Need help deciding which college to attend!! Any advice greatly appreciated...

College Search & Selection
1

I am interested in studying finance/accounting/business, but I want to leave open the option to pursue law or medicine.I like to travel a lot, really want to join a fraternity, and want a school with great job prospects after graduation and a strong alumni network but also a school with a large party scene (also in a large city or a large university itself). I am not particularly concerned about sports, but I like football more than basketball.

I have been accepted to UVA, IU-Bloomington (Direct Admit - Kelley, Honors College), Notre Dame (Mendoza), UK (in-state, Honors College, Global Scholars Program), Alabama (Culverhouse, Honors College), and Miami University-Ohio (Farmer, University Academic Scholars). I was waitlisted at Vanderbilt and Wake Forest.

As of right now, I need to enroll at one of the six schools I’ve been accepted to by May 1. The estimated yearly costs of attending each are:

UVA- unknown (still waiting on FA but may not receive any) $70k as of now plus fraternity costs
IU- $37,666 plus fraternity costs
UK- $16519 minus KEES money plus fraternity costs
Notre Dame - unknown (still waiting on FA but may not receive any) $70k as of now
Alabama - $19572 plus fraternity costs
Miami of Ohio- $29500 plus fraternity costs

I will have taken 10-11 AP exams by graduation this year, and all schools give a reasonable amount of AP credit except Notre Dame.

I can afford up to $40k a year at whatever college I choose but no more. I will have visited all of the above except UVA and Notre Dame, which I haven’t visited yet because I don’t know if they are financially feasible (I’m visiting Miami on Friday).

I want to start my career in a major city like New York or San Francisco, and I’m really not sure at this point what option to choose. I really liked Alabama and IU. I’m particularly interested in the investment banking workshop at IU and the Culverhouse Investment Management Group and double finance/MIS major at Alabama. I don’t want to sacrifice the prestige/connections/alumni network of Notre Dame or UVA but also do not want any debt.

What do you guys think? What would you choose, and where would I have the best opportunities/“bang for my buck?”
Any advice is welcomed and appreciated. Thank you.

2

Is it your parents paying up to 40k?

If you can afford it I’d go IU Kelley. I’ve heard great things about the IB workshop, and it’s a well known name. I think it’s a good middle ground between the super pricey ones and the ones that have much less prestige.

3

So you’re saying if you attend one of the schools that costs over $40,000 you would take out $30,000 a year in loans, so 90K over four years? Don’t do that. I would go to IU Kelley from your options.

4

I think you’ll be successful wherever you go as long as you work hard and take advantage of the opportunities available. I know someone graduating from a less prestigious Pac-12 school (WSU) who landed an internship at KPMG and is headed to grad school. Consider the non-academic pros/cons of each. Would you rather be close to home? Do you want to avoid the Midwest winters? Do you want to live in a college town or large city? If you want to be part of one of the largest (and top) Greek communities in the US, with a competitive freshmen class (over 40% have at least a 30 on the ACT and 1/3 are going Honors), better financial package, and amazing football, then Roll Tide! Any you’ll have enough money left over to attend all of their playoff games and National Championships :).

5

Bump… still undecided and have until Monday to choose between ND and IU Kelley… update: Notre Dame offered me $20600 in scholarships that don’t have to be paid back…

6

Is ND affordable for your parents? I’m biased toward it, as I have a daughter there who loves it and there have been so many opportunities for her there. However, if it involved taking large loans, then I’d say go to IU.

7

My parents are paying up to $40k and absolutely no more, so I’d have to pay $7-10k year. My main concerns are social life, the lack of frats, the weather/location, and being unaffiliated while ND is largely Catholic… I do see that Notre Dame has a fantastic alumni network an de what appears to be a strong finance department and business school in general. @suzy100

8

My D is not Catholic - not even religious - and it has not been an issue whatsoever. The lack of Greek life has been liberating for her and was something she looked for. The dorms essentially function as “frats” and the kids are very loyal to them. There are lots of parties that go on in the dorms, and in the off-campus houses associated with those dorms. The social life there is very vibrant. Have you visited? Greek life is very big at IU, so if that’s what you really want, it’s obviously the better option.

