Hey guys. So Georgetown has been my top choice for the past year, and I got accepted into MSB in the EA round of admissions. Unfortunately, I received literally no financial aid from Georgetown so I’d have to pay 74k a year to attend. I’m estimating that I’ll have around 80k of debt by the end. On the other hand, I received a full-ride from The Ohio State University, but I know it’s not nearly as good. For those currently attending Georgetown / those who have committed, do you honestly believe Georgetown is worth passing up a full ride and why? Also:
Are Georgetown kids really THAT stuck up? I read somewhere that 21% of kids are in the top 1% income bracket which is CRAZY given that I’m middle-income and from the Midwest.
How hard is it to maintain at least a 3.7 GPA in MSB?
What is the drinking/partying culture like? Personally, I’m not too into that scene.
Has anyone had success appealing financial aid decisions? (I also got around 15k from Indiana University in Bloomington, bringing my cost of attendance down to about 37k. Not sure if this information will mean anything to them).
Note: I’m planning on majoring in International Business or Finance, with a minor in Public Health or Poli Sci.
And Georgetown is soooo absolutely not worth going $80K in debt for (take if from an alum!). Perhaps if you were planning to go into the Foreign Service and got into the SFS, but even then it wouldn’t be worth it…Take the full ride at OSU!!
I have a 35 ACT and a 3.98 UW GPA with 11 APs. School doesn’t report class rank but I’m around top 2-3%.
Edit: We’ve figured out a way to finance without me going into debt (involves my parents not saving anything for four years) although it’s still not a great option
OSU is a fabulous school. My son is there now. Georgetown would be hard to pass up, but I would knowing what OSU is offering. It’s a wonderful state flagship.
With a 35 ACT & a 3.98 GPA, you should have many offers of admission. Between OSU on a full ride & Georgetown at full sticker price, the answer–and the more impressive accomplishment–is OSU.
There are many many kids from my D’s high school with the same (or even better) stats as yours. You will find many intellectual peers at OSU, if that is your concern.
My son is weighing a similar decision. Georgetown SFS v. UVA. Still waiting on the Georgetown financial aid package.
Congrats on the OSU package. It means that the value of your package is worth much more than $80k in debt you might incur because the overall cost is $0 v. $280k. I would save that for grad school. Or a house.
$80k is far too much debt for a bachelors degree. I came out of school with a bachelors/masters with $50k in debt and even that’s difficult sometimes. I’m a computer professional. You’re far better off going to OSU. Once you get married and start a family, life has a way of throwing expenses at you like a government conspiracy. Coming out of college debt free is a huge advantage
@coolguy40 I actually read your response to my son last night because it is so very true. I read @Publisher’s comment too. Both made me laugh. We still don’t have the financial aid package from Georgetown, but I just can’t believe that they are going to be competitive with the scholarship offer my son received. when I asked the FA office, they were very polite, but told me that Georgetown does not match scholarships from other institutions.
If you go into a higher-paying job path, AND you do not pursue a grad degree in the first 5-10 years, the undergraduate debt issue is not as large an issue as some make it sound here on CC. The real problem with undergraduate debt is that it will limit your options far more than you realize as a high school senior.
$80k debt is fine if you go into consulting/investment banking in the northeast, stick with it, and forego an MBA for at least a while. $80k in debt is NOT ok if you decide you hate investment banking, or want to pursue something in the nonprofit sector, or move to the Midwest, or decide to go to graduate school in the first five years after your BA. Everyone I ever knew who had significant undergraduate debt, then borrowed more for graduate school, was miserable well into their late 30s as they were forced to delay having a family, buying a house, etc. Lord forbid you then go off and marry a person who also has significant debt. I have seen that, and it is not pretty.
Such good, and wise, comments here. I totally agree. I think the most anyone should have coming out of college is 30-40k max debt. Considering anything more, even with a Georgetown degree, would be foolish when you have other debt free options.
Did you ever get a financial aid decision from Georgetown? And was it generous? My son is still waiting on his. Also deciding between Georgetown and UVA.
Hi EJaneWench! I am waiting for FA from Georgetown as well. Torn between Rutgers Honors College with 20K/year scholarship offer; in state tuition. My cost will be $15k/year if living in campus.
