<p>Hello everyone, I am an incoming student at Middlebury for the class of 2018 and when I was first accepted I couldn't have been more excited. In fact Midd has been my "dream school" for quite some time. However, now that I am thinking about my education and the loans that I will inevitably have to take out (which are rather large in my opinion) I am starting to consider transferring to an instate public school with lower costs or another school with a better possibility for increased financial aid (which may be unlikely or extremely competitive). So my question is for students, parents, alumni, or anyone else with an affiliation to the college, what is the true value of a Middlebury education? Or rather, how much debt is "too much" for Middlebury?. Now I know that there are a few stipulations with the idea that education being "what you make of it" in regards to cost but still, at some point there has to a financial limit to this. Also, considering the college, this answer probably varies from major to major so I will say now that I am considering either being a double foreign language major or majoring in a language and a second field such as economics or political science. </p>
<p>
</p>
<p>Oh boy, please do NOT major in foreign language ONLY. If so, financially speaking, your Middlebury education will not be worth it in a big way. </p>
<p>Being about to speak multiple foreign languages, in itself, is not a big deal. Many, many, many people around the world (small children included) do this automatically and chew gum at the same time. </p>
<p>I personally think that ABSOLUTELY NO undergrad school is worth going deeply into debt. </p>
<p>The value of a Middlebury education is that you learn to think critically and creatively and analytically. What you do with those skills is up to you and there are no limits. So, it’s a combination of the strong education and the individual who gets the education that determine the value. </p>
<p>Having second thoughts about acquiring large debt is a GOOD thing. Please think carefully and deeply about this some more. Our Val was accepted into Middlebury and all her top choices but opted to go to our in-state flagship with no debt, as she wanted to attend med school. It was an excellent choice for her and she completed her BS and some post grad work, and was accepted at Mayo Rochester, where her first year of med school was totally free. She and her family was happy she graduated debt free and is now pursuing her MD degree.</p>
<p>
</p>
<p>Middlebury does not have a monopoly on teaching these skills. They can be very effectively acquired elsewhere without going deeply into debt. Other cheaper schools have nice scenery, too.</p>
<p>If you have ambitions of continuing on to grad school or professional school, then going deeply into debt for undergrad school makes even less sense.</p>
<p>Are your parent(s) helping with your education? What is your EFC? Students loans offered as part of Middlebury’s financial aid package are capped at $3,000/year, correct? </p>
<p>No one can tell you what your education is worth–it’s up to you. Will Middlebury open some doors that others may not? Perhaps. So will many other schools though. Middlebury was just named a “Best Value” school by PR. It’s also #16 on USNWR’s list of best value LACs. </p>
<p>Arcadia, I always appreciate your posts. I think you try to present a balanced viewpoint. Unfortunately, there is no cap on loans at Midd. My son’s FA includes $9500 in loans for this year alone.</p>
<p>To the OP…we are struggling with the same dilemma. Our conclusion is to give it a try and see what this semester or full year brings. Really evaluate the quality of the classes, internship placement, study abroad opportunities as it pertains to my son’s goals, and see if it lives up to our expectations and the sacrifices we will make as a family to afford this school.</p>
<p>Mkayak,</p>
<p>I’m sure you do have that much in loans, but it doesn’t match what the Midd financial aid site indicates. There, it states clearly that the max loan package is $3,000 per year (and it’s less for families with less than $80k in annual income). I’m curious if you have any understanding of why there is this discrepancy. Again, I’m not doubting your facts – just curious as there’s a big difference being $38k in debt after 4 years ($9.5k per year) or $12k ($3k per yesr). </p>
<p>GMTplus7, I agree, Middlebury does not have a monopoly on teaching those skills. MIT does not have a monopoly on teaching science and engineering skills, JHU does not have a monopoly on teaching medical skills, Williams does not have a monopoly on teaching art history . . . well, you get the point (I hope). You can be taught most things at most places, but that’s the point isn’t it? I mean, you choose these particular schools because they do something better than many of the others. Teaching independent thought is a hallmark of a school like Middlebury. It’s a hallmark of most of the top schools in the country. But, within that group, Middlebury doesn’t have a monopoly on charging a lot for a quality education either. </p>
<p>With the job market as tight as it currently is, a lot of students are going to grad school. Middlebury will certainly offer you a leg up when it comes to getting accepted at the grad school of your choice. It makes even less sense to spend a lot on grad school when it’s not going to help you get into the field you desire or get you the salary you need. </p>
<p>^^^^</p>
<p>Yeah, Midd might not have a monopoly on teaching those or other classes, but it offers an elite undergraduate education:</p>
<p>Top-10 among LACs and probably top-30 overall.</p>
<p>Depends. How much debt are we talking about here? I think it is wise of you to recognize that you want to avoid debt which has been the downfall of otherwise successful college students. However, some college debt is normal, and even expected at this level of education.</p>
