@clarinetdad16 How did you get your numbers? Alabama is room and board, approximately $12,000 which the parents can afford. $0 cost to student.
Indiana is currently estimated at $33,000. With the parents $12,000, that leaves $21,000 cost to student.
ETA: how exactly does the student take $$ out of the equation when they have to pay the bill?
@ClarinetDad16
It’s funny that in the very same post you make fun of Alabama, you make a basic math error that throws off the cost to the student by $40,000.
$44K IU cost + $2K travel costs = $46K - $11K scholarship = $35K. NOT $25K.
That’s a discrepancy of $10K per year x 4 years = $40K error.
Basically parents can cover cost of Alabama for 4 years. Student graduates with ZERO debt.
Parents can pay up to $15K of the $35K per year for IU. Student has to come up with $20K per year x 4 years = $80,000 in debt for a Bachelors Degree. $80K in the hole before they can even go to grad school.
No one is disputing that IU is the better overall university or the better business school. That’s not even the issue. But in your zeal to promote IU over UA to the OP, you are being extremely dismissive of the amount of student debt he will accrue and how it will affect his financial future. Heck, you are not even remotely ACCURATE about his potential student debt.
@ClarinetDad16 >>>>>> “Take money out of the equation.” Post #59.
OP wants to study Finance and you suggest he not consider money (around $80 k) as part of his decision?!? Classic.
I don’t get the feeling @ClarinetDad16 is out to promote IU.
Actually, @2muchquan, I think he just likes bashing Bama. 
It’s funny because I see disparaging comments made about Alabama boosters on the site sometimes but IMO the bigger problem is the people with no real understanding of huge debts and the unwillingness to understand simple concepts like co-ops and how they lead to longer than 4 year graduation rates.
@LBad96, it’s because some of us have graduated undergrad with substantial debt. It’s not fun, and it limits your life in a variety of ways until it’s paid off.
And I had less than 8k worth of debt. Much less than 40k. (Ok, Mom2aphysicsgeek has it at nearly twice that, almost 80k,which could be very likely… but at LEAST 40k.)
Granted, OP will undoubtedly make more money than I did, if going into banking or finance, BUT - he wants to work and live in Chicago, and Chicago is NOT cheap. Far from it.
And he’s already talking about living with Mom and Dad again near Chicago, so he can pay off that debt.
So at this point, it’s a personal choice - one of the choices is whether to live with Mom and Dad for a few years after graduation and put off his fully independent adult life for a while (not to mention having money to travel, buy property, put back for retirement, or maybe an MBA, etc.) ; or to graduate debt-free, and immediately be able to start saving for grad school, retirement, a new house or condo, travel, starting a family, etc.
@Mom2aphysicsgeek That was my guess too.
Lots of people here say with absolute certainty that IU will give you so much greater career opportunity that you could ever hope to attain by going to UA … or that it doesn’t really matter at all if you go to UA instead of IU.
I can’t say that if you fully apply yourself at Alabama and take advantage of all it has to offer, that you will have close to the same career opportunities that IU would give you. You may, you may not, I just don’t know.
I can’t say that IU will open so many doors for you career-wise that it is well worth paying the extra cost, and that UA would set you behind in attaining your career goals. They may, they may not, I just don’t know.
What I can tell you with absolute certainty is that, based on the financial information you have given us, you will graduate from Alabama with zero debt, and from IU with $80K in student debt.
While I can’t see your future from whatever path you choose, I can tell you with absolute certainty that $80K in student debt, before you even begin grad school, is no joke. There are countless stories of those who took on more than they could chew financially for their undergrad education, and it created an unbearable financial burden for years.
I hope everyone who casually dispenses the advice “It’s worth it to go to Kelly” without any serious discussion of the financial realities, will just as casually dispense a check to help you out when those bills start coming in.
IMO, and it’s just my opinion, that $80K gorilla on your back that won’t go away for years will set your future back far more than going to Alabama ever will.
