[quote=Halo]
This is a somewhat odd request, but Spam, I need your help getting perspective.
I'm 17. I have no real concept of large sums of money, and my parents are terrible examples of good financial policy. I can learn through the experiences of others, though. 
As I mentioned a while back, I got into Imperial College London. It's one of the best unis in the world, and I'm super fucking chuffed. I'd go there without question, but for one issue: holy shit, moneyz. I'd be leaving with something like 50000 GBP worth of debt (around $83000), minimum. 
Or I could go to St. Andrews (3rd oldest uni in the world, where Prince William and Kate went, etc. etc.) or Edinburgh (top-20 in the world uni), and leave with virtually no debt by comparison.
Now, Imperial outclasses those institutions, by a wide margin, and there's virtually no better place for me to kickstart my career in academia. But I need to get some more perspective on how much money that is, more than just "a lot", so I can see if it's worth it. If you guys can offer any advice or any way for me to get a grip on this, as a bunch of adulty people, I'd appreciate it. If not, well, derail the thread as you guys always do!
[/quote]

First off, for my college I have to pay around $530 per credit hour for 130 credit hours... leaving me at around $70,000 (this is an overestimate but only slightly). Now THAT is also a shit ton of costs... To pay for that I have two scholarships, first was a joining scholarship (joined in September so I received a "joining scholarship"... which cut shit down to $50,000... Next I also got a "Deans List" scholarship, which cuts me down another $20,000... so now all I have left is $30,000 to deal with... Now I have TWO options for THAT... Wait till I'm almost finished and join the Army [b]as an OFFICER [/b] and have my GI Bill pay that off... OR I join the Army now [b] As an E2[/b] (thx to JROTC training) and receive yet ANOTHER Discount/scholarship and that cuts me down a pretty good sum. 

So here is the thing, before you say "Yes" or "No" IF you REALLY want to join this college look for EVERY possible scholarship you can receive and qualify for. Plan your shit out and think of a way on how you'll be able to pay off the rest of it. Think of every question and plan it out. "What if this wasn't for me?" "What if something happens and I can't finish?" "How much am I willing to lose for this education" "Can I receive the same education for a lower cost?" "Does it matter to my employers where I receive my degree?" "What other benefits does this degree give me?"

Once you answer those questions you should be able to determine for yourself if that college is good for you, or not. but don't answer too soon without committing yourself to some research too.Set yourself a plan and figure out how you are going to pay for that schooling...

Also, don't put yourself in chains and set on one thing until you know that is the life you really want first. If you're sure you'll enjoy that line of work, than by all means do it... but if you're unsure than maybe take an apprenticeship or look into the job... as should you look at other jobs that you might also enjoy as well. Keep an open mind on this sort of thing.

Edit:

Forgot the moral of my story...

"Just because it SAYS it would be that big of a price, does not mean it will be that price."