<p>I'm a junior transfer from CA, and I recently got admitted to both the University of Michigan and the University of Miami. I had my hopes set on attending Umich, but I recently received my financial aid offer, and being an out of state student, I only received $22,000 out of the approximately $51,000 needed to attend. I'm not sure how much aid I will receive from Miami, but because it's a private institution and because I am technically a very "needy" student, I think the amount of aid should cover a greater percentage of my total cost (than Michigan's offer). Though my single mother believes we can work it out (take loans etc) and that I should attend the better school, I really don't want to place the extra financial burden on her, and have begun to wonder if Michigan is really worth the cost. </p>
<p>I know U-mich has a better reputation overall, and better econ/public policy programs than Miami, but I am curious whether the extra cost is really worth the difference in academic reputation. Miami has always had sort of a mixed reputation, but it seems like its becoming a more respected University over the last few years.</p>
<p>Would love your advice, thanks.</p>
<p>(will update financial aid offer from Miami when possible)</p>
<p>Whether the reputation is worth it depends. If you plan to go on to professional school or graduate school then no, because Universities place virtually no weight on the name of your school (as long as it is accredited), with your acceptance being determined by your gpa and your test grades (GRE, MCAT, LSAT)</p>
<p>If your are planning to enter the workforce straight after school the it depends. From what I have heard the name on your degree matters a fair amount to employers for a few years after university when applying to entry level jobs. However after a few years it becomes fairly irrelevant to your prospects since the determining factor is working experience and business connections.<br>
Also what geographic area do you intend to work in, CA? You should try to find out the reputation of both these schools in your area since UMich may not actually have a better reputation then Miami in your particlar area.</p>
<p>Wait until you hear from UMiami and the decision will be clearer. Unfortunately for you many transfer students don’t get offered great aid. It may be worth looking into some CA state universities as well for financial considerations. IMO UMichigan is a fine school, but not worth that much debt.</p>
<p>Without having Miami’s offer it’s difficult to answer this question intelligently. I love Michigan but an extra $29,000 in loans per year for two years just feels way too onerous for something as nebulous as ‘reputation’.</p>
<p>How much of Michigan’s fin aid offer is loans?</p>