speak with a financial advisor or career counselor to discuss your options and create a plan for managing your loans. Remember, with hard work and determination, you can succeed in any field you choose.