<p>I have been selected as one of five people in New Orleans to win the Tulane Mayoral Scholarship, which would give me full tuition to Tulane (Honors Program) for all four years. However, I've also been accepted to Dartmouth, an Ivy League school that is frequently ranked among the nation's best institutions and has a 10% acceptance rate. Therefore, I am faced with a conundrum. Should I go to Tulane Honors for significantly less, or should I pay a significant amount for an Ivy League education that may later prove to be advantageous? Many people are telling me to choose Tulane; but I am looking to go into business, making Dartmouth appear to be a sensible choice. Additionally, Dartmouth has offered me a little over half of their tuition (my family would contribute about $25,000 annually), while the Tulane scholarship does not cover the cost of room and board (about $10,000).</p>
<p>Is cost an issue for your family? Will your family be able to pay the 25k annually: would it be difficult, easy, have to take out loans?</p>
<p>Well, certainly having Dartmouth on your resume would be impressive. But just because you went to Dartmouth doesn’t guarantee anything in the business world today. My brother in law went to Dartmouth and is an investment banker who has been in and out of work for the last five years. And he is no slouch. My sister to whom he is married has an undergrad degree from Tulane. She has been gainfully employed without interruption since she began her career, AND she is also EXTREMELY well compensated. She did continue her education after a short stint in Washington, getting her MBA at the University of Michigan after obtaining her BSM from Tulane. I am just making the point that Dartmouth will not necessarily guarantee you a more successful career than Tulane.</p>
<p>Cost is an issue to be considered for my family. We would have to take out loans, but I am hoping that the Return on Investment would make it worthwhile.</p>
<p>Don’t have your parents take out loans. They can become debilitating. I’m sure your parents are proud of you and want to give you everything they can, but loans can ruin everyone’s future, yours and theirs. We live in uncertain times. Dartmouth with loans is a gamble. Tulane for free is not. Which one is smarter? Which one is magical thinking?</p>
<p>I have to agree with the full tuition group, even though I think Dartmouth is also a wonderful school. It one of a handful (and by that I mean ones I can count on one hand) that I thought would be perfect for my D. But like you she got full tuition to Tulane which made it an easy choice. Also, Tulane has some awesome business programs. But think of it this way. What if that extra $15K was put into a savings account every year and you had that $60K to start your career with? That would be a great thing, no? Not taking out the loans is pretty much the same. You would be much better off saving the money, doing really well at Tulane, getting started on your professional life, and then if you still wanted or saw value in it, getting your MBA at Harvard or Wharton or Dartmouth, etc.</p>
<p>Other than the money I would say Dartmouth, not only because of the nameplate but because I really believe in going to school away from home, when possible. But when you are talking about $60,000 savings and still going to a high quality school, I think you have to take Tulane.</p>
<p>As someone who got a great undergraduate education at Tulane and then went on to Harvard for grad school, I will tell you that someone of your caliber is going on to grad school anyway and grad school is more important than undergraduate for potential employers. I would figure out where you better fit in and also consider the degree to which money is an issue for you. If you think you’d fit in better at Dartmouth, and money is a minor issue, go Dartmouth. if the substantial difference in cost will have a real impact on your and your family’s finances, you can be rest assured that you will get a rigorous and enlightening education at Tulane. Of course, if you think you’d fit in better at Tulane, then there is no discussion. Congratulations on two great choices. Let us know which way you go.</p>
<p>I agree with everything you said, NJDad. I would be interested in your take on the “away from home” factor, if everything else were equal or nearly so.</p>
<p>On the “away from home” factor, I agree the it is generally better for one’s progression into adulthood to go to a college at a greater than easy driving distance from home. I can think of some circumstances in which it would be better for a student to live nearer to, or even at, home. However, parental desire, or a general angst about being away, are not circumstances justifying the loss of the experience of being away, in my humble opinion.</p>
<p>gentilly - what did you decide?</p>
<p>Thanks for the advice everyone! Of course it was a very close, difficult, and stressful decision; but I ended up choosing Dartmouth. I just couldn’t bring myself to waste that opportunity and be left wondering what would have happened if I had taken it for the rest of my life.</p>
<p>Congratulations. I am sure you will be very happy there, it is beautiful and a great school, and you will really be in a new place. Won’t be New Orleans weather, though! Best of luck.</p>
<p>Congratulations, Gentilly! We moved from New Orleans to Hanover just before my son, who is your age, was born. We love to say we moved from the deep south to the deep north. Hanover is a wonderful town - Hanover and Dartmouth are closely linked as you can guess. And Dartmouth is a wonderful school although as a Tulane alum, well, I’m a little biased. What do you think you’ll be majoring in - econ?</p>