How Do You Manage Student Loans After Declaring Your Major?

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Discussion Overview

The discussion revolves around the financial implications of choosing a major in Electrical Engineering (EE) versus Physics, particularly in relation to managing student loans and funding for graduate studies. Participants share their experiences and concerns regarding employment prospects and financial support during graduate education.

Discussion Character

  • Debate/contested
  • Exploratory
  • Technical explanation

Main Points Raised

  • One participant expresses concern about the potential for low-paying jobs with a Physics degree, suggesting that an EE major may offer better employment opportunities post-graduation.
  • Another participant asserts that acceptance into a Ph.D. program without financial support indicates a lack of genuine acceptance, emphasizing that Ph.D. students typically receive tuition coverage and stipends in exchange for teaching or research work.
  • A later reply agrees with the previous point, reinforcing the idea that financial support is expected for Ph.D. candidates.
  • Another participant challenges the notion of universal funding, noting that many students in specific programs, such as Stanford's EE grad program, do not receive funding initially and may have to self-fund for a year before qualifying for support.

Areas of Agreement / Disagreement

Participants express differing views on the availability of financial support for graduate studies, particularly between Ph.D. and master's programs. There is no consensus on the reliability of funding across different institutions or programs.

Contextual Notes

Participants highlight the variability in funding availability based on the type of graduate program and institution, indicating that assumptions about financial support may not hold universally.

Who May Find This Useful

Students considering majors in EE or Physics, those planning to pursue graduate studies, and individuals interested in the financial aspects of higher education in STEM fields.

jaydnul
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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?
 
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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.
 
TMFKAN64 said:
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.
 
TMFKAN64 said:
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.
 

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