Live in Michigan and narrowed it down to these 3 schools for engineering (exploratory, biomedical or chemical) with Spanish minor. Interested is larger, diverse campus community. Not into party scene or rushing, but very social and active.
Finances:
529 = $30K total or $7,500/year for 4 years
Parents out of pocket contributions = $5,500/year
Student out of pocket contribution = $8,000/year
Yearly cost to attend after merit aid:
U of Michigan = $28,400
MSU = $2,200 (Parent is MSU employee so include tuition discount and merit scholarship)
So you get a discount because you work there - that’s a perk. But then to say, it’s least desirable…if you can afford otherwise, take it off the list…but again, that’s a perk of working there.
Michigan is a whole different level than state - but is it worth $100K more? ASU is a great school too.
No wrong choice here…obviously Michigan is the pedigree…
After our 529 and out of pocket both U of M and U of (not ASU) A end up being being about $23K total in loans which is doable for an engineering student.
So your budget, including student contribution (presumably federal direct loan plus summer and school year part time work earnings) totals to $21,000 per year.
That means that only Michigan State University is possible out of the above list.
Pros / Cons are somewhat difficult. She has pretty much ruled MSU out and will be back-up but she’s leaning towards trying U of A for a year and if doesn’t work out then can still take advantage of the tuition discount at MSU. But we toured U of M this week and she did really like it and it move up a little bit for her.
I interpreted your finances as being what you could afford without having to take a loan. Is that so, or is the student contribution inclusive of federal direct loan as @ucbalumnus assumed?
Why MSU has pretty much been ruled out? Because you or your spouse work there?
All the people that I know that get a discount where they work have their kids attend that school.
I don’t see how U of A can still be on the list. There are sometimes when I think it is ok for a parent to step in and say “You are making a very bad decision “. Picking U of A in this scenario meets that hurdle IMO.
So - U of A has unbelievable merit. If you have a 3.9 UW, it’s $30K - vs. $37K tuition. If it’s a 4.0, it’s $35K vs. $37K.
So I’m curious how you are coming up with the COA you have.
I’m assuming, since you got into Michigan, you at least have a 3.9 unweighted?
btw - I just took my daughter to Tucson. Great campus. The Honors College facilities are unreal - nicer than your house I’m sure - nicer than mine - with a dining hall in the building and literally 50 feet away, a huge gym and for those who need it, counseling services. It was unreal - if you got into Honors.
To me, MSU is the answer - it’s big enough that you won’t see whoever you are worried about seeing - unless you want to. You are talking about $100K savings!!
But U of M is one of the country’s best schools - and I can see why you’d love Arizona.
Everyone will talk to you about ranking and pedigree - and yes, it matters. But in the end, you have to spend four years there!!
But you will one day learn that money is important - and $100K is a lot!!
That said, I’m curious as to your undergraduate GPA. My daughter got $30K at U of A and I put our COA about $23-24K.
U of A is impressive especially the Honors dorm! My D was given full tuition OOS which was also impressive! But spending 4 years in Tucson wasn’t where she wanted to be. As a state school most students were from Arizona and being a less selective school, a majority of them aren’t at an honors student level. That’s not necessarily a bad thing, but it is something to consider.
Pains me to say this as a Michigan grad, but MSU is the best choice. $100K is no small amount of money and can be used for a variety of things, including grad school at Michigan. Student will still get a quality education at Sparty for a fraction of the cost.
If student still resists, promise them a car upon graduation and you’re still $80,000 richer. Everyone has their price.
