Does it make sense to apply to colleges which you know you can't afford?

Parent Cafe
1

<p>I'm talking about Wisconsin and UIUC. Like I've mentioned previously my EFC is very low ($2) and both these schools don't meet 100% need and like many publics aren't very generous with grants either.</p>

<p>Should I complete eliminate publics from the list (other than State U)?</p>

<p>I'll easily be $110,000+ in debt which in my opinion is not worth it (no matter what school it is).</p>

<p>I've also been considering Michigan, Berkeley and Minnesota. The reason I'm somewhat hesitant is because I have a "better" chance at the publics.</p>

<p>What should I do? My parents are strongly encouraging I apply and go to the top school and they'll find some way to help me. But I know this is far from true.</p>

<p>My Stats:</p>

<p>GPA - 3.7 UW/4.3 W (IB Courseload)
SAT - 750 M, 740 CR, 760 W (Not retaking)
SAT II - Physics 760, Chemistry 750 Math IIc 790 and US History 790
ECs - SGA (Student Advocate), Model UN (VP), Political Forum, Debate (We don't have a leadership position technically speaking, but I'm like the unofficial Captain) [Almost all 4 years]
Work Experience - Internship at a think tank for the summer, worked close to 20 hours during Junior year.
EFC - $2
Major - Probably Mechanical or Chemical Engineering. Political Science - but academia or law school look like the only options career wise.
Volunteer work - Advocacy group - probably 400+ hours.</p>

<p>Schools under consideration (The generous financial aid offered played a decent role)</p>

<p>MIT - I LOVE the culture. Everything from IAP to Hacks
Harvard - Maybe, the engineering curriculum looks very interesting and fun. Definitely not because it's Harvard
Princeton - Undergrad focus
Stanford - Academic programs
Rice - Small classes, tons of academic opportunities
Cornell - Location (yes Ithaca) and Engineering Co-op
UPenn - Research being done there
Northwestern - Interesting curriculum and Co-op
Columbia - Research and opportunities looks promising (afraid NYC might overwhelm me)
UVA - In state
UMD - Looks like it has decent opportunities
Vanderbilt - Size, Well rounded, Don't know much about its Engineering
And as I mentioned Berkeley, UMich, Wisconsin, Minnesota, UIUC</p>

<p>I don't think I'll apply to more than 10 colleges.</p>

2

<p>My family can’t afford ANY college without 100% need met, but that didn’t stop me from applying. Worse comes to worst, you get in and you can’t afford it. I say just apply. You may be surprised by their FA packet, and if not, you weren’t expecting to be able to afford it anyway.</p>

3

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<p>Yep same here. </p>

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<p>But is the effort even worth it? I’ll definitely give it a try.</p>

4

<p>Yes, it’s worth applying. Some schools like UVA meet 100% of need, and if you’re considered low-income, you potentially would be able to attend on a free ride.</p>

5

<p>I’m talking about schools that don’t though. And most meet 50% of it through loans.</p>

6

<p>If you have a good head on your shoulders and don’t have unrealistic expectations it’s worth doing. </p>

<p>Why? it seems absolutely silly to me, but the truth is the colleges that give lousy financial aid match other offers. Call Old Widget and say “I really, really really, really want to go to Old Widget, but you offered me $3,000 in aid–all in loans. Old BoltandScrew has offered me $15,000 in aid in grants. I don’t like Old BoltandScrew that much, but, given the financial offers I’ve gotten, I have to go to OldBoltand Screw–even though I REALLY REALLY REALLY want to go to Old Widget. Pretty please, could you up your offer?”</p>

<p>It’s surprising how often they do. Don’t count on it–I mean it. But if you keep a good head on your shoulders, it’s often worth the role of the dice.</p>

7

<p>^ For one most schools flat out say they don’t match one another’s offer. And if the OP has $110,000 in unmet need/need via loans that translates to ~ $27,000 in grants each year. Can public schools really afford to do that?</p>

8

<p>Darth-</p>

<p>Yes, I’d say it is “worth the effort.” You really don’t know what will happen. If you are accepted to an otherwise perfect school that does not entirely meet your financial needs, I would be less concerned about some loans (NOT 110,000!) with your career aspirations than I would be if you were going to pursue other, equally valuable, but less lucrative career paths.</p>

<p>But most important, you won’t even know what your options are unless you try.</p>

