Hello, everyone. First-time college confidential poster here. I have been very fortunate to have applied and been accepted to Cornell and Rutgers. Unfortunately, now I am faced with a tough situation deciding how much it’s worth attending each school. My family is middle class (household income of $105k). To attend Cornell, the cost would be around $25k (from their net price calculator). Rutgers is free for the College of Arts and Science since I was admitted to the Honors College. Majoring in engineering would cost $12k since I wasn’t admitted to the engineering honors college, but I would receive tuition remission since my dad is a professor at Rutgers. Engineering is my preferred major at the moment, but $12k a year is a lot of money and I’m not completely sure about engineering plus I am interested in several subjects such as computer science, pure physics, math, and econ which are all in the CAS at Rutgers. So my first question is should I major in engineering if Rutgers is the best choice (at Cornell I only applied and was admitted for MechE)? My other question is how much more are the more selective colleges worth? Especially since I’m not 100% certain I want to major in engineering is a top school with more breadth more attractive? In your opinion, is the difference in average salary actually due to the recruiting connections, alumni network, and prestige that exists at top schools or just from smart students that could succeed anywhere? Is that worth the $13k a year more? I have also applied to some other top schools with strong engineering programs such as Stanford, Rice, and Princeton. All those schools gave me a more generous NPC estimate, but I haven’t heard back from those schools yet and I know it’s a long shot, as was Cornell. Those school’s estimates came out to around $15k. Would that definitely be worth the opportunity over Rutgers if I got in? Basically, what do you think is more or less a reasonable cutoff price? Thank you in advance for any advice.
Note: I know fit is important and I feel that a more selective school would be a better academic fit for me, but like I said, my dad works at Rutgers so I’ve spent tons of time on campus and think I could adjust there. So for the purpose of this question please analyze mainly from a money/ROI standpoint.
I understand your question as it pertains to ROI, but a notably significant factor in your decision would seem to be that your potential academic interests lead directly to Cornell’s nationally-recognized strengths in fields such engineering, physics, math and economics. Provided you would have the option of taking significant coursework at CAS, Cornell would seem to be a top academic fit for you.
I’d wait on all your other decisions before asking. A difference of 3k/yr is very different from one of 13k/yr. Would any of these options require you to take out loans?
I’d wait until you hear back from the other 3. It absolutely is worth $12K extra for Stanford, Rice or Princeton over Rutgers so that should be an easy decision. In the mean time I’d discuss finances with your parents. Would they be willing to pay for $100K vs $50K for Cornell? How much would you need to take in loans?
I would be inclined to choose Cornell between the two. But you should consider taking the maximum amount of federal loans so you provide a minimal burden for your parents. I think Cornell’s stronger reputation in engineering will help you with summer internships and research, and placement should be better, and the financial burden would not be horrible for an engineer’s salary.
@merething Yes, Cornell’s NPC estimated $5,000 a year in loans. However, their expected family contribution in our opinion was a bit high so the loan amount may be higher. And yeah, I understand I don’t have all the details yet, but I’m just a bit anxious because I never expected to get into any school besides Rutgers and now all of a sudden I’m anxious from the difficult decision haha.
@TooOld4School As I said, my dad is a professor at Rutgers so for most of life we knew Rutgers would at most cost $12k so that was always THE school I was going to go to. So, up until a few months ago we never even entertained the idea of going to other schools. My dad doesn’t have a lot saved up for retirement and he hasn’t done that much research on schools so in his eyes the cheaper the better and he opposes any school besides Stanford, Princeton, and MIT (which I was rejected from). That’s why I thought some evidence on post-graduation earnings/ROI could convince him that there are other options especially since we qualify for a lot of aid at some schools that are phenomenal just not HYPSM.
You may want to bring it to your father’s attention that Cornell ranks (#9 in USNWR) a little higher in its undergraduate engineering category than Princeton (#11), and much higher than Rutgers (#53).
NJ/NY is a very high tax state, so I would consider the list and normalize it for regional differences. Your actual living standard in , say , Indianapolis, is going to to be a lot higher even on a $10K lower salary for an engineer. That would apply to any of the schools on the coasts or Chicago. Schools tend to place their students regionally.
You also have some options to relieve the burden including co-signed loans which you will pay back, ROTC, summer jobs and internships, etc. if you think Cornell would be a better fit for you.