So I got accepted to Carnegie and UF, but I’m conflicted. I got my financial aid package and am expected to pay 20k out of pocket per year, but at UF I’ll basically go for free–Florida resident. I’m okay with getting some debt, but I also plan on going to graduate school after undergrad. As a result, I’m leaning towards going to UF for undergrad and applying to a better school for Grad school. However, I do like the idea of moving far away from home and attending a better undergrad, but I think in the long run it’ll be worth it to go to grad school debt free, as employers will look at my master’s degree anyways. I’m majoring in mechanical engineering and wanted to see what others think and any advice they’d like to give me. Thank you!
Blizzard: Don’t be an economic fool. Undergraduate debt is the proverbial albatross around your future financial neck. UF’s engineering school is great, with terrific job placement. I know three mechanical engineers who graduated from UF last year that now work for Disney, Boeing and Amazon. If you can go to UF without incurring any undergraduate debt, go.
The same applies to everyone else shopping schools. It amazes me how financially ignorant most parents and high seniors are. This why most Americans have almost no retirement money saved.
When you say $20K for CMU and free for UF, does that include room and board for both? Make sure you’re comparing apples to apples. Based on your other posts, I’m assuming that you didn’t get Benaquisito, but I could be wrong.
How much debt will you have to take on? If it will end up being less than the Subsidized Direct Loan limit, I’d say that the debt load is very manageable for a MechE.
I think fit is something that you should think about more than the perceived prestige of the two schools. CMU is a relatively small school in a large city, while UF is a very large university in a small town. The student body demographics are very different.
I think UF a sound decision. Your parents have taught you well. A masters degree at any regional university will squash a prestigious bachelors degree any day of the week. “Prestige” is really just an emotion that has no rational or financial basis to justify its existence. Take the scholarship money and run. You’re adult self will thank you later.