I am really struggling with this. My child has received a full merit scholarship to Miami architecture (plus a slew of other benefits) and also got into USC and UVA. She has her heart set on going to USC, but how do we pass up the free ride. Clearly USC is a better school than Miami, but is it $400K better. We will have to go into debt to manage this and I have another child approaching college in 4 years. It would break her heart for me to say no, but financially it is probably the right thing to do – am I really sacrificing my child’s future so much? Most people who come from the academic side say it is worth it and schools like USC open doors like no others. With Architecture, your early years you don’t make that much, so the payback won’t be until years 7-10 likely anyway. Anybody have thoughts or similar experiences?
While I sent two daughters to USC and really appreciate all that it is and offers students… especially as they evolve into alumni… no single university is worth the differential in terms of family expenses that you are describing. Save the $400K, and if need be, use some of it to assist her in other ways in the future.
How much debt are you considering? You need to be fair to your other child.
Are you instate for UVA? What is the cost for UVA?
Has she visited U Miami? Honestly, I don’t see a real choice here. Your daughter should go to Miami.