I have received an offer from Boston Univerity and UTD in Business program as Mamgent information system, which school are better to choose for transfer, I have received 32k in BU with EFC 0 but it still has a large gap, I got 14K from UTD which will cover my full tuition, should I appeal for more grant?
If finances are a significant consideration, go to UTD.
your BU gap is about $30,000…and they aren’t going to increase your need based aid that much most likely…if you appeal. But you can ask.
I don’t believe BU meets full need for transfer students. Someone else can correct me if I’m wrong.
Run the numbers here: https://finaid.org/calculators/awardletteradvanced.phtml
The amount of aid you have been offered doesn’t matter. What matters is your cost after that aid.
This studen is a transfer student. The net price calculators are usually set up for incoming freshmen. BU meets full need (as they calculate it to be) for incoming freshmen. I’m not sure they do the same for transfer students. That needs to be checked.
Regardless…This student has a $0 EFC per FAFSA but we have no way to know what his Profile has on it. Are the parents divorced? Is there a non-custodial parent in the mix? Do they own a business? Do they own their home…and what’s the equity! That isn’t counted at all on the FAFSA.
It sounds like finances are a significant consideration.
Well, have you considered what the value of a BU v. UTD education is? Look at things like starting salary, the counseling office and internships. If you graduate with a slightly higher starting salary from one school or another, it will likely cancel out the debt you would have ( I’m assuming 60K debt).
It really depends on you and what you are comfortable with. Do you normally work Summers? Is that job available to you this year?
Given the crazy state of the economy take a breath and think about it. Debt is an albatross that has to be weighed against the value of a better degree. I’m assuming ( and I might be wrong) that the BU degree is going to open more doors for you.
Also, is one program more of a fit than the other? Why did you decide on these two schools? I’d look at the data and think about the best course based on long term as well as debt commitments.
This student got $32,000 in aid from BU. The cost of attendance approaches $70,000 a year.
He got full tuition from UTD, leaving only the rest of his expenses to cover. I can’t imagine that would be $35,000 or more a year.
@thumper1 - The link I posted is to the Finaid.org calculator that allows a student to compare up to three sets of costs and aid packages, so it would work for just about any student. Actually, there are two versions of the calculator, the simpler version doesn’t have the additional section for weather, college size, etc. I do agree that UTD is almost certainly going to be less costly for this student, but with a FAFSA EFC of $0 I wonder if the student will even be able to afford the costs there.
where does the OP go now and how much does that cost?