Reed vs. UT Austin

Colleges and Universities A-Z Reed College
1

Hi everyone,

Senior from Texas here, looking to major in physics or math and get a PhD. Like many of you, I recently heard back from Reed, and I made it in! I just received a financial offer today (perhaps again like many of you), and it is, overall, a good offer and what my family and I were expecting. Because of this, I’ve narrowed down my options to Reed and UT Austin.

I realize that I’ll need to consider the pros and cons of a LAC and state school seriously, but for right now, I tend to prefer Reed’s smaller size and discussion-based classes. I do plan to visit both schools again before making the final decision. I also tend to like Reed in many ways more than UT Austin (culture, thesis, academics, etc…), and the main thing that’s holding me back right now is the finances, which is what I wanted to ask you all about.

Essentially, the cost for my parents will be roughly the same at Reed or UT. Based on the info I received today, my results will likely be $8k saved after UT and $3k to $7k in debt after Reed (there are a lot of subtleties due to a weird financial picture on my end - which applying for need based aid does not make easier :slight_smile: - but this is the end result from looking at all the Reed FA stipulations online). So, based on this, a few questions:

  1. How hard would it be to pay off $3k to $7k while in grad school? What if I got a job afterwards (e.g., IT or finance) instead of grad school?
  2. Would $8k be a significant "cushion" for grad school, or would I make up that difference fairly quickly? Same as above, what if I got a job afterwards?
  3. Are there any factors that I should consider apart from what's on Reed's financial package that will potentially increase the cost of attendance?
  4. Given that I prefer Reed over UT but that UT has a better financial deal for me, are there any factors that I'm overlooking which make this a clear cut case for one school over the other?

Thanks for any help you can offer!

2

This is not a factor that will make for a clear cut case, but you might consider the logistical cost of attending a distant school versus the cost of attending a nearby school (assuming Austin is within a few hours from your home).

  • transportation costs: Multiply by the number of trips. Will you return home over breaks?
  • room/board during school breaks when you want or need to stay on campus: Many schools close dorms over certain breaks, but sell supplemental room/board packages for international students and others who can’t afford to travel. Would you need to take advantage of that, and what would it cost?
3

I would say the same as @textbooked. Reed gave me enough financial aid to actually make it the cheaper option over my local state flagship. However the fact that I am moving across the country (from NJ) to go to Reed, rather than living at home and attending Rutgers, will likely even out the costs. So I not only have to factor in transportation, but also the cost of establishing my life out west. I anticipate a few trips to Ikea and Target once I move out there, as well as mundanities like doctor visits. Don’t forget the small expenses because they do add up.

Like you I prefer the LAC style of learning with smaller classes, so I think my decision to go to Reed is worth it. However your case is different than mine, so I seriously implore that you talk it out with your parents. Do the overall benefits outweigh the costs? Good luck.

4

“Would $8k be a significant “cushion” for grad school” means what? The grad school would pay you (albeit starving student wages) to get a PhD (you would work at the school). If a PhD is your goal, you might want to choose the school that you think would provide the best chance of preparing you for it, ignoring the small difference in cost.

5

With UT, if you plan to go into business or IT, unless you’re already in the program, you have a 10% chance of getting in. If you’re in that situation, you’ll probably end up transferring to Texas State.

As far as graduate school, as long as you’re enrolled in at least 6 hours, your loans will be deferred just like your undergraduate. Trust me, $7,000 is REALLY GOOD! I came out of graduate school with $50,000 in student loans.

Also, if you’re majoring in IT, it won’t really matter where you go to school because your degree will be employable, even if it’s a LAC.

6

Thanks everyone for your replies so far!

@textbooked: I have considered transportation, but not the possible dorm supplemental costs. Thanks for pointing that out!

For anyone else who might be interested, I found that the fee for housing during winter break is a flat $250, or on a sliding scale if $250 can’t be paid. Couldn’t find information for spring break or Thanksgiving, but I’d assume they’d be lower if they charge a fee at all.

EDIT: Residence halls are open over spring break and fall break, per the website.

@caszim77: I’ll definitely be talking this over with my family immensely, as this is certainly a huge decision. Thanks for reminding me about the small costs. By the way, if it helps your planning, I found what the Reed dorms come with (per their website):

“Bed, dresser, wardrobe or closet, desk, chair, and bookshelf.”

So this might mean more or less incidental costs for moving in, depending on what you were planning.

@vonlost: I was mostly asking about for emergencies or just a basic fund before starting grad school, as I heard elsewhere it can be nice to have a financial “cushion” before starting grad school due to the minimal PhD stipends. In other words, I was asking whether $8k would make much of a difference or if grad student stipends would quickly fill the gap. But based on your calling $8k vs. --$7k a small difference, I’m guessing you mean that in the long run, the financial picture is roughly the same for either option?

@coolguy40: Thanks for the direct statement on the “smallness” of $7k! Obviously, I’m not used to considering thousands of dollars to be “small,” but I’m starting to learn a whole new reference frame with college prices :slight_smile:

Also, one clarification: I plan to major in physics or math wherever I go, and the only reason why I offered the jobs of IT/Finance was because they are fairly typical industry prospects if I don’t make it into a good grad program. CS at UT and McCombs (business) are definitely a reach for me, so I don’t plan on pursuing either of those if I go there. This is actually another reason why Reed is more appealing to me than UT, because if I decide I’m interested in CS, I could take classes in the theory if I wanted to, without having to fight the pack like at UT.

7

Financial impact is not significant enough to affect your choice.

Visit both & you should know as they have very different environments.

8

I mean this financial issue shouldn’t determine your long-term plans.

9

Makes sense, thanks @vonlost!

10

$10k-$15k is not a big enough difference to make it the deciding factor, unless the schools are dead even in your mind. If they were even, the play would be to keep the money and choose UT.

But that does not appear to be the case, so if I were you, I’d go with the superior fit and choose Reed.