Should i SACRIFICE my dream school?

Parent Cafe
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<p>ok so heres my dilemma, </p>

<p>I was accepted to American University, MY DREAM SCHOOL in DC but money is of course, a problem. Mills College, an all women school in California, gave me the most money of all the colleges i was accepted to. So my choice is between those 2 colleges. </p>

<p>Here's the breakdown</p>

<p>EFC: $8000</p>

<p>AMERICAN
Total Cost of tuition: $47,601
Total Award: $21,650
Subsidized Loans: $3,000
Work Study: $2,000
Aid Gap: ~$18,000</p>

<p>MILLS
Total Cost of Tuition: $49,760
Total Award: $34,570
Mills Loan: $1,500
Subsidized Loan: $3,500
Work Study: 3,000
Aid Gap: ~$7,000</p>

<p>Its been a dream of mine to study International Relations in DC but doing so would put a large burden on my parents and myself. If i chose to go mills, i'd be enrolled in an all women's college which is something i'm not too fond of, but i could prolly live with...i mean they're both great schools...ahh i'm in desperate need of opinions. especially a parents opinion! </p>

<p>HELP!</p>

2

<p>Go to Mills, it is a good school and the finances can be managed.</p>

3

<p>I had no idea those two schools were that expensive. Not surprising. Anyway, perhaps you could share a little more about your feelings towards Mills. Is it a distant second for you? Would you lack excitement if it became your choice?</p>

4

<p>Remember with a Work Study, you aren't given that amount of money. It is only suggested that is the amount you could earn. In other words, the work study isn't money taken automatically off tuition fees, if you work the maximum the University allows, that is what you could expect to earn ( a best case scenario). </p>

<p>Either schools, you have received some great awards. It might be worth looking into how much both schools have increased tuition over the past several years, tuition increases can make a good deal not so good .</p>

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<p>I'm from Hawaii--so going to Mills in CA is certainly not a problem for me. But i'm absolutely in love with Washington DC. After working at the capitol as page, I knew i had to come back to DC for school; I mean it just felt right being there. As for Mills though, my parents personally don't really want me to go to an all women college. Socially, it shouldn't be too much of a hassle i guess. I have a lot of friends in the Bay Area, but just the idea of attending an all women college kinda scares me. My parents are very supportive of me going to DC but the money is just a really big factor. If they decided to send me to DC, they have to put up our house for a loan so we're in tight a bind right now..</p>

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<p>What about attending college for 1-2 years then transferring to your dream school?</p>

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<p>its a possibility but I have this thing about living out the traditional college experience. Just a personal preference, but an option nonetheless, i'll ask my parents about it.</p>

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<p>
[quote]

But i'm absolutely in love with Washington DC. After working at the capitol as page, I knew i had to come back to DC for school; I mean it just felt right being there. As for Mills though, my parents personally don't really want me to go to an all women college.

[/quote]

Then go DC. It is roughly $40k difference in 4 years. You could take loan from your parents, just pay them back. What's your intended majore? In political sience? Then it should have more oppertunities in DC. You might even find some interesting job during school year help pay off the extra $10k cost.</p>

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<p>What are the chances you could (maybe starting second year) do some other things to reduce the cost at AU - such as Resident Advisor to maybe defray room and/or board costs?</p>

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<p>Can you talk to the financial aide office at AU and see if they will reconsider your package? Could you get extra work over the summer to help offset the cost? Personally, for what you want to study and the things you're interested in, I think your very best opportunities are going to be in D.C., however I don't know anything about Mills...</p>

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<p>you need to look at your cost over four years -- including any gap amount, EFC and loans/work-study. that is the money you will pay.</p>

<p>From what you provided above -- </p>

<p>American will cost you more than $123,000 over four years</p>

<p>Mills will cost you more than $92,000 over four years.</p>

<p>To me -- neither are good financial choices unless you can keep your loans to under $20,000 for the four years. </p>

<p>If you borrow $20,000 over four years, earn $2500/yr for four years ($10,000) doing work-study, earn $3500/summer for four years ($14,000), and get the same basic FA with little increase in cost of attendance -- your parents will need to pay ~ $20,000 a year for American and ~$12,000 a year for you to attend Mills.</p>

<p>Talk with them and see what they are willing to pay.</p>

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<p>thanx for the feedback guys! i'll definitely show this thread to my parents. i'm open to more suggestions ^_^</p>

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<p>What you didn't count at American is that, besides work-study, many students have paid internships beginning in their first year. This could also lead to better paid summer employment, which is fairly common in DC among students who have been interning during the year.</p>

