I am faced with a difficult decision and am looking for insight and advice.
I am a Wisconsin high school senior and would like to major in business next year (I am leaning towards accounting, but I have an interest in international business and marketing). I have been accepted into the University of Minnesota and directly admitted into the Carlson School of Management. I have been accepted into UW Madison, but as a pre-business student so I will have to apply to the business school the spring of my freshman year. My problem is that even though I get reciprocity tuition at Minnesota, I did not receive any scholarships or grants so the grand total is about $30,000 per year. At Madison, I qualified for “Bucky’s Tuition Promise” which means I got a grant for free tuition of about $10,000 making the total $15,000 per year. If money was not a concern, I would definitely pick Minnesota because I LOVE the campus and city, plus I am already in the business school. But I can stop thinking about the free tuition at Madison, and I have even heard that Madison has better academics (I heard this on this website, not saying it is true). I don’t really like the city of Madison and I feel like I am kind of bored of it because both of my sisters go there and I have visited a lot. But I also am thinking that if I go to Madison I will be in $60,000 in debt and at Minnesota, it would be $120,000 in debt.
Thank you in advance for the help.
DD chose Madison and WSB over U of M TC Carlson for a variety of reasons, most wouldn’t apply in your case, but one does. The marketing program at Madison was ranked higher when she did her research. When we toured this summer our tour guide was pre business as well and made it in, so there is a path for you. I wish I could help you out more, but the huge cost reduction should play a huge factor in your decision from a mom perspective.
$120,000 is way too much debt for a bachelors degree. Even $60,000 is going to be a lot. I have a ton of student loan debt, so trust me when I tell you this…you want to do everything you can to either not have it or minimize it to the greatest extent possible.
College is going to be what you make of it, but even if you are totally bored in Madison for four years, it would be worth it for free tuition. I don’t know too much about the business school but they can probably advise you more on what you need to do to get in at SOAR.
I did NOT want to go to UW since I wanted to leave town eons ago but money meant UW even with scholarships. Loved it. Every student has a different experience, even those in the same major. Visiting with sibs is not the same as forging your own path.
I realize the sure thing with MN business is appealing but money is a huge factor. What do your parents say about the family finances? If it means a lot of debt don’t do it.
You can’t borrow $60k or $120k, the limit over 4 years is $27k. Do you have a parent who will qualify for and take out Parent Plus or private loans? Do you have younger siblings who’ll go to college?
Minnesota sounds unaffordable / unrealistic.