<p>Hello guys. I wanted to know your opinions of going to a private school for undergrad. The two schools I am looking at are Boston University and George Washington University, both schools around $60,000. I have already been accepted into Rutgers (in state) and would be paying less than $30,000 per year (this is not including financial aid yet). I have not been accepted to BU or GWU yet but I am just thinking ahead. I don't anticipate receiving a ton of money from either school (I'm upper middle class). Regardless, I don't want my parents to go into a lot of debt, especially considering I plan on going to medical, pa, or some kind of grad school. However, I like BU and GWU about equal, both more than Rutgers. Both have a better reputation and love the thought of living in the city (and the experiences/opportunities it offers). But is that worth going $80,000+ in debt? Please let me know your thoughts. I really appreciate it!!!</p>
<p>My parents were thinking about the pros and cons of tuition for private and public schools.
After filling out the FAFSA it determined that my Expected Financial Contribution is about 30,000$.</p>
<p>Most public schools in the area I applied to are around 30,000 (tuition, housing, books, etc), and offer 100% coverage of need based aid. (60% grant/40% loan).</p>
<p>The private schools that I applied to are 60,000 and offer 100% coverage of need based aid (93% grant/ 7% loan).</p>
<p>If I go to a public school then I will have to pay the 30,000$.
If I go to the private school then I will pay the 30,000$ and then be covered for need-based aid for the other 30,000$. </p>
<p>The way I see it, depending on the EFC determined by your FAFSA you could be paying the same amount for private and public colleges. Some private school could be more suited for you or carry a more prestigious name.</p>
<p>The decision for you is if it is better to go to one school over the other (scholarships, campus, name) and how much money you will be expected to pay.</p>
<p>I would advise against it. That much debt would not be advisable for a private university education. Especially if grad school is in the plan. This is from a parent who has a son in a private school but also plans to not go into debt to achieve it. If I could not have given my S this option without debt, he would have taken the merit scholarships offered to him without nary a peep of protest.</p>
<p>Also OP, see if there are private schools that would offer a merit scholarship to you. Perhaps not as prestigious as those on your list but a more tailored environment for your needs.</p>
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<p>$80,000 in undergraduate debt is considered too high by most around here, and it is not a good idea to start expensive medical school dragging that much undergraduate debt along.</p>
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<p>Most of the more generous-with-financial-aid private schools have their own methodology for determining EFC, rather that just using the FAFSA method. This can result in a significantly different EFC. In addition, “meet full need” schools will have an ESC (expected student contribution) to be covered by student work earnings and/or direct loans.</p>
<p>Would it just be better to wait until I receive a financial aid package before I worry about money</p>
<p>Goingnutsmom, I did receive a $76,000 ($19,000 per year) scholarship from Seton Hall University. Although that is my safety school and I’d rather go to Rutgers</p>
<p>@Ucbalumnus
A lot of times public and private schools will meet full need with some of the money being free and some being a loan, which I put in my first post. </p>
<p>The difference between the two is that private schools will usually give more money (93% free 7% loan) than the public ones (60% free 40%loan).</p>
<p>Depending on each school it could be different, but I just used the colleges I was applying to as an example.</p>
<p>And thank you all for your responses!! I appreciate the input</p>
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