College decision - WWYD?

[Pinkpony]

We're in a college dilemma here at our house and looking for unbiased (non-family/non-friends) opinions. It's a great dilemma to have, but a dilemma nonetheless to us.

My twin DS applied to several colleges for the fall. They decided to go to our local university (17,000 students, not nationally known) on a full tuition waiver.

They turned down the local private school (2,000 students, also not nationally known) after receiving partial scholarships. They would LOVE to go here, but we're all cheap wads.

A couple of days ago, the private school called and offered them more scholarship money. Tuition is $16,600 per year. Scholarship offer is now $10,000 per year. Leaving us with $6,600 plus $1,500 in fees plus books to cover ourselves (times two because it's twins, you know).

Private school has a very good local reputation, especially for pre-med and business, which is what they are looking at to major in.

Local state school has an acturial science program (only one in the state) that one of them is interested in, but is also looking at accounting.

Enrollment at private school is tomorrow and it's an all-day shindig. Costs $250 per kid. So we're at crunch time here for a decision. I could just go ahead and send them and enroll them, but it's nonrefundable.

Would you DIS parents spend the extra $16,000 to $18,000 per year to send them to the private university or take the cheap way out (like we tend to lean towards). Yes, we can afford the extra $$, but we've always watched our nickels and dimes so it would be hard to part with.

We think the private university is offering them a great deal and hate to turn it down, but so is free tuition at the local state school.

Help!

Pink

 

[eeyoremum]

yes I would spend the money on the better school. They are old enough to work and contribute to their education if necessary.

Personally, I feel it is my responsibility to education my children through one diploma of college or university. I also have the expectation that they will go to college or university after highschool.

 

[zurgswife]

If the private school has the degree paths that they are looking at, they would be happy attending, and the scholarship money helps make the decision easier. I say YES.

 

[mickeyboat]

Assuming that one school is not substantially better than the other, and that your children would be happy at either school, I would choose the larger, public school.

First it will save your family a ton of money. Your sons will be free from debt when they graduate and won't have to work while in school. This will allow them to explore other interests, unpaid internships, travel, etc.

Second, there will probably be more extra-curricular opportunities at the larger school.

Third, there will probably be more networking opportunities at the larger school, so that when they graduate, it might be easier to find a job.

Not an easy decision. Good luck!

 

[OceanAnnie]

We're in a college dilemma here at our house and looking for unbiased (non-family/non-friends) opinions. It's a great dilemma to have, but a dilemma nonetheless to us.

My twin DS applied to several colleges for the fall. They decided to go to our local university (17,000 students, not nationally known) on a full tuition waiver.

They turned down the local private school (2,000 students, also not nationally known) after receiving partial scholarships. They would LOVE to go here, but we're all cheap wads.

A couple of days ago, the private school called and offered them more scholarship money. Tuition is $16,600 per year. Scholarship offer is now $10,000 per year. Leaving us with $6,600 plus $1,500 in fees plus books to cover ourselves (times two because it's twins, you know).

Private school has a very good local reputation, especially for pre-med and business, which is what they are looking at to major in.

Local state school has an acturial science program (only one in the state) that one of them is interested in, but is also looking at accounting.

Enrollment at private school is tomorrow and it's an all-day shindig. Costs $250 per kid. So we're at crunch time here for a decision. I could just go ahead and send them and enroll them, but it's nonrefundable.

Would you DIS parents spend the extra $16,000 to $18,000 per year to send them to the private university or take the cheap way out (like we tend to lean towards). Yes, we can afford the extra $$, but we've always watched our nickels and dimes so it would be hard to part with.

We think the private university is offering them a great deal and hate to turn it down, but so is free tuition at the local state school.

Help!

Pink

Why did the private school call to increase the scholarship money? The reason is key. I would bet they may increase it more if you play your cards right. I would see how that plays out. It sounds like the private school really wants your DSs.

 

[LMulligan]

Honestly, I would go with the larger public school as most careers these days require an advanced degree. From the sound of your post OP, it sounds like your children are on a professional career path.

By getting a free undergraduate degree, your family will be in good financial shape for when the twins decide to purse their MD and MBA degrees

 

[Darcy03231]

Also, keep in mind that these are their awards for Freshman year only. There's no guaranty they will get these same awards going forward. If they don't get the awards next year can they afford to keep going to that school?

I'm also in the camp of attending the public university on the tuition waiver. If one of your children is planning on going to med school I would save all available money to put toward that.

 

[OceanAnnie]

You may want to call the private school back and let them know the public school is offering a full scholarship to your sons. If they want them badly enough, they will do the same.

 

[sam_gordon]

Who says they both have to go to the same school? What do the KIDS want? (doesn't mean they get it, but what would their choice be?)

I think you have to weigh all the pros & cons, not just the $$. Yes, private schools give you lower teacher:student ratios, but there are more opportunities (classes/extra curricular activities) at the larger school.

Sorry, not much help. I would hope one kid wants to go to the private school and one wants to go to the state school.

 

[collegejunkie]

you said the private school is only LOCALLY known for having solid pre-med/business programs. that doesn't help them when they get out into the real world, unless you're in a huge city where people will care.

that said, it's possible that student-professor interaction and facilities will be better at the private school. if your kids are really into the private school and you can afford it, then let them go there.

 

[dakcp2001]

Honestly, I would go with the larger public school as most careers these days require an advanced degree. From the sound of your post OP, it sounds like your children are on a professional career path.

By getting a free undergraduate degree, your family will be in good financial shape for when the twins decide to purse their MD and MBA degrees

I agree with this advice 100%. Also I would suggest not choosing a school based on major alone because most students change their major at least once before graduating. You cannot beat free! That is the kind of deal you do not pass up.

