Is Villanova University worth it?

Parents Forum
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<p>Since the older brother is at Drexel and Villanova is a CSS Profile school, will there be any financial aid given from Villanova during the years the brother is at Drexel? I’m not familiar with VU’s aid.</p>

<p>To Sax: Thank you for your kind and welcoming words. I’m impressed by how kind and genuinely caring the CC community is to each other and to the new persons seeking advice. You are all so completely wonderful to share your experiences and expertise so that many can navigate this college journey. I have learned so much and appreciate you all! </p>

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<p>In a similar question: Would Drexel offer the brother additional Financial Aid since the parents are also paying tuition at another school for the daughter?</p>

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<p>You almost made me spit out my coffee! I actually had to think for a minute about what the mascot even is at my son’s college.</p>

<p>I think Joblue’s post is spot-on. There are SO many families in this situation. They can’t say no to the kid’s “dream” and adopt it as their own. Some dear friends of mine are in this exact situation with their son, who is at a hugely expensive college in NYC. They have made enormous sacrifices to make it possible for him to attend, and he is miserable. He has been trying to transfer out essentially since he got there. Even HE doesn’t think it is worth what they are paying for it, and wishes he had taken one of the many merit offers he received from “lesser” schools (or attended our state flagship).</p>

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<p>Busyperson…those are great questions. I assumed that the daughter was admitted EA and that the financial aid package ( which generally is generated by fafsa and css) was complete. In addition the dad had called the school and asked about other monies and was told no. </p>

<p>I think the biggest bang for this students buck and the least intrusive to her " full college experience" iis to take 1 additional class each semester if she can handle the load. No need for community college. No need for summer classes and no need to pay for those. That saves $28000 tax free monies by finishing one semester early. Questionable ability to do this if she is an education major. I would ask the department. </p>

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<p>Thanks, Sax!</p>

<p>I’m not sure I’ve got this correct, but I think Villanova’s CSS Profile and FAFSA deadlines were the same for EA and regular decision. If so, the CSS Profile may have just gone in Feb. 7th. I’m not sure though.</p>

<p><a href=“Dates and Deadlines | Villanova University”>http://www1.villanova.edu/villanova/enroll/finaid/calendar.html&lt;/a&gt;&lt;/p&gt;

<p>Does Villanova award its merit scholarships in the original acceptance letter or shortly thereafter? This link suggests Scholarships are awarded by April 1st for both EA and RD. Can the OP clarify dates with the FA office? </p>

<p><a href=“https://www1.villanova.edu/villanova/admission/calendar.html”>https://www1.villanova.edu/villanova/admission/calendar.html&lt;/a&gt;&lt;/p&gt;

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<p>I have no idea on Villanovas timeline for this stuff. Looks like you have done some looking:) I assume the OP would not have posted and taken us all (including his daughter) through this exercise without all the info being in…AAARRRGGHHHH!!!</p>

<p>At least I HOPE so…</p>

<p>One way to gather knowledge on CC is to go to the college page that you are interested in and look at last years activity.</p>

<p>Kids are now waiting to hear about the presidential scholarship. I assume the OP’s D did not apply.</p>

<p>heres this years main page
<a href=“Villanova University - College Confidential Forums”>http://talk.collegeconfidential.com/villanova-university/&lt;/a&gt;&lt;/p&gt;

<p>heres last years discussion page at the same time
<a href=“Villanova University - College Confidential Forums”>http://talk.collegeconfidential.com/villanova-university/p5/&lt;/a&gt;&lt;/p&gt;

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<p>That’s a good point about not getting too invested in the concepts of “perfect fit” and “dream school”. My son (old-timers might remember this) hated Penn so much his first year that he, literally, ran away from it in March of freshman year, along with one of Penn’s top athletic recruits… He was disappointed in so many things. He managed to regroup, change his course selection and is a happy graduate.</p>

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<p>IMHO, there is no one path to happiness and success. She may always wonder “what if” if she doesn’t go to VU and is unhappy in her life in the future. OTOH, she may well embrace her “second choice” never look back and end up having a wonderful life. She may also realize when she is 25 and can’t afford to move out of the house or a few year later wants to get married and buy a house but she can’t because she is still paying off VU, that it was not worth it. </p>

<p>Run the numbers on the loans and what the payback will be. Run the numbers on what her salary (either as a teacher or other starting salary) and see what percentage the loan payment will be. Add in how much a down payment will be on a modest home in your area and how long it will take to save for that with and without the loans. Have her think about whether she wants to take at least a few years off when she becomes a mom (if that is in her future). While she may end up with a very wealthy spouse and never have to worry about money in her life, she may not. </p>

