That’s fine but understand that you can only borrow $5,500 the first year and up to $7,500 in the fourth year. So if a school is $80K, you’ll need a lot of help to make it work in that year that’s on you.
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If this is your goal, don’t forget that year after year, the industry gets more spread. Wall Street is now NY…but also NJ, Boston, Nashville, Charlotte, Atlanta, Phoenix, San Fran, Chicago and more and when you see the bios of bankers and fund analysts, etc. - of course the top programs will always do well but there’s plenty of Colorado State and Nebraska and name your school too - so one can get into investment finance/banking from any where - if you’re able to make the connections.
Well - enjoy the journey - you’re ahead of the curve.
Good job.
Rules and restrictions:
If you apply to another school during Early Action that does have a restriction, MIT requires that you respect those rules.
OP can apply to Penn ED and MIT EA.
MIT EA has no restrictions on where else one can apply, but if an applicant does apply ED elsewhere and they are accepted, they are bound to that school. MIT asks that students respect that rule.
Similarly if a student applied to an EA school that restricts other private school EA apps (like Harvard), then one can’t also apply to MIT EA.
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Based on my very fallible judgment, this is how I would classify your current list (with the additions of IU and U. Mass that you mentioned in a later post:
Guaranteed (100%)
- IU Kelley
Extremely Likely (90+%)
- U. Mass
Likely (60-90%)
Possible (25-55%)
- Boston College
- NYU
- UVA
- U. Michigan
Unlikely (less than 25%) These are unlikely simply because there are so many more qualified applicants than there are spaces available. You may well get into some or all…but you could get into none. Due to the odds, these are classified as unlikely.
- U. Penn (14.9% ED rate)
- Harvard
- Duke
- Columbia
- MIT
- Princeton
- Stanford
- Yale
- UC Berkeley
- UNC
- UCLA
- UT-Austin
- Carnegie Mellon
- Washington University
Have you thought about Southern Methodist (SMU)? It has a strong business program, is in a large city, and is similarly sized to a number of the private institutions on your list. You’d also stand a good chance at some nice merit aid there. I would classify it as a likely for you. I also really like IU for you and with your stats you’d be an auto admit to Kelley.
Also, I would run the FAFSA family calculator as well as the NFC at some of the colleges (including U. Penn) to see what the colleges think that you family can pay for your college. Then see if your family can/will pay that amount, or if their number is less than what the colleges are expecting the family contribution to be. That will let you know if you need to be looking for merit aid, or if need-based aid will be sufficient to cover anything (or if your family is willing to be full-pay for $80k/year).
Once the budget is firmed up it will be much easier to offer suggestions.
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As others have mentioned, good idea to have a talk with you parents about SPECIFICs. They might not realize the total cost can exceed 80K per year. They might think it’s 60 or be willing to fund it but not be able to come up with exactly that amount. You cannot be short the funds.
Babson is a great idea. Not an easy entry but good if their curriculum matches your interests and good outcomes.
Having safeties is like having a plan B. I used to tell my kids this is plan A and this is plan B. We only got to plan C once in a flash flood. They laugh, but have incorporated flexibility into their own thinking. Sometimes things go smoothly and kids get into their top choice ED. Usually that doesn’t happen.
You will do well wherever you land.
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Your stats are solid, and put you within the range for all of the schools listed above. As you probably know, getting into IB/high finance it really matters what undergrad school that you attend. While there are plenty of State U students who make their way into IB, they have to hustle. There are new programs that many banks use to diversify (URMs, LGBQ, Military), it looks like you wouldn’t qualify for any of them. Even within the top schools, getting an IB offer is not easy.
I seriously would consider you take a closer look at Chicago. Their IB placement is better than most of the schools on your list (with exception of Wharton, Harvard and Princeton). There is a new degree called Business Economics which has attracted interest because the undergrads take classes at Booth. Plus you have the option of applying EA Chicago, along with ED1 Wharton and EA MIT. If Wharton doesn’t work out, you can convert the EA into ED2. This dramatically increases your chances. Chicago has really done a nice job of making the curriculum more friendly. It also seems to hit your criteria of being in a big city.
Finally one last question: are you applying to NYU CAS, or NYU Stern? Asking because NYU has the ED2 option as well.
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UChicago definitely is a great school, I am just a bit worried about the reputation it has of being insanely boring. I understand that it may be overblown but I don’t want to go somewhere and then hate it.
I am planning on doing NYU Stern, but I am not sure what the difference is in terms of ED2?
Another consideration would be STEM with some type of financial mathematics concentration. Hedge funds love quants.
UNC isn’t direct admit to KF. Your stats are impressive but I would look at direct admit only.
Chicago , SMU and Gabelli are good suggestions. Maybe Georgia Tech.
Find two safeties like UMass and you’re set. Good luck.
My wife attended UChicago in the 1990s. It had a reputation as a place where “fun dies”. The classes were hard, lots of reading, trimester made for rapid pace. Coupled with the cold weather, it made for a lot of unhappy students.
But we know of several students in my son’s HS class who are now at Chicago. The grading standards have relaxed, the core is much reduced, and students are far happier. They have a new admissions director who is competing against east coast ivy league schools. The preparation for math/finance/econ careers at Chicago is excellent.
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I think Michigan Ross is a reach.
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I went to CMU as an undergrad and Chicago for grad school and, believe me, Chicago was a soul-sucking institution that made Carnegie Mellon feel like party central! Wanna go to Chicago? Prepare yourself to fight for a study spot in Regenstein on a Friday night. YMMV.
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