May is approaching extremely fast and I find myself stuck between two schools not knowing what to choose. I could really use some help from current college students or even parents who are in the same scenario.
Let’s call one school A and the other B.
School A is a really small beautiful private liberal arts school. I personally liked this school because of the artsy feel to it. It’s extremely small, maybe about 175 freshman and it’s in a really small town. What I’m worried about is the cost of this expensive private school. This school awarded me 32,000 over four years which would probably be a few thousand a year. I live in a single parent household so I’m getting a fair amount of aid and the rest would be loans. This school is amazing and everyone I’ve encountered has been extremely nice and I even got a hand written letter from the admissions rep that represents my geographic location. I also felt a great connection with the admissions representative because this school was a reach for me I feel that the representative really put in a good word for me and taking a chance on me because I had gotten admitted into the school. I have a documented learning disability and the admissions staff really did a good job at accommodating me by suggesting that I do their summer bridge program so can show up two weeks before the move in date and get acquainted with the disability support office staff before I start my classes. I obviously understand that the admissions reps have to be nice to every prospective student. The issue is… I don’t want to be in a insane amount of debt when I graduate.
School B is one of the smaller state schools in my state and also is located in small town. School B has my attention because my best friend is attending along with other students from my high school. School B also has more majors and minors so I would have that flexibility if I chose to change majors one day. This school is also SIGNIFICANTLY cheaper by far. This school has the basic state school price tag and I can also get in state tuition as well as some of the state granted scholarships for inner-city students. Although this school is a state school it has about 9,000-11,000 students. I feel very ready for college but I am worried about the class sizes of this state school and navigating a bigger school with a learning disability. School B also gives me a really good feeling because it will be an exciting experience with football games and going on a road trip to attend the school as well as having a wider range of people attending.
So far, I have been switching off which one is best for me for about two months now. Since May is approaching I’m finding this decision EXTREMELY hard. I also feel that once I submit my enrollment deposit I still change my mind. Overall, if anyone could give any advice about picking a school, making the right choice and sticking by my choice 100%
If you can tell us the names of the schools and your cost of attendance per year (how much you will be paying, and how much and what types of loans), we can give better advice.
With just the information provided, it sounds like school B is the best choice. Have you contacted their office of disability services ?
I agree with Intparent that it’d helobusbgive you less generic advice if you told us what those schools are and your exact costs /package.
And what your family can afford.
*that it’d help us give you
ADDITIONAL INFORMATION
I’m getting the full amount of aid and they’re not expecting any family to contribute for both schools. Basically, my choice will mainly be based on how much debt I will be collecting until I graduate in four years. Other information about me is that my disability support workers at my high school suggested that I take only 12 credits for the first 1 or 2 semesters, just to insure that the transition is as smooth as possible. Having of had prior conversations with the support workers at the private school this is also something they suggested I do as well. The average freshman would probably take about 15 credits a semester and 12 is normally what colleges suggest. I’m still confused if this would mean that I would be “taking longer”
Also, additional information about my disability. In high school my classes are about 25-35 people. I never had a huge problem with the size unless it was a math of science class. Accommodations I would probably use in college would probably be: preferential seating, option to request additional notes, having a note-taker in class with me, taking tests/assessments in a alternate setting and additional time on projects (getting assignments a week or two earlier)
I have no problem really with the size of 25-35 people but I also here state schools can have classes up to 50 or 150. This is mostly what scares me. I can handle maybe one class with this type of structure a semester.
The private school is 47,534 for the sticker price and the same for the estimated total. I have no EFC. I got a $32,000 grant over four years. The aid package on average is about $26,111
The state schools average aid package is about $1,138 and the sticker price is $8,688 for in state and $21,501 out of state. Like I mentioned before, I am in state.
The estimated total is about $22,482 after (room and board, books and supplies, personal expenses, transportation)
Also, since I am a state residence that has free/reduced lunch there is a state ran scholarship that is granted once I claim my aid that ranges from how much money my family makes.
