Hello! I am down to basically two options in my college decision. I loved Cornell and the Dyson School when I visited and could really see myself fitting in and thriving there. Although, I am a bit scared about the weather (from NorCal) and rural environment, as well as grade deflation. But, I have heard that AEM is one of the easiest majors at Cornell, which is reassuring. I would really appreciate insight into how feasible it is to get a 3.8+ GPA, median grades, etc since I am planning on getting an MBA as well.
Then there’s Fordham which I have never imagined actually attending (it was my safety), but since I got the full tuition as well as the Ignite Scholars Program, my parents have been pushing the school down my throat. I understand the financial relief this will provide for me going into my MBA, but I just can’t bring myself to commit to Fordham for 4 years if I am not confident I will be truly fulfilled and challenged there (at least when I have Cornell as an option). In addition, Fordham doesn’t really have exactly what I want to do in business, and that would be frustrating for me.
My parents have graciously committed to paying for my undergrad wherever I go, but have said that grad school is on me. Do you think it is doable to save half of an MBA ($60,000+) after working for 5 years after undergrad, assuming I will take loans out for the other half? And with an increased salary after an MBA, how much of an impact does a $60k loan have on quality of life?
I also received admission to BC Carroll and Villanova School of Business (St. Augustine Scholarship and Global Citizens Program) which are in 3rd and 4th place right now.
The decision between my parents and I is very polarized at this point, and we have even spoke with a therapist. I believe I have worked too hard to settle for Fordham, but my parents cannot get past the financial benefits, even though they can pay for undergrad completely.
I would love to hear your thoughts!! Thanks so much for the help!
Eliminate weather as a concern, its not that much worse in Ithaca compared to NYC, Boston or Philadelphia.
You may want to understand how much your parents have saved for your college, if you are paying cash for Cornell.
If the entire 4 years is not in a 529 type account, are you actually taking your parents retirement fund, and will you need to support them if they last until age 95 and need nursing home help?
Boston College, is that one less expensive compared to Cornell? BC offers a great alumni network, and a lot of school spirit, nice location as well, but just as cold in Boston as Ithaca, sometimes more snow in Boston lately.
Also price out the flights to Syracuse or Ithaca as that will also cost more to fly up there. If you book far in advance Ithaca and Syracuse are about the same. Flights do get canceled more often in upstate NY and usually cost more than LAX to Boston or SF to Boston.
It depends entirely where you get a job, and what type of shared housing arrangement, and if you can live CAR FREE, as to how much you can save. Boston has employers that will pay an undergrad econ major great starting salaries, look at Oliver Wyman and The Analysis Group, Brattle Group. Boston can be a car free city, as can NYC. Take statistics classes as part of your degree program to be more employable with a bachelors degree.
As an undergrad business major, I would not focus so much on the MBA (which will cost you 120k+). If you really want grad school, then yes, you have to think of cost. I don’t think an MBA adds much value to an undergrad business major but depends on what job you get later. What are you thinking for your business major?
Fordham Gabelli is an excellent school- I would take the money!
Do your parents have 300k in a 529 for you? That’s what Cornell will cost. Have you visited either of these schools?
Another one here who doesn’t see much point in doing an MBA after undergrad business (some MBA programs only take non-business majors, by the way).
I agree that understanding how your parents are paying is as important as the fact that they have offered to pay. The fact that they are pushing you so hard to take Fordham implies that the cost of Cornell will actually be something of a burden for them. Fordham may not have the Ivy cachet, but it is a good school in a city that is full of opportunities, with honors to add on to your resume. I’m curious as to why you only mention BC as an afterthought- do you have any funding offered from them? If so it would seem a good “compromise” between Cornell and Fordham, both in terms of prestige/ranking and affordability.
@college2744. As you are interested in a career in business, maybe run some projections about how that 200K+ differential could be invested elsewhere and what it would yield in the short and long term?
I get that Cornell is the dream but it’s not as if Fordham is a community college or a third tier public or private school. It is very well regarded and has only been increasing in stature in recent years. It also offers limitless internship and job opportunities right at your doorstep. Have you visited?
How do the financials and academic programs at BC and Nova compare? Is there a compromise to be had?
If I understand correctly, Fordham Gabelli will cost about $80,000 ($20,000 per year) and Cornell Dyson will cost about $300,000 over four years. Then after working for 5 years you want to get an MBA degree.
You estimated cost for an MBA degree is low. The top ten programs all run over $200,000 for tuition, fees, books room & board for the full time 2 year programs.
Fordham appears to be the easy answer especially since many outstanding internship opportunities are located in NYC.
Could you elaborate on why Fordham “doesn’t really have exactly what I want to do in business” ?
Based on your numbers, you have been extremely fortunate in the college admissions process. You should be challenged at all of your schools. I think that you have benefitted by your leadership in charity work & the fact that you are an Hispanic female applying to business schools. (This should be even more helpful with respect to MBA admission & scholarship. See the Fortis Foundation.)
Your low SAT (1410 = 720 math & 690 verbal) is an area of mild concern. Top 10% of your high school class does not suggest that you will not be academically challenged at Fordham, BC or Villanova. (You wrote that you are not confident that you will be truly filled & challenged at Fordham Gabelli.)
P.S. If you work for 4 or 5 years before entering an MBA program, the cost of an MBA becomes much higher due to the opportunity cost of loss of two years of income.
Fordham Gabelli school is an excellent option. And an incredibly great value.
And those who don’t think top mba with ug business is “worth it” may be accurate In some fields. If you are considering private equity, merchant banking or major corporate America, think again. It is a misjudgment.
FYI. 70 percent of the incoming class at BC was top ten percent of their class. Average act of 33 and average SAT of 1460. Carroll school is even higher. OP was lucky to get in and perhaps has some admissions preferences like legacy or some other institutional benefit. Which is great and definitely not a bad thing.
But to assume Cornell dyson to be more challenging or ultimately leading to better outcomes than a Carroll and Gabelli is woefully misinformed.
But Cornell is great. I get it, it instantly tells the world how bright you are and in a way, superior. At least in your tiny circle of reference. This will fade.
But there is life outside of the classroom at some of these other schools that you will remember long after the finance lecture fades away.
Best of luck. Such wonderful choices. It’s a shame that such an embarrassment of riches requires therapy. Something is wrong in our culture.
