<p>I'm deciding between 2 schools. An instate school that where I get a $4k scholarship ($16k all four years) and will only cost about $20k each year (80k all 4 years) or an oos school with no financial aid (5k stafford loan) that costs 40k each year (160k all 4 years). I'm middle class meaning my parents can pay 15k (from efc on fafsa) at most each year.</p>
<p>The thing is, the oos school is much better than the instate school.<br>
The instate school is a mid-tiered UC (think UCSB, UCI, UCD).
The oos school is a school on the level of UTexas-Austin, UVA, Indiana U.</p>
<p>I got into the business program for the oos school and think the career prospects are much better there compared to the UCs.
What role should cost play in my college decision?</p>
<p>Well…simply put…can your parents pay the costs for you to attend the OOS school? It doesn’t sound like it from your OP. It sounds like they can pay $15k or so. Your parents would need to be willing to take a Plus loan OR cosign a loan with you for the additional costs of that OOS public.</p>
<p>You need to discuss this with your PARENTS as they would be the ones put in the financial bind of loans for your education. You will need to work within the price range they set for you. If the OOS public is too expensive, you might want to consider it for grad school.</p>
<p>In the grand scheme of things, the difference of education offered at the OOS “UTexas” type school vs. the in-state “UCSB” is unworthy of paying an extra 80K!! Same goes with whatever slight edge you imagine/project that the OOS schools would offer career-wise. Also, most employers won’t care if you graduated from a big public in Texas, California or Indiana–they are all similar enough to not really make a difference.</p>
<p>Already it sounds like an in-state school tuition will be a tough stretch for your family. I think the decision is obvious and that you are grasping at small straws to find a justification to tilt your family toward taking on an extra 80K in debt. Not a good plan I assure you.</p>
<p>The thing is, the oos school is much better than the instate school.
The instate school is a mid-tiered UC (think UCSB, UCI, UCD).
The oos school is a school on the level of UTexas-Austin, UVA, Indiana U.</p>
<p>These are not significant differences AT ALL…certainly NOT WORTH extra debt.</p>
<p>Besides…YOU will not be able to borrow those amounts of money. And it doesn’t sound like your parents will qualify or want to co-sign such loans. What are your parents saying?</p>
<p>Also, most employers won’t care if you graduated from a big public in Texas, California or Indiana–they are all similar enough to not really make a difference.</p>
<p>Just because the FAFSA EFC says your parents can pay $15K per year doesn’t mean they can actually pay $15K per year. Have you talked to your parents? How much can they pay?</p>
<p>Looking at the CoA of your in-state school minus the $4K scholarship and $5.5K Stafford loan - $9.5K altogether - you have $10.5K left to pay. If your parents can pay $15K out of pocket then they have no debt. They can even pay your part of the Stafford loans, since they can pay $15K, so that means <em>no one</em> has debt in this situation. This is good.</p>
<p>At the other school, you have NO financial aid. If your parents can pay $15K out of pocket they have to borrow $20K per year, or a total of $80K. Can your or your parents even qualify for a $20K loan every year? Even if they could, can they pay back $80K in debt? Is the difference in schools really going to be worth $27K for you and $80K for your parents?</p>
<p>You are going to be a business major, so think about this in terms of ROI. (return on investment) View this decision through this lens.</p>
<p>And what has been already pointed out is quite true. Most employers don’t care what school you graduated from. What they care about is the value you bring to their company.</p>
<p>For business degree, I think I will have a hard time to pay the price tag since there are so many out there and the demand is low and salary are low. So, any school that will provide you with a business degree with the least amount of loan will be my pick. However, others may not agree with me. Good luck</p>
<p>^With all due respect, if he means business schools such as Kelly at IU, there is a differentiation of the programs.</p>
<p>That said, I can’t imagine any OOS undergrad program (even Kelly or Ross) is worth the financial strain for a family with a $15k EFC, and the poster may find that an MBA is more germane to his ultimate employment prospects, in which case the instate degree at the UC makes the most fiscal sense to completely avoid debt, thereby conserving capability to afford a top tier MBA program.</p>
<p>That assumes, of course, that the poster will also work while in school and save over the summers to contribute the $5,000 COA shortfall between what his parents can afford and the instate program costs.</p>