I’m at a crossroads here. My parents said they will pay for four years at a private institution and leave me debt free. However, I am fortunate in that I am a Virginian resident too. I have great schools like UVA, W&M, VT, which would dramatically reduce the financial burden on my parents. If I get into Vanderbilt, Rice, or Washington & Lee without any scholarship money, should I go to one of those schools or UVA/VT instead? Feel free to answer this question with a moral basis or with statistics. I’m interested in pursing CS if that helps.
I think it depends a lot on how big a financial burden your private education will be for your parents - we don’t know how much they can really afford. However, there are only a few schools I would accept over instate UVA tuition (but I don’t know anything about CS).
Ask yourself this: Are you comfortable with letting your parents pay for private institutions? Think about how much they earn, and how much of it you’re taking away. And personally, I don’t like to look at the money itself, but what that money can buy - so what materialistic items would your parents not be able to afford if they paid for your education at a private university. Think about whether paying that much for private schools is worth it for you (for other people, it may or may not be worth it, but you have to come up with an answer for yourself).
Please don’t think that I’m trying to lead you into in-state schools; I’m just trying to pose some serious questions so that you can deduce an answer yourself. Hope it all works out!
Ask your parents to give you the money that you will saved by attending UVA, etc.
Are your parents very affluent with a high income and lots of savings?
Is their retirement fully funded?
As a CS major, you won’t earn more just because you went to a pricier school.
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B. I can go to UVA, which is in-state so $11k annually, and study engineering/pre-med. My parents will also pay for Medical School after.
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Is this still a consideration?
I used to live in Nashville with many social and professional connections to Vandy – so take this with a grain of salt. But honestly, even if price was NOT a factor, I think W&M looks as good as Vanderbilt on paper. There are other considerations of course - you may like the vibe at Vandy better and that could sway it in their favor. But if you are asking about reputation, I do not think Vandy is worth it, and Rice and Wasington & Lee even less so.
I know of a very successful UVA student in CS went to GTech for a MS, though. Bought a flat in a Edwardian in SF in her mid 20’s. I think it is an issue to consider if your parents already have enough money for retirement or not.
My son was accepted to W and M and chose Vanderbilt, his dream school and is very happy and doing well. That said, his best friend chose UVa (his mother’s alma mater) over Vandy. Furthermore, if we were Virginia state residents we might have persuaded our son to either attend W and M–also would have encouraged UVa application. So for Va resident would recommend UVa as #1 and if finances are not an issue Vanderbilt #2 (or if finances are tight W and M)
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Back when my D was making her college decision, she had it narrowed down to two schools and was having a hard time deciding between them. One had offered substantial merit aid and would be about $150,000 less than the other over the course of 4 years. My husband and I could afford, and were prepared, to pay for either, but I told her that if the schools were so close that it was a tough decision for her, she really needed to consider whether the pricier school was worth $150,000 more to her. She either preferred the less expensive school or decided the other wasn’t worth the extra money (I never asked), because she chose the school that offered the merit scholarship.
I would suggest you do a similar analysis. If your parents have offered to pay for an expensive private school, I think you can assume they’re willing to do it and will be fine with you making the more expensive choice. However, I think you owe it to them to at least consider whether the more expensive school is worth it TO YOU. Pretend it was your money - would YOU pay it? FWIW, you are absolutely right that you have some fantastic in-state choices. Good luck with your decision.
I know two young people who are now very successful with computer science careers. Both in-state in Virginia. They did both go on to get PhDs after undergrad. One went to William and Mary, the other to UVA. (And they are married to each other!)
You aren’t into any of them… apply and see what your choices are then.
I agree with @intparent , wait until you get into each school to decide.
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have great schools like UVA, W&M, VT, which would dramatically reduce the financial burden on my parents. If I get into Vanderbilt, Rice, or Washington & Lee without any scholarship money,
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Unless your parents are literally rolling in the bucks (won’t miss $250k at all), with the quality of your instate choices, it seems wasteful to spend on Vandy, Rice, etc…particularly for a CS degree (or to be premed as you mentioned in another thread).
Rest assured, that when you’d be applying for CS jobs, the companies will pay a VT grad the same as a Vandy grad. And med schools won’t care either way, as well.
The money that your parents save, can be used for their retirement (if not well-funded), med school, or a down payment on your future home.
Our son is in a similar position . . . we want him to have some “skin” in the game and ask himself whether he would spend some of his OWN money on a particular choice.
In our minds there are very few schools (MIT, Stanford, Carnegie Mellon, possibly GT) that are worth the cost of full pay for a CS degree.
And yes, you are very blessed to be in-state in VA.