<p>So as not to sway opinion I did not divulge schools nor major (though this info can be found in other posts of mine).</p>
<p>So…</p>
<p>School #1 is UCLA. Received the $10K annual “Achievement” Scholarship. Entering as a Bioengineering Major. 100 miles from home (we are in San Diego).</p>
<p>School #2 is the University of Utah, Full Tuition scholarship which leaves about $12K for room/board/other stuff (way cheaper housing than in California!). Must “earn” his way into Engineering Dept with prerequisites and a 3.35 GPA (which, of course he would have to have anyway with the 3.6 scholarship deal). From all accounts, a top 20 Bioengineering school. (the weather could be a problem also vs. SD or LA…).</p>
<p>School #3, not mentioned before, would be Cal Poly SLO whose Bioengineering Dept. is not ABET accredited but provides a much different, more hands on approach to learning. Son would end up with $20-$25K in loans here also.</p>
<p>Thoughts now that the cat is out of the bag?</p>
<p>$20K total college debt is a dream for many kids. That will be less than his first car payment. It should be easily doable on any professional job.</p>
<p>Kat, go into UC Davis in Bioengineering but we truly expected he would qualify for the $7500 annual Regents Scholarship; that would have made it doable. Got into UCSD but not into their impacted Bioengineering Department so this makes this option tough since it is apparently somewhat difficult to transfer in. Close to home but too far to commute (had he gotten in and chosen to do so) due to brutal traffic. </p>
<p>Again, waiting on Stanford which apparently hits this afternoon but not too optimistic about that one. Also, as noted above, in at Cal Poly SLO which is doable finance wise. Several other super safeties including Cal State Long Beach which has a full ride “Valedictorian” scholarship which gets announced soon. Also full tuition at Utah State without the onerous GPA requirements but not highly ranked in bioengineering.</p>
<p>Classic, your statement, “$20K is a dream for many kids” is the unfortunate new norm that simply nauseates me (the norm, not your statement). The entire student loan bubble will be the next to burst as those kids that did rack up significantly more than the $20K and have a degree in tiddly winks are going to find the going tough in this brave new world of ours.</p>
<p>Exhausteddad, my son did not take the money. He is at an OOS public that he loved and we are paying full freight for it. He sees NOW that some of the less expensive choices work out just fine, but at the time when he made the decision, he wanted the full go away experience. And we let him make the choice as long it was within what we set as financial parameters. Would have saved us a lot if he had taken some of the less expensive choices, but we wanted him to have what choices we could afford.</p>
<p>In post 12, you said he wanted to go to UCLA unless he was lucky enough to get into Stanford. Sounds like a good plan that he has thought through. Is he getting as exhausted with this process as you are? As cptofthehouse said earlier, it is a gift to give them some choice of the school they want to truly go to (of course,barring financial realities). But as many of us are saying, $20,000 is not a crazy amount of debt for a kid to invest in their own education.</p>
<p>Capt., 10-4, totally misunderstood your post. Amazing how hindsight and aging gives you a different perspective on things :)</p>
<p>Sevmom, I truly do thank God that these opportunities have opened up for him. I also think that $20K isn’t too bad but debt simply sucks and way too many people have far too much of it. As noted above, the college loan bubble will burst in due time if many of these folks are working at Starbucks attempting to pay theirs off…</p>
<p>What is plan B if he loses the scholarship?</p>
<p>Engineering tends to have a rigid sequence of courses for the first two to three years. Consider the following risks:</p>
<p>You son is doing well but he has a required course that he might get a B or C in. Maybe be got sick but recovered enough to take the midterm but could not study for it or maybe he got Mono or maybe he just couldn’t grasp the material (it happens). Now he has a tough decision. Drop the course and protect this scholarship. This means that we will not be able to take the next course in the sequence which could delay graduation. He could maybe get back on track by overloading next semester (might cost more and make maintaining the GPA harder) or going to school over the summer (definitely more money and lost summer wages). The other option is to take the B, lose the scholarship and transfer (without merit FA since he is no longer a freshman but a transfer student). In that case, he might lose a lot of the credits he earned (yet another cost). All of this is not a unrealistic event to consider.</p>
