The $ Challenge...

Student Lounge International Students
1

<p>So I have got my university decisions, and have received my aid package from all the universities, but the decisions have left me confused. And as you all probably know, I have 12 days to decide. </p>

<p>The situation:</p>

<p>I got into one of my top choices, University of Michigan, but I am getting ZERO aid there. Therefore the cost of attending would be about 52,000 dollars an year, coming to over 1 crore rupees for the 4 years. </p>

<p>My safeties of the other hand have given me very generous aid offers:</p>

<p>Clark University, MA has offered me $38,100 making the cost of attendance 26 lakhs for 4 years.</p>

<p>Trinity College, CT has offered me $46,000 in aid making the cost of attendance 25 lakhs for 4 years.</p>

<p>A school in between the two, University of Minnesota has given me some merit scholarships making the cost of attendance 54 lakhs over 4 years.</p>

<p>Paying the UMich fees is not entirely impossible but isn't easy either. My parents would have to sell some property and take a loan, while the cost for attending the other universities can be met without any great difficulty. </p>

<p>Based purely on rankings UMich far exceeds all the other schools, and I love the atmosphere there too... but is it worth the money? </p>

<p>I am unable to decide on my own and any opinion that you guys could provide would help greatly!!</p>

<p>Also, I'm planning to do Economics if this information helps... </p>

<p>Thanks a lot in advance!!</p>

2

<p>I know some parents have debated ROI…but I think when you are putting so much money for education, ROI is important. </p>

<p>Go with the college with most aid. What are your future plans? Spending 1 crore for economics degree is just NOT worth it, again just my opinion. </p>

<p>Of course, if it were me, I would just do my undergrad for a fraction (almost free) cost in India and apply for Grad school. </p>

<p>Another question - Going to a low ranked (but with aid) in a US school vs going to a well known Indian undergrad school? For me the latter would be preferred. Again each to his own.</p>

3

<p>I understand your dilemma.I assume you are international so you must remember to add other expenses like ticket cost once or twice a year plus some colleges will tell you to empty out your room during the time colleges are closed for spring break or christmas and charge you extra for storage and many other hidden cost which you may not be aware of as of now.
Research all these choices you have thoroughly.Join their facebook/research through the internet/email the colleges that you got admiited to and get connected with a student presently studying there[maybe from your country itself]and talk to him/her over the phone and/or email and ask as many questions to him/her.
Also I know one would love to study at the BEST.Education is not about going to the best but education is about taking out the best from the college you are at.And one may feel one is going to be happiest at the best but many a times it’s not the case eventually.So weight everything realistically.Is it worth selling property and taking out a loan?Hope that was helpful.</p>

4

<p>I think you should accept the college with most aid because even if your parents sell a property and take a loan I don’t think it would be worth it… Getting into a college with scholarship is a big thing and you should accept that rather paying soo much money and screwing your parents life too… But this is what I think. Wish you luck on whatever you choose :)</p>

5

<p>The general consensus seems to be that going to a college with more aid is better… I guess I thought so too, but living in India, where most people have so much more regard for the brand names of elite colleges still makes the choice very difficult.</p>

<p>I’m trying to figure out if the extra amount (1 crore) is worth it in any way at all…</p>

<p>Thanks a lot for your help!!</p>

6

<p>@college2confused I work in higher education in the US and have many friends in the finance industry. I will agree with the other posters, but for different reasons. Trinity is a “little ivy” and has a very strong alumni network in New York, and, in fact, the entire Boston to DC corridor. A Trinity education may open many doors on Wall Street. Trinity is also, obviously, a small LAC. They will provide incredible support. While Michigan is an amazing university, they do not coddle students. If I were planning to begin study far from home in a new country, I would like to know that I could request personal attention when encountering problems. Trinity is your best option in terms of that kind of support. Since they also offered the most aid, I say go to Trinity.</p>

7

<p>@thirdelement: Thanks a lot for reassuring me! My choice right now is leaning towards trinity… UMich, though a great school, might not be worth an extra $150,000 and the money might be better spent on grad school. </p>

<p>Also, according to Wikipedia, Trinity is one of the top ‘feeder schools’ to graduate programs, so that might help later too.</p>

8

<p>Where you do undergrad is really not as important as some think. What you do with the resources there is more important. </p>

<p>Not worth it to spend so much money if it is a problem when you can get a comparable education at another place.
Being a big fish in a small pool is sometimes an advantage. Utilize all the resources at the place, and take the best classes, and you’ll have absolutely nothing to complain about. </p>

<p>Make sure that the school you choose is still well ranked even if not as well ranked as the best one though. The main goal should be to get a good education, not save the most money. Amity gives great scholarships, but it’s not worth it to choose to go there as opposed to say, Vellore Institute of Technology, right?</p>