ASU is not so.much better than Fullerton that you should hock your life- and his. Don’t assume that after grad, he’ll live at home and pay it off pronto. Kids grow into their own lives. What if he wants to marry or is offered a great job far away?
CSUF with lots of local intern experience offers better long term prospects than massive debt for some OOS school. He can assess his transfer opps later.
Be wise.
What are his stats? If he goes to the local option, he will make friends who might consider a house share later down the road (once you are sure he is CSci material), maybe that is something you could discuss later. If he IS a Csci major he will get internships later that he can use to help pay for his rent. As it stands now, it seems that other options are irrational. It sucks to have this discussion now but way better than having it after paying OOS tuition. You can pull the plug on ASU. ASU kids will be whining about how it is a boring local school they have to commute to and wouldn’t it be great to live in California? 78% of ASU students are cited as commuting.
FYI…my brother got his CS degree from CSUFullerton and he’s a VP of a major corporation now. He later got his masters from USC. So this idea that CSUF isn’t good enough is just not true. CSUF has excellent eng’g and CS.
I can’t imagine paying all that extra money for “college experience”. ASU isn’t better than Fullerton for CS.
What are his stats?
And why does this parent think her paid off home affected her FAFSA? Did she accidentally put in her equity in some wrong place?
Having a paid off home has NO EFFECT on aid or FAFSA EFC. The schools in question are not CSS Profile schools. They’re FASFA only, so primary home’s value is not included.
Also… @ucbalumnus if an instate student is on a WL for a UC, can they still get into Merced? Is that an option? My memory is hazy with this.
Sounds like he could go away to school, and live at home after to work on paying off loans; or live at home now and not have loans and get to go wherever he wants after graduation. Either way he’s living at home at some point- why not do it now.
I know these kids want that college experience, and it stinks to have to tell them no. But college class time is about 32 months of his life vs. 10 years + of paying loans for it. Maybe at some point he can get an apartment with a roommate and work to pay rent…or save up for a study abroad experience. Then be free to live where he wants as a debt free college graduate.
You are not doing your son any favors by cosigning for a 50K loan for him. Full stop. That will be extremely life limiting come graduation time. Don’t count on future income. Students change major or course all the time. Look at a CC to transfer option. He will still graduate from a UC and no employer cares at that point.
Go read some threads over on reddit about graduates trying to pay off their debt and the level of regret they have. I think the 27K federal limit is ok for a financial stretch school if your kid wants to take that on and you sit down and punch the numbers on what that will look like over time. With UCs available I think the 2 year CC route is great.
Look into UCMerced: he may be eligible anyway, cheaper than ASUbut with campus life - it’s Residential- and roughly equivalent to ASU for CS (perhaps a bit less strong but marginally so - uC’s are strong universities overall and CS in California is very strong).
I have no idea what it means to be “better for CS.” My second child when to a school that’s not on anybody’s radar here at cc. Didn’t have to apply to be a CS major, open door policy if admitted to the school, so in terms of “better-worse” for CS, it’s probably in the “worse” category. Oh, and it’s in in rural midwest! So…graduated, got job with FANG company in SF, starting salary well above 60k…and absolutely no way she’d be able to handle a $700/month loan payment. None. If you can manage a $1500/mo loan payment for yourself, send the kid to ASU without a second thought, but if you can’t, please reconsider the local option of CSUFullerton. The college “experience” is what you make of it.
Just throwing another option out there. My daughter will be going to Santa Barbara City College and then later, hopefully, transferring into UCSB. There is a private dorm called Tropicana Gardens located just off UCSB’s campus in Isla Vista. Both SBCC and UCSB kids stay in this dorm. It gives the child a traditional dorm experience but without the enormous costs of a UC/private school. Dorm costs start around $15,000 a year and the tuition at city college is very reasonable. The kids can TAG into UCSB and have guaranteed acceptance provided they meet certain criteria. Generally, the kids stay in Trop for a year then move into off-campus housing within IV.
This has been a lifesaver for us because we are very debt adverse and want our daughter to graduate undergrad with little to no debt. My husband graduated from law school with about $120,000 in debt. His projected payments were more than what we made each month. We had to consolidate his loans and stretch them out for 30 years to make them affordable. We just now, 25 years after graduation, paid off his loans. We won’t do that to our daughter.
@GusGus5 and @WeeJavaDude: UCSB does not allow TAG for Engineering/CS majors so it may be a moot point. This student has an acceptance at CSU Fullerton so I agree that this would be the most affordable option. I also know someone with a Bachelor’s and Masters Degree in CS from CSUF and doing very well in their career. The best thing you can do for your son is have him graduate with no debt. He may not appreciate it now but he will later in life.