<p>Ultimately, it is your family decision but do not be blinded by “perfect fit”. </p>

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<p>“I am becoming increasingly happy that I went to 2 institutions that did not refer to themselves by a mascot name…”</p>

<p>lol…I had to chuckle at that because even tho my kids went to a huge football school, no one refers to themselves by a mascot name. mascot: elephant …team name: crimson tide. Students don’t call themselves either one. So, no sayings like, “I’m a Boilermaker, or I’m a 'Nole, or I’m a Gator, or I’m a Trojan.”</p>

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<p>Considering my sons school has a wimpy little bee mascot, I imagine they’re not running around yelling bee power! woohooo lol</p>

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<p>OP, it’s a tough go, I know. For all those whose kids picked the big bucks school, got their 4.0+ averages there and landed 6 figure jobs a few years later, well and good. When things work out, it’s all good. But there are many, many kids out there who did the same danged thing, and are pushing age 30, not making a living wage. In such cases, that student loan payment is a true albatross around the neck (to use an English major’s reference) </p>

<p>In this case, the parents have means, so the family could work it out together. I’ve spoken often about a dear friend of mine who cosigned so much in student loans for her DD after running out of PLUS eligibility (late payments) and they are now owing more money than they can pay the interest on. Her talented daughter who was a great student, and who did take every opportunity at college and juiced the experience to most any parent’s joy, can’t find work that pays much. And my friend’s business and marriage went down the drain and she’s on the hook too, can’t get any loans, pass any credit checks. She just had a mini stroke, and stress is attributed. </p>

<p>For families that can ultimately figure it out, it’s one thing, but I see families for which this can be a life wrecker contemplating the same thing, considering it an “investment” rather than a gamble for their kids. And sometimes it is a worth while gamble. I was taken to task, rightfully, by a mom on this forum who did take this gamble, and it was worth it an was probably the easiest,quickest way to elevate her DD into a profession with jobs that pay well. But for an English degree or other general degree, not a program that has that pretty sure end result if one finishes it (which is also no guarantee–that’s how my friend got into her mess), if everything hinges on the possibility that the student is going to do well enough to pay onerous amounts for loans, I say, don’t do it, if you can’t afford it. I know some ivy league grads in non prof type majors that are not making rent. I don’t believe that a Villanova degree in the liberal arts over another schools’ is worth it in terms of terms of monetary return. </p>

<p>The former headmaster of our school has DD who took a generous award from Providence College over BC which saved her parents (and herself ) 6 figures, and she is doing just as well as a teacher as her friends who went to BC and went into the same fields. Not an iota of difference. But quality of life for everyone is that much better for a long time after those 4 years due to the fact that no loans are in the picture. </p>

<p>As for mascots, lots of cousins clucking around here if their mascot is to be their symbol, LOL (UDel) and my alma mater is not much better if that. I can just see people calling themselves Trojans or Rams. </p>

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<p>"In a similar question: Would Drexel offer the brother additional Financial Aid since the parents are also paying tuition at another school for the daughter?</p>

<p>Busyperson, doubt Drexel would give much in financial aid if need were in this picture, which I don’t think is. Drexel does not guarantee to meet need and their stats show that they do not do so most of the time. They do have nice merit packages, however. I know a number of kids who went there with some decent discounts on their top o’ the heap cost</p>

<p>In this case, my guess is that the OP does not qualify for financial aid, just as my family does not, but have not but the money aside, and would have to make some major life style changes, like sell the house, or break into retirement money, etc in order to make a $60K a year school work out. Or take out loans.</p>

<p>If the OP and DD decide to go the V and loan route, they should look at all of the optons available. The PLUS are up to about 7-8 %, which is no bargain–don’t know how the co signed loans work in terms of interest rate, and what your bank, credit union might offer in cosigned student loans. The advantage of the parent loans (PLUS) is that they are one parent only that has to sign, not both, and not the student and it’s on the credit history of the that parent only. There are flexible repayment terms, and if you die, or the student dies, loan is forgiven. With cosigned loans, both parent and child are shackled to the loan, shows up on both credit reports and whatever happens to one party, the other is still responsible. The terms are often not as flexible. But these days, if credit is good, the interest rates might be favorable.</p>

