<p>
</p>
<p>[Three</a> tips from The Thinking Student’s Guide to College: 75 Tips for Getting a Better Education by Andrew Roberts](<a href=“Three tips from The Thinking Student's Guide to College: 75 Tips for Getting a Better Education by Andrew Roberts”>Three tips from The Thinking Student's Guide to College: 75 Tips for Getting a Better Education by Andrew Roberts)</p>
<p>
</p>
<p>In what way? U of F has a good business school. Save your money for your MBA…and go to your “dream school” for that. Get your undergrad degree without staggering debt…which is what you will have if you go to BU or IU.</p>
<p>*I can go to the University of Florida virtually for free. I just don’t know if its better to spend the money and go to a better school out of state </p>
<p>*</p>
<p>Are you talking about Bright Futures? If so, that will cover most of tuition…not all costs. If you can commute, then you can save on those costs, otherwise you’ll have room and board costs as well as books, etc.</p>
<p>Anyway…UF can do as much for you as those other schools you mentioned. UF is fine for a business major.</p>
<p>I also have the Florida college plan. I just feel as tho IU and BU are more elite and thus more respected schools and that they will provide me with more opportunities upon graduation </p>
<p>Sent from my SGH-I997 using CC App</p>
<p>Boston University would expect qualified students to know the definition of “debt”, I can guarantee you that. Have you been accepted already? Sorry, but that just shocked me. Who told you debt is only money owed that isn’t paid back on time? I have never heard something so ridiculous! My 8 year old understands the concept!</p>
<p>Florida is equally good as IU. Absolutely don’t get hung up on perceived differences. At all of the schools you are considering, BU, IU and UF, your education will be what you make it. </p>
<p>Do great academically and do internships and you will be fine.</p>
<p>I’m just concerned about the job prospects </p>
<p>Sent from my SGH-I997 using CC App</p>
<p>$35,000 a year for 4 years at 8% will have grown to about $170,000 by the time you graduate (assuming you are not going to pay the several thousand dollars interest each year while you are in college). The repayments will be around $2000 a month every month for 10 years. That is a huge debt load that will make your life very difficult. Going to a more expensive school is not going to get you a job that will enable you to afford such a huge debt. If you are unable to make the payments on time every month or if something were to happen to you, your Mom will be automatically be responsible for the debt, which means they can go after all her assets if she does not make the payments. That is if she is even able to qualify to cosign for that amount for the full 4 years. Lenders may approve the loan the first year or two then decline it in subsequent years because the cosigner’s is carrying too much debt.</p>
<p>You need to seriously consider the impact such a huge debt will have on your future and also on your Mom’s future if she does cosign for you. (I personally would never cosign a loan for anyone. A cosigner bears all the risk with no control over what is happening - cosigning is very risky for the cosigner).</p>
<p>
</p>
<p>At an opportunity cost of $170,000, you’d have to pay for those undergrad “opportunities” upon graduation by living in your mother’s basement and having absolutely no money after student loan payments left from a take-home paycheck that would be “above average” for the typical college grad – FOR TEN YEARS – even if you <em>could</em> get a job!!! While your other pals are off getting prestigious MBAs and better job offers because they kept their undergrad debt to a minimum…
And guess who would get the better job?</p>
<p>So you want to be a business student? Then use business sense to see this plan will net you a terrible ROI and is a high wire act </p>
<p>Spend as little as possible on undergrad and do the best you can for graduate school! It’s like a paint job…the base coat just needs to cover; the top coat is the good one ;)</p>
<p>*I’m just concerned about the job prospects
*</p>
<p>What is the basis of your “concerns”?</p>
<p>Seriously. </p>
<p>IU and BU are not going to be better for “job prospects”…and MORE importantly, whatever job you get after going to either school WILL NOT pay you a larger salary…so you won’t have extra money to pay back big debt. The idea is just nutty.</p>
<p>Just for everyone who tried to tear down my aspirations to go out of state, I filled out my FAFSA and CSS Profile and my EFC is only 6.5 k. BU and IU look realistic now, sorry to disappoint. </p>
<p>Sent from my SGH-I997 using CC App</p>
<p>*BU and IU look realistic now, sorry to disappoint. *</p>
<p>thats great- what were their offers? Or are you counting chickens…?
