<p>So I have a very tough decision to make, my parents wanted me to have the input of as many people as possible. They would like to know which is the SMARTER decision. I plan on studying Economics, and possibly transfer into the respective Business Schools of either university.</p>
<p>Michigan vs. UF</p>
<p>Option 1: Michigan
-Honors Program
-$40,000 scholarship</p>
<p>Option 2: UF
-Non-Honors Program
-Full Scholarship</p>
<p>In your comments please mention any other pros and cons you think might be relevant to my decision it would be much appreciated.</p>
<p>So, is the delta here 120K over the course of 4 years? That’s too much money IMHO but Michigan may be worth the additional cost if your parents can afford it without too much burden, especially if you are aiming for a career in Investment Banking or Management Consulting.</p>
<p>This is not a hard decision at all…UMich all the way…Do you know how good honors at one of the world’s top public University is ? I will even go as far to say that if you choose Florida, then Congrats you just made the stupidest decision in your life…that is considering you can pay the remaining fee at UMichigan</p>
<p>If you have no money then you are forced to pick University of Florida</p>
<p>Florida is very good, but if your intent is to major in Business, and your parents can afford the difference in cost without too much hardship, I think Michigan may be worth it.</p>
<p>mom2collegekids, hopes2b has indicated that his scholarship is worth $10k/semester, of $80k over 4 years. If Michigan costs $200k over four years, it will cost him $120k after the scholarship. That is still a significant amount over Florida, assume the “full ride” at Florida includes room and board.</p>
<p>Now that I reread the posts above, I think the OP meant that the scholarship is worth $10k/year (not semester), or $40k over four years. If that is the case, Michigan would cost $160k more than Florida, again assuming that Florida’s full ride includes room and board. If that is the case, I would recommend Florida unless his parents are very well off and can easily afford Michigan. </p>
<p>Hopes2be, I have two questions:</p>
<ol>
<li><p>Is your Michigan scholarship $10k per semester or $10k per year. In other words, over 4 years of college, is it worth $80k or $40k?</p></li>
<li><p>Does your full ride to Florida include room and board, or does it just cover tuition?</p></li>
</ol>
<p>The scholarship amount at MI is meaningless outside the context of your own total cost of attendance. Go to [FinAid</a>! Financial Aid, College Scholarships and Student Loans](<a href=“http://www.finaid.org%5DFinAid”>http://www.finaid.org) and find the Award Letter Comparison tool on the page that lists all of the calculators. Sit down with your parents, and run the numbers there. If they find that MI is affordable, then it is OK to choose MI. If it isn’t affordable without twisting the family budget into knots, go to FL.</p>
<p>The savings look to be sizable if you choose FL. That kind of money could pay for grad school.</p>
<p>I agree fully that the amount of the scholarship is not important. What is crucial is how much will you have to pay to go to each school? Where are you going to be getting that money? </p>
<p>If your parents are able to afford it, and are willing to pay it, go to UMich. All other things equal, it is the “better” school by most measures.</p>
<p>Do understand, that getting into the business program there is not automatic and competitive. If that is truly your goal, and accounting , for example what you are interested in pursuing, you might want to check out what it takes to get into the schools of business of your choice. An auto in or close to it at UF with a full ride sounds awfully good to me. I know a number of kids from here that did not get into the business school at UM, graduated with some major that they weren’t that interested in, and are now taking courses at even more expense to get some job. Their peers who got their accounting degrees at little ol’ XYZ college are taking home close to 3 figures a few years after graduation, with CPA now in hand. So, do look at the whole picture.</p>
<p>Also, if your parents are struggling financially, it’s really not a good thing to take on even more of a financial burden. It’s such a sigh of relief to have college costs pretty much taken care of. Borrowing prolongs that torture for even longer, and there are families who have ruined their credit not being able to repay cosigned loans for their kids’ education. YOU, as an 18 year old are not going to be able to borrow much on your own. If the gap is such that your parents cannot pay it out of savings or current income or a small loan each year, after you have exhausted your own loan potential (Staffords and maybe Perkins loans) it is not worth it. UF is a very good school.</p>
<p>In the first post, he writes that Umich’s award is $40k…which is probably correct. </p>
<p>then in another post he writes $10k per semester…when he may have meant to write “per year” since that would be a $40k award.</p>
<p>Plus, UMich’s rates are higher for junior and senior year. If his scholarship really is for $10k per year, then UMich will likely end up costing over $160k.</p>
<p>SAT I (by section):640-R 650-M 690-W</p>
<p>With these stats, I doubt that Umich gave him $10k per semester.</p>
<p>Hopes…what is your “free ride” to UF? Are you talking about Bright Futures? Or do you have a Pre-paid? Your stats don’t seem high enough for a “free ride” award (which would be tuition, room, board, and books).</p>
<p>No one has said that the OP is getting $40k per year for UMich. The confusion is whether the student is getting $10k per year or $20k per year. It looks like the student is getting $10k per year.</p>
<p>Until the OP answers my two questions, it is pointless for us to advise him. He was way too vague. I am inclined to recommend Florida unless (1) he is getting $20k/year from Michigan and Florida’s full ride does not include cost of living (room and board etc…) or (2) his parents are well off and can easily cover the difference in the cost of attendance.</p>
<p>mon2collegekids, the difference between sophomore and junior tuition is not that great (under $42k vs over $39k I believe). That’s $5k over two years.</p>
<p>I’m going to go against the tide and suggest UF. Depending on where you live, you have to consider the cost of transportation, which can add up fast. Also, if you are planning to go to grad school, get the undergrad for free, and then the sky is the limit for grad school.</p>