<p>My son was offered the $29,000/year tuition exchange scholarship at Lafayette. We're not eligible for financial aid at Cornell (or Lafayette) but can't afford the Cornell tuition without significant loans. Will study engineering (civil/environmental). Thoughts?</p>
<p>Lafayette is an excellent alternative to Cornell especially with almost 30,000 a year contribution. Although Cornell is a fantastic engineering school, going into major debt because of it even before going to grad school is not a smart decision. Although Lafayette is a LAC, it is a fantastic school that has been rising in the rankings recently. Congrats to your son!</p>
<p>That’s kind of our thought too. But how does he turn down Cornell? I’m a Cornell grad from a big Cornell family which is making this a really hard decision. But such huge debt.</p>
<p>Cornell is a fantastic school for engineering students, but in this time, money is also an important consideration.</p>
<p>How much debt would your son have to assume if he selected Cornell? My debt load from Cornell is around $60,000 (that includes the interest) and my monthly payment is around $700/month.</p>
<p>I also had a similar situation because Lafayette offered me the Marquis Scholarship ($ 16,000) plus FA but for me, the price of going to school didn’t seem to outweigh the best education that I could have. I don’t know though, I could be regretting this in like 10 years when I have debt up to my eyeballs lol. But Cornell’s FA was also pretty good so the decision was pretty clear for me, especially the offer of the Presidential Research Scholar which basically sealed the deal. Good luck with your decision and congrats on both acceptances!</p>
<p>Find out if you will receive similar job/intern opportunities in the future from Lafayette. Lafayette seems like a good plan, I think that your financial status is important and going to Cornell for grad school may seem like a pleasant alternative.</p>
<p>Don’t sweat it…no one going to college can truly pay for it. You should not feel saddened by this problem. Your child is smart and you are smart for urging him/her to work their hardest. I know that you will find an out. Best of luck!</p>