<p>(BTW: I know that UMich Engineering offers some very impressive merit based grants to highly desirable applicants-both in state and OOS. Be sure to apply EARLY.)</p>

9

<p>Apply and find out your options. We couldn’t afford much, either. But D applied, and we found that the most expensive school gave her so much $ that it was cheaper than the state flagship. Not merit aid, which is iffy, but FA.</p>

10

<p>Add in a couple of privates where you could get merit aid. Vandy is one, maybe Tulane? Lafayette?</p>

11

<p>Yes. (that was simple.)</p>

<p>There is absolutely no good reason I can think of to apply to Wisconsin, Michigan, etc. under these circumstances if your in-state public (for which you have a reasonable expectation of admission) is Virginia.</p>

<p>I can name about 100 other schools where you might get good financial aid, but you didn’t ask for that.</p>

12

<p>There is a simple answer to your question. NO.</p>

13

<p>Any 18 year old HS graduate who thinks the interest on a $100,000 in loans won’t be crippling should be able to sue the school board.</p>

<p>Where do you go with your BS or BA and that $100K in debt? To graduate or professional school? Not very likely. You won’t be able to get loans. What kind of job are you going to get fresh out of college that will pay you enough to put a roof over your head and beans in your belly and still pay those loans?</p>

<p>You need to go someplace where that $100K number is more like $20K or 25K.</p>

14

<p>^^^ Agreed! It is very simple, go where you can afford it. That much debt is too much. My son graduated from state school and has just found a job. The pay is good and he has no debt. He will take an apartment with a friend and share some expenses. I can’t imagine him doing that with a lot of debt.</p>

15

<p>Apply, bit make sure you apply to several State and more affordable colleges as well.</p>

16

<p>The two big state schools in my state have very good programs in place for students with low efc that package grants with minimal loans with the loans totaling only about $10,000 at graduation. At NC State (known for engineering), it’s called the Pack Promise program and at UNC-Chapel Hill it’s called the Carolina Covenant program. Maybe some other state u’s. have similiar options.</p>

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<p>You’ll probably qualify for the need-based free ride at UVA, which is, in my opinion the best public school by far for undergrad – and I’m a UMich freshman. Seriously, UVA is the way to go. I WISH I was instate for UVA. You’re so lucky.</p>

<p>Don’t even waste time on Berkeley or UMich. They won’t give you enough aid. Their undergraduate offering pale in comparison; the classes are bigger, the TA’s more common, and the top professors/researchers less visible. And UMich is really cold. Berkeley’s a lame college town. Go to UVA or a private school.</p>

<p>GO TO UVA.</p>

18

<p>"Where do you go with your BS or BA and that $100K in debt? To graduate or professional school? Not very likely. You won’t be able to get loans. "</p>

<p>Now, it may be completely unwise to do it, but this statement is just not true. I know people with $100,000 in UG debt who took on more. Since the changes a few years ago, private education loans come within the class of debts that cannot be discharged in bankruptcy. And law students who default on their payments early on will never make it past a character and fitness committee–which means they pay. </p>

<p>The end result is that it is actually fairly easy to get loans, even with $100,000 debt for UG. It may not be wise, but it’s not hard to do. And, in some cases, it may actually be wise, since the total amount of debt may still be less than first year’s salary-a common rule of thumb for student debt.</p>

<p>Moreover, some law school loan forgiveness programs include certain undergraduate debt. In that case, if your aim is to work in public service, you may be able to get out of paying back some of that UG debt by taking on more debt.</p>

19

<p>FWIW, I grew up in Virginia and was sort of disdainful of just going to the “state colleges” (U.Va. and W&M), so I wound up at an out-of-state private university. It wasn’t until I’d been away from Virginia for awhile that I realized that people all over America get wide-eyed and effusive at the mention of U.Va and W&M. For whatever credence you give those U.S. News reputational ratings, there aren’t many schools in the country that top U.Va.'s reputation. I love my Alma Mater, but I’ve wondered all my adult life why I didn’t consider U.Va. (I think it was because it just seemed like the common thing to do at my HS). Now I have a daughter who’s a HS senior, and U.Va. is on her short list - we’re looking at it out-of-state as a great value!</p>

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<p>stay in-state. Unless you have some other hook, or attend TJ, the 3.7 uw gpa will not be very competitve for the Ivies on your list, nor for Cal. Moreover, the UCs give poor finaid to all students, and refuse to waive the OOS fees.</p>