@MYOS1634 I remember OP and for DD1 at Cornell it was federal loans AND significant Parent loans. I know the best school is lovely but with UF free, this seems risky.
@MYOS1634 From what was posted, 100k in loans for DD1 minus a semester with graduation early. Gapped 25k a year for Cornell. Iâm uncomfortable encouraging more. I realize everyone has to make their own choices on this.
I didnât realize that - based on what the parent said, I assumed the family could afford âout of pocketâ.
In that case, unless Cornell comes through with FA, or Marist/UMN offer significant merit aid AND the daughter really wants to leave Florida, then UF would be better, especially since its low cost would allow for necessary study abroad.
(Warrington has outstanding exchanges with GEM, SKEMA, and Bocconi. One big downside is that they donât offer anything related to OPâs daughterâs interest so sheâd have to dig into the different majorsâ components and requirements to see what would work best for her.)
Another possibility would be to look at all universities in Florida- including private universities where she can use her prepaid+BF, such as Rollins or UMiami - : sheâd have a very good shot at Honors College at most of them and then dig into their majors, study abroad offerings, internship reputation, etc.
What about UCincinnati if OPâs daughter wants to go OOS? Sheâd certainly be competitive for Honors College and Cincinnatus scholarship, and they have an excellent system of co-ops.
(Or Northeastern if costs can be within budget thanks to merit�)
@MYOS1634 From the last go round, OP could afford 18k a year with real estate that couldnât be liquidated easily or smartly driving up the EFC. Does FIT have great merit? If each child gets the same elite opportunity as the first (because that is fair) that is 400k in debt before retirement. In theory each child would take theyâre own debt but 100k is a lot for a kid to have. And grad school or law school debt in addition never mind international travel. This all looks just very expensive to me and I would personally just be an evil parent at this point and say no. Life isnât fair. This is what we can afford. We usually donât steer parents in this direction here. Not my business but I still find it concerning. Hopefully Cincinnati is promising.
100k in debt as a college graduate trying to launch is like trying to swim with an anchor around your neck.
So, federal debt would be OK, the 5.5k from Stafford.
I guess the ideal situation for this student would be to find a university that doesnât count real estate much and doesnât package loans.
Running lots of NPCs with and without the real estate would be essential.
FIT is public and as a public OOS applicant, thereâd be little aid, plus cost of life in NYC is astronomical.
Really, getting into the best school regardless of major that doesnt package loans and using their career center for excellent internships in NYC would make the most sense if sheâs looking outside of Florida.
Running the NPC on Princeton, Amherst, Davidson, Williams, UPenn (for Wharton) would be a good first move.
See whether the net cost there is anywhere near 18k.
Then, applying where her stats can get her merit.
At FIT, itâll be 17k tuition, and 17k minimum r/B (closer to 25k). So, the student would need a full tuition scholarship in order to be able to attend FIT. I donât think such scholarships exist but they should scour the âscholarshipâ pages, look into the Honors College (which has scholarships).
If the parents co-signed for 100k, theyâre unlikely to be approved for more debt at this point.
Marist College in New York (located about an hour outside the city). I visited this summer with DS looking at another program. Although the school was not a fit for him, I was very impressed with the school in general and never thought highly of a fashion program until I learned about theirs. Proximity to NYC canât be beat, lots of internships and connections. Nicest dining hall and library weâve seen. Beautiful campus.
If sheâs interested in fashion merchandising, LIM in NYC should be on your list. They concentrate more on the merchandising than FIT, where the emphasis tends to be more on design.
@MYOS1634 She said their EFC was 38,000 which isnât affordable. A 20k gap with what they can pay OOP. A meets need like Amherst wouldnât do better than your EFC would it? Is Fashion Merchandising a very high paying career? It all looks expensive to me. I donât see how these 50-60 k NYC privates would be affordable. Getting a merchandising or marketing degree from UF in two years with no debt then moving to NYC would that not be sufficient?
@gearmom Thank you for your concern. My finances are not the same as 3 or 4 years ago when I posted about EFC and My DD1. As she was my first child I did not realize that she would be given scholarships and grants thus making the total loans much less than expected. In fact, she doesnât have any loans in her name at all⊠The parent plus I took out for her is not any more than I would have paid had she stayed in state and we have been paying it back monthly. So, I just came here basically looking for ideas for schools that DD2 could apply to. Also, like I mentioned, we have Florida Prepay and a 529 for the others and that will roll over to OOS schools if they choose to leave. For some reason you seem to keep mentioning an EFC of 38k, which is not my EFC.
@lisaol Iâm glad youâre doing well. I got the 38 EFC from your April 2015 post (your Financial Aid thread) which I saw when trying to remember your first go round with DD1. Anyway best of luck to her. Some great suggestions here. Sounds like you have a bunch of high achievers which is a credit to you as a parent.
Would she consider Auburn? My cousin majored in fashion merchandising there years ago, and I believe their program is still strong. At a university like that, she could switch to another major if she changed her mind, and still have a very good degree.
@gearmom Thank you. I appreciate that.
@Massmomm Yes, she has considered it. They rank very high. What does your cousin do now?
@lisaol, sheâs actually a teacher, but worked in the retail industry for quite a while after college.
@lisaol, I like the fashion merchandising programs offered by schools like Auburn and Marist, and although I donât have first hand knowledge of their access to the apparel industry, it seems they they have a good network for internships and career placement.
I think your daughter is at a pivotal point. Her profile is strong enough to qualify her for admission to a selective, academically rigorous college. Her interests, however, draw her toward the fashion retail industry which is a highly hands-on OJT path.
My inclination would be to choose one or the other: either an academically rigorous college that would challenge her intellectually + summer internships, or a trade-focused âfashionâ school that would connect her immediately to the industry. The middle ground, for example, 2 years at UF + an associate degree at FIT or a BS/BA at a less academically rigorous school with a solid merchandising program, seems to me to be less satisfying in either direction.
You mentioned that your daughter has taken summer fashion courses for several years. Has she ever held an actual job in retail? The fashion industry is a vast eco-system of retail and wholesale with numerous niches and subcategories: department stores, mass market, speciality retail, private label, designer brands, huge corporations, small start ups, e-commerce.
The function of the merchant and the merchandising department varies widely depending on the type of organization and the type of product. A merchandising (or buying) position can comprise any combination of design, planning, sourcing and marketing. For that reason, itâs not a career that lends itself to formal education, aside from the basic attributes of elevated taste level, very strong analytic, communication and persuasion skills and unabashed (at times ruthless) ambition.
Boston University has a well known program and a great exchange student setup right in the heart of London (terrific
for one semester). Also consider VCUARTS has some amazing instructors that have been very helpful to our D. Its a great college town Richmond. D loves it and has had much success we attribute to the guidance of the program (and of course, talent). Good luck
@stones3 Boston University has a well known what?
Not aware that BU offers anything in fashion merchandising, Lisaol. The school offers a BFA in Design & Production, but this relates to theater. Probably just another segue into shilling VCUArtsâŠlol
@BrooklynRye I looked at it and didnât see anything related either.
they typically are marketing majors or communication(PR) . Thereâs a âFashion & Merchandisingâ Alumni Association for networking post graduation. As well as the FAB (fashion association) . The school is excellent at finding internships in the fashion industry. :))