<p>So I've received a very fair FA package from Duke-- no hidden surprises, loans/w-s/summer contributions given just like FA said they would. I would graduate with approximately 16k worth of debt (4k/yr).</p>
<p>My parents are pushing me to go to Duke, and I won't lie, I've fallen in love with the atmosphere and Duke's campus. However, I've receied a substantially better offer from WashU that would allow me to graduate debt free and where my parents would pay less out of pocket a year. I'm not as excited about the major I would be pursuing there, however.</p>
<p>My parents have also offered to pay off my student loans for me (they will be supportive of whatever decision I make, and get annoyed anytime I mention the financial aspects of my school choice), and part of me wants to just be selfish and go to Duke. But is the debt worth it?</p>
<p>16k isn’t too bad, it’s certainly debt, but if you think about it a summer job could net you a few thousand every year and your junior year internship could pay about that. It depends on your family’s finances and how much you like each school though. If you like Duke much better than WashU, and you wouldn’t mind the debt, go for it.</p>
<p>My daughter is also \weighing Duke and Wust but in our case the Wust price tag for 4 years is $160k and Duke about $140k .There are many places she could go close to absolutely free but we feel this may be worth it. What you describe sounds like a fantastic deal all the way around either way to me. We are just middle/slightly upper middle income family.</p>
<p>That’s the problem-- I like both schools equally, though if we weren’t oing to compare the money, I’d go with Duke in a heartbeat. However, my intended major is public policy/policy studies, and my current summer job is actually an unpaid internship teaching. I can cover the summer student contribution this year with earnings from research, but I’m worried that the fact that a summer contribution exists will hinder my opportunities to intern in the public/non-profit sector.</p>
<p>And no, I’m not denying that these schools are giving me a fantastic opportunity with the aid packages I’ve been offered-- I realize I’m extremely lucky in that regard.</p>
<p>$16K debt for 4 years at Duke? If I’m reading this correct that’s a no brainer. A Duke education for the price of a Chevy Aveo is an easy yes. If we are talking strictly monetary I’d say go.</p>
<p>purpleacorn: With all respect and sincere congratulations on your acceptance, I believe you’d be crazy not to go to Duke if your four-year debt approximated only $16K. I’m a Duke alumnus, former Alumni Board and Executive Committee member, and member of the Annual Fund Executive Committee; I have 20+ years of experience monitoring Duke management and finances (I mention this not to brag, but to document my relevant credentials).</p>
<p>What most students, parents and even some administrative leaders on campus do not realize is that full tuition and fees fail to cover the fully amortized costs of both undergraduate and postgraduate education by $25,000+ per year. Those additional financial resources come from all sorts of donations (Annual Fund, endowments, and so forth).</p>
<p>Therefore, with all this said and to be quite concise, even if one were to pay all costs – receiving no financial assistance whatsoever – he would receive a de facto scholarship of $100+K during his four undergraduate years.</p>
<p>Obviously, the education – in the most comprehensive sense – provided by Duke and its enduring value are both outstanding. To summarize, to receive ALL that Duke offers (throughout a lifetime) for only a $16K outlay is one of the world’s best deals.</p>
<p>Hahahahahahaha… what I would give to be in your situation… Right now, I’m looking at a price tag of 240k… And here I thought that Duke, with its multi-billion dollar endowment, would not be joining in the screwing of the middle class… So much for my dream school…</p>
<p>I find that pretty hard to believe, though I understand your frustration. Duke’s FA package was completely fair. They are upfront as to how they determine ‘need,’ and their need calculation is pretty spot-on (at least, with no significant assets) with what the government determined to be our EFC that my parents are expected to pay.</p>
<p>My family is lower-middle class, but more mid-middle class because we live in a relatively low COL area, and we have lived below our means for many years. We don’t eat out. We don’t go on vacations, we bought our last car three years ago when we traded in the car that was as old as I was. Both of my parents work full-time, and have not managed to save much for college. However, we have zero debt and have paid off our mortgage. </p>
<p>Yes, I am extraordinarily blessed to have parents that support me. But with all respect, I really hope Duke’s endowment goes to help me and my parents.</p>