Is Amherst worth it; is it worth the 45,000 x 4?

Parents Forum
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<p>Hi,</p>

<p>I'm in a financial dilemma right now because of how Amherst is calculating my aid, through which I am getting zero money. </p>

<p>Now I am contemplating whether or not the paying 45,000 in full is worth it. I've been wanting to attend Amherst College since last year and I know how great of a school it is, the opportunities it offers, and its the educational experience, but with the aid I'm getting, I wonder if it's worth it...Is it worth this financial burden...Can I expect to be in financial debt for many years in the future, especially if I am looking to go to graduate school?</p>

<p>So naturally, I'm coming to the question of whether or not I should attend Amherst. At UC-Berkeley and UC-San Diego, I qualify for the Regents'/Chancellor's scholarships at both, plus my EFC is around 10k. At University of Southern California, I'm getting about 35k/year in aid. So the educational costs at these institutions will be much, much cheaper. But I dont think I want that large, research university undergraduate education and have a very impersonal undergraduate experience. But on the other hand, I feel that the 45,000 a year will make me feel sick and the financial burden on me in the future, especially after graduate school, will negate any benefit of graduating from an expensive private school.</p>

<p>I would appreciate any comments, feedback, anything. I understand that many of the readers here are experienced parents who have gone through this college business many times and, as there is no one I know who is really experienced with the college/graduate school process, I would immensely appreciate your help. </p>

<p>Many thanks,
Sony</p>

<p>PS. There is such a large discrepancy because of the extent to which Amherst accounts for noncustodial income. My father has repeatedly told me his contribution to my education will be nowhere near the 45,000/year price tag (He really wanted me to go to Cal States/ Community colleges for a long period of time because he doesn't really think having a huge college degree is necessary for success and life--both my parents immigrated and do not have college/high school degrees) and I'll be forced to take up tremendous loans if I want to go. I really don't know if I want to be such a large burden on my family.</p>

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<p>Congratulations on getting into such fine schools.</p>

<p>I can't comment on your particular case, but can say that I have two very bright nephews who both went to The College of New Jersey on a fullride, although they were accepted into smaller, more prestigious schools. One is still at TCNJ and enjoying it very much; the other graduated last year and is at Yale pursuing a PhD. The family is thrilled to have no debt. </p>

<p>Amherst is an amazing school, but I am not sure it is $140K better than UC-Berkeley.</p>

<p>Good luck with your decision.</p>

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<p>Sony,</p>

<p>I am no math whiz, but figure out how much per month you'd be paying after you graduate to repay that size loan. I think when you look at the number you will see Amherst in a different light. (I'm estimating that for 15 years, $140,000 will be $1100 PER MONTH at 5% interest. Perhaps others will have a better number.) </p>

<p>I'd say if you aren't going to get serious financial help from your parents you should probably be looking at other options...</p>

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<p>unless you parents sign for the loans which makes them parental responsibility, I do not believe that any lender would loan you that amount of money. With a Regents and Presidential offers you are blessed with wonderful in-state opportunities. The LAC is not worth it if you have to pay full freight. Don't forget, that while the UC dorms may increase, they won't increase half as much as the typical private school tuition. In four years (if not sooner), Amherst (and others) will easily surpass $50k for cost of attendance.</p>

<p>Visit Cal, San Diego and 'SC, and save the cash!</p>

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<p>I think I'd take a closer look at USC. It's a medium-sized private university, and it will provide a much more personal experience than the UCs. You'll alsohave an amazing network of USC alum if you stay in California. It may not be exactly what you were expecting, but when you consider the money, it sounds like the best deal to me.</p>

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<p>I agree with A . I'd be a Trojan. It ain't that big, and the $ are much better.</p>

<p>My kid is wrestling with the same kind of decision but if the number was $10K a year at SC and $45K at Amherst I don't think it would take us that long. ;)</p>

<p>And what's up with the different EFC's at USC and Amherst? Isn't USC a Profile school, too?</p>

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<p>go to USC!</p>

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<p>Did Amherst miscalculate your EFC? Let them know what's going on, this is the time to get them to reevaluate your finaid. If they don't give you what you need for you and your parents to be sane, the go to USC. Your will regret the debt and be unhappy for a very long time, not to mention limiting your options from housing to grad school with the weight to debt hanging around your neck.</p>

