@kelsmom - I’ve asked Cornell directly and they said the financial aid for transfer students is given as if transfer had applied as first years. I was given a transfer option, so basically i’m a guaranteed transfer.
@“aunt bea” I see. Cornell most likely took other things more heavily into account like my parent’s retirement benefit and home equity, which CMU probably doesn’t emphasize as much. I do plan to appeal, and matching the aid completely with a 14k difference is unlikely, but I want know how much more Cornell can give me. Even giving me 5k more would be enough to persuade me to go, but from what I’ve heard appeals from all schools usually go up to 1 or 2k.
@thumper1 As for rental income concerns, my primary residence has two floors. I live on the first, and the second floor is where the tenants live. So my family’s rental income only comes from one floor (15k a year). My gross adjusted income(6k) only stems from my rental income and property tax expenses.
I have not withdrawn from CMU. I am a full time enrolled 4 year student. I have the option of accepting an admission offer from cornell for the next 3 years of my undergraduate of college. I have submitted my Fin. Aid. to CMU but because CMU assumes I’m a returning student, I don’t think CMU’s fin award letter will come out in time before my cornell deposit deadline. But i anticipate CMU’s aid to be relatively same to what i received this year, so i anticipate be paying almost the same, 7k, next year again. I have emailed CMU’s fin aid office.
@mom2collegekids CMU cost 7k and cornell will cost 21k a year. So in essence that’s a 14k/year difference for the next 3 years. Basically i will be paying 40k extra for my bachelors if I decide to transfer to Cornell. My parents are willing to fund me, but I plan on paying them back. 40k will most likely deplete my savings from my first year on the job after I graduate.
1)Oh i'm sorry if i didn't make this clear before. I was waitlisted at cornell my senior year of high school, and then was offered a transfer option which is basically a guaranteed transfer to Cornell if i maintained 3.5 GPA at CMU, which i did, so i was offered admissions last week.
So this caused me to constantly have the idea of transferring to cornell in the back of my mind for my entire freshman year here at CMU. I was heavily leaning toward on transferring. This made me a bit depressed honestly because I didn't get involved in many activities on campus and wasn't as proactive/extroverted in making friends since I was thinking if I left in a year, it wouldn't make sense to get attached. Additionally, when making a schedule, I leaned my course load toward fulfilling Cornell's required course work for transfers, so if I stay at CMU some of the classes i've taken this year (physics etc) won't be as effective in satisfying grad reqs If i stay at CMU. Many of the GT transfer applicants faced a similar situation. This difference in financial aid is really distressing me because it's affecting my decision of transferring and potentially staying, and if I stay i feel like I would have wasted an entire year here.
2)I'm a business major in CMU's Tepper school, nontarget for IB. I was accepted as to Cornell's equivalent business school (dyson) as an Applied Econ and Management major, a target for IB. Initially, I was thinking about Investment Banking as a career, but after reading more into about the long unbearable hours and the similar work style that can follow even after leaving IB, i decided it wasn't worth compromising health and a normal life for a job. So now at Tepper in CMU, i'm interested in concentrations in operations management, finance(sales&trading), and something to do with math/statistics.
In cornell's AEM major, I would pursue a strategy/finance concentration with a double major in Biometery which is applied math and statistics. I really enjoy mathematics and in a sense I regret applying to business school, which is why i'm trying to double major at Cornell or do something math related at CMU. I don't have my career fully planned out yet, but it would be math/stat/operations related. Both schools do have my interest I guess.
In brief, CMU/Cornell have similar starting salaries of 70k, but Cornell does have the ivy name and better recruiting for a broader range of interests. I would be paying 40k extra for my entire education if I transfer to Cornell. I have until mid may to decide whether a Cornell degree would be worth the extra 40k over CMU degree.
This situation is making me break down and panic, as I have until mid may to decide.
Thank you all so much for bearing with me and asking your insightful questions.