<p>Hi! I was accepted into both the schools listed above and I'm having a really hard time deciding between them. I live in the Chicagoland area, if that helps.
I got into Oxford for PPE, and it would cost between 55-60K a year (rough estimate, could be lower) for three years.
Additionally, Northwestern's offered me a generous package. I'm currently in as an Econ major, but I want to apply for the MMSS program. Right now, their offer stands at 45K in financial aid for next year, and I expect a similar package my sophomore year, but junior year I want to go abroad for the entire year (which I expect will be pretty expensive) and I can predict that my family's improving economic situation will result in a drastically lowered package my senior year.
Thoughts? I'm especially concerned with career prospects after college and which school will offer the best opportunities to pay back my student debts.</p>
<p>Well, you’re looking at 180K for Oxford by your estimates for 3 years, so even with the uncertainty surrounding your eligibility for need-based F.A. at Northwestern, if I’m reading correctly your COA there would be about 15K your first year (60K-45K in f.a.). Even with the extra year and the possibility of your family’s financial aid eligibility changing, that’s an excellent deal for a Northwestern education. Many richer colleges allow students to use financial aid to study abroad. You might even be able to take a year at Oxford while potentially using Northwestern aid. Look into it.</p>
<p>Oxford could end up costing you 100K more. I don’t think the most wonderful school on the planet is worth that much if you would have to borrow the money to make it happen. Who is going to co-sign your loans?</p>
<p>Presumably if you are not a UK citizen you are not eligible for UK government grant support at Oxford, and you will be full-pay. Not the best situation if debt is a concern.</p>
<p>Oxford is legendary but obviously Northwestern is not chopped liver by any means. And it may be possible that recruitment opportunities at Northwestern will be better for domestic job purposes because most US companies aren’t going to bother recruiting abroad.</p>
<p>Paying 50 or 60k a year if your parents saved it for your education is one thing, but paying that out of debt is not viable. Anyone planning to do that has no grasp on reality.</p>
<p>Actually, Oxford comes in around $40K (there are some variables by college, but that’s a reasonable round number). Having said that, $120K of debt for undergraduate is just not worth it. Keep your powder dry for a year abroad (at Oxford, if you would like, as they have an arrangement with Northwestern). You will have plenty of opportunity to make opportunities for yourself in both places, and having low/no debt is huge. </p>
<p>My one issue is that I plan to spend junior year abroad and that my family’s income will increase where I doubt that I would get much (if any) financial aid for Northwestern after sophomore year, meaning that we have both a way to pay for the debt and a lack of package for the last year or two. Considering that Northwestern comes out to about 60K a year, I believe that my overall expenditures would come out to be more even than I previously thought.</p>