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<p>Mills is an underrated, but great school. Beautiful campus, very friendly staff and students. My mom met a professor from Berkeley who claims that it's as good as Dartmouth and Vassar, though it flies under the radar (obviously I have no data to back this up, just an opinionated Cal professor whose name I don't remember). </p>

<p>And, they have a Washington DC semester program at American University. So you'd still be able to spend some time there. </p>

<p>I'm biased though-- Mills has been really nice to me, and I may end up there next year if I can't convince my top school to give me more money.</p>

<p>Anyway, good luck making your decision!</p>

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<p>I definitely have a soft spot for kids in your position. I was there last year--dream school, or more financially sound school? I chose the latter.</p>

<p>To me, getting into my dream school (UVA) was huge validation for my high school career. Turning down my dream to go to my safety was so hard for me to do that I actually made my mom fill out the "no" reply to my acceptance offer. At least I knew that I did it--I worked hard enough to get into one of the hardest schools out there. Sometimes I regret it, but I really try not to.</p>

<p>I understand that your situation is different because you want to study international relations which is obviously awesome in DC, but I would still encourage you to explore all your options at each school. If you can't make AU work out for undergrad, would it be a possibility for grad school? You could even start a high interest savings account/CD now with the money you're saving by going to Mills so you can have something to apply to your grad/Master's education.</p>

<p>Bottom line: you did it! And you know what, you are going to go far, make a difference, and have an amazing time regardless of the institution that you choose. Do whatever you can to make your dream work--exhaust your resources--but if you can't make it happen, realize that you will achieve tons more at Mills than you probably want to admit. </p>

<p>GOOD LUCK! -Kristin</p>

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<p>Given the difference in total cost between the two, I'd choose the dream school. You can find ways to reduce the cost....the most significant one trying to secure a position as an RA in the dorms sophomore year and beyond. That alone will help close the gap significantly. Also, the paid internship options in DC will help both in earning more cash AND your resume.</p>

<p>Also, one more thing to consider is that the Stafford loan amounts available to you increase as you become a sophomore and up. The $8k gap per year as analyzed by hsmomstef is a gap you CAN overcome and worth it if you truly love American. Additionally, I'd contact FA and tell them exactly what you got from Mills, state unequivocally you would attend American if they can modify your package somewhat. You never know what you might get, just be asking.</p>

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<p>
[quote]

Also, the paid internship options in DC will help both in earning more cash AND your resume.

[/quote]

That's a HUGE plus to chose AU in D.C. That's what oppertunities I talked about.</p>

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<p>I’m a little confused about your situation, so I want to ask some follow up questions.</p>

<p>When you say “total award” – does that mean grant + loan + work study, or is that the grant amount, with the loans and work study on top of that?</p>

<p>If the later is true, then your math is not accurate – the gap at American is $20,951 compared to $7200 at Mills. However, Mills is asking you to take out $5000 in loans, which on paper at least is more than the $3000 at American, and expecting you to earn more during the school year.</p>

<p>While I typically agree with parents that you should keep your college costs down, I do think your opportunities at American, given your academic interests, may exceed those at Mills. Granted, I know nothing about Mills. </p>

<p>You really need to have a heart-to-heart with your parents and figure out how much they are willing to spend and borrow. Can they meet their $8000 EFC? Can they take out a PLUS loan and handle it without difficulty? </p>

<p>And, you need to consider how much money you personally can contribute. How much can you earn in the summer? How many hours do you want to work during the school year? </p>

<p>People disagree about what a reasonable loan amount for a student is. The Mills package means you’d have loans of about $20,000 after graduating. Other parents could comment better than I about that amount – I don’t think that’s excessive though. You could have the same loan amount at American. I think going much higher than $20,000 would be foolish.</p>

<p>Also, don’t forget to factor in the cost of travel. Getting to and from Hawaii will be expensive – and definitely more difficult to do from DC than from California.</p>

<p>My inclination is to try to see if you can make it work at American. But only do it if you are not saddling yourself with huge loans.</p>

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<p>Is there an option of spending a year in DC, either via Mills or through an independent program? Have you talked to professors and students at Mills to find what happens to students with your interests? </p>

<p>You don't mention your post-degree plans. I'd guess that you are aiming towards a job within the beltway. If that would be paid employment, that's one thing. If for your chosen career path an unpaid or extremely low-paid internship is typical, then doing that and making payments on your college loans is going to limit your options.</p>

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<p>Don’t worry, wherever you decide to go will end up being the right choice for you.</p>