<p>I am currently deciding between Carnegie Mellon University's business school Tepper, or the University of Miami's business school. I live in Miami so it would be close by. Miami is also offering me a full ride + about $10,000 pocket money. However, I've heard Tepper is really prestigious and is worth the extra money. I was offered about $37000 in grants from CMU and a $2500 work study and $3000 loan. So a little over $42000 was the total financial aid offered. The Cost of Attendance is about $49000. Is CMU worth the extra 6 or 7 grand a year in loans, or should I just stick with UM for undergrad since I will be making money on top of receiving full tuition?</p>
<p>You need to research the placement stats for each school. With professional schools, it's often worth it to pay extra money -- even a lot extra money -- to go to a prestigious school.</p>
<p>If you compare starting salaries, you might be shocked at the difference. I would guess that if you have an MBA from a top B-School, you have an excellent chance at landing a high paying job. Which may not be the case for a lower tier school.</p>
<p>I suggest you re-post your question in the business school forum.</p>
<p>lol.......yes I have thought about investing the money. My family wants me to stay here, and my counselors think that I am giving up a wonderful opportunity if I reject CMU's offer. Now, I don't even know what I want anymore. I am waiting for a new financial aid package from CMU because they are working to give me a more competitive aid package after hearing about UM's offer. Hopefully, after tomorrow when I get my package, that will make the decision a little easier. But, thanx guys I will continue to look into everything.</p>
<p>I have a similar problem as you, Smartbrotha07, but undergrad. I really want to go to Brown, but I have a full tuition scholarship to USC. My brother will be in his last year of college next year, so I got some finaid to Brown for the first year, so the first year would cost $20k, but a Brown finaid officer said it could double in the subsequent years! USC would cost about $9k a year. My parents didn't get any financial aid for my brother, the first child in college, and I guess they didn't realize what a financial burden it would be for them. I think they have maxed out their loans, and I don't want them to be any more burdened financially with my education. They say they could pay for the first year at Brown, but from there, it would start getting difficult. </p>
<p>Would it be worth it to be drowning in student loans to get the Brown degree, or should I go with USC because its cheap? Will the Brown degree compensate for the student loans over time? Meanwhile I live in NY, so USC would be quite the change.</p>
<p>smartbrotha, go U of Miami, keep the $10k/yr, use it towards grad school. With that kind of extra cash, all you need to do is live like a normal college student (aka poor), pretend like it doesn't exist while it sits in an ING or HSBC direct account (we're talking 4%+ interest here) and accumulates interest. Undergrad means nothing, especially with the opportunity you've been given (you've basically been afforded the ability to make being a student a paying job).</p>
<p>If you're smart enough to get into CMU, you should kick ass over at U of M, which'll make grad school placement easy (and we all know how important grad work is in the business world). </p>
<p>Also take note that if Miami truly sucks, as long as you saved your money, you can always transfer, and use that money to help pay your way through the college you transfered into. </p>
<p>food for thought. </p>
<p>pm me with your decision, I'm honestly interested in seeing what you decide.</p>
<p>thanx drmambo. I'll make sure I pm you with my final decision. However, if i forget I'll try and remember to post it somewhere on CC. And, yes I completely understand what you mean about saving the money and investing it. I was just a little stressed out lately because it seems like all of my counselors, except for one, are ganging up on me and telling me GO TO CMU!!! or else....</p>
<p>Where are you headed? I remember you wanted Wharton so I'm guessing you want a big business career.</p>
<p>The Elite blacks on Wall Street tend to come from HB schools, ivies and top LACs more than from anywhere else. Where you go now does matter if you want a top B school.</p>
<p>Hey suze I got waitlisted for Wharton. And, as for CMU and UM I am deciding between which one to choose for undergrad. CMU updated my financial aid package and they are offering me an additional $6000 per year, giving me a financial package of $48000+ per year. And, as you have read, UM is offering me lots of money to go.</p>
<p>well if you go to maimi, you'll have to tell ppl that for the rest of your life. do you really want to do that to save moneY/ you'll make plenty of money iin your life,so choose prestige.</p>
<p>Sorry to hear that smart. You still have another shot for grad school. Keep the focus. Don't get swayed by $$ now, the $10K won't seem like a lot if you're successful in business. Go to the best college you can afford which sounds like CMU. Use their network to get the best summer jobs and internships you can. There is a strong and growing network of smart blacks on Wall Street. Might be a good place to spend a few years before a Wharton MBA. Good luck!</p>
<p>Thanks suze. Since this is a very important decision I have to make, I just don't want to make a bad decision and regret it. I only have about a week left before I have to make the FINAL decision so i'll have to do some heavy soul searching I suppose...</p>
<p>Hey guys...I have decided to go visit CMU this Thursday and Friday. This will hopefully give me a better idea so I can make my final decision. I should have my FINAL decision by Saturday after coming back.</p>
<p>Weather is likely to be crappy on Thursday and Friday. FYI. </p>
<p>I was born and raised really close to Pittsburgh, and it is a great little city with lots to do. But it's not Miami, and there is not really a beach. Rivers yes, lakes in the surrounding area..OK....</p>
<p>CMU is a great school with a fabulous reputation. Good Luck with your decision. I'd go to CMU.</p>