Is Davidson Worth the Debt? (vs UNC)

College Search & Selection
1

<p>I was just accepted off the waitlist at Davidson, and only have until 5:00 tomorrow to make a decision. Davidson was one of my top choices when I applied and I REALLY want to attend. Unfortunately, money makes the choice much more dificult than I had hoped.</p>

<p>The question is: is Davidson worth 60-70k in debt, compared to graduating from UNC-Chapel Hill with no debt at all?</p>

<p>I don't really have plans for graduate school, definitely not medicine, and hope to get a relatively high-paying job out of college. I am leaning towards becoming an Econ major and pursuing consulting, however that will probably change. As I said before, I feel I am a much better fit for Davidson, but I'm not sure if Davidson is truly worth that much more than UNC.</p>

2

<p>No liberal arts colleges are never worth it. UNC is a better school anyway, especially if you want a job and not grad school.</p>

3

<p>Is it YOUR debt? (and not your parents?) If so, go to <a href=“http://www.finaird.org%5B/url%5D”>www.finaird.org</a> and find the loan calculator - Plug in the amount to be borrowed, interest rates of 8.2%-11%, 1% origination fee, and see what your next 10 years after graduation will look like.</p>

<p>Then you can make an informed judgment.</p>

4

<p>If you go to a liberal arts college you probably need to go to grad school to pay off that much debt. Unless you despise UNC I would go there.</p>

<p>Ampere you are very wrong. Liberal arts colleges are worth it, it just depends on what you plan on doing.</p>

5

<p>I would pick UNC. It has better name recognition, academics of comparable, if not better, quality, and I’m sure you’ll be able to fit in somewhere (it’s big enough to find people you like).</p>

6

<p>I would pick UNC even if Davidson was the same cost. </p>

<p>That said, even if it is your parent’s money, you could use that money (if they are willing) for potentially expensive grad school debt rather than throw it away now.</p>

7

<p>If Davidson was your first choice, I’m assuming that you prefer LAC-style education to university-style education. Therefore the edge on educational quality goes to Davidson; you learn best when you’re happiest. However, Davidson is NOT worth 60-70k of debt when your alternative is such a powerhouse public flagship.</p>

8

<p>I would pick UNC, Davidson is an excellent school but hey so is UNC. If you were comparing Davidson and UNC-Greensboro, I’d definitely say Davidson but this is UNC-Chapel Hill, one of the top colleges in the country.</p>

9

<p>I would pick Davidson b/c I believe LACs provide a better unergraduate education model.</p>

<p>But, only you know where you think you’d be happiest. Set yourself up for success.</p>

10

<p>I would go to UNC even if Davidson offered the same package.</p>

11

<p>I second vociferous. I’d pick UNC (Chapel Hill) over Davidson any day even if the financials are the same.</p>

12

<p>In NC Davidson is regarded as a SUPERIOR school to UNC. Whether its worth the debt for you is another question. Did you call Davidson and ask for money? They have a policy of NO STUDENT LOANS, I thought and giving grants where needed. </p>

<p>Tell them you will come if they can help you with money.</p>

<p>I vote for Davidson.</p>

13

<p>For 20k, I’d pick UNC over even Amherst or Williams.</p>

14

<p>Davidson is a top 10 LAC. UNC is a top 5 public university. Academically, they are completely different, but roughly equal. If cost were roughly the same, I would recommend fit. Some people prefer the LAC environment whereas others prefer the larger research university setting. But cost is not the same and graduating with $60k-$70k debt is just way too much. I would even recommend UNC over Harvard for such a disparity.</p>

15

<p>To everyone: Thanks for all of the advice! After considering all of the replies and talking with my parents and current students at both schools, I have decided to attend UNC unless Davidson can present a package about 15k less a year (haha…not very optimistic). </p>

<p>Thanks to everyone who replied!</p>

16

<p>Just to clear up some confusion…Davidson is loan-free and doesn’t require debt. Are those loans Davidson gave you or just ones you’d need to take out to meet the EFC?</p>

<p>That said, UNC is a great choice. Congrats! :)</p>

17

<p>^Unfortunately our EFC is way above what we can afford to pay out of pocket, as my parents were unfortunate to have their income peak in 2008. So we have no savings, and would have to take out loans for anything more than 20ishk a year. Thus, our EFC is about 17k more than what my family can afford to pay, and 22k more than UNC’s cost. So we’d have to take out a bunch of loans to meet the EFC.</p>

<p>And, thanks!</p>

18

<p>Congrats on your choice!</p>

19

<p>Yeah, you made a great choice. Davidson is a great school, and probably the only LAC I’d be comfortable at, but it still doesnt compare to UNC even if cost is equal.</p>

20

<p>This is an interesting thread…especially as a future student at Davidson. I was in this same position a few weeks ago with two comparable financial aid packages and I chose Davidson. I chose solely on fit. I realized they are both excellent places to get an education and what I would do after would be contingent on what I do and the resources I use at Davidson. However, I would have to agree that 70k in debt is an enormous amount. I was looking at around 20k for Davidson and about 18k for Chapel Hill. I guess beauty is in the eye of the beholder, right? I just hope Davidson gets the respect it deserves, especially in North Carolina. I tell people I’m going to Davidson and they say “uhh…I’m sure its a good school because you are going there.” But other than that they have no idea where it is, and its a little scary.</p>

<p>I also posted a thread on the Davidson Forum asking how much debt Davidson was worth and I was told 40k.</p>