MIT Versus State School

Applying to College
1

<p>Hey All,</p>

<p>I am a junior this year, and am (as expected) facing the impending reality of finalizing a college choice over the next year.
Thus, I'm looking for some insight into MIT admissions. </p>

<p>Here is my question: Around how much debt can I expect to accumulate after going to MIT and, with that in mind, would it be worth the cost?</p>

<p>Here are some fun facts that relate to my question:
1. I believe I am a solid candidate to be accepted into MIT. I have decent test scores and have started a successful debate club, am president of our math club, drum major for our marching band and participate in medical research. With that said, I'm no ISEF winner so I wouldn't stand out in a pool of accepted applications. </p>

<ol>
<li><p>My family currently makes upwards of 140,000 a year. We were living on minimum wage plus social security from around 2008-2012 after my father was diagnosed with lymphoma, so we emptied our savings. </p></li>
<li><p>I can almost certainly go to Louisiana State University for free. It is likely that I will even receive a few thousand dollars worth of stipends each year. I am competitive for the stamps scholarship at the more expensive local private school, Tulane University. </p></li>
<li><p>I want to go to medical school and later become a neurosurgeon. So I can expect almost no income until 2023, 50-70k a year from 2023-2030 and then plenty after that. Of course, there will likely be delays and obstacles along the way. I would like to major in Chemical Engineering as an undergraduate, which should allow me to get my medical school requirements without deviating too far from the degree path. </p></li>
</ol>

<p>There are lots of posts on this forum, so thank you (really) for taking the time to look through this post
- Julian Stanley</p>

2

<p>If MIT hasn’t accepted you, you don’t have to worry, as the choice will almost certainly be made for you. ~80% of solid candidates get rejected. Check the most recent massacre over at the MIT RD results thread ;).</p>

3

<p>You can use this to estimate how much your parents have to contribute to your EFC:</p>

<p><a href=“MIT Student Financial Services”>MIT Student Financial Services;

<p>Your father had cancer. It looks like your family may need some money for his future wellness.</p>

<p>You can only borrow by yourself each year at most $5,500 to $7,500 for you undergraduate education.</p>

<p><a href=“http://studentaid.ed.gov/types/loans/subsidized-unsubsidized[/url]”>http://studentaid.ed.gov/types/loans/subsidized-unsubsidized&lt;/a&gt;&lt;/p&gt;

<p>Who is making $140,000 now? Who is making minimum wage? Who is receiving SS benefit?
Is your family income profile will be the same at the time you go to college?</p>