Based on what you have achieved so far, I believe you will succeed no matter what path you choose. I just hope your journey will be easier and more pleasant if you don’t have to drag an $80K anchor behind you as you go.
This. My opinion, too.
The key point the OP made is that his mom is pushing hard for IU.
Moms win.
IU Kelly is great school, but it is not Harvard or Wharton in terms of job placement. It might get you a better job right after college, but after that nobody in business really cares what school you did your undergraduate at. The stellar student at IU would have been a stellar student at MSU, OSU, Iowa or Alabama.
What Alabama offers is an $80,000 savings over four years. If you want to be a finance major, think about putting that $80,000 into a stock index fund and letting it sit untouched for 40 years for when you are ready to retire. If you earned a modest 5 percent after taxes, you would have more than $500,000 saved. If you got an 8 percent return, you would $1,600,000 saved. To me, this is a no-brainer. Go to Alabama or any other major school that offers free tuition, and save the money.
Ha! I guess Mom wants her baby living at home again for a few years while he pays off that debt. Hey, whatever works.
He’s like that older brother that will do anything to egg you on, hiding behind a screen name. And you guys keep falling for it.
If your parents could cut you a check for the $$ difference between the two schools, would you choose the cash or IU?
That is another way to think about it.
I spent $50K getting a law degree from a nice public school (seems reasonable looking at what it costs now). It took me 10 years to pay that off. I could have done it sooner if I had really focused on it and accelerated the repayment, but my point is that you don’t realize how long those loans can hang around.
Student loan debt is mostly a sure thing, right up there with death and taxes (there are some limited exceptions that I wouldn’t want to count on).
Why don’t one of the Bama boosters lay out the rankings for Kelley and list a few of their prominent alumni?
I will start with one who scraped his money together and transferred in and did okay for himself. Mark Cuban
I am an IU grad with a BS in Accounting. I am thankful for my degree from IU. I believe my degree is responsible for me getting a good job and having a successful career.
Given the difference in cost, I would advise my daughter to take the deal at Bama and save the money for graduate school.
@ClarinetDad16 - I respect your opinion, and get what you’re saying. Nobody disputes that Kelley is a great option.
A Birkin handbag is a great option for me too, but I don’t carry one.
I’ve heard Mark Cuban tell young adults to continue to live like students and save save save. When you’re in debt your options are much more limited. There is freedom in your finances being flexible and able to change direction easily.
@LBad96, serious question: How much debt will you have when you complete your degree at UNCW? I think, given that you’re a college freshman, it would be helpful to the OP to know, so he has some context about the advice you’re offering.
Nobody is claiming Culverhouse is a better business school than Kelley, but you act like cost is no issue. Sorry, I live in the reality-based universe, where if you can’t afford it, it’s not an option.
OP, I have no idea how the money will shake out for you, but most state flagships don’t offer need-based financial aid to OOS students. IF you can finance Kelley with no debt beyond Stafford loans, then they may be worth it to you to be able to graduate with a Kelley degree. Beyond that, I don’t care what school you’re considering–I wouldn’t advise a student to choose Wharton if it required debt beyond Stafford loans. Others here, with no skin of their own in the game like @ClarinetDad16 would likely tell you it’s an “easy choice.”
He thinks he’s performing some kind of public service, apparently. I just don’t get where the relentless animosity is coming from.
@SouthFloridaMom9 - people are underestimating the cost at UA. Conservatively by $20k over 4 years (travel and the other costs - look at their website).
People are overestimating the cost of IU - he could qualify for financial aid - he just mentioned merit. Conservatively that takes $20k off the 4 year cost with a minimal need amount.
So as we also know moms rule the roost. She wants the kid at IU near her and at the better school. Say she agrees to split the difference with the kid and pay $20k more for IU ($5k a year - or just $2k more than her “range”).
Now the OP just needs to take a basic student loan for $5500 a year and he can choose Kelley and tap into a fabulous school and alumni network. That is certainly worth in my book choosing Kelley 100 times out of 100.