Hello, yesterday I was accepted into the D’amore-McKim school for accounting, after being deferred EA. I received a grant for 25k and direct subsidized and subsidized loans amounting to about 4k. Even with this and with Northeastern being one of my top two schools this year, I have trouble justifying the 45k per year cost of attendance left after the grant. I’m stuck between NU and UMD-College Park, where I was admitted to the Smith School of Business for accounting, but with only a direct unsub loan of 5k, no financial aid or merit awards. The UMD cost before the loan will be around 25k (I’m in state). Besides direct admit to the business schools, I’m not in any other special honors/scholars programs for either school. Is Northeastern and their co-op program worth paying 20k+ more than my state school? My mom had a pay cut of 15k recently and my dad regularly loses thousands in stock options (these aren’t reflected in CSS or FAFSA and I don’t know if it warrants a fin aid re-evaluation). Thanks in advance!
might warrant a fin aid evaluation but in my opinion no school is worth 200k debt once you graduate.
Losing money in the stock market will not likely get any additional financial aid. What did the Northeastern NPC show you would be paying?
It’s not worth the money unless your degree says M.D. next to it. That kind of debt can cripple you for years to come. UMD is actually a very good school with a very good accounting program, and if you can come out of there with minimal debt, you’re far better off.
NU is not worth that much extra money. Its business program is considered average at best and definitely not ranked as well as UMD. No sense in paying so much more money to attend a lesser ranked program.
Co-op is overrated, IMO. You can find a summer internship and a part-time job for the experience on your own. You graduate in 4 years and apply for an accounting job. Most people do it this way and they do just fine.
I am a CPA as is my S. I would choose UMD in a heartbeat. Keep in mind that: 1) To be a CPA you now.need 150 college credits (a typical bachelor’s degree is about 120 credits) so many go one for a one year Masters in Accounting. Some of the savings can go towards that. 2) You should have sufficient internship opportunities in the summer.