<p>Well, my Early Action round of decisions has officially ended and I've been accepted to all the schools I applied to (University of Michigan, Michigan State University, Howard University, University of Alabama, Western Michigan University, and Auburn University) , including my dream school, the University of Chicago.
I plan to major in economics, so you can see why this is so important to me.</p>
<p>The only problem is that although I am a University Scholar, (which translates to 5k per year all 4 years), my parent's combined salary is near $200,000, and I have two young siblings (age 5 yrs and 8 months. I'm worried that I will not receive significant financial aid and I've always wanted to go to school for free--or at least almost free.</p>
<p>So far, I've been offered full rides to: FAMU, Howard, University of Alabama, and Auburn University
It's likely that i'll receive free rides to the University of Michigan and Michigan State University (Honors College) , as they are my state schools</p>
<p>Any advice on which road to take?
Much Appreciated. :)</p>
<p>Go to college for free or as little cost as possible for sure. If you can go to Chicago for a reasonable amount, head there as it is your dream school. Otherwise go to Michigan. It has a highly rated economics department and is the second best school on your list for it.</p>
<p>^I agree. There is a considerable quality gap between a number of the schools you listed compared to Chicago which would make me take on some reasonable amount of debt to attend the better school—But Michigan is an exception to that. If you can go to Michigan for free and would incur substantial debt to go to Chicago, go to Michigan.</p>
<p>I’m a Chicago alum and agree completely with rjkofnovi and bonanza. Don’t go into heavy debt if you can go to a great school like Michigan for much less.</p>
<p>That said, if for any reason you don’t think Michigan is a good fit, for example if you’ve decided you want a smaller school (or you just want to go away), you still have time to add to your list. If you’ve been offered $5K in merit aid by Chicago, chances are you could get significantly more from other, somewhat less selective private LACs or universities.</p>
<p>The good news is, it’s only December and you already have some excellent choices. Congrats.</p>
<p>Talk to your parents about it to see how much of a burden the University of Chicago would be for them. You’ll probably be paying full price, but maybe your parents can handle it.</p>
<p>Thanks for the very helpful responses, guys.</p>
<p>Yes, tk21769, I did want to go away for school so i’m a little hesitant to go for U of M-- it’s only 30 min away. it IS a great school though, as you pointed out, so of course I need to debate it more. and thank you for that last comment :)</p>
<p>I attend a private liberal arts college, did not qualify for financial aid, and currently have a sibling who is also in college. If your parents’ combined income is near $200,000 then I’m sure they won’t mind shelling out some money every year to guarantee you the best college experience. With your merit-based aid and whatever financial aid you can get from the schools, I’m sure it will amount to very little debt at most.</p>
it IS a great school though, as you pointed out, so of course I need to debate it more. and thank you for that last comment :)</p>