<p>As the title explain, I am torn between going to University of Chicago and IU Bloomington.</p>
<p>Some Preliminary Info: I am a current high school senior looking to make a decision about college. I am a math and science person. As of now my intended majors are Mathematics, Economics, Computer Science, and Finance. I really gravitate towards mathematics, and I feel that the other majors are more practical iterations of math. My goal is to use my math skills to live comfortably. Engineering is off the table for me. I do not like the lifestyle and potential of engineering fields, and if I am destined to end up in business, I would rather take the direct route (as opposed to the roundabout way in which many engineers follow to it). I am currently taking Honors Calculus at University of Chicago (love it but feel a bit overwhelmed). </p>
<p>Both colleges have sent me acceptance letters. From IU I have been accepted via Direct Admit into Kelly School of Business and given a full tuition scholarship. I was also accepted to the Hutton Honors College. My parents have also offered financial incentive (a new car) if I attend IU and graduate granted I maintain a certain, undecided minimum GPA. From U chicago, I have no financial aid and no scholarships. After long discourse with my parents, we've agreed on a payment plan which would leave me in about 80k worth of debt.</p>
<p>Now for my questions:</p>
<p>1.) What in your opinion is the value of the pseudo-Ivy reputation as an undergraduate?
2.) Is it worth the debt/loss of assets when compared to IU?
3.) How different will the experience be with both schools given that most of my time at IU will be spent with business/honors students?
4.) What are your overall judgments? (ie which is better in which areas, and what is better for me given my parameters)</p>
<p>More questions to come; right now I am forgetting some.</p>
<p>Thanks for reading my plight (it is a bit lengthy), and I'm grateful for any insights you can offer.</p>
<p>In my (highly biased) opinion, especially for a person with your interests, the University of Chicago offers one of the very best academic programs in the country. Unfortunately, if it’s going to leave you $80K in debt, you cannot afford it. </p>
<p>Are these 2 schools your only options? I’d lean towards the arts & science honors college rather than undergraduate business school.</p>
<p>Literally just got into a discussion with my dad which when reading (or listening, in this case) between the lines amounted to him saying that the 80k would be covered.</p>
<p>As for other options, I basically eliminated all of the possible colleges before I sent out applications. IU and Uchicago are, for me, the best in their respective classes. I did also send out an application to Carnegie Mellon, but I feel like the other two schools are better options barring some outrageously generous scholarships.</p>
<p>Were I to take the path of IU, I would be taking advantage of both the business school and a liberal arts/science honors program. Business school has immense draw for me because its a field I would like to get into after school regardless of my college choice. A good amount of AP credits in concert with the college classes (3 calc courses) I’ve taken will free up some serious time which will in all likelihood be devoted to a second major. So Finance + CompSci, Math or Econ.</p>
<p>An average A&S degree from a non Ivy will leave you jobless and depressed. A finance degree from IU could put you with the Ivy grads on Wall Street or earning a nice check in Chicago. By nice $50K + Bonus to start.</p>
<p>UChicago is definitely up there with the middle of the pack Ivies in terms of prestige and its finance recruiting is going to be stronger than IU’s. Nonetheless, I don’t think that justifies a price difference of 100k+.</p>
<p>Given that your interests seem quite practical/business oriented, I think the IU has the advantage here. Chicago’s undergraduate program has a strong theoretical bent, and the common core seems a bit ‘against the grain’ of what you appear to be looking for. When financial considerations are added to the mix, I think the added expense of Chicago is difficult to justify.