$47,534 - $16,000 = $37,534
Sticker - Grant = Balance
How do you get the average aid package figure of $26,711? Does that include any loans? Even if that is your total aid for next year, and it all is grant and scholarship money, you and your mom would still need to come up with almost $11,000. You can only borrow $5,500 in federal loans. The rest would have to be parent PLUS loans for your mom, or loans that she co-signs with you.
For your state school, you need to get better information about the aid package. Do you have a Pell Grant? If so, how much is it? Based on your family income, what will your state scholarship probably be? Contact the financial aid office and get the details. It really, truly is OK to ask them.
Here is the calculator you want to use once you do have all of the numbers:
http://www.finaid.org/calculators/awardletteradvanced.phtml
Can you talk about one year vs four years? The way you are describing it is confusing. Also, being coy about naming the schools is silly. No one is watching for you out here… we probably know things about the specific schools that you don’t, too.
I get:
$47,534 - $8,000 = $39,534
Sticker - Grant = Balance
That would mean $160K in loans… Not acceptable IMO
How much will you be borrowing EACH year for school A?
How much will you be borrowing each year for school B?
Forget the average aid, look only at your aid offer. If it has’t come yet, you need to wait and see.
YES, looks like the private is expecting your family to contribute. They may have marked you somewhere as “0 EFC,” (as an official designation per a formula,) but they are leaving you with a massive bill.
We don’t talk “sticker” and leave that so vague. Sticker what? We need “cost of attendance,” which should be the full annual total: tuition, fees, RB, and misc.
If the private offer is 32k over four years, looks like the annual (free money) is 8k. If the annual COA is 47.5k, your annual balance is 39k. Maybe they offered you work study and loans and expect you to work summers, toward that balance. But you are left with a huge bill.
Sorry for being coy with names. I know that for FACT I’m eligible for as much aid as possible.
I also know that although both are expensive the private school costs way more. I’ve already calculated my numbers and my situation 100% let’s me start in the fall.
What I’m really asking is about the decision process and making the right choice that won’t financially crush me in the long run. Obviously as an 18 year old I can potentially sign my life away.
The private school isn’t a extremely prestigious school and has about a 80+ acceptance rate.
The public school has “street credit” all around the state and although it there are better state schools in my state, it is still considered to be a good school.
Thanks for correcting my math @Erin’s Dad ! I should have pulled out a calculator rather than trusting my brain cells.
Same with the state school. Forget averages, kids rarely get the average amount, it’s just a math calculation. Forget out of state numbers, they’re irrelevant.
If the full COA is 22.5k, what did this college offer you? Can you commute from home?
I am getting a $5,815.00 pell grant and a $8,000 university grant
The remaining need would be $15,415.00
And they aren’t making me have any student contributes or any parent contributes
You have to be straight. Exactly what is the sticker cost of each college? Then what have you received in grants, loans, work study, etc?
Or do you not have aid packages in hand?
And again – without school names, no one can tell you whether the cost differential is worth it.
On debt: You should do your absolute best to avoid borrowing than the standard student loans ($5,500 freshman year, $6,500 sophomore year, $7,500 junior year, and $7,500 senior year). If you find that you can’t be educated anywhere without more debt, and you are offered Perkins loans, then accept those. If you aren’t offered Perkins loans, then a small PLUS loan might be OK. If you were an independent student or if your parent applied for a PLUS loan and was rejected, you would be eligible for $4,000 more in standard loans every year. A PLUS loan in that range probably is workable for many students.
As for paying all of this back with a 10 year schedule, you can roughly figure on $100 each month for every $10,000 of debt. That may not look like much now, but just think what happens to your paycheck every month if you run up a total of $40,000 in student debt and the first $400 of your take-home pay is sucked off to pay off student debt every single month for 10 long years! Use the calculator here to get more precise estimates for loan repayment: http://www.finaid.org/calculators/loanpayments.phtml
Thank you for getting back. I cannot live off campus because it is a 2 hr commute.