<p>I'm paying for my entire college. I want to go into business. I was accepted and want to go to Michigan (top 5 for business), which will cost me a little over 100k for four years. I am a NMSF and could go to Alabama (not so good for business) for free. I will only have earned around 33-34k when I go to college. So that's around 70k I don't have for college. I'm sure I'll make some money in college and through jobs/internships in summer, so maybe 50k in debt. If I went to Alabama, I'd be coming out with around 45k. But I also need to consider how much I will spend on things after college- getting a car, renting an apartment, buying furniture, insurance, etc. Obviously that's a lot of money. So, would it be smart or stupid to go to UM over UA? I know I will have a lot more debt, but UM is a much better school. I'd be able to get a better job and make more money if I went to UM. But is it worth a 100k differene?</p>
<p>Are Michigan and Alabama your only choices? Seems like there would be a middle road somewhere. Getting a general undergrad degree in business doesn’t guarantee you a good job anywhere, so you’re wise to be careful about debt. Would it make more sense to get your undergrad at an affordable school and get a grad degree from UofM?</p>
<p>Well…the biggest question is…where will the $100,000 difference come from? If you plan to take loans in that amount, your repayment for these loans will be over $1000 a month for at least 10 years. That is a LOT of money. If your family can help you with the costs and your loans are much less, that would be a different story.</p>
<p>There are a lot of schools BETWEEN a free ride at Alabama and the expensive OOS tuition cost at UMich. Have you considered some of the smaller schools with good business programs? As a NMSF, you might garner some merit aid from schools like Bentley (in Boston) or Bryant (in Rhode Island). Both are private schools with good business programs. The cost might not end up being free…but it could end up being less than the cost of OOS tuition full pay at UMich.</p>
<p>There are other good schools that might offer some merit aid as well: Ohio State, Indiana.</p>
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<p>Are you kidding? Where did you ever get the idea that Alabama doesn’t have a good business school. Alabama is known for its Culverhouse College of Commerce and Business. [The</a> Culverhouse College of Commerce and Business Administration](<a href=“http://www.cba.ua.edu/]The”>http://www.cba.ua.edu/) It has also gotten special mentions for its fabulous facilities.</p>
<p>Click on the above link and look around. :)</p>
<p>Have you looked at its fabulous business library? I’ll get the link for that, too.</p>
<p>Have you seen the school? It’s amazing. :)</p>
<p>Did someone give you bad info? Here’s some good info… :)</p>
<p>**BusinessWeek ranks Two University of Alabama Business School Programs in Top 15 Nationally</p>
<p>Culverhouse College of Commerce and Business Administration**</p>
<p>Two specialty programs offered by the Culverhouse College of Commerce and Business Administration are ranked in the top 15 nationally by BusinessWeek magazine.</p>
<p>The operations management program comes in at No. 12, followed by the corporate strategy program at No. 14.</p>
<p>The magazine ranked 96 universities in 11 undergraduate business specialties, and Alabama’s Culverhouse was in the top 50 in seven of the 11 areas.</p>
<p>“Rankings make for interesting discussions, particularly if they are based on input from students and corporate recruiters,” said J. Barry Mason, Dean of the Culverhouse College of Commerce. “We work hard to make sure our students are happy with the education they receive, that they are afforded ample opportunity post-graduation and that our curriculum meets the needs of the business community. And we have to keep in mind that these rankings of 96 business school programs are based on about 23,000 total students and 244 recruiters.”…</p>
<p>~snipped~</p>
<ul>
<li><p>Placed among the top 50 public universities in the nation, according to U.S. News and World Report’s annual rankings for 2009. </p></li>
<li><p>The M.B.A. Program is placed in the top 10 in three categories for the second straight year in the prestigious Princeton Review: ranked 5th for best professors, 4th for best campus facilities and 8th for best administered (2006 edition “Best 237 Business Schools”).</p></li>
<li><p>The undergraduate accounting program is placed 15th nationally in the “Public Accounting Report”
<a href=“http://worldranking.blogspot.com/200...s-ratings.html[/url]”>http://worldranking.blogspot.com/200...s-ratings.html</a></p></li>
</ul>
