<p>I posted a few weeks ago wondering where to pick. I can't find my old post, so here's a new one with updated info.</p>
<p>Oberlin gave me AMAZING financial aid. Seriously amazing. The difference between their aid & what it would cost me to attend is less than $2000/year. I was so happy, because I didn't expect to get aid anywhere near that great, and Oberlin is my favorite school.
The only problem is, I will graduate about $26,000 in debt (after 4 years) because of loans. If I go to the state school, I'll graduate $17,000 in debt (after 4 years). There was also I school that offered me a full ride. There is nothing wrong with this school, but it was my least-favorite of the ones I applied to.</p>
<p>So CC, in these final days before May 1, I ask for your advice: the school that's free but I didn't like, the expensive one I loved, or the the one that's medium in both respects (sort of a compromise)?</p>
<p>Is the debt for Oberlin only federal/Stafford loans? </p>
<p>Are any of your aid packages anywhere dependent on maintaining a certain GPA or staying in a certain major?</p>
<p>Does the aid package anywhere also include Federal Work Study, and if so, have you determined how challenging it would be to pin down a FWS job at that campus? And yes, it is OK to pick up the phone and call and ask!</p>
<p>Have you gone through the estimated Cost of Attendance at each institution with a fine-toothed comb to see where you could effect any savings? If not, look at transportation, books, housing/meal options, etc.</p>
<p>Do any of these offer you better immediate options for summer employment so that you can pick up more income in the summers and cover more of your expenses?</p>
<p>Over in the Financial Aid Forum, most of the cranky tight-wad parents would tell you that if your loan burden stays under the federal/Stafford maximum ($27,000 over four years), you should probably be able to make it work, and they’d most likely tell you that if you truly feel that Oberlin is your best fit, this is do-able. If you are pre-med or pre-law and need to do your level best to get out of college with no loans so that you have money saved for med school or law school, they would vote for the full-ride option.</p>
<p>Truly, all three of these look workable. Talk the money issues over with your family. If you like Oberlin best of all, it would be OK because this debt load is within the federal/Stafford margins.</p>
<p>Good luck with your decision, and best wishes for a fantastic four years wherever you do end up!</p>
<p>Oberlin’s the only one that included work-study with their financial aid. Ease/difficulty of finding a WS wasn’t something I’d considered–I may call them about that.</p>
<p>I’ve looked at things like the schools’ health insurance, books, and “other” expenses estimates & I think they’re about as low as I can get them right now.</p>
<p>The one thing I’m not sure about is post-grad plans. I’ve had people tell me I’d be a good lawyer, and I have a strong passion for certain issues, but talking in front of people makes me want to cry and tbh law school sounds pretty boring. To be completely honest I don’t know exactly what I want to do, but I’d like it to be something that helps people and that I can do/get started in with just a bachelor’s. I <em>love</em> writing though and always get straight A’s in my AP & honors humanities courses.</p>
<p>Speaking as a cranky, tight-wad parent, I would have reservations about going into $27K debt with an unknown major and career outcome. Certainly do not go into any more debt than that, and realize that if you decide you want to go into law, doing so with that debt to start is going to yield a rotten financial situation.</p>
<p>Also be aware that if you major in soft areas like humanities your income potential is not that great with just an undergraduate degree, so use great caution in racking up debt.</p>
<p>If I were you I would go pay that least favorite college a call, in person, and try to find things to like about it. Could you make a quick overnight visit? Sit in on a class, meet some professors, you know the drill. Make a list of everything that is ok to good. And see if it’s really all that bad on the ground, so to speak. With greater familiarity you might find it’s a better choice than you thought.</p>
<p>And do contact Oberlin about work study. Find out how many kids that have work study in their packages actually end up with jobs on campus. You need to know!</p>
<p>Hmm, good things to think about LizzieT. Thank you!</p>
<p>I wouldn’t call financial aid AMAZING if it means you will incur $27K in debt. I would suggest seriously considering the full ride option. Is the full ride based on merit? Will you be given special attention?</p>
<p>Otherwise I would go with the state school, but I would definitely cross Oberlin off the list.</p>