<p>I am considering applying to CMU as a CS major but I'm not sure if it's worth it since they are known for the really bad FA. I am in their range for ACT and GPA and am part of numerous EC's and volunteer, sports and have multiple leadership roles. So I have a pretty good shot at getting in. But my family's total income is between 60K-70K and CMU isn't really helpful on FA front. I only have 2K in scholarship money so far although I'm trying to get more. My parents say the most they can probably contribute is 15K a year since my sister is also in college. I know CMU is great for CS and soo many opportunities for job recruitment, internships, research etc but is it really worth that debt/loans? Plus, other than academia I'm not sure if CMU environment is really for me. It seems intense and really competitive. Does anyone have insight on that, or the FA side?</p>
<p>Well, first, you haven’t even gotten in yet, but it’s unlikely to be worth a ton of debt. Not to mention that there is only a limited amount of debt that you can take out.</p>
<p>Also, you don’t actually know what their FA is yet. Also, their CS program will be far harder to get in to than CMU overall.</p>
<p>What state are you in? What stats? National Merit or no?</p>
<p>Not worth a bunch of debt.</p>
<p>However, I think you would get more aid than you think.</p>
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<p>??? </p>
<p>is that income “net”? Is it a net business income? how much are your parents paying for your sister?</p>
<p>I don’t see how a family that earns $60-70k per year AGI, with 2 in college, could pay $15k per year for one child’s costs.</p>
<p>My parents earned in that range (around 70k, I think) and said they could put in 10k a year. And our EFC was about $34k. I come from an exceptionally frugal family.</p>
<p>It’s hard to predict costs at this point, even if you do get in. CMU has a fantastic CS program - one of the best in the country. But it’s not worth $40,000 a year in loans. There are a ton of great schools that will offer you a much more affordable CS education and still give you great prospects when you graduate.</p>
<p>I think CMU will let you do an estimate - you fill out a detailed form online and they snail mail you your estimated cost if you were to be accepted around a week later. That could help you decide on whether to apply or not.
I’m thinking of doing that for my D.</p>
<p>Run the Net Price Calculator on their web site.</p>
<p>First you get in and get a FA package - then you decide if it’s worth it or the right school for you. If it’s totally the wrong place, don’t apply, but until you have everything in front of you, it’s a mistake to assume anything.</p>
<p>The CMU net price calc is very generic though - basically just asks for family income & number of sibs.</p>
<p>I’d say a CS graduate from CMU has an edge in the job market place. Their graduates are treated differently from a garden style State School in companies like Google, Amazon and Microsoft. Without being admitted and knowing the aid package it will be your biggest regret not to apply.</p>
<p>Are your parents self-employed?</p>
<p>Is the $34k EFC with 2 in college?</p>
<p>I don’t see how an income of $70k would get an EFC of 34k. That’s half their income. Unless you have really a lot of assets.</p>
<p>Just apply and see. You might not get in.</p>
<p>The CMU computer science kids tend to do well out of school, with a self-reported median starting salary of $100,000:</p>
<p><a href=“http://www.cmu.edu/career/salaries-and-destinations/2014-survey/SCS%202014%20One%20Pager.pdf”>http://www.cmu.edu/career/salaries-and-destinations/2014-survey/SCS%202014%20One%20Pager.pdf</a></p>
<p>CMU is beyond “great for CS”, it is a far better and more marketable degree than 90% of the programs out there.</p>
<p>It is undoubtedly worth the admissions fee and time it will take to fill out the common app supplements.</p>
<p>When you get in, you can compare CMU’s cost - increased earnings potential with your other options. I would say financially speaking it is worth max around 100k extra vs another school not in the top 25.</p>
<p>Don’t worry about this until you actually get in.</p>
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I don’t see how an income of $70k would get an EFC of 34k. That’s half their income. Unless you have really a lot of assets.</p>
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<p>Yes, lots of assets. And the OP may have misreported income. He may be reporting net income, net business income, or whatever. The family may not have their retirement savings in protected assets. They may have stocks/bonds, properties, etc. </p>
<p>CMU’s EFC is going to be lower than your FAFSA EFC; actually, they’re giving me around 101% of the need-based aid FAFSA would predict but it’s not quite that much by CMU’s own measure. Income range is 100-150k, though.</p>
<p>I can’t make the decision for you, obviously, but as a freshman at CMU- here are some things I’ve seen that might make it a great environment:</p>
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<li><p>In Mudge, one of the dorms (the one that most people prefer, actually), there’s a group of 5 sophomores who got specialty housing with the mission of helping people “make cool stuff.” They just had this really nice Arduino training two days ago (great for beginners) and if you don’t find yourself liking their training, you can literally walk in there anytime and they’re there to help. I think that’s says a lot about CMU’s community. Actually, there’s a lot like this- CMU’s a place where you can say “I don’t know any of this” and people will help you. It’s very intensely collaborative- I’ve seen people just put everything aside to help out others. Heck, TA’s for most of my classes are going above and beyond what the instructor asks by hosting extra help sessions on top of office hours, scheduled help, etc.- they’ve loved the environment so much that they’re giving back. It’s an amazing environment to learn- not just because of the faculty but because of the community.</p></li>
<li><p>Speaking of the five people who’ve dedicated themselves to helping out us clueless freshmen, here’s a story: one of them just came in with some bare-bones Java experience and wanted to work with robotics (no experience in that field). He joined the Robotics Club, put himself to the task, and at the end of first semester he was able to work in one of our Robotics labs (CMU’s Robotics program is ridiculously good, I’d say the best one out there) with a very accomplished professor. He also decided to sit in on an 800-level (600 is the lowest level of graduate course) course and the professor walked up to him and asked him why he was there (it was a small class)- that semester, he was allowed to take the course. If you’re a motivated individual, CMU is incredible.</p></li>
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<p>This does sound a lot like advertisement or like those people who go around CC promoting their own school, but it’s coming from someone who wasn’t even planning to apply to CMU (actually, I don’t even remember adding it to my list). But the environment has been everything I’ve wanted, and then some. It builds character and collaboration- and not just in CS. If you want to do something, CMU has the resources, the training, and the community to make it happen no matter how unrealistic it might seem.</p>
<p>So don’t just think of CMU as a chance to get a great job and make money. It’s a lot more than just a “program.” It’s a community where people come together and help one another accomplish their dreams. If that resonates with you, and if you’re willing to invest yourself and put in a bunch of effort to make it a great experience (it’s week three and a lot of people are already struggling- but struggling is not a bad thing here because help is incredible and plentiful), then I’d say CMU is worth paying as much as you can. If it falls outside the max you can pay, though, that’s a risk you’ll have to evaluate and I’d be hesitant there.</p>
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<p>Those big companies recruit widely, although there is still a tendency for graduates to go to local companies. Microsoft appears to hire a lot of state school graduates (University of Washington in their back yard), for example.</p>
<p>For smaller companies, CMU is probably advantageous over other non-local schools, since, if the small company is willing to recruit non-locally at all for CS majors, CMU is very likely to be on the list.</p>
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Don’t make such gross assumptions @dividerofzero. Things like a non-custodial parent or a family owned business can make CSS Profile institutions expected family contributions MUCH higher.</p>
<p>@“Erin’s Dad” Yeah I was just reading over my comment and realized that could be inaccurate and the logic certainly wouldn’t pass in a formal logic class. >_< In any case, I think CMU’s more generous with how much financial aid someone ought to get- but then again, its resources are pretty limited for an institution of its caliber.</p>