I'm in a weird position.

College Search & Selection
1

<p>I've applied to six schools, and I've been accepted at four of them. I got into my top choice, the University of Chicago. Now I have to see if the financial aid is going to work. The preliminary estimate from UChicago isn't looking good, so I have to have other options.</p>

<p>I received a full tuition scholarship from Ohio Wesleyan University. I also received a sizable scholarship from there when I was a freshman in high school, and I'm checking to see if I'll still be eligible to use it. If I can, it will be virtually free for me to go to OWU.</p>

<p>I'm eligible to compete for the Maximus scholar program at the Ohio State University. I know it's really competitive. If I don't get a full tuition scholarship, I do still have the $2,700, but I don't think need-based aid will cover the rest of my costs there. I don't believe there are many other large scholarships for which I'm eligible there.</p>

<p>I also got a half-tuition scholarship for Case Western Reserve University. I really don't know how their need-based aid is going to be, but it would hopefully at least cover the rest of tuition.</p>

<p>--</p>

<p>I don't know what to do. My top choice is UChicago, but it's looking like it will cost $20,000 per year for me to go there. While I like Ohio Wesleyan and the surrounding area, I feel I might be limiting myself if I choose a liberal arts college with only 1,850 students. I like the opportunities offered at a larger campus. Case is kind of in the middle. It's the only campus I've really visited, and I liked it, and there is plenty of opportunity there, but I don't know if I'll be able to afford it either.</p>

<p>--</p>

<p>I guess my question is this. Should I go ahead and compete for the Maximus scholarships at OSU? The reason for me to go there would be because of the name recognition and the opportunity offered at OSU. It's obviously not my first choice college, and I'd probably put OWU higher on my list. But it may be a better career move to attend OSU, since I'm going to major in Economics, and OSU has more name recognition.</p>

<p>I would greatly appreciates any thoughts on anything I've said. Thanks for reading.</p>

2

<p>I would apply for the scholarship to keep all your options open.</p>

3

<p>How do your parent's feel about paying the $20K for Chicago? Would this be all loans or can they manage some of this?</p>

4

<p>When you are in the hunt for financial aid, it is better to cast a big net. In other words, yes, you should apply for the scholarship.</p>

5

<p>Apply for scholarship, but I think UChi has more name recognition, even in Econ. Uchi is just a way better school then OSU. I got in to OSU and was differed then rejected to UChi. I would have picked UChi in a second over OSU, even paying 20k more. If you are smart enough to get in to UChi, you will probably be able to make up your student loans in a timely fashion after college.</p>

6

<p>Go to Chicago, even if it costs more.</p>

7

<p>If you win maximus then go to OSU. If not, then go to Chicago. $20K a year isn't horrible. Take community college classes over the summer to take a semester's worth of tuition off ($10K).</p>

<p>Depends if you're going to grad school or not. If you're going to grad school, the obviously it's not worth it to go to chicago.</p>

8

<p>Unless you get the Maximus, go to Chi.</p>

9

<p>


I agree with fireflyscout- get as many cards on the table as possible. </p>

<p>In the meantime, check up on that scholarship at Ohio Wesleyan. They may want to hear back by a certain deadline, so you may have to ask for an extension until you hear back from Ohio State.</p>

<p>

JB has excellent options, some of which are offering him $$. Turning down Chicago would not be a bad choice.</p>

10

<p>I called the finaid office at OWU today and left a message. They haven't gotten back to me yet.</p>

<p>I think my choice is kind of between OSU and OWU for safeties. There is still time to apply for the scholarship, so I'm okay so far. I just don't know which I'd rather attend. This really isn't something a visit will cure. Is it better to have the huge libraries and hundreds of student organizations, or the personal attention from professors? I can't decide.</p>

11

<p>Please be aware that need based will be eaten up by scholarship money. If you receive a half tuition scholarship, that money will be set against any need based aid you might be eligible for. If you are only eligible for 20k need, your scholarship, while a nice pat on the back, will be equal to nothing in terms of $.</p>

12

<p>Yes, I'm aware of that. The $20,000 figure for UChicago is what's left after the grant. The university put some loans on there to cover some of that cost, but I consider that money I'll have to pay.</p>

13

<p>On OSU vs. OWU, it depends on what you want and feel comfortable with. I think both are great schools and offer great educations (though very different). </p>

<p>That said, I'm a big fan of the LAC for undergrad education. IMHO, I think the small size, intimate connections with students and faculty, sense of community, exclusive focus on undergrads, and the access to resources (because of student/faculty ratio) at a top flight LAC (like OWU) offer an unsurpassable education. (See excerpt below for some benefits of a residential liberal arts college educ.) But, I understand why others would make a different choice. Ultimately, it should be about the right fit for each student. Try to visit both schools, do an overnight if you can and see what feels right.</p>

<hr>

<p>Here's a little excerpt about LACs from a website...
Though small in number when compared to America’s large public universities, liberal arts college graduates are represented disproportionately among leaders in the arts, education, science and medicine, public service and business. A 1998 study found that even though only 3 percent of American college graduates were educated at a residential liberal arts college, alumni of these colleges accounted for:</p>