<p>There’s another ranking that puts UA’s MIS program in the top 5 in the nation. I’ll find that.</p>
<p>I don’t know if you’ve applied to Alabama yet, but if you haven’t, you need to apply by Dec 1 for scholarship consideration (you have to apply to the school and for scholarships by that date). Very easy app process. Alabama should - at a minimum - be a financial safety for you. :)</p>
<p>The academics are strong, the campus is gorgeous, the facilities are fabulous, the students are friendly…what more can I say??? </p>
<p>Your Bama NMF scholarship would give you a “super suite” like this one… private rooms in a 4 bedroom suite with a kitchenette, living room, and 2 bathrooms [Housing</a> & Residential Communities - The University of Alabama](<a href=“http://housing.ua.edu/ridgecrestsouth.cfm]Housing”>http://housing.ua.edu/ridgecrestsouth.cfm) Scroll down for all pics and layout :)</p>
<p>The University of Alabama website [The</a> University of Alabama](<a href=“Page Not Found | The University of Alabama”>http://www.ua.edu/)</p>
<p>Online Virtual Tour [Campus</a> Tour - The University of Alabama](<a href=“Page Not Found | The University of Alabama”>http://tour.ua.edu/)</p>
<p>Webpage with good academic links [Academics</a> - The University of Alabama](<a href=“Page Not Found | The University of Alabama”>Page Not Found | The University of Alabama)</p>
<p>Alabama also has 4 amazing honors programs within it’s Honors College. Two of the programs are super competitive and elite - average ACT 33.</p>
<p>Above I mentioned that I’d get the link to Alabama’s Angelo Bruno Business Library</p>
<p>Here it is … scroll down for interior pics and description.</p>
<p>[Angelo</a> Bruno Business Library and Bashinsky Computer Center - The University of Alabama](<a href=“Page Not Found | The University of Alabama”>Page Not Found | The University of Alabama)</p>
<p>Seriously, my head is still spinning from the OP thinking that Alabama didn’t have a good business school. LOL</p>
<p>The question is depend on what you want to do with business degree. </p>
<p>If you want to do investment banking, Ross is maybe way to go, even for $100,000.
The reason is that investment banking is exclusive club and they only recruit at certain schools. </p>
<p>If accounting is your choice, there is a lot of choices among lower ranking schools.</p>
<p>I did apply to Alabama and I am instate at Michigan. I want to go to one of the best schools in the country or go to one for free. I’m not really satisfied with going to a pretty good bschool at half price or less. If I did, I’d go to Michigan State, where I will get some money, and is ranked higher than Alabama. I guess I just assumed Alabama isn’t very good because they aren’t in the top 100 in business week’s rankings and I’ve never heard anything about it from CC’s business forum.</p>
<p>I don’t think anyone can say that Alabama’s bschool is anywhere near Michigan’s. But is UM’s bschool 100k better? I don’t know.</p>
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<p>**Yes, Alabama is in the top 100 in Business Week’s rankings. ** You must have just overlooked it. 
[Undergraduate</a> B-School Profiles](<a href=“Businessweek - Bloomberg”>Businessweek - Bloomberg)</p>
<p>Yes, UMich’s ranking is awesome at #5. But, is it $100k better, I doubt it. Would it be worth it to you to have $1200 a month student loan payment for 10 LONG years, I doubt it. Rankings don’t tell the whole story. </p>
<p>Can you visit Alabama? </p>
<p>**An out-of-state NMF student who goes to UA recently posted on CC that… “UA is recruiting for the best and brightest students nationwide. For many students, it is the money that first interests us in Alabama, we visit, and then we get hooked.” **</p>
<p>Agree with jim1980. You would definitely have much better job option coming from Ross unless you’re planning to live in the South.</p>
<p>What area of business are you considering? :)</p>
<p>That might make the decision (and BTW…you don’t have to decide now. )</p>
<p>Borrowing $100k will mean a monthly payment of about $1200 for 10 years. That’s like 3-4 extra car payments for 10 years (plus your own REAL car payment… LOL )</p>
<p>mom2collegekids,</p>
<p>The only person I know who got an MBA from Michigan could pay off those $100K in loans in a year. Yes, he’s in investment banking. He lives in NY and makes a ton of $. I don’t know much about business schools but I suspect the other posters know something we don’t.</p>
<p>^^^</p>
<p>an MBA is different. She’s talking about her BBA. She can always go to UMich for her MBA.</p>
<p>If she were to do both BBA and MBA at UMich, she’d be looking at probably $200k in loans. </p>
