Hey Everyone! Decision day is just over a week from now and I seriously need some help in picking where to attend college. My two top options right now are Notre Dame and the University of Minnesota (Honors Program).
Financially, I got a 15k scholarship from UMN, which would cover tuition fully at it’s current in-state price. I didn’t get any scholarships from Notre Dame, so it would cost full sticker price. My parents have a $60k savings account for me to use toward college, but they have also agreed to pay tuition wherever I go. If I go to the U, I would have about $20k left over when I graduate for travel/car/house deposit. If I went to ND, I would blow through this money in the first year and have less of a financial cushion. However, I am also a national merit scholar, so if I went to ND I could possibly get money from that, as well as other scholarships.
Originally I am from Minneapolis, so I know the area well and going to UMN would be close to home, but I also want to branch out a little and not spend my whole life in Minnesota. I really want to study abroad during college (ideally a German-speaking country) multiple times if possible.
I took 9 AP classes in HS and got mostly 5’s, with one 4 in Bio so I would get some credit going in (more at UMN). I am undecided what I want to study, but I am considering Economics.
My family is catholic and I went to a catholic elementary school, but I am currently at a public high school so I have experienced both worlds, and don’t really have a preference for one or the other.
Long story short, do you think it is worth it to make the financial investment to go to ND? Will in be worth it in the long-run job perspective wise?
You’re saying your family is full pay at ND and you received $0 aid in your financial package? Is that correct?
It’s unclear to me how your family will pay for years 2, 3 and 4.
Have they told you they are able AND willing to pay almost $70K x 3 for you to attend ND, assuming you use up the $60K in your college fund for your freshman year?
If ND is unaffordable for your family, embrace the U. It sounds like a great opportunity.
Its true they don’t, but the corporation its self does, however that is much less substantial that what a college would give. Is it still not worth it to go to ND even if my parents are able and willing to pay fully for my undergrad?
The extra $200k they would spend on ND is money they could invest elsewhere, or use to help you out with something in the future (like grad school), or leave you in their will. That money doesn’t vanish if it isn’t spent on Notre Dame.
There’s never enough info provided in these threads, but if you’re parents can “afford” ND, then go there. Every family’s financial picture is different, and zero debt may not be possible for every family. If you’re parents have to borrow the amount needed for your entire ND education, but for the $60K savings account, then it doesn’t make a lot of sense.
Ultimately, your parents will need to have the income and assets to support the entire family, other kids education, plus save for their retirement. If they can fit ND in there, then go to ND.
If your parents have the money and are willing to pay for ND, then that is worth considering. Choose your undergrad courses at UMN wisely, as it is possible in both the BA and BS program to never be taught by a regular professor in econ at MN. Applied econ is worth looking at there, too.
You are full pay, with no financial aid at ND. Your college account will not cover freshman year at ND. Where is the rest of the money for freshman year, and beyond coming from? Having your parents borrowing over $200,00 for ND is an a bad financial decision.