Help me, I'm poor

<p>BC considers home equity so there is an advantage to having more debt in that sense. BC also considers other assets so there is a disadvantage to saving in that sense. Whether people like to acknowledge it or not, there is a penalty for being responsible when it comes to financial aid. I don’t know of any formula that considers how extravagant a lifestyle you led leading up to the college years.</p>

<p>any college that uses Profile considers home equity…colleges just value it differently. FAFSA-only schools – primarily publics – exclude home equity.</p>

<p>Emotup that is exactly where my frustration lies. I know my parents’ income may make my family seem wealthy, but my dad’s a cop and my mom’s a teacher, so we live a modest life. We do well and live comfortably, but there’s no way I can afford to pay almost full price at BC.</p>

<p>Dear money11, </p>

<p>I sympathize with you and completely understand your frustration. Yours is one of those families that is “caught in the middle” when it comes to affording college. I hope BC is considering the impact of losing this group on their student population. That being said, I would not recommend that you and your parents take on full tuition (or anything close to it) unless they have 1) sufficiently funded their own retirement and 2) saved enough for college to avoid excessive loans. If BC is not in the cards for you, you would do well to embrace one of your other options. It might turn out to be your dream school after all.</p>

<p>If anyone was wondering, I ended up committing to UMass Amherst in the Commonwealth Honors College & the Isenberg School of Management. Overall, I think I made the right decision, as I will graduate debt free and can head right on to get my MBA hopefully at a school even BETTER than BC. On top of BC giving me barely any financial aid, I realized that BC would have taken my need-based aid away after I reported the thus far $12,000 in scholarships I received from outside sources. While I am disappointed to have worked extremely hard to get into schools like BC, Holy Cross, Northeastern, and Bentley, in the long run, a private school education is not worth 3x the amount that a public school education is. It seems to me like private universities are squeezing out all middle-class students. And those middle-class students who attend private schools without sufficient financial aid (which seems to be the case for a lot of students in my school) are making a HUGE mistake, in my opinion, because they graduate with loans worth that of a mortgage. And what for? So they can take pride in telling everyone they’re going to “a great school?” Any school is a great school if you work hard. It didn’t make sense for me to take out $100,000 in loans and struggle for 4 years trying to make ends meet, and then receiving that bill in the mail for the next 20 years of my life all because I wanted to go to my dream school for 4. And it might have made me feel out of place amongst the rich kids who’s parents write a $60,000 check each year without so much as a thought, while I’m working every chance I get to make minimum wage. </p>

<p>In the end, it’s BC loss, as I’m sure I would have been an involved, eager, and dedicated student. I might just be bitter, but I wouldn’t even consider applying to BC to get my MBA-- I’ll go even higher than that and shoot for the Ivies. </p>

<p>Thanks you to everyone for your input & good luck in the future!</p>

<p>Dear money11 : Your essay defines a value-for-money evaluation of Boston College through your prism - which makes your assessment completely valid for your situation. Families paying the Boston College bill have drawn a different value-for-money conclusion.</p>

<p>Evaluating a collegiate education singularly along a cost axis without consideration of the opportunity differences resulting from private vs. public education will usually tilt the scales in favor of a state university. Be sure to explore on-campus recruiting, alumni networks, on-campus research opportunities, infrastructure renewal, facilities, on-campus services, and academic faculty research credentials when considering the cost angle.</p>

<p>You are correct in citing that “great schools” are those that help you achieve your personal best. UMass/Amherst offers attributes that will serve you well in your education.</p>

<p>For now, forget about MBA degrees and Ivy League options - enjoy your final days of High School and prepare for your collegiate freshman season. Enjoy your time at UMass and soar to greatness.</p>

<p>All the best and good luck.</p>

<p>Dear Money11,</p>

<p>You sound like a great kid. If you apply yourself and take advantage of all that UMass Amherst has to offer, you will go far. For that reason, and because I am concerned that BC’s financial aid policies are negatively impacting its economic diversity, I would have to agree that this is BC’s loss. It sounds like you have made the right decision for your and your family. Never regret having worked hard and achieved a strong background and education. None of that could ever be wasted. Good luck!</p>