$21k state or $100k private, prestigious

Paying for College
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<p>Here's my situation: I've been accepted to ucla, uc davis, and harvey mudd. I know Harvey Mudd is probably the most prestigious of the three. I'm torn between all three because of the finances.</p>

<p>UC Davis is a good school, but it's not as prestigious as let's say Mudd. But they're giving me $7500/yr (regent's scholar), plus advanced class registration, and membership in an elite student/professor organization(meaning I'll be able to do a lot of networking with professors). I estimate that I'll graduate with 21k in debt.</p>

<p>UCLA is a little more highly ranked than UC Davis, but they're not giving me any money. Class registration might be a problem, and I'm worried I might end up taking another year, wasting a couple thousand just because I couldn't take a class. However, I don't live too far, and so that cuts down on travel expenses a lot. I estimate I'll graduate 50k in debt.</p>

<p>Harvey Mudd. #1 undergrad engineering. Great professors, great opportunities. #3 in average salaries (although I understand this could be because their student body is the "smart" crowd at my two other unis). I don't anticipate any financial aid, meaning my parents will be stuck paying their EFC (perhaps more). I'll end up almost 90k in debt.</p>

<p>I want to go on to a prestigious grad school, like MIT, Stanford, or Caltech.</p>

<p>I'm worried if I go to UC Davis or UCLA, I won't be as attractive to grad schools. Will I get the opportunities I want? </p>

<p>If I go to Mudd, I'm sure I'll get the opportunities, and I'll probably be accepted into a good grad school. If I go to one of the UC's my grad school acceptance chances, statistically, aren't as high. I'm scared that if I go to the UCs, I won't be accepted by grad schools, because I feel that my choice in high school might have contributed to the fact that I didn't get into some of my other schools (MIT, Caltech, etc).Is my thinking off?</p>

<p>I'd appreciate input from people from all sides of the debate: those who have graduated from prestigious institutions and have been able to pay back their >100k debts, those who took the lower-prestige institution and paid off their debts and got into the great grad school.</p>

<p>I've noticed from other threads two soapbox arguments: either rich students are telling me to go to the prestigious school, because it will get me the higher paying job, and I hear parents say choose the less prestigious option, because I'll work hard and eventually get into a big grad school and do really well there.</p>

<p>To the rich students: I need the money.
To the parents: I'm not guaranteed a place in grad school if I go to the lower prestige schools (I'm not guaranteed one at mudd either, but statistically, I have a better chance).</p>

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<p>I would suggest you save your financial resources for grad school. Got to UC Davis…and get fabulous grades, network with the profs, do some research…and set yourself up for an excellent grad school.</p>

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<p>(I’m going to try and argue with everyone, just because I find argument brings about the best in my decision making)</p>

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<p>But if I go to UC Davis, I’ll once again have to go through this college application/admission process. Like I said, if I go to Mudd, I have a higher probability of going to grad school.</p>

<p>What if I do well at Davis, save my money, but then end up not going to grad school, because I didn’t get in?</p>

<p>I’ve found that you only regret the things you did not do, never the things you did. However, in this situation, no matter what i DO, I wouldn’t have done something (whether that be go with the best financial option, or go with the best academic option).</p>

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<p>Definately UC Davis, save the debt for graduate school. All three of the schools will place one in top graduate schools. To think a respected school well recognized by USNEWS ( as it gives at least an ideal of the school quality) would be a misunderstanding.</p>

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<p>OP, if you own 100K undergrad, how do you pay for you grad school? More debt?</p>

<p>Look at this list, there must be a poor soul at UC-Davis who made it to Harvard MBA, for example, [Undergraduate</a> Institutions - MBA - Harvard Business School](<a href=“http://www.hbs.edu/mba/profiles/undergrad.html]Undergraduate”>People - MBA - Harvard Business School)</p>

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<p>Regardless of where you go to undergrad school…you will still need to APPLY and be ADMITTED to grad school. There is no guarantee that going to Mudd will put you further ahead.</p>

<p>I can argue too…suppose you go to HMC and your overall GPA is under 3.0? Would that position you to go to a prestigious grad school? I seriously doubt it. Grad schools look at what you have accomplished.</p>

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<p>You might not get into grad school out of HMC either. BUT if you go to Davis, at least you won’t be saddled with more than $1000 a month loan payments for TEN years…and yes…that is what you would be looking at if you have $100,000 in loans to pay back.</p>

