three schools. All have a good to great curriculum
School A: Solid reputation; great dynamic location; Structured curriculum with choices within; Cost over four years $0
School B: Excellent reputation; International; pretty cool location More flexible curriculum; 1/3 electives. Cost over four years $100K
School C: Very desirable “In” School; great location; Cost over four years $200K
Unless School C drops a huge award letter in the inbox, we do not see it as worth it.
But School A and B is a tougher call. $25K more per year for school B, but a very good school and program. But School A–so attractive with least burden.
Hmm, school A has a solid reputation and good location and you would be debt free upon graduation? I
f you would need any loans to go to slightly more attractive school B, I would take the gift of a totally debt free education at school A and run with it!
Cool location- not worth an extra penny in our family. We weren’t going to pay extra for amenities like great food in the dining hall, better recreational facilities, close to skiing, surfing, beaches, etc. College was for 8 semesters of an education. Any of our kids who wanted that kind of experience could sign on to work on a cruise ship or a resort… or get a job after college which allowed them to afford that kind of lifestyle in their leisure time.
Academic rigor- we were willing to pay more for more of it. Beware of the “flexible curriculum” trap-- which I understood quite well, having gone to Brown back in the 70’s just as the so-called New Curriculum was taking hold. It sounds great in theory. In practice, if you want to apply to medical school, you take the same courses as anyone else who is applying to a US medical school. If you are majoring in mechanical engineering, you will take the same classes as anyone else. Etc. So yes- having some flexibility in your electives is nice- but not so nice that it’s a decision factor IMHO. Because for the individual major/department, there are STILL going to be requirements in order to actually graduate with a degree.
And of course we don’t know whether the extra money is truly burdensome for you, or if just means dropping the health club membership in favor of your local YMCA and cutting out vacations for four years. We can’t advise you without knowing how meaningful the money is to your future retirement and lifestyle.
I don’t know the distinction between “solid” reputation and “excellent” reputation, and if it’s a meaningful distinction. We were full payers-- and would have paid full freight for Cal Tech (for example) vs. full tuition at our own state flagship (which has a “respectable” reputation in engineering, but it’s no Cal Tech). Kid did not apply to Cal Tech- so I’m just using this as an example.
Pay full freight for Adelphi engineering vs. Stonybrook (one of the SUNY’s)? No. Full freight for Drexel or Northeastern vs. U Mass? No. But we know lots of families who made those choices-- their money, their kid.
As others have said, it really depends on the specific schools and where the extra $100K will come from. What does your student want to do after college? If engineering or teaching, and both are accredited schools, go for A. If something else, look at the curriculum in the intended major. Are both similar in terms of potential internships? Do a wide array of companies come to recruit students? What are their law/med/business school acceptances like (if that is important)? The top accounting firms, for example, only recruit from certain colleges (again, that may not be important to your student).
If your student takes out the federal loans, they will have to pay them back and your outlay will be lower. Can you afford B?
If school A is offering a full ride on merit, it is likely that your student is at the top of their acceptance pool. Does that work for him/her?
Many families with good students have the option of a school that would be free or almost free if they move down the ranking list. There is a point at which quality does matter.
Depends on family finances. If the student prefers school B for academic reasons and it makes no difference in the family’s lifestyle (ie no loans, no missed vacations or other spending) the why not? Definitely school A if loans, scrimping et al. Remember to have savings for any other kids and contingency funds for emergencies/unexpected expenditures. NEVER take money from any retirement accounts or not fund them for college.
This is a question no one else can answer for you.
From the outside, sure, School A seems like a no brainer but I know from personal experience there are other family and individual factors at play. Obviously, the “how will we ever pay for this school” is out but if the other is preferred and in the budget. Sure.
Some things beat $0, as it really depends on the quality of School A and if this is a question of an extra $100K would be nice, versus family would have to borrow to pay the difference.
It sounds like all three would offer a solid education. That’s the most important factor.
You’ll have to determine how much you are willing to spend on the more experiential factors like location, coolness, prestige, fit, etc.
You don’t mention whether debt would be accumulated by student or parents in B or C. If you have the money, you just have to decide if you want to spend it to get a more “desirable” college experience. If you don’t have the money, you have to decide whether or not you are willing to go into debt to finance that experience.
Only your family can make the decision that best suits its circumstances.