So recently I have been accepted into both Holy Cross and Providence, and they are my top two college choices. I can’t decide what to do at all. Holy Cross will end up being 10k more than PC with scholarships a year. Is the “prestige” of Holy Cross worth this extra 10k? Are the academics so hard that I’m going to be killing myself to get good grades? I just don’t know what to do. I love both schools and I just don’t want to make the wrong choice. Please help.
@kate322 - congrats on two solid choices. My D has been accepted in STEM major at PC with an awesome merit package. She is giving it a hard look - we attended EA accepted student day last month and will attend family day next month. She loves the campus vibe, the hip city of Providence, and new science facilities. What is your intended major - appears to be business from another one of your threads? You need to consider Return on Investment for your intended major, especially if Holy Cross will cost you another 10K/year.
I am not completely sure on my major yet, I am between business and political science right now.
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HC has a DC semester that is competitive. Overall a slightly better reputation. But if you are going into debt majorly not sure it is worth it. Also neg is that HC is a very homogeneous campus. Maybe PC is more real world? And if they are offering you better package give them a look. They are in RI capital city and may have legislative internships more so than HC.
I’ve heard that Holy Cross has a pretty strong alumni network in New England business and politics if that’s the route you’re thinking about going down.
I would probably have to take out almost a $100,000 loan for Holy Cross, whereas Providence I could most likely have the whole thing paid by my parents. Not sure if it’s work it. Holy cross is where I want to go but it’s a tough choice.
Congratulations on getting into your two top colleges. Here are my comments:
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I’m not sure I get the math. If HC is $10k more than PC (per your initial post) and your parents can pay for PC, then why would you need 100k in loans for HC?
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You can’t take out $100k in loans as a student. Are your parents willing and able to co-sign a loan of that magnitude?
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Even if you could take out that amount of debt, graduating with $100k or so in student loans would handcuff your life decisions for 20+ years after graduation. The large payments you would have to make to cover your undergraduate loans would interfere with every adult decision you make – it would mean you probably couldn’t take that amazing job at a start-up for less pay, get that new car, take a nice vacation, get the home you want etc.
I suggest you go with PC if that is the affordable/no or low debt option – especially since you “love both schools.” Your adult (debt-free) self will thank you.
As usual, I’m confused.
HC claims to meet the demonstrated financial needs of all accepted applicants. Why the $100,000 gap?
I agree with the above. If it was $10,000 a year I would probably pick HC (and I went to PC). I think it just has a much stronger reputation, esp in the Boston area where I live. I also think HC has much more of a national reputation whereas PC’s rep is very regional. Someone referenced the “homogenous campus” above when referring to HC. If they are referring to the student body, I would say PC is very homogenous as well, mostly white, upper-class and Catholic. It’s definitely a party school, although I think HC is as well. If you are talking about going into $100,000 in debt, I would definitely pick PC as you will get a fine education there.
It is not worth taking out $100k in loans to attend HC over PC. Not by a long stretch. You will indeed get a fine education at PC and moreover graduate debt free and able to apply and go to graduate school unencumbered. Great for PC for making this possible for you as you seem like a talented student.
Is $100K in loans even an option, really?
You cannot borrow nearly that much in your own name.
If your parents cannot afford the EFC, then they may not be able and willing to co-sign for that much, either.
https://studentaid.ed.gov/sa/types/loans/subsidized-unsubsidized
At most selective colleges, average student debt at graduation typically would be more like $20K-$45K, not $100K
(among those with any debt at all).
https://www.kiplinger.com/tool/college/T014-S001-kiplinger-s-best-values-in-private-colleges/index.php?table=lib_arts&state_code=ALL&id=none&sortby=ug_class_avg_debt_d&sortorder=DESC
So the 100k came from Holy Cross most likely taking the 10k financial aid they gave me back because my parents are divorced and we had originally only given my moms finacial information and now Holy Cross is making me send my dads as well, so when the income is doubled, I am assuming they will take my finacial aid away. My dad has money but is only willing to pay 10k a year so he is estimated to pay more than he actually is.
Hi. Holy Cross alum here. And the parent of a junior in high school just beginning his search process. I graduated a long time ago, but I can attest to the strength of the alumni network. I have leveraged contacts many times, and vice versa (I love to help HC students/new grads find internships and jobs). That being said do NOT go into 100K debt unless you absolutely have to. If you got into both HC and PC, you are a strong student. The qualities that got you there are what will get you other places during and after college. A lot of HC students go onto grad school (a majority, possibly). You do not want to start grad school knowing that you are already 100K in debt. Choose PC (and it hurts me to say that!). My older kids have zero college debt and many of their friends have a lot. Both of them thanked us profusely for affording them that privilege. THAT opened a lot of doors for them as they had more choices than their debt-strapped friends.
Sounds like your issue is with your Dad unfortunately, not HC. You can’t choose to leave one parent’s income out. That was correctly asked for by HC.
Go with the school that will overall grant you an education with the least debt. They are so similar. Cheers!
Update: they did take the 10k away:( so now holy cross is 20k more than providence. Can someone explain to me what 100% of need met means? Does it mean I’m not suppose to have to take out a loan? Why should I be punished for my parents I come if they are not paying what they “expected” to pay. Just really confused.
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Based on the info you submitted on the CSS Profile, such as each of your parent’s salaries, assets, etc., HC determined how much they thought your family could contribute next year. “100% of need met” means that HC is covering the difference between the cost of attendance and that number. That need can be met through a combination of grants (meaning you don’t have to pay that money back); loans (HC has its own institutional loan program, and there are also student loans ($5,500 for Year 1), and Parent PLUS loans), work study, etc.
If you type out your new financial package, people here can walk you through it and explain each type of aid to you and whether or not it has to be repaid.
Holy Cross isn’t worth $80K more than PC (unless money is not an issue). The location of PC is much better than Holy Cross. Yes, HC is higher ranked but you will get a good education at either.
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Meeting need does not mean that the college will pay whatever your parent’s don’t want to pay. Each college will determine what they believe your parent’s can/should contribute to your college education and full need schools will give a combination of aid, loans, work-study to make up the difference. It sounds to me like HC is not affordable given what your parents are willing to contribute towards your college education.
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Fortunately you appear to have an excellent, affordable choice with Providence. If that statement is correct, I strongly suggest you accept the offer at PC and move forward.