Hi, so I got into the University of Miami Summer Scholars Program. I’m pretty excited about it, however I’m second guessing myself on whether or not I should go. The program costs a little bit over $7,000, and the first payment deadline is approaching. My parents have been very generous and offered to split the costs 50/50 between me and them, so it made affording this program much more feasible for me. In fact, I’ve earned enough money at my job to be able pay my share. So it seemed like I was all set to go to the program, but several days ago something came up with my dad’s job. I won’t go into too much detail, but basically he was moved to a different department within his company, received a deduction in his salary, and also had some benefits cut 
Fortunately my family is still okay with our finances, but we have to be a lot more conscientious of how we deal with our money. Despite this, I just don’t know if I feel okay spending all of my own money on this program as well as my parents’. The program seems great and all, but I can’t justify having them spend all this money just on me, and I don’t know if it’s a practical use of my own money. And the program isn’t necessarily a prestigious one like at the Ivys. So it doesn’t seems to make a huge impact on my college app. What are your thought? As much as I’d love to go, my gut says that my family’s money could be going to a better use.
Also, I talked to my parents about it, and my mom kind of agrees with what I’m thinking, but my dad still wants me to go.
I personally would probably never attend a summer program that cost $7,000 unless that’s play money to my parents or I got a scholarship to attend. Your family’s money could indeed go to better use, you could take a summer class, start up a small business, or buy a decent car with that type of money. Most if not all prestigious summer programs that Ivy’s look for are those that students go to for free, because if you go for free it’s considered an “honor” if your paying $7,000 to add something to your resume its pretty easy to see through that unless it going to significantly impact your life in some way…
NO. You would be better off working or taking a summer class at the CC for dual credit or doing volunteer work.
Those programs are for people with money to burn.
Thank you both! I’m probably not going to go. There are so many other, better ways to use this money.
I would concur. Take CC dual credit classes, study for the SAT/ACT , work or think of how to give something back to your school/community.