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<p>I had a chuckle with I read this. My future DIL graduated from Villanova and went on to med school. She is up to her ears with school loans. However she is marrying my son who graduated from college with no debt (we were full pay) and he just bought a 2BR apt in Manhattan on his own. So, while working as a doctor, she is able to repay her loans but she is lucky that she doesn’t have to save up for a down payment on a house.</p>

<p>Meanwhile her sister also graduated from Villanova and is now a medical resident (followed her sister’s path exactly) and her long time BF( also a Villanova grad) has big law school loans also. I don’t know how they will manage to save for a house if they get married. They will have to move far from Manhattan where he is working for a small law firm.</p>

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<p>OP, last fall, before your daughter applied to any colleges, did you tell her what you could afford to contribute, and make it clear to her that was the limit? Anything above that amount was on her own? That’s what we did with our sons, and we’ve stuck with it. Older son decided to go to the costlier private for the opportunity to be on an NCAA lacrosse team. He did get decent merit money there, a small athletic scholarship, and took out loans in his name to cover the rest, beyond our agreed contribution. He graduated in May, owes about $20K. He was a biz major and had a good job waiting upon graduation, though, so it’s doable and he feels it was worth it. </p>

<p>Younger son also chose a pricey private, but had serious merit money from the school, making it cost the same as our state flagship. He did not need any loans. He’s a sophomore now. However, the one school that rejected him was also by far the most expensive on his list. When he applied there, we were very clear, telling him if he got in, we could only afford X. Made absolutely certain Son knew the rest was on him. (Husband was secretly relieved when the rejection letter came from this crazy expensive school!)</p>

<p>If you were clear with your daughter last fall, and she still insists on VU, let her go. Just continue to be CLEAR with her that you will not contribute any more money than the sum you offered. Make her sign something saying that, and put it in your safe. You may need to pull it out and show her a few times over the next 20 years.</p>

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<p>It doesn’t matter how “clear” parents are if they go ahead and co-sign the student’s loans. Parents need to say “no” right now, not set their 18-year-old children up for hardship and failure in 5 years. It’s just an abrogation of responsibility to tell your kid, “I won’t take out the debt, but I’ll let you do it” if the amount exceeds the Stafford maximums. A signed statement in a safe will be cold comfort when your adult child is struggling because you let her make a terrible decision at 18. Parents bear moral responsibility if not financial in these cases.</p>

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<p>“A signed statement in a safe will be cold comfort when your adult child is struggling because you let her make a terrible decision at 18. Parents bear moral responsibility if not financial in these cases.”</p>

<p>^^^^ This!!</p>

<p>The parents should pay for all of the costs of V except for the amount of student loans. All of it. And if they say that they can’t afford it then they have their answer as to whether a much, much, much, much lower paid D will be able to afford it.</p>

<p>(I don’t get the pouty wife. Either she should insist on them paying or knock the pouting out.)</p>

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<p>If OP’s wife wants the daughter to go, it may be because she feels it’s affordable. It’s only affordable if the parents can pay without touching the 401k and without letting the daughter borrow more than the federal loans. </p>

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<p>^^
That could be. It could also be that the mom is one of those parents (like my MIL) who gives her kids whatever they want regardless of affordability because they “don’t want to ever see them unhappy.”</p>

<p>Either way, if V is the choice, the parents should pay. They’re the real adults. They understand the ramifications of cost better than a 17/18 year old. They should bear the burden and not stick it with a naive “stars in her eyes” kid. And if they can’t afford to pay for it, then neither can she.</p>

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<p>Here’s my thinking after rereading the OPs posts.</p>

<p>The mother has seen this before. </p>

<p>Dad starts out by saying we will only pay 100,000 toward any school. VU will cost $228000? You are responsible for the rest. </p>

<p>He states she has to live on campus. Has the big talk. Everyone is miserable.</p>

<p>By the last response he states he will have to finance $60,000 and she will have Staffords at 27,000. He will co sign for the 60,000 but, sure, he will help with the payments. </p>

<p>He states he can afford VU. He states he does not want his kids strapped by loans.</p>

<p>It’s a bit of a power play. </p>

<p>I think the mom has seen it before.</p>

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<p>I agree: if they all decide that it’s “worth it”, the adults should NOT saddle the daughter with more than the Federal Loans ($5,500 first year, $6,500 second year, $7,500 each of junior and senior year) - they should shoulder the cost because THEY understand what that means. Even mature, reasonable, frugal 18 year olds don’t and can’t. I just hope the parents won’t have to use their 401k. There’s never enough in there, even when you think there is. :s</p>