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<p>don't do it! don't do it! don't do it! You would be mortgaging your entire future for 4 short years of undergraduate education.</p>

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<p>If Berkeley and San Diego have come up with a $10,000 EFC, you should speak with the Financial Aid office at Amherst to make sure everything's straight there with your EFC calculation.</p>

<p>That said, USC is giving you an amazing deal and it is an excellent school. You are so fortunate not to be choosing between an oversized unknown state school and Amherst. What kind of aid is USC giving you. Is it all grants or some loans? </p>

<p>Berkeley is also a fantastic public institution, consistently #1 or #1.5 ;)in the U.S.</p>

<p>In any case you can only get a very minimal loan on your own cognizance. Parents or other adults are required to co-sign at the bank.</p>

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<p>The UCs (Berkeley, San Diego) use FAFSA only to determine EFC and I believe Amherst uses FAFSA and Profile. That is probably why the EFC at Amherst is so much higher.</p>

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<p>To avoid confusion about efc: </p>

<p>Regents scholarships at the UC's are merit-based, and they essentially cover tuition -- oops, sorry, educational fees (we don't have no stinkin' tuition in Calif), and sometimes provide a stipend. Thus, OP would have to pay room and board, or $10k per year. It appears that the OP also received a Presidential from 'SC -- again, merit-based. The Trojans just love high test scores. </p>

<p>btw: the absolute best deal for Regent's scholarships is provided by UCLA - they throw in a parking pass!</p>

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<p>Wow!! You guys from the wrong coast sure got it made!!</p>

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<p>got what made? </p>

<p>For an unhooked brwk, a Regents at Berkeley requires a ~4.3 + 1550 (note the 4.3 is a UC calc, where ~4.4 is the theoretical max). USC's free money is open to anyone -- they want more OOS kids to increase their diversity.</p>

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<p>Blue, is that what he was saying?


I'm pretty sure that what he said was I have a Regents AND my efc is @$10K. Two very different things. And he didn't say he was getting a $35K scholarship at USC, he said aid. Very confusing when we aren't all using the same terms to mean the same things. LOL.</p>

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<p>He might be getting a $ 35 K Trustee scholarship frpom USC, which is what my son got. It's a merit scholarship. We're in the same boat, as son was accepted at Dartmouth, Brown and U of C with no $$$ financial aid.</p>

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<p>Thanks so much for all of your comments. It seems the general consensus is to not go to Amherst, which I think I’ll regret for a very long while, but perhaps it is worth it.
I am going to talk to my dad to see the exact amount he will contribute, because, not to play any blame games, after all it is his income level that forced me into this situation.
I will definitely look into USC and the UCs—especially because of graduate school costs I will have to consider in the future, unless I try for massive scholarships, a method I tried this year, but have been pretty unsuccessful. </p>

<p>I’ve answered the general questions that have been raised up in order to clarify. </p>

<p>Mom55. Thanks for your congratulations. With your example of family members going to TCNJ, were you trying to say how successful they were in going to graduate school even from a public undergraduate? </p>

<p>ASAP. I am now seriously considering USC. It definitely does have its strong points and plus it’s nearby, so we’ll see.</p>

<p>Curmudgeon. Yeah, it does seem odd that there is such a large difference, which I believe is accounted to how much Amherst College considers noncustodial income (in other words, my divorced dad’s who isn’t planning to help out that much). USC does not consider it too much.</p>

<p>Mizo. I emailed Amherst about my situation and, hopefully, I will hear from them soon. </p>

<p>Chocoholic. Thanks, I am glad about that too; it’s just that I had my heart set on attending Amherst for a very long time. USC’s financial package is mostly grants/scholarship, but the package also a Stafford loan and work study. In terms of getting a loan (if I do take this option), my mom has said she would help, but she is not really in a position to help out greatly. </p>

<p>Thanks again so much for all your help! I appreciate it so much!
-Sony</p>

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<p>I'm hesitant about some of the advice before knowing what it is you want to study. What's your intended major?</p>

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<p>I'm not sure. Im thinking about law studies maybe in philosophy, but I'm definitely going to take science courses for possibly medical school</p>

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<p>Work hard and go to a good grad school. No one will give a rip where you were an undergrad.</p>