Hi guys, I was recommended to CC to ask about my current pre-college situation.
So basically, I’m stuck between two different colleges, UC Irvine and Seattle U. I have hyped myself over going to UCI for the past two years and have had many teachers support me in my ambition of going there. However, as I received my acceptance, I realized that as an OOS student, I would be heavily burdened by the cost of attendance. On the other hand, which is 59,612 per year. I had not put as much thought and heart into my Seattle U application as I only thought of it as a branch of safety in the case my admissions went south. Seattle U which is 61,608 per year offered me 22,000 as a merit scholarship while UCI offered me nothing (good ol’ UC schools)
My intended field of study will likely be accounting, however, if I attend UCI I will be minoring in accounting and majoring in business administration.
With UCI being the dream school I have held on a pedestal since my sophomore year and Seattle U, I can’t decide which one I should go to. Could I please receive any tips, advice, or recommendations regarding this?
You must be really torn. I understand your feelings. I can only say that as a future accountant you will be asked this question by others. How would you respond? If you can afford both and it isn’t a financial burden. Go to UCI. If it is do not. There is an easy financial decision wrapped up in an emotional one. Good luck and remember ultimately your success in life Is up to you.
I don’t really know either school and not sure if one leads to more Big 4 or consulting offers than the other. Perhaps someone who knows can comment on that part for you.
I am only commenting on the basic decision making proces
You’re going to need to re-think your school options. Both schools are out of your price range without huge amounts of debt. If you plan to do accounting, you’re going to need a masters degree in order to pass the CPA exam. Your undergraduate debt will easily sabotage your ability to do that. Have you applied to an affordable in-state school like UW or WSU? If not, I recommend NOT going to either school. Spend some time at a community college and transfer over to to a public university. Your adult self and future spouse will thank you later.
You need to go the route of the least amount of debt (non would be best option). Either of these choices are too much unless your parents are writing a check and its within the budget.
Honestly, as someone who works in the accounting field, no way would I take on that kind of debt going into this career, it doesn’t pay well enough to make it worthwhile.
For full disclosure I never liked the idea of a person having one “dream school” – the truth is that there are many colleges that can give a person a great education and a great four year experience. Personally I’d go to Seattle U where you can have the major you want for less money.
I’m a CPA (as is my S) and IMO a major in business administration is less valuable/employable than a a major in accounting. In addition, to become a CPA (if that is your goal) one now needs 150 college credits and a typical bachelors degree is around 120 credits. Some people can get to the 150 credits in four years with a combination of AP classes, summer classes, overloading a schedule — but many go on for a one year Masters in Accounting which will cost more money.
I agree with @happy1. The dream college thing is backwards. College is kind of like getting married. You pick the one that loves you back. Soulmate comes later. It’s the same with college. Pick what works best for you, then fall in love with the school.
Just woke up and read all these replies, thanks so much for the input!
I first wanted to address that I can’t afford college without loans so I’d be going down the path of debt no matter what. But the total debt for 4 years not including interest for UCI is 238,448 and Seattle U would be 158,432 (at least going off what the cost of attendance is on their websites)
I also wanted to add that I live in Hawaii and my parents support me attending college outside of the islands because its “good to experience the world” and that living in Hawaii will stunt my growth.
Real stuff though, thanks so much for all the advice, I feel a lot more confident in making my decision now that I’ve heard a lot of reasonable things. I want to really thank @coolguy40 because I’ve had a mindset that I had to love the college before I go if I wanted to have a good time there, I’m a bit more open minded now.
That is a substantial amount of debt. I would go with the less expensive option, looking at those numbers (which are terrifying to me, as a parent). Do your parents have no money saved? From your numbers those loans look to be your entire COA.
These are both TERRIBLE options. You should look at more affordable options NOW. University of Arizona, University of New Mexico (which is beautiful) and University of Alabama Huntsville (which offers amazing scholarships). You have chosen life crippling debt. Really, really bad business sense.
Both UCI and Seattle U are unaffordable. That is an absolutely ridiculous amount of debt to take out for a 4 year undergraduate degree. As a student you are very limited in the amount of debt you can take out. Are your parents able/willing to take out that much debt? And who will pay it back? Do you have a firm funding plan in place to cover all four years (and a fifth year if you want the 150 credits to become a CPA)?
That level of debt would probably entail debt payments of close to $1,000/month – that will be an unimaginable drag on your adult life for 20+ year – the need to make those debt payments monthly would handcuff every adult decision you make – if you can afford that house, car, vacation…if you can take that exciting job that pays less. You really need to find an affordable college, even if is in HI. You can always do a year or a semester abroad or on the mainland to get experience living elsewhere. I urge you in the strongest possible way to rethink your options.
Both are unaffordable. Where else did you get into? (+ Please answer #10).
(Note that this amount of debt can make you unemployable because it’s so crushing employers see you as a risk of corruption/blackmail. )
Suggestions in #12 are excellent. Get in tonight now. To take heart, read the thread “I messed up” onbte College Admissions forum.
This plan only works if you can move to North Korea or some other place where you can be judgement proof after you graduate. That’s an insane amount of money to borrow for an undergrad degree.
@macaroni You should not be taking more than the Federal loan limit of your Stafford loans which is 27K for all four years ($5500 Freshman, $6500 Sophomore, $7500 Junior and Senior years). Your parents would have to take out the rest on your behalf putting their home and retirement at risk. Like @MYOS1634 said, even if your parents took out that debt on your behalf, you’d be a risk employee. Not only for possible corruption but lack of business sense.
Two Hawaiian colleges are part of the National Student Exchange so you could get off the island if you wanted to. University of Hawaii at Hilo and Manoa.
OP, there is good advice being offered to you above. So far, you’ve talked only about UCI and Seattle U. Have you looked at any other schools? While it was nice of your teachers to encourage your college dreams, the UCs are notorious for zero assistance to OOS students. I’m sorry your dreams were dashed about UCI. Unfortunately, Seattle U is not affordable either. I can fully understand the desire to leave Hawaii, and that after living in an isolated (and isolating) location, you want to live somewhere else. I grew up somewhere even more remote than Hawaii. I was able to leave for college, but it was to a mostly commuter campus and I lived with relatives. It wasn’t the college life I’d dreamed of, but meant that I could pursue an advanced degree without any debt.
I’m presuming you live in Oahu. The University of Hawaii at Manoa has a respected business school that offers accounting. Most importantly, tuition/fees for you would be less than $12,000 per year. If you lived at home, and took out the maximum in federal loans each year, you could cover the remainder with a part-time job. You could even work on campus, so you’d be able to meet other students and wouldn’t leave right after your classes.
Just take a hard look at the numbers. You posted previously:
Bottom line: the student loan debt for UHManoa is about $27,000 vs. $158,432 for Seattle U or $238,448 for UCI.
Have you shown your parents these numbers? You said that they support your decision to attend college off island, “because its “good to experience the world” and that living in Hawaii will stunt my growth.” But the reality is this: that level of student debt is crippling, and is far worse for your future than staying in Hawaii.
Please consider UHManoa, and look into the National Student Exchange program suggested by @gearmom. Best wishes on your decision.