I got in but have a hard time choosing

College Search & Selection
21

@standupguy

So these are annual costs, correct?

Scranton-$20,000 total (with scholarships and $7,000 loan)
Michigan state- A total of 30,000 (no scholarship and $10,000 loan)
Bryant- A total of $28,000 a year (With scholarship and a $5,000 loan)
Seton hall-A total of $15,000 a year (with scholarship and the $9,000 loan)

So does this really mean total costs per year of:

Scranton-27K
Michigan state- 40K
Bryant- 33K
Seton hall- 24K

And 4 year costs (not taking inflation into account) of:

Scranton-108K
Michigan state- 160K
Bryant- 132K
Seton hall- 96K

Michigan State is the best quality school on your list. But if my calculations are correct and you are considering both cost and quality of education, I’d pick Scranton.

BTW, when a new poster trashes a school, take it with a grain of salt.

22

<<<<
My parents are willing to pay the whole net costs as long as I pay them back 50% in the future. That is the agreement we have reached. I just wanted some advice on if a little more money is worth a certain education.
<<<

That may sound like an “okay” deal if you weren’t ALREADY borrowing a good amount for these schools by yourself. And I’m surprised that your parents haven’t taken that into account.

<<<
Scranton-$20,000 total (with scholarships and $7,000 loan)
Michigan state- A total of 30,000 (no scholarship and $10,000 loan)
Bryant- A total of $28,000 a year (With scholarship and a $5,000 loan)
Seton hall-A total of $15,000 a year (with scholarship and the $9,000 loan)


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With your parents’ proposal, the annual debt amounts really are:

Scranton-$20,000 total (with scholarships and $7,000 loan)…17k per year loan (at least! Since costs rise)
Michigan state- A total of 30,000 (no scholarship and $10,000 loan)…25k per year loan
Bryant- A total of $28,000 a year (With scholarship and a $5,000 loan)…19k per year loan
Seton hall-A total of $15,000 a year (with scholarship and the $9,000 loan)…16.5k per year loan

All of these schools will cost you tooooo much in loans…

?? Have your parents done the math as to how much TOTAL debt you’d have upon graduation??? Do your parents know that your FA pkgs ALREADY have a lot of loans in them???

Scranton-$20,000 total (with scholarships and $7,000 loan)…68k in loans AT LEAST!!! Likely more!
Michigan state- A total of 30,000 (no scholarship and $10,000 loan)…100k in loans AT LEAST
Bryant- A total of $28,000 a year (With scholarship and a $5,000 loan)…76k in loans AT LEAST
Seton hall-A total of $15,000 a year (with scholarship and the $9,000 loan)…60k in loans AT LEAST

At this point, you don’t have ANY affordable schools when the choices require that you end up with THIS MUCH debt. I’m shocked that your parents are offering this “deal”…it’s not a deal…it’s a disaster.

Are you waiting on any acceptances to AFFORDABLE schools? What is your home state???

What are your stats?

What schools were your safeties (affordable and would get in)??

Seriously, if you truly are a finance major, then you’d realize that these are bad choices, money-wise.

23

U Scranton sounds like the best value. Would your parents be able to pay 20,000 out of pocket (from their income and savings)? Or are they planning on borrowing the money for you?

24

Wow. If you can attend Bryant for only $28K a year, then that is the way to go if you want to major in Finance. Bryant will work out perfect for you and will groom you for a job right out of school. Just check out the twitter feed from them and you will see the opportunities their grads have.

My son is considering that school also for Finance but it might be a financial stretch for us. If you have the cash, then it is a no brainier.

Good luck.

Btw. Were you awarded the top scholarship from Bryant? It sure sounds like it.

25

Without knowing your actual stats it’s difficult to offer advice. Bryant’s COA is ~$58k. They gave you a ~$30k/year grant? Is it merit aid or a need based grant? If you’re getting need based aid, your parents may not be in a position to pay (or borrow) the remaining ~$23k/year.

How much can your parents pay per year without borrowing? Use that as the starting point for your budget. You can take the federal student loan (~$5500/year) and can probably earn ~$3k/year if you work summers. That’s your budget. You’re a CT resident. CSCUs cost ~$23k/year if you dorm, ~$12k if you commute. Did you apply to any of them?