Right now, I’m torn between CMU and UIUC for computer engineering. CMU is much more prestigious and I would rather go there but it costs around $72,000 as compared to UIUC which costs around $50,000.
Even if i go to CMU, my parents won’t have to take out loans to fund my education, but it will take out a huge chunk of their savings and my parents are not really certain about that. Is a CMU education worth $22,000 more? My parents main criterion for a university is prestige and rankings, so how prestigious would you say Carnegie Mellon is? What are some other universities in the same tier?
Thank you 
InfiniteLibrary, In the case of a cost differential I’ve always been a proponent of going to the flagship State school over the prestigious private if two things are present: 1) the flagship is considered among the “top” State universities, and 2) the program to be pursued at the State flagship is excellent. UIUC seems to meet these two criteria. What makes this analysis a little tougher a couple of things. First your family would still be paying $50k / year at UIUC. Second, and this is opinion, I believe CMU is on the rise in your area of interest and I would be worried about UIUC programs and funding given the terrible financial situation in the State of Illinois. Given these two factors it is almost a wash to me but if I were the parent here I would go with CMU if I thought my student could really benefit and if I believed the student was really motivated to do well and to take advantage of the situation. The fact that you’ve been admitted to such a competitive program is prima facie evidence that you are indeed highly motivated. Bottom line for me: slight edge to CMU if you really like it.
Maybe you can offer to help your parents and get some skin in the game at the same time by helping to finance that difference, at least partially, through loans of $4-5 K / year (which is not unreasonable in this major) and also by contributing a significant portion of summer earnings. Also do everything you can to seek outside scholarships now and all the way through your 4 years.
Good luck to you.
@kaukauna I see! Thank you so much - that helps a lot. I will discuss more with my family about the factors you’ve mentioned- I hope I come to a decision by May 1.
I just replied on another CMU thread. http://talk.collegeconfidential.com/carnegie-mellon-university/1976811-carnegie-mellon-scs-is-it-worth-the-cost.html You can replace GA Tech with UIUC in my reply.
Unlike Wall Street, in the tech world, ranking and prestige matter very little.
^^^ I disagree with the above in that I’ve found my CMU degree very useful. Also interviewing on wall street with a CMU degree was quite nice – a number of vp’s/ctos are CMU Alumns. That said are you looking at grad school, just a job, …?
@jwombat Yep almost definitely looking at grad school.
I live in Illinois. My D is graduating CMU this May and has gotten a fantastic really high paying job, which I believe is due to her CMU degree. It blows my mind how much her degree from CMU is valued. Not that UIUC is not good, but our state has a terrible budget crisis. I’d run like the wind. Also CMU was very generous with scholarships for my D.
@TiggyB62 Thank you for helping me decide!
All the best for your D too