<p>And, no matter where you graduate from, most people cannot pay off a $100k loan within the first year they graduate…which is when loan payoff begins. That’s the point. I know Alabama grads who wrote $250k checks for their boxes at the stadium. But people usually can’t write those kinds of checks until a few years after graduating.</p>
<p>With a good BBA you don’t need an MBA for most jobs these days.</p>
<p>It’s true that if you’re headed to Wall Street or a few other places, the $1200 per month will seem like a bargain for the opportunity very quickly. </p>
<p>Keep in mind though, you need to be a top grad at Ross to land one of these jobs and also have the traits they look for on Wall Street. Yet you will have a shot which you really would not from Bama without amazing connections.</p>
<p>It’s worth the gamble to some.</p>
<p>If you plan to get an MBA, I would suggest the free ride - work your rear off to be at the top of your class at UA & get some internships while you are in school. You will be able to afford unpaid internships if necessary. Get to know your profs. Apply to the top MBA programs.</p>
<p>Or apply to schools in between UA & UM for your undergrad, where you might get merit money. </p>
<p>If you don’t think an MBA is in your future, it all depends on your tolerance for debt. I would counsel my own kids against that level of debt. In the end, though, only you can decide.</p>
<p>kelsmom describes the scenario at our house. We think D will have a free ride at a nice/decent in state university. It has EXCELLENT schools within it, but those schools are NOT where my D will be attending. So…we’re back and forth between free or near free…versus a $250,000 education (that we HOPE will be a lot less due to merit aid, but we aren’t holding our breath). I CAN pay that, if I HAVE to. But I don’t WANT to. Paying the bill (eventually) does NOT = actually being able to “afford” it. I’m thinking if I’m a $700,000 a year attorney, I could “afford” it. But today’s economy, and our own personal situation, is the deal breaker. If she wants any help with grad school…and THAT “name on your diploma” is more important than your undergrad…then she has no option but to take the free ride. </p>
<p>So I “get” OPs decisions. All or nothing (best of cheapest), I understand because that’s where we are. But, for OP to be doing the repaying, that’s just SO much debt for a young adult! It’s like you’ll have to start paying on a HOUSE, the day you graduate, but have no house, and no equity. If you consider your “earning power” to be equity, that’s one thing. But I just feel like NO school name on your diploma will guarantee a job…even less a great paying job…in this economy. We can’t fortell the future. The mini baby boom is ending. Maybe jobs will become more plentiful soon. But that could be 10 years down the road and that isn’t a help in this situation.</p>
<p>Whatever you decide, good luck. My personal opinion is get a cheaper eduction, really SHINE there and hope you can get some good scholarships/grants for your masters if you’re looking that route. My neice did that. Took a full ride locally, and, through her scholarly efforts in those 4 years (though she’d RATHER have been at the Ivy to which she was also accepted)…was able to then get a choice between a free ride for graduate school at that same state university, versus a partial scholly at Michigan, or full payment at an Ivy. BECAUSE she went free to undergrad, her parents were able to afford the full ride Ivy for Law School (different Ivy than accepted her for undergrad). </p>
<p>GOOD LUCK!</p>
<p>I agree with the 2 above posts.</p>
<p>UA has many students who were facing the same dilemma. One such student posted here on CC that when she called her “pricier” school and told them her situation, (I think it was UVa), she was told, “take the money at Alabama, we’ll see you in grad school.”) LOL</p>
<p>Besides, it’s too early for the OP to make her final decision. The OP needs to try to visit her schools and see where she thinks she’ll get the most personal attention. :)</p>
<p>OP…is there any way you can visit your schools? I’m guessing that you’ve visited UMich since it’s in your state. Is there any way you could visit Alabama? If money is an issue for a visit, I wonder if UA would compensate you for that. Let me find out. :)</p>
<p>BTW…if you do get a chance to visit, call the Business school and request an appt or personal tour. The regular campus tour doesn’t tour the business school.</p>
<p>Take the money.</p>
<p>It’s the better business decision.</p>
<p>Remember… you are the one who is going to determine your future, not the college.</p>
<p>And I will add, as a fellow Michigander, that UM is a great school … but contrary to what seems to be prevailing local wisdom … it is really not the “only” school! :)</p>