 

[Disney845]

I think the larger public school.

You said that neither school is really "known" outside your local region. That means that the "name" on the diploma of the private school will probably not carry more weight for the twins when/if they go on to apply to graduate programs and the like.

If the state school has the programs available to them in the fields they are looking at, then I see no benefit to expending an unnecessary $16,000+. As another poster mentioned, if they carry on to graduate (and further) programs, then that money could potentially come in handy down the road.

A full scholarship is something I would not turn down unless there was a driving need for them to attend the private school (only school that offered a particular degree program, etc).

 

[dakcp2001]

Also, keep in mind that these are their awards for Freshman year only. There's no guaranty they will get these same awards going forward. If they don't get the awards next year can they afford to keep going to that school?

I'm also in the camp of attending the public university on the tuition waiver. If one of your children is planning on going to med school I would save all available money to put toward that.

This is also important to consider, what happens if they go to the private school and all that additional funding is not awarded next year? Do you have the means for 3 more years for each child at full price or is the school banking on the fact that once the kids are in there they will most likley not want to go elsewhere sophmore year? Can you break it to the kids that they might have to transfer if they do not get the same financial offer after freshman year?

Do you think your kids might want to study abroad? The extra money might be better spent for that than the private school.

 

[RitaZ.]

I'd steer them toward the state college/university. Save your money to help them through graduate school.

Good luck!

 

[RitaE]

If it were my kids I'd strongly point out that other factors being equal - free college is not something to lightly turn away. Med School is expensive and very rarely free. They'll need whatever money you have now for that.

 

[Diegosmom]

I will speak from experience. I went to the expensive private school and when I came out I owed $50,000. I started paying it back in Jan 2002 and will be done next year around May 2012...10 years (I was unemployed and didnt pay for about 6 months) at about $400 each month. Yeah that is a huge chuck of change every month for something I already earned (at least with a car payment you get the title in the end). Did I love my school? yes Did I learn alot? yes Did I have a unique experience? Yes (School is project based, 5 classes of your choice in humanities then a project worth one class, I chose theatre, 1 junior year project, using technology to help society worth 3 classes, I went to Venice Italy for this, senior year project in your major worth 3 classes, I went to Sydney Austrailia for this). I did get an education I would have not have received anywhere else...but was it worth it? I was able to do thearte and travel the world...but I did so at a cost ($50,000 not including what mom and dad payed or for everythink OP like books). If I went on a full ride somewhere else I could have just taken summer trips to Venice of Austraila and been ahead moneywise. Also my degree was in Civil Engineer I went to a well know engineering school and it actually got me my first job (because of the school, they only recruited there) also when I moved to NC I could not find a job. No one know my school name (very popular up north not so much down south), finally found a job after 6 months because hiring manager was originally from up north and dreamed of going to my school but couldnt get in but otherwise no one know about it.

So whats my point...lol was $50,000 worth it. I would have to say no. If I had to do it again I would probably go a different path. Could the boys go 2 years at the free school and then transfer in? I would probably go that way (although making friends is harder). But I think back to that $400 I have been spending every month. I could be putting that away into retirement and I would have way more then $50,000 by now...

 

[Tinker'n'Fun]

In the words of my daughter who was in the same situation:

As an accounting student, I can graduate from both schools as an accountant. One with loans in the 30,000 range or one in the range of 3-4,000 range. The future accountant in me can not deny the difference. She is at a local school, decided to dorm for freshman year, so is it about $1500.00 in loans. Her degree is 5 years.

The local university has job fairs with many major companies who hire right off the campus. Same as the private school does, but the private school made it sound like they were exclusive to these companies, NOT!

Good luck with to your children with their decisions.

 

[goofy4tink]

I think the larger public school.

You said that neither school is really "known" outside your local region. That means that the "name" on the diploma of the private school will probably not carry more weight for the twins when/if they go on to apply to graduate programs and the like.

If the state school has the programs available to them in the fields they are looking at, then I see no benefit to expending an unnecessary $16,000+. As another poster mentioned, if they carry on to graduate (and further) programs, then that money could potentially come in handy down the road.

A full scholarship is something I would not turn down unless there was a driving need for them to attend the private school (only school that offered a particular degree program, etc).

While generally speaking, most people don't recognize a particular school, other schools could very well recognize the name.

I have a friend who graduated from Vassar. Not a ton of scholarship money was to be had. Her sister went to a state college..obviously, many fewer dollars were spent there. And you know what my friend says??? That while she can say 'Oh, I went to Vassar' her sister actually got at least as good an education, if not better in some regards.

My dd is a junior. Well, I guess she's officially a senior today. She gets decent grades. Wants to major in theater and/or Communications, or possible just LibArts. She can go to a Mass state school for under $20,000 a year and get a very good education. Or, she can go to a 'better' school, and graduate with a ton of student loans. My dh and I feel it is up to us to do all we can do to help her in college. We can afford to pretty much pay for a state school. But if she chooses a private school??? We'll help with what we can but she'll have debt when she graduates. And then, there is graduate work.....it's usually better to save that 'better' school for graduate studies.

 

[mamacatnv]

My DS refused to attend a college that was the same size as his high school. He attends the public Univ. with 17K students and loves it. In exchange for the low in state tuition we do pay we pay for him to live on/near campus.

Everyone is happy - OP I'd go the free route, the additional expenses sure add up fast - housing, food, books etc.

 

[krcit]

Honestly, I would go with the larger public school as most careers these days require an advanced degree. From the sound of your post OP, it sounds like your children are on a professional career path.

By getting a free undergraduate degree, your family will be in good financial shape for when the twins decide to purse their MD and MBA degrees