<p>Hi CC, I could really use some anonymous advice.</p>
<p>I'm a bioengineering major from the Bay Area (CA) choosing mainly between Berkeley, UCLA, Stanford, and Harvard. I did not get FA at Stanford or Harvard, so they would be a bigggggg stretch for my family.</p>
<p>I'm leaning towards Berkeley over UCLA because I have Berkeley Regents, so I would have priority registration etc, but I might choose it if I prefer the atmosphere. (I'm worried about competition, feeling "lost in the crowd", and so on.) But I wonder if I'm crazy for giving up Stanford and Harvard so easily. I'm planning to go to grad school, so I guess undergrad wouldn't matter too much, but plans have been known to change.</p>
<p>Look, this depends entirely on what your family can afford - and none of us is in a position to assess that.</p>
<p>I don’t know what a “big stretch” means for your family . . . giving up that annual vacation to Hawaii, or closing out their retirement accounts to pay your tuition? If they really can’t afford Harvard or Stanford, then go with one of the UC’s. Especially if you think grad school is in your future, it makes sense to not spend beyond your means for undergrad.</p>
<p>By the way, priority registration is quite a perk - congratulations on the Regents! And, just for the record, I’d have a lot more respect for a UC grad who graduated debt free than a Harvard grad who put his parents in the poorhouse just to pay tuition. They’re all fine schools and you’ll do well graduating from any of them . . . so make the decision that works best for you and your family.</p>
<p>Under NO circumstances should you jeopardize your families financial future, when you have the ability to go to UCB or UCLA!!
The name that will matter after grad school, when you are applying for a job, is the one at the top of your CV- i.e where you went to grad school. Where you went to UG is of little consequence at that point.
You will find plenty of opportunities at UCB or UCLA to do lots of UG research that will help you get into S or H again, or into plenty of other grad schools, trust me.
So go to UCB or UCLA, save your parents a boatload of $$, and that way you ALL can breathe a LOT easier 4 years from now.</p>
<p>If both Stanford and Harvard don’t give you any FA then certainly your family can pay. This is up to your parents.
I help both my kids choose MIT and Penn over UCB.</p>
<p>There are many, many families who do not qualify for financial aid, but for whom it would be a huge hardship to pay that kind of tuition. A family living in a region with a high cost of living, for example, could be using all their available income just to pay the bills. Sure, they could sell their home and move to Appalachia, and then their monthly expenses would be lower . . . really???</p>
<p>A family might also fail to qualify for FA due to significant assets … . but just because they have those assets does not mean they can necessarily afford to borrow against them, and selling isn’t always possible. And what if the asset is the family’s sole source of income (think rental property)?</p>
<p>This family may well not be able to afford the cost of Stanford or Harvard tuition . . . and that’s something only the family can decide.</p>
<p>“Certainly your family can pay”- this is a sad misconception, actually. I’ve heard anecdotal evidence left and right that many people are in the same circumstances as me. But anyway–</p>
<p>If I chose a private school, I’d take out lots of student loans, work as much as I could (possibly jeopardizing my ability to play on the club soccer team), give up expenses like study abroad, and cut back with my family on food, clothes, etc. We’re still working out exactly how we would pay for it.</p>
<p>So that’s my financial situation, if it helps. Thanks so much for everybody’s replies so far! </p>
<p>I still feel apprehensive about the large class sizes and competitive atmosphere, if any Cal students want to chime in.</p>
<p>Let’s go to your original question – how much is an Ivy League education worth?</p>
<p>The short answer – no one really knows.</p>
<p>The slightly longer answer – some Princeton professors have done a study in which they track students who attend Ivy League schools vs. Students who were accepted at Ivy League Schools but went elsewhere for whatever reason. I believe the measurement is career earnings (but it’s been a couple of years since I looked it up, so I may be wrong). My recollection is that the study was unable to find a statistically significant difference between the two groups. (If you use your google skills, I’m sure you can find the study).</p>
<p>Nonetheless – if it were my child and we could afford it without either limiting the educational opportunities of other children or imposing a severe hardship on your family, I’d send her to Stanford or Harvard. (In fact both my D’s attended private universities without scholarships, when there were less expensive options (scholarship/state U, etc.).</p>
<p>Your case – not knowing what a biggggg stretch means, I can’t answer your question. My advice – talk to your parents about this. If they willingly say go to Harvard or Stanford, then take them up on the offer. Parents are willing to sacrifice for their kids, it’s what we do!!! If your parents are concened about the cost, or suggest that you consider the other options – you have great choices with Berkeley or UCLA.</p>
<p>EDIT – I was typing my answer, and your response popped up after I posted. From what you described, I’d probably go to Berkeley. UCLA is not a bad choice either. Don’t worry about Big Classes – even Harvard and Stanford have introductory courses, and once the class size gets above 50, it really doesn’t matter whether it’s 100 or 500 (or more).</p>
<p>Did you apply for FA at Harvard and Stanford and they did not give you anything? Or you did not apply because you knew your family would not qualify?</p>
<p>All three of the above have large lectures with faculty and smaller discussions and labs with TAs. (Harvard’s class schedule details are behind a student login wall.)</p>
<p>Thanks so much for the websites, ucbalumnus! Coolweather, I applied and was not given any FA, and I’m in the process of appealing (fingers crossed!)</p>
<p>I’d be fine with my child taking out Federal student loans to afford an Ivy or Stanford over a school like UCB, if that’s what he wanted. I’d also support him as much as I could without taking on additional debt.</p>
<p>But to me having my child graduate with minimal debt is a high priority. I wouldn’t want him taking out additional loans beyond the Staffords, especially when your instate option is that good.</p>
<p>Update: I’ve talked to my parents and as it looks I’d have to make up a baseline $10,000/yr in scholarships or student debt. Although I have a pretty good resume, I’ve applied to ~30 scholarships so far and have only received 2 nonrenewables, which makes me hesitant to count on scholarships. </p>
<p>The main difference here is that at UCB, I’d be free to study abroad & have more money for social events, while at the privates I’d be penny pinching. My parents have also offered to help me pay for grad school, which is probably in my future, if I go to UCB.</p>
<p>Do you mean to say that your parents can pay the full price at Berkeley or UCLA, but you would have to cover $10,000 per year in loans, work, or frugalization at Stanford and Harvard?</p>
<p>What does this mean?
Do you mean your parents will pay $10K/year and you have to make up the balance (nearly $50K for H/S) in “self help”? If so, case closed. Unless a big renewable scholarship comes in, you cannot afford Harvard or Stanford. Even Berkeley or UCLA would be a stretch.</p>
<p>I agree. Quite honestly, even if money weren’t a factor, we’d choose less expensive over more expensive with your choices. (Not necessarily the case with other choices - you just have good choices.)</p>
<p>There’s no advantage to your top choices for what you want and certainly not a big dollar value difference. Save the money for grad school or to start life. It’s your grad school that makes the difference.</p>
<p>Google that study mentioned on the first page.</p>