<p>While, as it stands, no one has given me any concrete reason to go to a super “prestigious” university. At this point, I just don’t see any justification in the cost. “Need-based” aid, it looks like, would still leave me paying a pretty hefty amount given my family’s financial situation- and for an education that really isn’t any better.</p>
<p>How about since roughly 70% of students change majors, put yourself in an institution which offers a broad range of alternative majors?</p>
<p>Also, even if you stay in the engineering program, perhaps you will decide that you want to head into a profession where engineering knowledge is helpful - without practicing as an engineer?</p>
<p>While gaining admission to a school like Princeton is very very much a reach, middle class families (especially those with multiple kids in college) with “normal” assets receive great financial aid (grants, not loans).</p>
<p>My D is a Chem.E (soph at P) who now plans to work on the finance side - bridging the gap between those with money to invest and those with ideas looking for funding (start-ups). While she hasn’t changed her major, she has changed her focus and employment interests. In job interviews last year, she learned that candidates who could bridge that gap were very much in demand.</p>
<p>My point is, try to put yourself in a position where you will have the most options when you graduate. Only you can decide what level of potential debt is acceptable. If your first job pays 30k, that level may be different than if your first job pays 90k.</p>
<p>Per the “big local scholarship” … most are not all that big, but even if yours is, check the details. Most are only for one year. Also be aware that if any school scenarios involve FA (need-based financial) aid, it will be reduced by amount of scholarship. In other words, most schools don’t allow students to “stack” FA and scholarships. </p>
<p>At this point, it is late in the game. If you are not happy with your current options consider leveraging your high stats and/or National Merit status. Look at schools like Case (Cleveland) and Northeastern (Boston). </p>
<p>Stemit, what do you classify as “great” financial aid? Even if I could have tuition covered at Princeton, I would still have to pay 13k for room and board. The local scholarship I speak of, specific to my community, is worth 5-6k renewable for four years. Since Princeton, for example, wouldn’t allow me to stack, I would pay a minimum of that 13k.</p>
<p>At the University of Minnesota, I might just have 2-3k to pay a year, and the transportation expense is much smaller. In your opinion, does anything, given my situation, justify going to Princeton?</p>
<p>Note, all schools, even ones who “meet 100% of demonstrated financial need” use loans in those calculations. Also, Ivy’s offer NO merit based aid. They aren’t allowed to. It’s an agreement amongst all the Ivy League schools.</p>
<p>HYP meet financial aid with all grants. There will be an amount which the student needs to meet: a sum for summer employment and an amount for work study which is included in the calculations. If the student decides not to meet either amount, loans are available to cover that amount (roughly 3k for the summer and 10 hours a week of work). Most other schools FA will also have this requirement.</p>
<p>As for outside scholarships (e.g., ISEF) those will be credited to the amount you are required to fund (summer and school work study) and will not reduce your actual FA.</p>
<p>Great financial aid is defined as whatever the FA calculator says - there are many variables based upon financial information which is unique to each family. (A family where both earners have W-2s will be different then a family which has a small business. - even if both have identical taxable income. Likewise assets will differ family to family and produce different results.)</p>
<p>Keep this in mind - when you leave home, your parents will find their expenses will drop (you won’t be eating, doing laundry, showering, etc., at home). Those savings will not go into your parents pockets; the expenses saved will go to paying room and board in another location (I.e., your college).</p>
<p>Choosing a college is unique to each person and family. There are way too many variables for a stranger on the Internet to advise you. I can only tell you anecdotally that both my kids are satisfied that their efforts resulted n great jobs (I have one which graduated with a degree in ECON and another still there; they were not legacies). </p>
<p>If you feel that you have time to craft a great application, there is nothing to lose; if not, it wasn’t meant to be.</p>
<p>All of this speculation about how cost and financial aid compares between different schools like Cornell, Princeton, etc. is irrelevant compared to the net price calculator results that the OP sees upon running each school’s net price calculator with his/her own family’s financial information.</p>
<p>Here’s a hypothetical question. This thread is about the quality of engineering programs, after all. Say I want to earn a bachelor’s degree in chemical engineering and then go to work as a chemical engineer.</p>
<p>I can go to Cornell and graduate with a debt of 30k or go to University of Minnesota Twin Cities (in the Honors Program) and graduate debt-free. (Don’t know how likely either of these numbers are, but at least answer question 1 if you can.)</p>
<ol>
<li><p>Am I definitely going to find a more intellectually stimulating environment, better professors, and better job opportunities at graduation if I chose Cornell?</p></li>
<li><p>Do the opportunities Cornell affords me justify taking on debt?</p></li>
</ol>
<p>For chemical engineering, I think that UM will offer you at least as good if not better job opportunities. It is in a major metropolitan area and the oil boom is going on just to the west…</p>
<p>Ok. Don’t think I’m going to invest any more consideration in Ivy League schools. I just haven’t found a great reason to do so. </p>
<p>Looking at the Honors program at UofMin you are going to be in a pretty select group anyway, if the ACT average is 34. It seems to rate highly for chem eng specifically, is it just a grass is greener scenario? I can’t see any reason to think you are missing out. </p>