<p>D is lucky to have choices. Im worried that hoopla of college acceptances may be clouding her judgment because I know the finances are clouding mine.</p>
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<li><p>NEU full-tuition scholarship with 3.0gpa, honors housing & study abroad stipend. She can transfer in 32 ap credit, change her major several times, graduate early or take graduate courses. She visited twice, loves Boston and willing to attend but no longer her first choice.</p></li>
<li><p>Rice Its an outstanding university. It is a stretch for us so D would have to forego study abroad and take out 2500 in loans each year. D is already in love with the prestige of Rice. She will use up all the college money so will have to handle graduate school on her own.</p></li>
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<p>Weve been very honest about finances before she applied. The yearly cost of NEU is $16k and Rice is $22,400. Weve saved enough for $20K for 4 years and cant help out more due to younger child. She wants to study math/physics so will probably need a graduate degree unless she changes her mind </p>
<p>I know she will be happy wherever she goes but appreciate your advice.</p>
<p>I can’t speak to the “stretch” (hopefully, you are not using retirement funds or mortgage money). $10k in debt for her is easily doable. So I think you just lay out all the options, and the implications as you see them of each, and let her decide (presuming the stretch isn’t too great.)</p>
<p>No other choices (e.g. UT Austin or Texas A&M)?</p>
<p>Graduate school in math or physics is relatively commonly funded. Math majors who strategically include a few economics/finance, statistics, and computer science courses may find decent job prospects at graduation. Northeastern’s integrated co-op curriculum appears designed to enhance students’ job prospects at graduation. Does she find the integrated co-op curriculum a plus or minus, as that may be the biggest factor in Northeastern versus other schools?</p>
<p>I agree with mini. I would also point out that need-based aid with other kids coming down the pipeline is pretty much assured, while merit-based aid with a GPA requirement is definitely not. Many kids have found it more difficult to maintain a 3.0 every semester in college than they anticipated, and lost their merit money.</p>
<p>In addition to the comments above, there’s also the value aspect in addition to the price-tag. Most employers/grad schools I know of would look much more favorably upon a Rice graduate with the same/slightly lower GPA than a NEU graduate. Also…living expenses may be more expensive in the Boston area vs Houston.</p>
<p>My daughter is a Rice grad and I can’t say enough about the great experience she had at Rice. I feel it offers about the best all around college experience a student can have. I don’t think the financial hit is worth passing up Rice for Northeastern, in your family’s case. Houston is a fun city and the students take advantage of all it has to offer. Weather is great (summers are tough, but the students usually aren’t there in the summer anyway). Campus is beautiful and contained. Off-campus housing, if you need it, is available and varied.</p>
<p>It is often not that hard to squeeze $2500 out of the COA - living off-campus, getting off the meal plan, used books, disciplined personal expenses, etc. So she may need less loans than $2500, or no loans at all . How much will she be contributing from summer earnings? How much will travel cost? (I am assuming you are in Texas based on your name, but maybe not…)</p>
<p>The biggest drawback with merit is keeping that 3.0. College is a huge shock to many kids, who can struggle their first year even if they had great study habits in high school. You should investigate the terms of the merit carefully - is GPA checked after every semester or end of year, do you get a “probation” if you drop below, etc. Based on your post, if she loses the scholarship she’s coming home.</p>
<p>Biggest “drawback” of need-based is that if your financial situation improves at all, pretty much every extra dollar disappears to taxes and lower FA. On the other hand, if things get worse or if you have two in school at once, your FA may get better.</p>
<p>For that price differential, I think Rice is a better choice.</p>
<p>
I thought for most study-abroad programs you just continued paying regular tuition to the school while they are abroad, so it wouldn’t cost any extra.</p>
<p>Also asssuming you’re in Texas, I vote Rice. Not only travel costs at NEU but winter clothing and just general cost of the area. Lots of other good points have been made about the ability to maintain the 3.0.</p>
<p>Spending $10K for a Rice degree is a bargain. Also, are you sure the neeed-based aid won’t transfer to study abroad? How much younger is the younger child?</p>
<p>I vote with Rice. I think especially in Texas, the prestige of Rice can not be underestimated. People change their plans. What if she decides to work instead of grad school?</p>