Chicago is terrific at what it does, and (in my view) provides a general undergraduate training that is as good as any in the country, but it is not for everyone. I think the OP needs to look more carefully at curriculum and educational philosophy, as well as finances. The two schools are very different in both respects, to say nothing of financial considerations for the OP specifically.</p>
<p>Good opinions all around, and I thank you for your thoughts.</p>
<p>@barrons: Are you saying that an A&S Degree from Uchicago would be bad (since it is not really an Ivy)? Or do you mean simply to say that an A&S Degree from IU is useless?</p>
<p>@HST: I neglected to mention my thoughts on the colleges’ respective educational philosophies. Were I to go to IU, the more practical path would be my most likely choice (by means of a business degree). Were I to go to University of Chicago, the theoretical education would be my choice (by means of math/econ degree). I can do either one, though with the way I think and the people I fit in with, Uchicago’s rigorous nature fits better. Plus I like the idea of finding some completely random subject that I may love by experiencing the core.<br>
However with this comes some difficulty. What about GPA and class rank? In the fields I have listed, is it better to go to the elite school and be middle of the pack in terms of GPA and rank, or to go to the less selective school and be nearer to the top?</p>
<p>Two stark choices: a hardcore liberal arts curriculum vs. b-school. No one can offer you any true advice bcos these options are so different. IMO, it would not much matter if you were comparing a non-HYP Ivy math major to IU-biz. </p>
<p>Full tuition vs. sticker? A near no-brainer to me, but ONLY iff you want biz. (Personally, I’m not a fan of undergrad biz at the high level, but I’m probably in the minority.)</p>
<p>Let’s take cost and the choice of school off the table for a minute to focus on your academic plan. </p>
<p>A would think a solid theoretical understanding of math, CS, or economics (combined with good internship experience that shows you can apply it) tends to have higher market value than an undergraduate business degree. However, this may depend on whether you are aiming for the big leagues of Wall Street or Chicago finance & consulting, or for an accounting position at an Indiana firm. </p>
<p>But you’re not considering a business degree alone. So compare U of C’s math/econ plus internships with IU business plus math/econ plus internships. Check out the internships typically available to Chicago students v. IU students. When you add it all together, do you think Chicago has enough extra market value to justify the $80K difference? If so, are your parents truly able and willing to pay for it?</p>
<p>According to payscale.com data, a generic U of C degree is worth about $7K/year more to start and $20K more at mid-career, on average, than a generic IU degree. The spread may be more or less for the kinds of programs you are comparing.</p>
<p>If I was in your shoes, I’d take the full tuition scholarship to IU-Kelly. You can do well there and graduate debt free, which is a huge benefit. U of Chicago is fantastic, but not when you have a full scholarship offer to a prestigious business program and have to pay full price at Chicago. It also sounds from your post that you live in Chicago…attending IU will, IMO, allow you to spread your wings a bit and enjoy the full Big Ten college atmosphere on a beautiful campus.</p>
<p>Take the full ride at Kelley and laugh all the way to the bank. Four years of tuition at Chicago is $160,000+. Plus cost of living at Chicago is roughly $5,000 more than Indiana. We are talking over $180,000 over four years. Of course, if your parents are wealthy, go for Chicago. But if your parents are not wealthy, go for Indiana. You can always double major in Mathematics. Granted, IU is no Chicago in Mathematics, but I am sure they have an honors track for gifted Mathematicians.</p>
<p>If you do well enough at Kelley all options from Wall Street to accting in Indiana would be on the table. Coming out of UC it’s going to be more all or nothing. Payscale–really?? You want to use Payscale?? One major adjustment would be half IU grads stay in Indiana where the COL is easily 20% less than Chicago and 40% less than NYC. If their numbers are even accurate as it is a non random non verified Internet site that anyone can post anything on. Believe me, I have just to test it. IU Kelley posts very detailed placement data. Does UC?? I doubt it.</p>
<p>Yes, I agree, there are some issues with the payscale.com data. It is self-reported. It is non-random. It deliberately excludes anyone with a graduate degree. Etc. On the other hand, it is a large sample. The methodology is well-described. The company’s Director of Quantitative Analysis does not appear to be a complete bonehead ([About</a> Al Lee](<a href=“Career Advice: Tips on Salary Negotiation and Job Progression - Payscale”>Career Advice: Tips on Salary Negotiation and Job Progression - Payscale)). The results establish some fairly clear and consistent trends (e.g. in engineering v. arts & science) that are not in my opinion wildly inconsistent with common sense. </p>
<p>Payscale is not a crystal ball for predicting outcomes for any individual, school, or major. But from the perspective of this data, the OP at least has some empirical basis to consider whether there is likely to be a positive salary spread large enough to justify the significant cost difference, in light of family resources.</p>
<p>Well, as I think after the first job future pay is 99% you and 1% anything else I prefer to look at starting pay and job options/recruitment. At least that is factual and applies fairly evenly to most grads that year. I wish schools like UC published more info like that and If you have any please post.</p>
<p>I doubt it as well. UChicago isn’t particularly known for transparency in student outcomes (I am not suggesting that they have anything to hide, but who knows).</p>
<p>I do not think that any sort of projected income exercise is useful here: there are too many unknowns. Any sort of outcome is possible from both institutions, plus there are the differences in majors to consider (i.e. no undergrad business option at Chicago). </p>
<p>Although UChicago is very close to my heart (truly a wonderful place to learn, imo) I would repeat my opinion that the additional cost is very difficult to justify. With these options, I could only recommend it if the OP’s family is extremely well off and the cost is not a discernible burden. Indiana is a fine school as well, and the OP has a great offer there. Plus, I hear great things about Bloomington.</p>