Hello! I was recently admitted to Lafayette (super stoked, it’s my top school). It’s basically everything I want in a school. However, it would cost me around $60,000 a year to go. I also got into a few other schools, but they’re all around the same price. Basically, I’m wondering if it is worth it to borrow all of that money to attend Lafayette, or if I should just go to University of Houston and try and transfer to a cheaper private school after my Freshman year? I feel like Lafayette could be a good investment, but with a $240,000 price tag, it’s honestly terrifying. My parents earn around $190,000 a year, but say they will probably not be able to help much as we are a big family. I am interested in majoring in Civil Engineering, so a few questions there: are there good internship opportunities for engineering undergrads? Does Lafayette have good connections? And is it worth it?
Absolutely not worth it. I get it - Lafayette is a beautiful school and does a great job of selling itself during visits - that is not a criticism. However, that amount of debt would be crippling. Honestly, you can’t even imagine.
No to Lafayette, but I didn’t understand the other option. So the other choice is U of Houston and then a transfer to another cheaper school? Is U of Houston also not affordable?
You can’t borrow that much. How much can your parents pay (without borrowing)?
@CheddarcheeseMN Sorry, I meant spending a year in UH (for around 20k) and then applying to private schools that were less expensive than Lafayette that were somewhat similar.
Why not attend Houston for all four years? I have heard of both Houston and Lafayette and while they are different types of colleges, I am not aware that Houston is inferior.
@austinmshauri I think they said they’re willing to cosign private loans. Private loans are definitely not ideal though. And not much; they’re currently paying off a house and don’t have all that much in savings. Maybe five thousand.
@CheddarcheeseMN I’m really not a fan of big schools! I would definitely consider it if I enjoyed it more than I thought, though.
What other acceptances do you have and what’s their net cost (after grants)?
@austinmshaur I got into Reed for 45k a year. I was interested in 3-2, but it’s not that great for my intended major. I got into Smith for around 50k a year. Also not ideal for my major. I have been accepted into Portland State University for 27k a year, which could be quite decent. I have been accepted to Santa Clara University for around 60k a year, which is honestly way too expensive, though I really like the school. I could attend University of Houston for around 20k a year. At this point it seems like a state school is a better idea. For the state schools, I’m in the honors programs.
If your parents can pay $5k and you take the ~$5500 federal student loan you’re halfway to the cost of Houston. If you work during the summer you should be able to raise a few thousand more. Is $5k your parents’ absolute max?
@austinmshauri I think they would consider helping more if the cost wasn’t astronomical. I have a job and have saved around five thousand, and will find a job if I move there for college. The more I write it out the more I realize that that might be my best choice.
I think I’d attend Houston and plan to stay there all 4 years. Is civil engineering an ABET accredited program? If it is and Houston is accredited, it should be just fine.
It sounds like Lafayette did not step up with any financial aid. Full price and lots of debt is not worth it.
@delphinamorphina Much depends on where you want to reside. Yes, Lafayette is a fantastic school with deep alumni support and networking, esp in the Northeast. You may want to ask Lafayette for more stats on placement and earnings of civil engineers, as well as others. The engineering program is not for the faint of heart. Very rigorous. If you plan to return to the South, you are probably best off with U Houston. Good luck with your decision.
My son was awarded plenty of financial aid at other comparable schools. Lafayette offered us zero dollars. It makes no sense at all. Don’t go in to crippling debt. I believe they lure students in with a misleading NPC calculator then make them fall in love with the school at full price. You are falling for it - don’t. There are plenty of other good schools out there. I will never forgive Lafayette for breaking my child’s heart.
@madaline2019 we had the same issue with the NPC for Lafayette. Not only that, but all of their printed propaganda materials are also very misleading about the prices by income. This was our son’s first pick, but as soon as he got the acceptance we knew there was trouble. We were friendly and polite when we met with FA officer during accepted student day - she was extremely abrupt and rude. For me, that was the end. We had met with other college FA and they were courteous.
Yes, our son was disappointed and was angry, but then he moved on because as cliche as it is to say “life isn’t fair”.
He is now excited about the college that did want him. I hope the same for your son. Good luck!
It is likely home equity that was significant in Lafayette’s financial aid calculation. This is a piece from 2012.
http://www.thecollegesolution.com/will-your-home-equity-hurt-financial-aid-chances-a-case-study/
They have a long history of not being as generous with aid as other like institutions. When I applied ages ago, I was eligible for a Pell grant (very low income) yet didn’t get enough to make it work. Thank God for Lehigh!
I want to add that there is a possibility that I made a mistake with the NPC (although the other schools were accurate) or Lafayette has a system I don’t understand etc. My main issue was with how we felt “confronted “ by FA. She was defensive before we said more than “hello”. It was just very off putting for us, especially because we had met FA folks at two other schools who were very pleasant. I don’t appreciate being made to feel so uncomfortable for asking a question . It just really put the school in a bad light for me. But as I said, we’ve happily moved on. She could have been having a bad day.