Ok so there are 3 colleges that I am really considering, Colorado College and Macalester College and another instate college, and i am very low income and they offered me very generous offers for their schools, I would only have to pay 6000 for Macalester and Colorado and my instate is completely free. My instate is not as great as Macalester and Colorado but since i am low income, money really matters. I want to do economics/international business. My instate school is kind of mediocre at everything but has the best medical school and arts school but since i’m not going into that field, i don’t think it matters. So the question is simple, should i go to an in-state school for free or pay 6000 a year to go to Macalester or Colorado. I love both schools and I have visited all and just can’t choose. Financial aid is a huge part of my decision so just let me know what you think i should do? THANKS!!
Congrats on your success! It’s hard to give absolute advice without knowing the exact facts. I think I’d be inclined to look at it this way:
First, is it guaranteed that if you maintain grades it will only cost you $6k per year total, including room and board, though I’ll assume not books, supplies, and transportation.
If so, then by going to Colorado College or Macalester and paying the $6k or so per year, you are really betting on yourself to do well enough that you will get a good return on investment (ROI) on that money, whether you pay it now or borrow. So, are you a good bet? Will you go, work hard, and be proactive in taking advantage of all the opportunities these schools provide, including internships and career placement services? Then it will probably be worth it in the end, even with something under $20k in debt. I’m guessing with the acceptances you’ve worked hard up to this point. So you can consider that.
If that money is not guaranteed all four years, or their are pretty stringent requirements to maintain it, and you are looking at real costs much higher than $6k per year, then your home state school is probably a more reasonable option.
A tip: wherever you go, get to know the people in career services from first semester freshman year. They often offer classes and seminars for incoming students. It’s a great way to learn the process and make it possible for you to hear of opportunities. Good luck!
Which instate school offered you a free ride?
Also, if there are merit scholarships involved at any of the schools, what is the college GPA threshold to renew them? A student earning a top-end merit scholarship usually does not have too much trouble with a 3.0 college GPA, but a 3.5 college GPA threshold may be more stressful.
Really depends upon which instate school.
My instate is VCU.
Three very different schools. Would you be comfortable taking one class at a time at Colorado College ? Colo. College students tend to come from very high income families.
Macalester is a very liberal school located in a cold climate.
You should know quite a bit about Virginia Commonwealth University.
Based on the information shared, VCU because there will be additional travel costs beyond the $6,000 per year at the other schools.
P.S. If you really want to try CC or Macalester but finances are still a barrier, ask each school for additional financial aid. Doubtful it will be granted because you can borrow $5,500 per year.
I can understand wanting to experience Colorado in such a beautiful setting.
Also, at Colorado College the students take frequent trips as there are many long weekends at the end of each three and a half week term. This requires additional money for travel, lodging, food & ski lift tickets, etc.
The economics page at VCU shows a large faculty and course selection. The business school seems to have a large international programs office in addition to the general VCU study abroad program. The political science major has an international relations track where you start taking international relations classes as a freshman, not as a senior year elective.
And it’s FREE.
Yes, VCU is known for it’s arts program, but the opportunities in your areas of interest seem to be broad as well.
Is the $6000 your parental contribution? Does your financial aid package include work-study? How many loans are included in your package?
Undergrads typically earn around $2200-2500 during the year from a campus job working 8-10 hours a week, and you can pick up at least another $2500 or so during the summer. $6000 a year seems doable, and I personally think a college like Macalester is worth the extra cost. YMMV.
Colorado College is virtually unique for its one-course-at-a-time schedule. If that is something that really appeals to you, I would factor that into your final decision. You won’t be able to replicate that at VCU or Macalester.
^I’d have OP take at least 3K of the Stafford loan per year also for travel expenses etc.
I live in Virginia very close to VCU and I understand where you’re coming from being concerned about VCU’s relevance in comparison to the two schools you would pay $6000 for, but ultimately I would choose VCU if I were you. I have never heard anything negative about VCU from the friends I have that attend, and it really does have a great reputation. While it is known for its med and art schools, its other schools are certainly not looked down upon. Many students from my school (a very competitive, private high school) attend VCU even after all the pressure from their parents to go somewhere like UVA or W&M. A student from my school who got into places like UVA and even Vanderbilt also received a free ride from VCU. She chose VCU even while she was probably able to afford the other schools. It is no less prestigious, studious, or impressive of an institution than other places. The acceptance rate may look high, but so are the amount of students that come out of VCU very successful and with great job placements. In my opinion, it does not matter where you go to school, as you will ultimately get out of it what you put into it. So, if I were you, I would go to VCU, work hard, and become very, very successful! You stress the factor of being low income, and for such a great school, I would not pass up a free ride to college.
What are the details of the aid packages? Do any of them include the federal student loans? Is that $6,000 after all aid including the federal loan? If so, where are you going to get $6,000 each year from?
Travel expense is definitely something to consider. I don’t know anything about these particular colleges, but it sounds like $6000 plus travel could be a strain, while free and near home is of course easy to manage. You could start out after graduation with no loans and money in the bank from a part time job.
DD’17 has low income friends that chose a private school- the prices sounded pretty good with all the aid, but already one is transferring next year in an attempt to save money and the other is stressing as the financial situation at home just got worse due to a disability. Meanwhile my DD chose community college and there is no money stress which she thinks is awesome.