Hi!
I’m a President’s Scholar at SMU (http://www.smu.edu/Academics/PS/Benefits) which is a full ride + tuition/airfare paid for study abroad.
Duke would cost me about 27,300.00 plus a 5000 loan and 2200 work study per year. That’s approximately $138000 for Duke vs SMU’s $5000-10000.
I want to go into Ibanking or Private Equity later, but I want to live in Texas after college.
Which should I take?
Duke is an appreciably more prestigious school – especially for iBanking, etc. – with substantially greater opportunities in the financial realm; however, SMU is a good university, the President’s Scholarship adds stature, and $138K is a LOT of money. An important matter you have not addressed is how “big” that $138K is to you and your family? To many it would be absolutely decisive and insurmountable, to most it would be very significant, but to some it would be entirely affordable. Your decision certainly must include just how important that $138K is for YOU. Finally, I’d bet that you’ll be in fine shape with either option.
Thanks @TopTier! To my family, $138K is a LOT of money. We’d have to take out a lot of loans.
@Galore: CONGRATULATIONS on your Duke acceptance, and enjoy SMU (and, who knows, Duke just might be where you want to study for your MBA 
).
Is there a big I-banking or private equity community in Texas? I thought most were in NY or west coast??
There are some in Austin/Dallas/Houston.
Thanks @TopTier !!!
For I-Banking/PE, Duke is a lot more prestigious than SMU. SMU does have some Texas connections, but Duke simply has a lot more companies and a lot more Duke grads end up in PE and IB. The $130,000 is obviously a lot, but if you get into IB, you could pay that back relatively quickly.
I think you would be better off going to Duke. Lots more options than the handful of banks in Dallas Houston. SMU isn’t really well known outside of Texas.
Please check out the newer Alternative Assets Management Program at SMU. As a Presidential Scholar, you can certainly qualify. It has recently been putting IB/Finance/PE on the map out of SMU undergrad. All members this year were employed by global firms by the end of 2014 for Summer 2015 starts. My son and several members were recruited to Wall Street, with many others getting their top choices and multiple offers in Dallas, Houston, LA, Chicago and even Hong Kong. The Managing Director of his international firm asked him what the “magic potion” is at SMU and sent his NYC recruiters there for summer 2015 and beyond.
Sure, if cost wasn’t an issue, then Duke likely wins out on name alone. But for an almost free education at a rising BSchool, you can’t beat SMU Cox these days.
Thank you so much guys!
But after looking at @Osserpusser 's info about the Alternative Assets Program, I’m so far deciding on SMU over Duke. 