Trying to decide between the three… $20,000/year scholarship from Northeastern, also the co-op seems fantastic. Got into Integrated Business and Engineering program at Lehigh, but super expensive. Bing is a lot more affordable. Advice?
Are you in-state for Binghamton?
Yes, I’m from NY
What are the costs of all three schools after scholarships and any aid? Where is the money coming from? Any loans? Answer this for all three if you can, as it makes a big difference.
Northeastern- $20,000 merit scholarship, so the estimated cost is about $47,000.
Lehigh- $66,000
Binghamton- $24,000
And how are you paying for them? Any loans? From parents or personal savings or something else?
Any plans for graduate school?
Loans/parents. And not sure on grad school
Binghamton is a fine school. I’d go there and avoid the loans, especially if grad school is a possibility.
Ask your parents what they plan to spend. All options are good. If money is no object, then Lehigh might be. a good choice. All are fine. Have you visited?
I’d come out of Binghamton debt free, definitely would have to take out loans on the other two. I’ve visited Lehigh and northeastern already, and I’m visiting bing this weekend.
Lehigh IBE is very prestigious and their grads earn a lot of money because they get the quantitative education of an engineering degree, but also the business training from the business degree.
I just don’t see the other options in quite the same light.
How much would you have to borrow to attend Lehigh?
I would probably have to borrow around $30,000 per year for Lehigh…
That’s probably too much to take on yourself. It’s a 5 year program right? I think that’s too much.
Your parents don’t qualify for financial aid?
Yes, 5 year program.
And nope, we didn’t get any aid
Borrowing 30K per year is ridiculous. Lehigh should be off your list. Sounds like your parents are willing to pay 36K per year, right? So NEU would cost 11K per year in loans and Bing would cost you nothing. This is a decision between you and your family - and how much you like Boston vs Bing. $40K in loans is still plenty - but it may be less for NEU with the coops in engineering.
Think about it in terms of 4 year cost…
NEU - $188,000
Lehigh - $264,000
Binghamton - $96,000
All three are ABET accredited engineering programs. Bing has an excellent school of management, where, if you are motivated, you could earn a minor in business. I would strongly consider Binghamton.
Put the money you save toward an MBA or an MS.
Great options! Best of luck!
The Lehigh program is great, but I just think that is too much debt to take on. Graduating with around $150,000 in debt ($30k/year x 5 years) will have a major impact as you start out your life and could limit your choices. I’d opt for Binghamton and graduate debt free.
Bing would definitely be the best option financially. Would a degree from Binghamton be significantly (if at all) less hirable in the eyes of an engineering employer?