<p>--8 percent of Forbes magazine’s listing of the nation’s wealthiest CEOs in 1998
--8 percent of former Peace Corps volunteers
--19 percent of U.S. presidents
--23 percent of Pulitzer Prize winners in drama, 19 percent of the winners in history, 18 percent in poetry, 8 percent in biography, and 6 percent in fiction from 1960 to 1998
--9 percent of all Fulbright scholarship recipients and 24 percent of all Mellon fellowships in the humanities
--20 percent of Phi Beta Kappa inductions made between 1995 and 1997 </p>

<p>On a per capita basis, liberal arts colleges produce nearly twice as many students who earn a Ph.D. in science as other institutions. Liberal arts graduates also are disproportionately represented in the leadership of the nation’s scientific community. In a recent two-year period, nearly 20 percent of the scientists elected to the prestigious National Academy of Sciences received their undergraduate education at a liberal arts college.</p>

<p>What accounts for the distinctive contributions of top liberal arts colleges? In the end, it comes down to a matter of style and scale. Intentionally small in size, a residential liberal arts college permits the active engagement of faculty in promoting the learning of every individual student. Embracing a distinctive style of undergraduate education, these colleges foster a broad based knowledge and understanding of the humanities, sciences, and the arts and the cultivation of critical thinking and examination, skills that lie at the heart of liberal learning. In doing so, the nation’s top liberal arts colleges uniquely prepare students for lives of service, achievement, leadership and personal fulfillment.</p>

<p>[BTW, I graduated from a LAC, have 2 Ivy grad degrees, and now I work at a major research univ. I only mention this to show that I have experience with and great respect for both types of schools.]</p>

14

<p>If you are doing econ and want to work in finance or an economic think tank there is no question that Chicago is LEAGUES ahead of the other options.</p>

15

<p>Well, of course there's no question. But I'm not being economically practical if I pay $100,000 more for my econ degree from Chicago.</p>

16

<p>go ahead and compete for Ohio State because with the economy not looking good, Ohio State may be a cheap option, plus it is probably better than Ohio Wesleyan</p>

17

<p>i would go to chicago. if you have self-control after graduation you will be able to pay the loans off. i happen to know a few people who went to Penn State over more prestigious schools for financial reasons, and they ALL feel like they shot themselves in the foot.</p>

18

<p>Don't go to Chicago if you're going to have to take the entire $20k/yr out in loans. That's $80k upon graduation! While that's a doable sum to pay back, you have options where you'll be able to pay little to nothing- take them. UChi is a great school, but you can do just as well at OSU or Ohion Wesleyan if you make an effort. Plus... UChi is where fun goes to die. Don't underestimate that.</p>

<p>Definitely apply for the scholarship so you can keep your options open... then see what happens. On whether you want a state school or a LAC... think of where you'd be happiest. What do you want in a school?</p>

19

<p>First of all, unless a miracle happens, for me Chicago would be out of the running. School is expensive and you have a lot of fantastic options that are willing to give you money, so I wouldn't even worry about it. A lot of people are saying you should go ahead and shell out the $20,000/year to go to Chicago, but let me tell you...it's totally different when you're on the other side and you have $80,000 in loans to repay and you haven't even started graduate school yet (should you plan to go), much less a house and a car note. You can be just as successful coming out of OSU or OWU as Chicago with $80,000 less debt -- $80,000 is a LOT of money!</p>

<p>I mean, if that's what you want to do, by all means do it and be happy. School is an investment in yourself and your future earning potential. But even if all of those were Stafford loans financed at 6.8% (which they won't be -- part of that will be at a higher rate) you'll have to pay over $900 a month for the ten years (a typical repayment period is 10 years) after you graduate in order to pay it off, and you'll pay over $30,000 in interest. Even if you get an incrementally larger salary for going to Chicago (of which there is no evidence, really) you'll make up for the amount in what you pay back in student loans.</p>

<p>Even if you get a 30 year extended repayment, you'll be paying around $520 every month and your interest will be nearly $30,000 MORE than the loan you took out in the first place. Remember, these prices are before you even factor in the rent, car note, monthly expenses, etc., of a 22-year-old adult. Or graduate school, if you choose to go.</p>

<p>Like I said, if that's really what you want to do...by all means, do it! School is an investment and cost shouldn't deter you. But you shouldn't take on the extra debt simply because Chicago is a bigger-name school; you should consider the pros and cons of going with the knowledge in mind that you're either going to be paying huge amounts every month (as much as my rent in Manhattan, btw) or you'll be paying still-big amounts for a large portion of your life.</p>

<p>That all said, why wouldn't you compete for the Maximus scholarship at OSU? You don't have to tell Ohio Wesleyan whether or not you're coming until April. You might as well compete for the scholarship and have the opportunity to compare full options in the spring.</p>

<p>Personally, I had the personal attention from professors during my undergrad and the huge libraries and resources for graduate school. My professors gave me the nurture and help that I needed to figure out what I wanted to do and helped me get into internships and graduate school. My school wasn't big name, but I was ambitious and talented and I had help, so I got into top graduate schools in my field. If you're ambitious and talented enough to get into Chicago, likely you're ambitious and talented enough to do well at OSU or OWU and get a good job.</p>

20

<p>The University of Chicago without any doubts is your best choice, especially if you plan to major in economics. $80,000 in loans for a degree from one of the very best schools in the nation is an absolute bargain. OWU =no. Ohio State University Honors College is much better than OWU, but not even in the same league as Chicago. Interest rates are very low & we may experience an inflationary cycle during the next decade, so those loans could be very easily paid back.</p>