So I was accepted into Northeastern’s BSIB program with no aid or merit, but I was accepted into UVM and Fordham’s business schools with a scholarship - UVM (Presidential) and Fordham (14k). Northeastern is my dream school but honestly, I’m not sure if I’ll be able to make it work due to the price and I don’t want to be in serious debt.
If I go to UVM I will be debt-free, but I am unsure of how strong their business program is. At UVM I am scared of making minimal connections and internships compared to the city schools. There isn’t a lot of info. about where their undergrads end up post-graduation and I was wondering if anyone had any insight on this, and UVM’s business school.
If I go to Fordham I will have debt, but unsure of how much, right now tuition for me is coming up at around 57k which is still pretty steep. I was accepted into the Gabelli School of business for Global business, and I feel in NYC I can make strong connections, land internships, and hopefully get hired at a nice job. I also live relatively close to the city so I can come home whenever I want, but not close enough to commute.
I’ve been accepted into all of my schools so far with scholarships except I wasn’t given aid at my top choices, American and NEU. I only really applied to city schools except for UVM, so I’m scared Burlington won’t give me the strong corporate business environment I was kind of looking for, or I wouldn’t like it because I’ve been so focused on these urban city schools.
Any insight is welcome, thanks!
You are “rightly” concerned with money because when you come out making $40-60K and move to the city you desire, you will scrape by - but not with debt.
Most flagships have fine business schools. Yes, it won’t recruit like Fordham and Neastern due to where they are. Yet you will find a job. Most jobs today are found on linkedin or indeed. My son is in the metropolis of Tuscaloosa Alabama and it’s a #s game - he applied for enough jobs and had many interviews. Most “pre interview” you by hirevue today.
Neastern has the co-op which is great. Fordahm is fine.
Burlington is a city and I assume you have some comfort or wouldn’t have applied.
You will thank yourself in 10-20 years for going to UVM…all i’m saying.
My kid won’t be saddled with any debt. That’s my choice. It’s unfair to them - even if they don’t realize it.
My daughter got 15K at AU. Should she go to a $60K school or $30-40K school. You see what I’m saying.
Thanks for your insight!
Yeah I know the smarter decision is to go to UVM due to the price, it is just hard to wrap my head around it because it is not what I saw for myself, and I applied on a whim because all my other friends applied.
My fear is yes Northeastern would put me close to 100k in debt, but I would graduate with a lot of experience and land a higher-paying job. It’s just soooooo much money.
You need to get a handle on the finances…how much can/will your parents pay for college each year?
You can only take out $27K in loan over the 4 years of undergrad ($5.5K frosh year, then $6.5K/$7.5K/$7.5K). Any loans above that will be on your parents, either by co-signing private loans for you, or taking out parent plus loans.
Northeastern is around 67k for me, but the money I would be making on co-ops would go directly towards tuition. With the worst-case scenario for the co-ops tuition would drop to around 57k. My dad has been doing the math and plans to co-sign. Overall personal debt for me would be around 98k, and my parents agreed they would pay the other part of the loan, but it is still a lot.
UVM right now is 40k, I would still have debt there, but I would pay it off in 1-2yrs easily.
My parents are basing everything off my state school- UCONN where in-state tuition is around 36k and we didn’t qualify for a lot of FAFSA either.
$98K in undergrad debt is too much, monthly payments will be $1K/month, every month, for 10 years…that level of debt will require a significant starting salary to make those payments and will also prevent you from getting other loans to buy a car, or buy a house. I don’t understand what you mean your parents ‘would pay the other part of the loan’.
What are the net costs of your other options and how much in total loans would you have at each? In your original post you said you won’t have debt coming out of UVM. Did you apply to UConn?
Debt at UVM would be around 50k which is reasonable in my mind because the debt is lesser than all the other schools I have been accepted into.
Debt at UCONN would be a little below this. I was accepted, but I don’t really like the school, and they do not offer a lot based on my interests. I would much rather go to UVM.
I would have debt at all schools, but UVM is the most reasonable.
yeah I know, I’m not going to go to Northeastern because it’s honestly not worth the stress and the burden of the money. It is just hard to get over because I worked pretty hard to get in.
yeah I’m going to go over the numbers with my dad again because it just doesn’t seem right, given what my parents will be paying along with to the scholarship I received.
I have pretty high stats and intense extracurriculars. I applied to 12 schools, basically every school in a city from Boston → DC, and so far I have gotten into all of them. I am just waiting on GWU and BU, but I know I won’t receive a lot of merit from them.
OP, good idea to sit down with your parents and understand the finances for each school. Net cost, what your parents can/will pay, your $27K in student loans, and then see what the remaining balance due is.
haha thanks I know, I plan on grinding in college to get where I really want. My sibling is a junior and is starting the process now and they are pretty much the same way and understand what they have to get done, and the implications an expensive college brings.
You want to think Alabama, Arizona, Arizona State, South Carolina, maybe Miami Ohio. Arizona State and South Carolina have the two top Honors Colleges. U of SC is pulling from the Ivies. Washington & Lee has fabulous scholarship opportunities - and more than a couple. Also, Florida State.
Add those to what he chooses so you have options.
Alabama and FSU are bringing tons of kids from the NE and MW.
what your parents can afford out of pocket (without taking a loan for you) each year
what savings, if any, you have (college savings from grandparents, savings from a job, etc)
Then, can you calculate
(tuition, fees, room, board) - (grants, scholarships) = $…
for each university that has admitted you so far?
Did you get into the Honors College anywhere? Any special program?
Would you be open to sending a few more apps to see if you get into an urban school that costs less? Because in May there’ll be a list of colleges that miscaculated yield (and this year all bets are off when it comes to yield, due to covid, test scores, etc).
Right now my best option is my state school - UCONN, I was accepted into the main campus (Storrs), in the business program which I heard is pretty tough. My parents have told me they will take care of the cost if I go there, but anywhere else I would have to take out loans. (Ik before that I said I would have some debt if I go there, but I was wrong)
I have a college account of around 20k, so 5k a year, and I applied to a lot of local scholarships.
The last 4 years I’ve been pretty against UCONN because I wanted something better for myself, and yes I do know it’s a top state school for the Northeast and their alumni and programs are strong, and a looooot of kids from OOS dream of going to UCONN.
UConn is a better school than UVM overall, I was just attracted to Vermont for Burlington and the overall “vibe,” and the fact that I wasn’t at my state school with everyone else. In all other aspects, UCONN is a better school especially in terms of the future, and a financially smarter decision to attend. It is just a little isolated, but that’s the only downside.
I want to make the smart decision, and I know that is UCONN is that and will lead to great things in the future… just hard seeing myself not where I expected for myself.
Also I attend one of those ‘classic’ New England private schools, surrounded by incredibly smart and wealthy kids. A lot who attend and apply to ivies and other top universities such as UChicago/Tufts/ USC. My parents could afford to send me there ( reason why I was given no aid through FAFSA), but covid effected them a lot, hence the reason why affording college has been tough. So going to the local state school, will be seen as a little out of the ordinary for my peers, but I have to do what’s best for me.
You can go there and no loans. Why are you asking the question - especially with the amount of loans you are talking which you will need a co-signer and your parents probably won’t…certainly shouldn’t…so that’s a no-brainer. It’s a very good school.
Can’t you, as a Conn resident, get cheap tuition at other New England publics…they have an exchange I believe.