The choices on the table are commuting from CSUFullerton with no debt and going to ASU with a merit award that still leaves over a $100k for the 4 years that the OZp wants to close with debt. Student is on the wait list for UCSC but parent says living there will cost about the same as ASU, and so similar debt would be incurred. Basically, they cannot afford going away to college without borrowing.
Question is, is it worth the debt? That they could not save up enough to go away to a state school does raise the question of how will debt be repaid? I don’t think that much debt, $50k, is wise to place in a kid. Things happen in life to young adults so finances get tight. Doesn’t always work out as planned. I’m seeing a lot of my kids peers strapped with debt that is choking them
My son just bought his first new car with all the bells and whistles and just incurred his first longish term debt. He lives in a pretty nice apartment and is self sufficient. Friends who make more than he does are really struggling because they pay more than his car payment and full insurance, some a lot more to pay off school loans. Some have had to send back co-signed loan repayment obligations to parents who are not happy. We paid for his school loans but did so from the instant they were triggered on a 10 year plan, and trust me, it hurt. It took over 14 years to pay for his UG degree. He went through a lot of bumps in the road during this time but he has good credutvwhich gave him a lot of options he would not otherwise have had. He is not the poster child for things gone well at all. Not having school loans did make a difference.
Mine are struggling to pay the 27k amount. One has a great job with great pay, found a great apartment half the cost of other local options, great neighborhood. Lives with her similarly well employed fiance. But paying loans cuts severely into her monthly budget.
Give him a future not encumbered with huge loans. You never know what later problems can crop up. Or he gets the perfect job offer away from home.
I only believe in having debt over the standard $27K if the school is a Top20 school and even then it might not be worth it. Depends on the amount and the school.
My D19 had a decision of peer schools(not Top20) and one would cost $30-35K more for the 4 years than the other. She chose the cheaper school and should graduate with little to no debt. I think she will thank me later.
You could offer him incentives to stay home – car/travel/cash and still save $$$.
As many have captured above, this is a stupid idea and you and your son will regret heading down the $100k in student debt path. Fullerton is a great school with high job placements in So Cal, By no objective measure is ASU (other than sports I suppose) a ‘better’ CS program or college in general than CSUF. One thing i didn’t catch in the other posts - If you go the Plus loan route, you will be on the hook for the debt - come hell or high water. They aren’t discharged in bankruptcy. Sure, a HELOC can be discharged but, you gotta be willing to walk away from your ‘paid for’ house. I am sure having no house payment was part of your retirement plan so, tread carefully.
I know a few people who’d love to retire but, can’t because of a similar commitment - DON’T DO IT
@MYOS1634 - USNWR rates ASU #43, UC Santa Cruz at #58. There is no Cal State school in the top 120. So, ASU is better for CS. I have a DS who is a CS major at ASU. So, that’s my bias.
To those wondering about CalGrant, my guess is the student will not qualify. If he would , ASU would offer more assistance. I would add the ASU has a broad range of other scholarships available through the school. There is also plenty of work for students to earn some of the money. Even as a die-hard Sun Devil (MBA '12), I would be hard pressed to say $100k in loans is justified. I would also recommend the CC to get general ed credits at a lower cost, then transfer.
Why would ASU offer more aid to a Calgrant eligible student who is NOT an AZ resident? AZ does not meet full need for all accepted students…and OOS students have the additional OOS costs.
This kid can’t afford ASU without very substantial loans.
That’s not how CS works.
Hiring managers look at internships, portfolios, and classes taken when evaluating entry level candidates. For experienced candidates…speaking for myself, I’ve decided whether or not to contact someone for an interview before I ever get to the education section on their resume.
@thumper1 - I totally agree with your second point - hence, my recommendation that they look at a CC for gen ed. My assumption, most likely incorrect, was that CalGrant was need-based. If ASU does not offer need-based aid to OOS, that’s news to me, proving once again that you can’t trust everything you read on the internet.
None of my three kids qualified for any CalGrant aid at CSU or UC schools they were accepted to. That’s why UC’s were more expensive than ASU for my oldest. This is even as an OOS student. ASU aid met our EFC if you include the student loans. My DS was in Barrett, so he had good grades and stats. So, merit aid can help, if your child qualifies.
OP, you have to be the adult and just say no. With the $100,000 you will save, your Child will have a lot more flexibility and options. $100k is a huge burden for you and your kid. Just don’t do it.