Is $7,000 too Much?

Paying for College
1

<p>Hi, and thank you for viewing my post. I was recently accepted into the Boston University High School Honors program, and was wondering whether $7000 total is too much to attend. I know that people can't predict my current financial situation, but I was wondering if I could get a general consensus.</p>

<p>It is a 6 week term during which you take two courses, and acquire 8 college credits from Boston University. It is a somewhat selective program, the application process was rigorous, and I am thankful to have been accepted. </p>

<p>They have offered me no financial aid however, because they said my parents' income was too high. My parents combined income is about $90,000 a year total. </p>

<p>The breakdown of the finances is like this:
**
Course 1: 4 Credits - $2180
Course 2: 4 Credits - $2180
Program Fee: $450
Room and Board: $2,026
**</p>

<p>I did the math, and 8 credits for $4,360 would be like attending a school that costs $26,000 per year including room and board. (assuming there are 120 credits in a BA degree)</p>

<p>My parents cannot afford to pay the price at one time, so I would most likely have to take out a loan. Is it really worth it? I mean you do earn credits from a respectable school, and it makes you more competitive in the college admission process, but I just don't know.</p>

<p>I haven't made a definite choice yet, but I guess what I'm looking for is a little reassurance that I am doing the right thing by attending? Am I? I really don't know...I'm too young to understand debt right now haha. My parents said if I want to go, we will make it happen, but I want to know if it is it worth it. </p>

<p>Any help is greatly appreciated
Thank you</p>

2

<p>Absolutely not worth it. Why would you do this? this wouldn’t make much difference come college app time. If you’re family isn’t floating in money where 7K is a drop in the bucket I’d skip it and save the 7K for college tuition when you finally go full time. Go find a summer job instead.</p>

<p>If they don’t have 7K in the bank to cover this now, I think you’ll be in trouble come college time since with 90K income financial aid will be iffy. Spend the summer studying this site and figure out a plan of action as to where you can apply and get merit money.</p>

3

<p>I would not pay it. If your parents can afford it without it causing financial stress, that’s one thing, but I think you would do better finding a job like FooMonChew suggests.</p>

4

<p>And another point, how do you know it’s selective? these types of programs are really ways for the school to make extra money over the summer when dorms are empty. There’s no reason for BU to limit enrollment much.</p>

5

<p>A point of emphasis. I’m serious about spending the summer on this site. I did it last summer researching options for my S. For best shot at merit aid you need to get most apps in by 12/1. There will be many essays involved and you should plan on 10 to 14 or so schools in which to apply. Merit aid is highly competitive and getting more so each passing year. So a lot of research is going to be needed to figure out which schools to apply to. Gotta cast a wide net and hope at least one big merit offer comes your way. </p>

<p>Once schools starts back up in the fall you’ll be hard pressed for time to do this research. So do it this summer (I assume you’re a junior).</p>

6

<p>Any program that is essentially “pay to play” is not looked on as an extraordinary asset in the admissions process. Yes, adcoms will see the experience- but it would be far better to win at something, mentor local kids, take a higher level math-sci (or language) class at comm college, have a job related to your major- or any job where you are expected to perform in a responsible manner. As noted, these programs are generally not highly competitive. And, you have no idea if those credits would truly transfer to another college program. Plus, if your parents can’t afford 7k, you are in for a mighty finaid challenge during your college years. Why take loans or spend your few resources now? Best to spend the time with what I noted and, as Foo noted, getting in the best shape (stats, essays, picking colleges and visiting some, etc) for the actual app process. Good Luck.</p>

7

<p>I highly doubt that this program is selective. These schools offer these programs as money makers and will often take anyone who will write the check.</p>

<p>This reminds me of a program that Sewanee offers in the summer…costs several thousand. When they weren’t getting enough students, they raised the price by $1500 and then offered $1500 “scholarships” so that people would think that their child was being “honored” and that their child was special. Only those who knew the price from the previous years caught on to the game.</p>

8

<p>It’s like the kids who believe they were truly “nominated” to some of the other programs, like NSLC, based on their special attributes. Caveat Emptor.</p>

9

<p>Thank you for the input, I do realize that it will be burden when the debt inevitably carries over into my college years. This is why I was deeply considering it. </p>

