The $ Challenge...

Colleges and Universities A-Z University of Michigan
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 the university that I am in love with... you guessed it... the University of Michigan, but I am getting ZERO aid there, and I am OOS. Therefore the cost of attending would be about $52,000, totaling to an a whopping $208,000... </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 a very manageable $47,400 for 4 years.</p>

<p>Trinity College, CT has offered me $46,000 in aid making the cost of attendance $45,000 for 4 years.</p>

<p>Somewhere in between the two extremes, University of Minnesota has given me some merit scholarships making the cost of attendance $105,000 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 loans, 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>Are your parents willing and able to sell off the property? The market isn’t exactly great right now…<br>
How much debt would you likely be in?</p>

3

<p>They can probably sell off the property, but I’d still be in about 50k of debt by the time I graduate…</p>

<p>More than where the difference comes from, I am trying to figure out if the difference (of 150k) is even worth it…</p>

4

<p>I would say that if your parents are forced to sell off assets and take loans, that is too much to ask. And no, for undergrad, $150K is not likely worth it. It is only potentially worth it if it is absolutely no financial burden.</p>

5

<p>Go to Clark or Trinity.</p>

6

<p>I agree with mom.</p>

7

<p>Way too much. Choose another option.</p>

8

<p>UMinn econ is a bit better than UM’s. Not really giving up anything in that regard.</p>

9

<p>Minnesota isn’t worth that additional expense over Clark or Trinity either.</p>

10

<p>Look at it this way, this is your first lesson in economics!</p>

11

<p>hahahaha!! Definitely a lesson in economics!!</p>

<p>If I was to recommend what to do to someone else, I would definitely tell them that going to Trinity was a wiser decision, but the amount of emotion involved in making such a decision for myself just makes the situation feel far more complicated than it really might be…</p>

<p>Let’s see what works out in the end… Thanks a lot for your advice!!</p>

12

<p>I think Trinity seems to be the best option if it is somewhere that you will fit.</p>