The weather is going to be the same in both locations, and Bloomington is not a big city - obviously South Bend isn’t either.

They both have very well-regarded business schools. I would argue that the alum network is stronger at ND, but someone will come here and tell me that I’m wrong and they could be right.

These schools have very different vibes, so I will ask again: have you visited both?

9

I haven’t had time to visit Notre Dame and won’t have time before tomorrow when I have to decide… i do really what to be in a frat but I also want the best job opportunities after graduation… it’s good to hear, though, that your daughter is not religious and still likes it.

10

I’d pick IU. Kelley has a great reputation; ND, while a great school, is not worth twice as much.

11

Notre Dame is roughly $10,000 more at this point @gardenstategal

12

So you’d need to take $40k in loans (4x$10k) for ND? Since you can’t take out that much personally, are your parents willing to cosign some of that?

Given that you want to move to a very high COL area after graduation, I’d avoid debt. Period. You can’t imagine how much that loan payment will hamstring you in either city especially since a social life seems pretty important to you. To me it’s a no brainer…

13

@JustGraduate I have about $10k for the first year, so I’d have to earn at least $10k a year during summers and the year…

14

@JustGraduate My main concern is that I’ll be sacrificing prestige and connections if I don’t choose ND…

15

Sorry, I’m not buying the prestige and connections concern, especially when you’re talking IU. It has been one of the best business schools in the midwest/east since at least the late 60’s. My dad had a job in personnel in a major oil company back then and IU is where they sent their star performers to graduate B school. Long established reputation leads to connections. And prestige doesn’t help you a lot when you’re juggling high rent and college loan payments - and want a social life.

Do yourself a favor…run some numbers using a mid level starting salary (remember ND won’t give you much if any of a salary boost over IU), and don’t forget to take out 30+% for benefits, taxes, retirement contributions, and saving for at least an emergency fund. Do some research and come up with a mid level rent for NYC or SF (if you use anything less than $3k/month for a studio in midtown of either city you’re not being realistic) and basic living expenses - utilities, food, parking and car insurance if applicable, transportation costs for mass transit/uber/taxi, food, insurance, internet, entertainment - you get the idea. Then add in loan payments for 10 years. How much does that leave you to live on? And realize chances are you’ve underestimated expenses for 10-20% just because you’ve never lived on your own in a big city.

16

@JustGraduate that’s a good point, but I still want to transfer to Penn (Wharton) after freshman year if I can get in. I forgot to do a deferred applicant update after being deferred ED, and that still remains my top choice… I definitely do hope to achieve a significantly higher salary after 5-10 years of work so that I can afford grad school. So you’re saying that direct admission to IU-Kelley will present that same opportunities as admission to Mendoza at ND in terms of employment opportunities and opportunities for promotion…?

17

What you actually DO and accomplish in your job/career will mean much more than where you got your undergrad degree, especially after your first job. At best your u/g connections will help get an interview but snagging the job is about your experience and who you’ve become. And it’s not like you’re comparing ND to a regional state U that doesn’t have national standing… IU Kelly is well known.

18

Just a sidebar – I would not start a college with the intent of transferring out. You will find that kind of thinking will stand in the way of your being able to develop strong friendships, meaningful relationships with professors, getting involved on campus etc. and then if the transfer doesn’t work out you will be really stuck. It is fine to throw in a transfer application of course, but know that the odds are very slim and that you will likely be staying put for 4 years.

And I’m a huge ND fan, but you have never seen the school and right now it doesn’t seem affordable. You can take out $5,500 in loans but where will the rest come from? Kelley may be the best affordable option.

19

IU - Kelly - great school

20

I think IU Kelly will meet most of your criteria, is highly regarded, and more affordable. If you were talking about paying a premium for Wharton, that would be one thing, but Notre Dame – sight unseen – is surely not worth it in my opinion.