<p>Thanks for the advice. I dont know how to insert quotes but to answer questions. Yes, we are in Texas and love for her to be close! Stretch for us doesnt mean dipping into retirement or mortgage just very tight- work study will be her only spending money. (She refused to apply to TX schools. Her other offers are from Alabama and Vanderbilt- husband is grieving turning down full ride to Alabama & Im grieving turning down generous offer from Vanderbilt.)</p>
<p>My biggest concern is what happens if our income increases. We can put aside the extra for college but are worried there may be an income brackets in which there may be a significant change. </p>
<p>We had 3 months to think through NEU & pros and cons of merit aid. Were trying to grasp the implications of need-based aid. Were visiting Rice this week and hope to have a better understanding.</p>
<p>My nephew had a phenomenal experience at Rice - was able to do research starting during Freshman orientation, just by asking. Loved the residential college system.</p>
<p>I vote for Rice for all the above reasons. If the younger child is in school at the same time your contribution to Rice will decrease. D used FA to study abroad and it worked out well.</p>
<p>My kiddo went to Northeastern – and I’d still vote for Rice in your daughter’s case. NEU is a great school for professionally-oriented students. Your D sounds more like a prospective scholar/researcher. I think she’d probably thrive in a more intellectually-oriented school. Frankly, NEU isn’t in the same league as Rice in terms of academic reputation and selectivity: this is important for grad schools. Finally, let me say this: for the past year, I’ve been interviewing young people who’ve gone on international volunteer trips and international internships. And Rice students/grads that I’ve talked to have been among the most interesting: intellectually curious, multi-talented, outgoing and passionate. Impressive kids who probably could have gone to college almost anywhere. The fact that they chose Rice says something about the school overall, I think. And don’t discount the possibility of your daughter getting a grant to study abroad. Rice isn’t exactly poor :)</p>
<p>There are always extra costs, LOL! D went on a term abroad…extra housing cost, airplane flights to Europe and back, no meal plan charge but the money sent for food was more, travel on the weekends, etc. </p>
<p>As to the original question, I don’t think $10K of debt is too much for Rice. Visited during Owl Days and I was impressed…</p>
<p>I have connections to Northeastern (sister, niece, coworkers) and I’d recommend Rice in this situation too. It sounds like you could save some expensive and moderatly long plane flights to and from, both you and your daughter and your husband.</p>
<p>OP, our S is a freshman at Rice and we had the same kind of decision one year ago. One of the things that we did not consider have been the opportunities for undergraduate research experience. S applied for and was accepted to work with a professor on a research team that will include a stipend for his summer work. It will be an unexpected and pleasant addition to both his resume and his bank balance, since the amount he receives will be more than he could earn coming home and finding a part-time summer job. I was initially surprised that he got the position, given that he is a freshman and had no previous research experience, but apparently that is not that unusual at Rice. </p>
<p>But ask your D to commit to the maximum in federal student loans , $5500-$7500 not $2500 ([Student</a> Aid on the Web](<a href=“http://studentaid.ed.gov/PORTALSWebApp/students/english/studentloans.jsp]Student”>http://studentaid.ed.gov/PORTALSWebApp/students/english/studentloans.jsp)). See if she’d still pick Rice over Vanderbilt in that case. Either way, save the difference for other educational expenses. Even $26000 in federal loans should be a managable debt for someone with a math/physics degree from Rice and a PhD from a strong university that funds her graduate work. You’ll feel better about her choice if she’s shouldering a little more of the cost. Ultimately, her future employer might even pick up these debts when they hire her.</p>
<p>Another vote for Rice. Better school, safer aid money, more opportunities, closer to home…<br>
As for study abroad - schools vary, but my hunch is that Rice would apply FA to study abroad.</p>
<p>Some schools/ study abroad programs don’t, but it still may be possible depending on the cost. When my niece went, she didn’t have FA for that term, but she applied directly to the foreign university for study and their tuition was so much less that it ended up costing no more than her college semester with fin aid.</p>
<p>I don’t kow if you mentioned what your daughter wants to study, which might also make a difference, but speaking as the parent of a Rice grad, I concur, it is WELL worth that small price difference. Go Owls!</p>