<p>A point I would like to add, however, is that it is a somewhat selective process. I called BU and obtained the stats for the summer 2010 session before I applied. They had a little over 300 applicants, 140 of which were offered admission, and around 70 attended. Accepted applicants had an average 3.7 and 1300 CR+M. They required pretty much everything a college application did…transcript, SATs, essay, 2 recs, next year’s schedule, etc. </p>

<p>The HSHP is done in conjunction with the research internship program, which had over 300 applicants, with 40 applicants admitted. The RIP is actually really cool they send qualifying projects to Intel and Siemens, and have had a few winners in the past.
[High</a> School Honors Program | Boston University Summer Term](<a href=“http://www.bu.edu/summer/courses/high-school/]High”>2023 Summer Courses | Boston University Summer Term)</p>

<p>I am aware of the bogus student conference retreats, and various sketchy summer programs, but this is a little different. </p>

<p>When it comes down to it…are 8 credits from Boston University with housing (and organized “fun”) worth $7000??</p>

10

<p>Only if that 7k is pocket change for your parents.</p>

<p>Look around for some other opportunities that won’t cost that much. Happykid had summer internships for two years that didn’t pay anything, but her only cost was busfare there and back every day.</p>

<p>Do your parents know yet how much they can afford to pay for college, and do they have an estimate of your EFC? It would probably make a lot more sense to save that 7k for college.</p>

11

<p>How much would 8 credits at your local state school cost you? No $7K. How much do your parents pay for your sleep away summer camps? I guess if that is about what they pay and they want to continue this experience for you, it’s fine. But if your family is not ready to pay for 4 years of college at close to $60K a year and you have such schools on your list, then maybe you and they had better start saving for this. </p>

<p>Look around this forum and you’ll see many posts from kids and parents upset that they cannot afford college and the aid and merit is not cutting it. How many of them have kids with college savings? That has been a striking absence, in my opinion. You kids should be working and saving to pay for a share of these costs. </p>

<p>Again, this is a family decision. If your family has the money to send you to college and want to send you away to college camp and can afford it, have fun and go. But this is not a good investment towards your college.</p>

12

<p>The truth is that you can’t afford it. It’s bad enough to take loans for college-- but for optional summer programs? No way! </p>

<p>Take the courses at your community college or local 4 year college and ask your parents to foot the bill for that. You have no way of knowing whether the credits from BU will transfer so why not take them from your community college instead? The selectivity isn’t going to impress anyone. </p>

<p>Oh, and you could still have time to get a job. cptofthehouse is right: you will need it for college.</p>

13

<p>Yes, the financial aspect is rather off putting. I think I will end up attending the Rutgers Scholars program which is essentially the same thing except much cheaper for in-state students. It’s also more financially feasible, seeing as how I can juggle a job by staying in Jersey and most likely pay off the $2,000 RSP costs by the end of summer. </p>

<p>A summer in Boston would have been nice, but maybe I can just go for a visit haha</p>

14

<p>IMO, not for a family that would have to take loans or struggle to pay the fees. You have so many other ways to get adcoms’ attention. If you had been offered substantial financial aid, it would be a different sort of decision. This is a steep price for an uncertain value. As noted, the credits may not transfer- many schools only take outside credits for classes that mirror what they offer.</p>

<p>I understand the “research internship” seems attractive- but adcoms try to interpret what you merited as a bright, somewhat accomplished individual versus what is offered to a bunch of kids paying the fees. BU states all the students do a poster of their results- this is different than independently working (interning) alongside a prof whose own work benefits from your involvement (even if you are just cleaning test tubes or running stats.) </p>

<p>It is impressive when a kid takes comm coll classes as a show of his motivation. Sometimes, it’s to tackle higher level classes the hs does not offer. Or, it can be because there is a scheduling issue- (eg, if taking a higher level sci class conflicts with the opp to take a 4th year of language, kids might take the lang class at cc.) These are examples of the applicant’s motivation and drive- far more affordable- and impressive.</p>

15

<p>Definitely too much for a 6-week program. There are other, better things you could be doing over the summer – including educational programs that cost a lot less, and many things you could do without cost. I think if you spent 6 weeks volunteering with a charitable organization in your community (no cost) it would be more likely to impress college ad com down the line. Even better, get a paying job.</p>