My son is is deciding between MIZZOU and IU. MIZZOU is in state. After parent contribution and scholarship, he will pay about $3000 a year. He loved IU and is a DA into Kelley and in the Honors College. After parent contribution and scholarship (Dean’s, hudson and Holland and Kelley Honors) he would be paying about $18,000.
Is Kelley worth the additional $15,000 per year?
Yes, if it’s affordable for your family.
Can your family easily afford the difference (no hardship, no loans)?
of course, it is worth it (considering that you can afford it)
The remaining difference for both schools would be loans. So Mizzou is $3,000 in loans and IU would be $18,000.
I will pay the Mizzou loan off when he graduates and I would pay the same $12,000 toward his IU loans. He’ll have the remainder.
if he is willing to take on the loans then go for it, otherwise Mizzou is a fine school
Kelley+Hutton+DA is worth a lot but the loans are a lot, too.
Can you cut into the amount by allowing him to work part time now and full time over the summer?
First, are we talking federal loans? 5.5k for freshman year? Then you’d co sign or take a parent loan for 12k?
A kid who can get DA Kelley and Hutton should have other choices than Mizzou (a fine, but not especially selective school with a so-so business school) or 18k in loans?
Is that per year or in total?
No…Kelley is good but Mizzou underrated.
For him to go to Kelley, it would leave him with $18,000 in loans per year. I would pay off at least $3,000 of that when he graduates (total of $12,000. I’m already paying $15,000 per year towards college, so I really can’t afford to do much more. So for all 4 years, the most he would have in loans is $60,000. Which is a lot.
The thing is, his freshman year may well be his most expensive. I understand Kelley/IU offer much in subsequent years.
I know it’s a high ranking school up against an ok school. Hard to put a dollar value on that.
Are those his only two choices?
Are you looking at direct costs or full cost of attendance (there are ways to reduce the cost of books and transportation).
Has he emailed Hutton and Kelley to see if there are major- or department -specific scholarships a freshman can apply for (although thst request is usually made as soon as the FA arrives and it may be too late) ?
If he got Hutton, I assume he’s in Honors at Mizzou too?
It kinda seems impossible that those would be his only two choices - an unaffordable, rigorous one and a so-so one (business at Mizzou may not be intellectually satisfying for a kid who has the chops to get into Hutton. Journalism would be an entirely different ballgame. I’m speaking about the experience, professional outcomes will be fine.)
$60k in loans is too much. If Mizzou is his only other option, he should go there.
I would not take out $60k in loans to attend Kelley over Mizzou.
Thank you for your input everyone! Kelley is so well known that is hard to pass that up for Mizzou’s not-so-well known program BUT you all are right. It isn’t worth $60,000.
I know my kiddo doesn’t only have these 2 options, but damn he’s tired of the whole application process. It has been quite literally one of the most draining and frustrating things I’ve endured and I’m an adult. We have college application fatigue in the worst way.
With that…Mizzou is where he will land. And it won’t be his last stop. There’s still grad school! That’s where I think he should be investing more in a top ranked program.
Thanks again everyone!
Did he get into the Honors college?
Vasey and or Heartland Scholars if he qualified, or Cornell or Walton Scholars?
Does he plan to double major within Trulaske or business+CAS?
In my opinion it’s not so much a matter of “well known” v. “not so well known” but in terms of intellectual growth. A kid who got DA Kelley+Hutton may not find it all that stimulating to be in “regular” Truslake. Kelley is too expensive but there may be a better “fit” for him elsewhere, among his already-received acceptances.
(Another downside is that he’s got direct admit at Kelley whereas at Mizzou all students are “pre-admits” and acceptance to any major is selective - meeting specific criteria- and competitive - among all students who meet the specific criteria. As a result no student is guaranteed his/her major. However it shouldn’t be a big deal since he’s presumably in their top percentile admits.)
I don’t understand what you’re referring to by “application fatigue” - do you mean he’s tired of thinking of his choices and will pick Mizzou because it’s there, or is tired of applying to various programs, or he doesn’t want to go to college…?
Even if he doesn’t want to think about it, perhaps you can check out whether he’s got another acceptance that’s direct admit+honors somewhere else, for instance.
If he goes for an MBA, his work experience will matter the most, although a very strong record of academic excellence +extracurricular involvement+leadership will be expected. Kelley v. Mizzou will not matter at that point. So he should do everything he can, right from the start, to build a good transcript and resume.
Note that some universities prefer a BA/BS (with strong quant skills, either as part of the major or as a minor) to a BBA for their MBA class. A Business degree with a CAS double major or minor would probably show enough versatility if he’s so enclined.
Also keep in mind that IU cost will increase by at least 2% each year (Mizzou will too), but the IU amount will increase more than the increase in the fed student loan (5.5, 6.5, 7.5, 7.5), so he’d be looking at a little more than $60K difference.
That might be worth it if the ROI works out. Figure out what 4 years at each will cost. Look at the business schools estimated salary and multiply by 5. Look at the difference to find the Return on Investment. If it’s close, then that gives you more info. Also look at Poets & Quants review and rankings for both.
Good luck!
Having the opportunity to attend a fine state flagship such as MIZZOU for $3,000/year is an excellent outcome. Congratulations to all!
Thank you all!
Well, it’s $3,000 a year for him after we (the parents) pay $15,000 year and after his scholarship. But in the end, I want to graduate with no debt because my own student debt simply to become a social worker haunted me for over 20 years. So, we will pay the $15,000 and at the end of his schooling, we will pay of the small student loans. It’ll give him a better start in life.