<p>Is he guarantee to get his major if he meets the GPA requirement or does he still have to apply? Another risk.</p>
<p>At the first school the tuition will increase and the 20K will grow. That is also a risk but it a more known risk.</p>
<p>In this case, I agree with the others here that the 3.75 is too great of a risk for the reward based on what you posted.</p>
<p>noname, tracking with you and it’s “only” a 3.6, not 3.75 (chuckle, chuckle). Also totally aware of the UC finances but didn’t proposition 30 solve all of that (another chuckle, even louder…)</p>
<p>Round trip airfare on Southwest from San Diego to SLC is about $300. OTOH there’s the compounded increase in tuition costs at UC. Doesn’t look like a clear-cut budget winner one way or the other IMO. </p>
<p>At this point it’s really a question of visiting the schools. Plus there’s the lottery ticket drawing being announced today. :)</p>
<p>When looking at the costs, the least expensive options is not always the best. For those that are truly hurting financially, where every dollar can make a difference and where the parents are absolutely not going to be able to help the student out one iota after graduation with loans and getting a job and independent, it is not smart to take any loans if one can at all avoid it. Those loans can just suffocate you. But for someone who has the leeway, with family help, I don’t think taking the Staffords is so terrible. Or working to earn some of what is needed to pay. There is often more of a bounce in ones walk to be going for something one truly wants. </p>
<p>I don’t advocate loans–I’m usually very down on them, and all things equal, I think less expensive is better, especially when affording the pricier option is going to be a family/student hardship–then i’ts essential, but really if you can afford it, it’s nice to have the choice. And I, too, worry about that 3.6. Especially if the student is not gung ho about going there.</p>
<p>How firm is the bioengineering bit? What if he decides he wants Mechanical Engineering or Applied Math? I think you should encourage him to consider that he may change his major ( a high number of kids do) even if it’s with the same professional goals in mind. How does the calculus change then? And does he know what the bioengineering course load and research opportunities look like at all his options?</p>
<p>If I had a buck for every kid who changed majors once they got up close and personal to the actual work… well, I’d have a lot of bucks. Picking a sub-optimal college for the sake of one specialized program is a risk… not saying it’s not a risk worth taking, but a risk nonetheless.</p>
<p>Attending a non ABET accredited program has its own can of worms as you probably realize.</p>
<p>I’m amazed at the demonizing of educational debt on this thread. Yes, too much debt is bad. Yes, many people are in over their heads. But I know people who will borrow 30K for a new kitchen or a swimming pool and hot tub (which will never pay out) without batting an eye. So while no debt is clearly preferred, getting a superior education by taking out a modest loan seems to fall into the “worth it” camp even by Suzie Orman standards. It’s up to you guys to ascertain whether his preferences translate to a superior educational choice.</p>
<p>I would not bet on any college kid keeping a 3.6 every semester no matter how brilliant or well organized. Your S may need to take an English composition class or History of the Supreme Court class or Music Theory class for distribution requirements which could eat his lunch. Many a “Gentleman C” has been earned by an otherwise brilliant student who is working outside his comfort zone intellectually!</p>
<p>What is the backup plan if he goes to Utah but gets a 3.5 GPA and loses the scholarship? If Utah becomes unaffordable in this case, do you want him to go to a college where he needs to make a 3.6 GPA to avoid “flunking out”?</p>
<p>UCB, thanks for the data (was going to gather that but you saved me some work). One thing which I believe is true is that Univ of Utah will be far less competitive as it is really that states flagship university and their admittance rate is quite high (hence, I’m guessing is the cause of the low overall GPA which you site?). This is also why my son probably got the scholarship, since it is primarily based on numbers alone. Hence, my thinking was that he would be able to hold that 3.6 versus the competition as it were. </p>
<p>All that being said, from the opinions of yourself and some of the other seasoned veterans (and even some students) I’m now thinking that the 3.6 would be a heck of a yoke on his shoulders. Will check it out though to see if there is some elasticity in it; particularly for those in far more demanding majors.</p>