<p>I was accepted to Cornell's Arts & Sciences off the waitlist about a week ago, and today I received my financial aid. They are asking my parents to pay $14k, and for me to provide about $4k from work. Plus, I would have to take $11k in loans per year.</p>
<p>Meanwhile, I have been accepted into McGill, and the university offered me a $3k scholarship that more than covers the $1667 (:)) tuition I pay as a Quebec resident. Of course, since I live in Montreal I was accepted almost automatically, just like about 50% of McGill's other Quebec students.</p>
<p>My parents are strongly opposed to the idea of attending Cornell and graduating with about $42k in debt. They are saying that I can always go to grad school there.</p>
<p>On the other hand, I would really love to attend Cornell. I have lived in Montreal for 11 years and I am sick and tired of that city. Everything here seems impersonal and cold to me. I would really like to study someplace else, but I don't know if getting into so much debt is worth it. Personally, I don't mind missing a couple vacations to Cuba after graduation and I don't understand what's so terrible about owing this much money, as long as I have a decent job that allows me to repay it. However, everyone around me is categorically opposed to this idea, and I would like to hear some other opinions.</p>
<p>According to you, what are the advantages of Cornell over McGill for a Montreal student? Will Cornell really give me better career opportunities, particularly for grad school? (I am currently hesitating between math+physics and math+economics as possible majors.) I have the feeling that Cornell is a friendlier, warmer community where I could learn much more from being in contact with tons of different people. It is possible get internships and to study abroad at truly amazing places, and in general much more opportunities seem exist at Cornell.</p>
<p>Are these impressions are correct? Do they make Cornell worth the money?</p>
<p>if youre planning on being successful in canada, i'd say, go for mcgill! one of my cousins went to mcgill and loved it. he moved to new zealand with a classmate and started a really sucessfull computer business.</p>
<p>i had chosen cornell over mcgill, but this was because my major of interest is not offered at mcgill at the undergraduate level (bioengineering). if it was not because of this i would have chosen mcgill over cornell</p>
<p>oh, also it seemed like mcgill doesnt provide good academic advising (if there's any...)</p>
<p>My impression was that McGill is a large, sprawling city school and that dorm facilities were at a premium. Cornell offers a large, active, diverse campus-based experience with all freshman housed on North campus where they can bond with each other. </p>
<p>Is it possible to attend Cornell for freshman year and then if you decide that it isn't worth the money, you can always transfer to McGill to finish undergraduate. Would you still get the financial benefits offered now if you returned as an upperclassman?</p>
<p>I suppose that most people here are either Cornell students, or applying to Cornell, or very interested in it. I am wondering how are you able to handle your loans? Are you getting better financial aid that I do? Are your parents able to afford the education? Is it common for students in the US to graduate with so much debt? Is it something they can handle?</p>
<p>Most people can't actually afford w/o going into some debt so join the club lol. Cornell offers 100% financial need so maybe you can appeal if it's not enough...although it sounds more like it is fine aid but just horrible compared to McGill.</p>
<p>Maybe maybe maybe you could transfer out of McGill after one or two years in order to save money. You could call someone at Cornell about this to find out if it is a possibility. The risk is that you would either have to get in again or make some kind of arrangement.</p>
<p>I'm not sure what to say though. Both are great options. If u truly think you will be unhappy at McGill then it really isn't an option any longer. Is Cornell worth it to u? If it really is go for it (especially if u are going into a career where you will make a lot of money).</p>
<p>Then there is also Cornell for grad school. If you think you can get great grades at McGill and then get into Cornell for grad that would be a great option!</p>
<p>Where are you planning to live and work after college?</p>
<p>This is my take. McGill is a very good school. Academically it is almost at the samr level as Cornell. But, Cornell will give you a much wider acceptance amongst U.S. employers, hence much better job placement potential in U.S. Considering the job market in Canada as it compares with the U.S. I would take my chance in the U.S.
$40000 is really not that much money. If you get a job or better paying job in the U.S. one year sooner, it pays for itself already.</p>
<p>As I said, I plan to go to graduate school after getting a bachelor's degree, which means I will get into even more debt... I hope to be able to get a PhD in economics, and then possibly become a professor, but unless I make some breakthrough discovery, it is unlikely that my salary will be particualry high.</p>
<p>a lot of the kids on these boards are super rich, they dont understand the meaning of 42k in debt to poor people!! Im not saying you are poor, but i know where you are coming from and its ALOT of money!! esp with the interest rate, it will probably double.</p>
<pre><code>"Monthly Loan Payment: $483.34
Number of Payments: 120
Cumulative Payments: $58,000.35
Total Interest Paid: $16,000.35
</code></pre>
<p>Note: The monthly loan payment was calculated at 119 payments of $483.34 plus a final payment of $482.89 .</p>
<p>It is estimated that you will need an annual salary of at least $58,000.80 to be able to afford to repay this loan. This estimate assumes that 10% of your gross monthly income will be devoted to repaying your student loans. If you use 15% of your gross monthly income to repay the loan, you will need an annual salary of only $38,667.20 , but you may experience some financial difficulty."</p>
<p>Im not sure yet; its looking like berkeley though. Cornell's finaid was good for me at least (i got a lot of grants) but their package didnt cover travel expenses, and thats an extra 3-4 thousand a year (i live in southern california). So to me, it doesnt seem to be worth it when berkeley is just as good as cornell, and better in terms of international prestige/reputation. Not to mention thousands less (im a cali resident).</p>