<p>Languages and the fields you mentioned can and should be taught at almost any instate public. However, I do know that Middlebury is exceptional in teaching those subjects, as it is one of the first mentioned among these boards when looking for schools strong in languages. How much is the education worth to you, should be the question? My friend, although accepted to Middleburry, with the same interests as you, eventually decided to attend our state flagship because she wanted to avoid the debt.</p>
<p>Best of luck in your decision</p>
<p>This is very much an individual and family issue. Students are limited in what they can borrow in their own name to Direct Loan and Perkins maximus. From what I can see, fin aid packages limit loans to $3K for students or thereabouts. So once the Direct Loan entitlements are exhausted, a student has to involve a parent (PLUS) or other credit worthy adult to take on the loans as well. So the question becomes whether this is something that the family can handle. If a family is already in dire financial straits, it is insane, IMO, for them to take on more loans, and to expect a teenager to take on the commitment of paying back large loan amounts. So this is something a family needs to discuss.</p>
<p>It was with heavy heart, and a lot of stress, that some parents I know, decided to tell their kids that they had miscalculated, that the finances were not panning out as expected, and the “dream” college was turning into a financial nightmare, and yes, some of them had to transfer to state, local, less expensive school. If they were living at a local school, had to maybe commute. This is a reality that comes to be each year. But there is no one measuring stick to say when this point occurs. </p>
<p>The importance of being fluent in multiple languages can be seen in the increasingly global economy. </p>
<p>And if the OP ever wanted to go into State or CIA-type positions… languages also help there.</p>
<p>So to downplay the importance of multilingualism is questionable, IMO.</p>
<p>That said, if you are going to major in a foreign language, it might be a good idea to minor in, or add a double-major in, a more “practical” discipline… like Econ, Business Admin, Engineering, Psychology, Sociology, etc.</p>
<p>chs1980…For a sophomore, max Stafford is $6500, plus $3000 Perkins. Midd’s calculation of EFC was 10K higher than the FAFSA. So while they met “need”, majority was loans & work/study. </p>
<p>I work overseas now and and have worked professionally in several non-English speaking countries. Int’l business is conducted in ENGLISH. This goes for consular people, too. I have many UN and US State Dept friends who have worked all over the world, but don’t speak the local language. People who can speak multiple foreign languages, but have no professional skills are a dime a dozen. My friend the regional UN chief in the part of the world I am now, gave me advice for helping my son w a UN career: get a technical skill first, then come see us. Similar advice from my US embassy friends.</p>
<p>Employers want a skills expertise foremost. Proficiency in a second language is a nice-to-have, but not essential. My company hires translators all the time. The ones who only know the language are cheap and disposable. The ones who also are experienced engineers, investment bankers, lawyers, doctors are worth their weight in gold. </p>
<p>GMT, that is fine, but we (the US) need people who can blend in with the locals. And you cannot do that if you are extralinguistically dumb.</p>
<p>So I guess our best and brightest are in CIA SAD, Delta, DEVGRU, etc… able to speak with the locals where they are operating.</p>
<p>If that is the case, fick, I need to join the diplomatic corps. If you are right and our top folks overseas cannot converse colloquially, that is f’ing sad. Guess I need to join CIA…</p>
<p>Mkayak–there’s the discrepancy–between Midd’s estimated EFC and FAFSA. This doesn’t happen to everyone, but it does happen when things are somewhat more complicated financially. I do wonder what the EFC is for the OP, and what his family is contributing. </p>
<p>Wow, this post has gone through a lot since yesterday, actually I appreciate the input please keep the feedback coming!
To throw in a few numbers, im looking into about 40,000 dollars minimum in debt unless I can find a way to curb that with money saved from summer work or other ways. My familys EFC is about 33,000 but my parents are only willing to pay up to 100,000 total in educational costs for 4 years. With my institutional grant it looks like ill be paying on my own through loans for the last year entirely in terms of tuition and expenses. However my parents are the ones pushing me to take out the loans and continue with Midd. I am the one hesitant to do so and be more realistic with cost and the finances of the education.</p>
<p>Its funny that some.would mention state department and three letter agency jobs like the CIA because those are ones i am heavily interested in.</p>
<p>I’m glad to hear there are others struggling with this same problem (although i apologize for the burden it places on your families). If there are any other opinions PLEASE voice them or message me personally if you feel the desire to discuss them outside of the forum.</p>
<p>@prez,
I did not say don’t learn a foreign language. I said, to be employable u need something else in addition. </p>
<p>To the OP…really take a look at the financial aid loan calculators to get a good picture of what your payments will be. The max. $27K in Staffords will be about $310/month for 10 yrs. repayment. That might be possible to handle if you end up working and living in a city and not needing to make a car payment. For the other $13K you need, that would be $3250 per college summer in job earnings, if you save everything you make. So, as you mentioned, it may be possible to afford Midd…but will it be worth it?</p>