<p>AND where are these loans going to come from? Are your parents willing to cosign for these loans…because you certainly aren’t going to be able to get them in your own name without a cosigner.</p>

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<p>Good link, for example: do you think the student(s) from say Ball State University or Arizona State University would be excluded from admission at Harvard for MBA 2009-11…; they weren’t at all. Although we do not know the students accomplishments, stats etc… I would assume they accumalted little debt as an undergraduate.</p>

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<p>But if I go to HMC, and don’t get into grad school, at least I can say I went to a prestigious undergrad. UC Davis, not so (although still a great school).</p>

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<p>If all you care about is prestige and not the bills you will be accumulating…then go ahead and try to get $100K worth of loans. Sorry…I think your priorities are not quite right. Saying you went to a “prestigious” undergrad school will NOT pay your loan payments. Sorry…just won’t be a happening.</p>

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Stating this would matter the least unless it will provide you a job you aimed for. Harvy Mudd is a great school though UCD is also, I think both will prepare one to attend a excellent graduate school. Both also will prepare one for the workforce in their area of study.</p>

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<p>Ok I’m beginning to see your point Coolbrezze. I will have to talk to the fin aid people at HMC and see what they can do for me, if anything. If they can’t lower the debt substantially, I think I’ll choose Davis.</p>

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<p>This makes the assumption that graduate admissions is a random chance for the graduates of any university. This is an invalid assumption.</p>

<p>The top graduates of lesser universities generally get better research and internship opportunities along the way than the lower graduates of better universities. Your graduate admissions chances are a function of your test scores (GRE,LSAT,etc.), your GPA, and your recommendations (a function of your research opportunities and internships). </p>

<p>Additionally, if you’ve dug yourself a pile of debt, finances may also limit or defer your grad school choices.</p>

<p>One last thing, you won’t find anyone here on CC who has paid off $100K in college debt - that takes tens of years. You will find people here who came out without overwhelming college debt and were able to start building their financial futures immediately.</p>

<p>Don’t know about your specific field of study, but you should probably ignore HM and look carefully at UCLA to see if there is enough advantage in your specific area of interest that would make it worth the difference over Davis. I don’t know how you stack up against both entering classes (a good indicator of how you will fare once there), but I’d not take on debt to be in a situation where you aren’t in the top quarter of your class.</p>

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<p>I’m thinking of computer science or computer engineering.</p>

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<p>Your young adult life will be miserable with that kind of debt. The rest of your peers will be moving on with their lives…getting married, buying homes, etc…while you’ll be drowning in debt between the ages of 23 -33…Gee, how fun! </p>

<p>How much do you really think you’ll enjoy saying, “I went to HMC,” during THAT time, while those who got their educations with little to no debt are having better lives than you are? Well, I guess you can get some enjoyment by looking at the name on the sheepskin on the wall.</p>

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<p>I’m afraid I don’t quite get your notion that UCD will not position you to get into grad school. Davis is an excellent school, and admissions officers are well aware of that. From this and another thread, I think you’re a little hung up on rankings. Throw away the USNWR! </p>

<p>All three of these schools are very good and very prestigious. Two of them are well-known to the general public (guess which one isn’t), and all are well-known to grad school admissions officers. Any of them would be a good choice educationally. Financially, one of them would be really super-stupid, one of them would be semi-stupid.</p>

<p>It’s a no-brainer: UC Davis.</p>

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<p>Thanks to you all for your advice. I was too hung up on rankings. After much consideration and after talking it over with my parents, I think it’s going to be Davis, they really want me and they have the finances and perks to prove it. So unless hmc gives me really good financial aid, I’m going to be saying I got into hmc but decided not to go.</p>

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<p>Thank goodness…a glimmer of sanity and hope in the wasteland of rankings and entitlement! Good luck at UCD…I’m sure you’ll shine there and be thankful you made a smart choice for decades to come! If you have the opportunity, please encourage your friends and classmates to look closely at the programs and opportunities offered at some “lower” schools and make wise decisions too…it’s always best to consider all possibilities!</p>

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<p>travfar…I’m sure this will all work out for the best.</p>

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<p>Good decision. I know that at this point in your life, you can’t know what it’s like to live with staggering debt. But ten years from now, I guarantee you will know a few people who are struggled with repaying massive student loans, and you will be very glad you aren’t.</p>

<p>Enjoy Davis! It is a fine school, and you don’t need to make any excuses or apologies for choosing it.</p>