<a href=“http://talk.collegeconfidential.com/boston-university/1111045-negotiating-financial-aid-boston-university.html[/url]”>http://talk.collegeconfidential.com/boston-university/1111045-negotiating-financial-aid-boston-university.html</a></p>
<p>How do you know what your PROFILE EFC is?
[Financial</a> Aid for Incoming Applicants Financial Assistance | Boston University](<a href=“http://www.bu.edu/finaid/apply/incoming/]Financial”>http://www.bu.edu/finaid/apply/incoming/)</p>
<p>
</p>
<p>All the more reason to only go IF either offers decent (non-huge loan) aid. Your mom won’t likely qualify for more than one year (if that) of high loans. You’d have to transfer or take a break to work before finishing. Not all colleges meet aid needs.</p>
<p>There’s no way any of my boys would consider such high loans for college. I feel fortunate that they all have a good financial head on their shoulders. They are all going to 4 year schools - just financially affordable 4 year schools. Oldest is at a private LAC. Middle has 3 to choose from with 3 more decisions yet to come. He will likely be choosing based upon financial offers. Youngest is just a sophomore in high school, but I’ve showed him how to check actual cost possibilities (not sticker cost) when he looks at places he finds interesting online.</p>
<p>Falling in love with a pricey school is falling for perceived prestige (that many don’t share). I’ve yet to hear from anyone who has high college debt who feels their undergrad education was worth it. “An” undergrad education is worth some debt, but not high debt. You’ll be chained to paying it off for a long time.</p>
<p>But, as I said, with an EFC of 6.5K, I doubt your mom will qualify as a co-signer for 4 years.</p>
<p>Ya know, businessbound, folks here were sharing their experiences in order to help you make good decisions, not to tear you down. One thing that will assist you in a business career is to accept people’s input without inordinate defensiveness 
Another thing that will assist you is to investigate what’s called “the gap” and then talk to your mom about what kind of help will be available. IU is reasonably priced for OOS students and does give automatic merit scholarships for certain combinations of stats, but as a state school, they’re highly unlikely to meet full need for an OOS even if fafsa says you have high need. So you’ll have to compare packages when the time comes. What your fafsa actually means is that you don’t qualify for pell or other fed grants, that you’ll be allowed to borrow $5500 your first year and $7500 in subsequent years – meaning you will need to bring a minimum of $12,500 to $14,500 to the table each year, plus whatever you’re tapped. If your mom has to borrow the $6500 min. Then you’re still looking at being $55,000 in debt for undergrad versus, from what you say, FREE.</p>
<p>Kmc is correct. Neither BU nor IU guarantees to meet the full need of accepted students…and they do not. The very LEAST you will be paying is your FAFSA EFC. BU also requires the PROFILE so get that submitted. Make sure you have at least one financial safety school on your application list that you like and can afford to attend if the finances don’t work out at BU and IU.</p>
<p>BusinessBound - I suspect that your most recent experience with math contains many letters of the alphabet …you need to acquire an old fashioned understanding of dollars and cents…which hopefully will lead to a more grounded “sense” of what this kind of debt will mean to your options in life. Revisit the concepts taught in high school business math, people here have been trying to help you see the forest for the trees.</p>
<p>I will only be going OOS if I get very reasonable financial aid packages. If not, I will stay IS.</p>
<p>Sent from my SGH-I997 using CC App</p>
<p>OP, since you clearly already knew all the answers, why did you waste our time with the questions? </p>
<p>Sent from my SAMSUNG-SGH-I897 using CC App</p>
<p>I honestly really appreciate everyones comments other than from teachandmom. I apologize for misunderstanding a concept, but a simple correction would have been fine. </p>
<p>Sent from my SGH-I997 using CC App</p>