My son has been accepted into multiple universities. He is the first in our family to attend a 4 year institution. He has a full ride scholarship to one institution and a tuition reduction for the others. Even with the reduced tuition we would still need to cover quite a bit since he is OOS…I want him to get the best education possible so we are willing to sacrifice. However, I pose the following question…for his undergrad degree would it make more sense to take the Free Ride at a decent University or spend the out of pocket on a better school?
Well first and foremost congratulations on the acceptances! I would definitely do some research regarding the Return on Investment for each of the schools your son has been accepted to. Also, consider the environment your son would be happiest in–this has to amount to something as well.
You might find this link to be helpful: http://www.payscale.com/college-roi
Depends on what he plans to major in.
For instance, if it’s an ABET certified engineering program, then it’s the employer pool that matters more than the posher name school.
We need more info…
What is his major and career goal?
Which schools?
There are only a couple of career goals where the name of the college matters and those careers seem to involve Wall Street.
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He is looking to UCF, FSU, or UF. <<<
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What is the OOS school he’s considering?
Thank you all for the replies…He is Majoring in Computer Science and looking to combine with Bio…He looks to be excited about the prospect of going OOS. The most lucrative offer appears to be coming from UK…( potentially a great offer covering tuition/housing/meals ), followed by UofSouth Carolina ( Potential to get instate tuition and additional $ towards tuition. Nevertheless, still leaves us with about $16K in out of pocket ) and then we have have University of Central Florida ( IS ). My guess is UCF would be the solid option…BUT I don’t want to discourage him on his desire to go out of state. Between UK ( Min expense ) vs USouth Carolina ( moderate expense )…what would you think to be a more logical decision. Again, I can’t thank you enough for your guidance…
There is no real difference between UKentucky and USouthCarolina, especially if money is an issue. You’re talking about two big state flagships. They’re both going to be good. They’re both going to be fine.
He might also want to apply to MIss State. Also generous with merit.
There are no real differences among those schools. Choose the most affordable or the one that your S feels most comfortable which you can afford.
I’d go with UK - it’s a fine school and that’s a great offer.
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would it make more sense to take the Free Ride at a decent University or spend the out of pocket on a better school?
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There really isn’t a “better school” in this scenario so it would be a waste of your money to choose a more expensive school, particularly since it would be a financial hardship for you. SAVE your money for retirement, future emergencies, or whatever.