Hi, this is my first post on this site, so forgive me if this is the wrong place to ask.
I have recently been accepted to Baylor University. As the time to make a decision is nearing, I am a little worried about Baylor’s affordability. I have a 32 ACT, so I was offered $17,000 a year for four years, but the tuition is $38,000 this year, and will only rise. My family isn’t rich ($40,000 a year) and I am adopted (if that means anything). Is there any hope for Baylor? Right now, it’s down to the University of Iowa (my home state) and Baylor. Iowa has offered me a full-tuition scholarship. Any thoughts would be great!
Also, how difficult is it to get into Baylor’s Honors Program? I applied last week and am curious if it’s very hard. The BIC accepted me, but I’m not sure I want to do it. I have been accepted to Iowa’s Honors Program.
For whatever it’s worth, I am also a graduating junior.
If anyone had advice, etc., I would be very grateful!
Is the $17k/yr just merit? Have you received your financial aid package yet? I don’t see how a family with an income of $40k/yr could afford $38k. It sounds like you don’t have all your information yet.
^ This. Baylor’s COA is $57K (you need to look at More than the tuition). You have $40K left to pay on a $40K salary. Do the math. That is not affordable. Go to Iowa.
Your family’s income is $48,000 and Baylor would cost $38,000 PLUS room & board?
Your family can’t be expected to live on $2,000, and I doubt they’d be approved for such large loans.
I graduated from Baylor and then completed post-baccalaurete studies at a large state flagship (Mizzou). While I enjoyed my time at Baylor, the educational experience wasn’t that different between a larger private school and a state flagship. I would not recommend going into any debt if you have a full-tuition option at Iowa. Choose Iowa!
Baylor gives good merit aid, but they typically lag in financial aid (see collegedata.com). it won’t likely be affordable for you, but you never know. they may come through for you and meet your need, so wait to see the package before deciding.
Thank you everyone! I appreciate your responses. To answer some questions, yes, the $17,000 a year is merit. I have not heard back yet about need-based based aid. Based on the scholarship calculator, though, I should be getting $18,000 a year in aid on top of my $17,000 merit aid. Thank you for everyone’s responses.
Also, I have a question about Baylor’s Honors Program. How had is it to get in and what benefits does it have? If anyone has personal experience that would be great! Thanks.
Need aid will be most likely reduced by the amount of merit aid. It’s what private colleges do.
Wait til you get you final finaid letters from all your colleges and start making decisions then. Now it is too early.
At most colleges, yes. Since you received merit aid your Need has gone down by that amount. Some colleges will allow stacking. You need to call Baylor to find out.
@forgetmenot98, Don’t let your parents convince you to sign on for debt with them because their religious beliefs make them think you’re spiritually doomed if you attend a state school. You have a nearly full ride from Iowa, right? Ask your pastor or other religious leader to speak with your parents on your behalf. Borrowing $80k or more for undergrad because they think Baylor won’t have worldly influences is misguided.
Wait for the FA package. Sometimes they surprise you…in a good way OR in a bad way. In the meantime, set your sights and your heart on Iowa as your sure bet school. Also, start researching the spiritual opportunities (clubs, churches, etc) available at Iowa and show your parents that Iowa can offer a religious community to you, which I’m certain it can.
Here’s a couple that popped up on my first Google search:
So is it a full ride from Iowa or full-tuition only? Please don’t forget to look at total costs, not just tuition. Even if Baylor surprises with 35k, that still leaves a 22k gap.
And if they use loans in the aid package (a little fun with math that too many schools do,) add those back into your own expenses. Eg, if you do get 17k merit and 18k other, if that other includes the 5500 student loan, your real "aid’ is only 29.5k, making the gap 27k+ for the year.