I have been admitted to both the Kelley School of Business and the Olin School of Business. Indiana University has offered me a full ride, and Wash U has invited me to interview as a finalist for one of their merit scholarships which can award full tuition. Money is a concern, and even with full tuition at Wash U it could be hard on my family to pay room and board. IU is closer to my home as I live in indiana, and it is a totally different type of school. I feel like it has more programs because it is larger and is more widely recognized for its business academics. However Wash U is a great school and Olin has been climbing the rankings. Would picking one school or another significantly affect my career opportunities? Would Wash U be worth the extra money? Any advice or tidbits you can share with me about either school that can help me make up my mind? I love IU’s campus, but Wash U is right by the city and has Forest Park next to it. Small vs big, there’s a lot of differences to look at. Can anyone give me a recommendation?
Your success is mostly up to you. Also, Kelley’s Investment Banking Workshop (if you get in; it’s quite competitive to enter) is a feeder to Wall Street. The feel of the two schools will be different, but in terms of positioning you for the job market, other than the Investment Banking Workshop, I don’t think that there’s much difference. Unless the fit at IU/Kelley is absolutely terrible compared to Olin/WashU, I wouldn’t pay more for Olin when I have a free-ride to Kelley.
Also, no one in the working world actually pays attention to rankings.
If money is a concern, WashU is great with need based financial aid. Look up their financial aid office phone number, and give them a call. Have your tax returns and incomes handy and they will be able to give you an estimate over the phone. They have given me a package that is very close to my EFC.
Kelley IB=Olin>>>>>Kelley for job prospects in IB.
The problem is that @qpqpqp is a teenager with zero experience in the working world. . .
Wash U has excellent financial aid if your family makes less than 150k a year. The merit scholarship could come on top of some need-based aid and make it as affordable as Indiana.
Frankly, they’re not in the same class (even with the IB workshop and even if Kelley is excellent). The environment and facilities at Olin will be much better.
HOWEVER Olin is not worth getting into more debt than the federal limit (5,500 freshman year, $27,000 total for all 4 years).
What’s your family’s EFC?
In any case, wait till you have BOTH financial aid packages, and compare the cost at each WITHOUT any loan (they sometimes appear as stafford, perkins, PLUS… in the financial aid package.)
@MYOS1634, do you know if WashU stacks or is that speculation?
In any case, yes, you might as well wait to see what the true cost is. And you can apply loans to cover your R&B costs.
Though WashU/Olin isn’t really a Street target (though they do send a few kids there every year). On the other hand, Kelley is absolutely massive with a student body of varying quality.
they offer no loans (full scholarships) for families 75k and under, and I believe that yes, some scholarships stack (not all of them).
In any case, the student shouldn’t make a decision until the full financial aid packages have arrived.
The financial aid officer told me around 20% of my parents income. Which is about $15,000 per year. However this is unrealistic for us, the best I could do is 10k a year. Any merit awards I receive will not lessen expected parent contribution, and will result in the lessening of my need based aid, however much I may receive, if it is in excess of my estimated parental contribution and need based aid combined.
@MYOS1634, OK, but do they stack fin aid with merit money? Also, meeting full need isn’t the same as a full-ride because pretty much every school gaps. Not to mention that WashU doesn’t promise to meet full-need.
Financial aid can never reduce EFC.
However scholarships may reduce loans, etc.
It sounds like OP is within the 75k group (if not they do have a pretty generous system up to 150k).
Wash U meets full need and covers 100% need with scholarships (not loans) for kids whose parents make $75,000 or less. It may expect an EFC but it’d be nowhere near $15,000 if OP’s parents make about 75k.
They’re trying to lose that “top school with fewest Pell Grant recipients” ranking. 
@MYOS1634, yes, but, again, “meets full need” almost always still leaves a gap. Not sure if you were a student with EFC near zero, but I know from personal experience. That gap can be covered by loans, but in any case, the OP has to get all the details first before deciding.