UIUC or IIT

College Search & Selection
1

The arduous college search is almost over, but it comes down to UIUC or IIT. Both schools accepted me into Mechanical Engineering. As it stands, it will cost me roughly $8k a year at IIT and roughly $12k a year at UIUC. I know I am comparing apples to oranges, considering the major differences between the schools (size, location, etc.), but I am having a difficult time deciding between the two.

While federal loans will cover my entire cost at IIT, going to UIUC would require my parents to take out a Parent PLUS Loan of roughly $4k a year. If I take out this loan, although it is in a parent’s name, my (perhaps hopeful) goal is to pay it off for them. My school’s college guidance counselor told me I can not defer this loan until after graduation, but is this true? The federal website (http://www.direct.ed.gov/parentrepay.html) mentions deferment but I am not completely sure. Considering my family’s poor financial condition, I am not sure if this loan is a great idea, although it appears manageable.

I think UIUC is the school for me, but I know each school will provide me with a strong education. My father is against the idea of the Parent PLUS Loan but my mother is all for it (and it seems she would be able to cover it, both throughout my years at UIUC and if I was unable to find employment post-graduation).

My heart and brain say UIUC, but my (and my parents’) wallet says IIT. Is UIUC worth the additional expenses? Furthermore, is the Parent PLUS Loan a viable option? Can it be deferred until after graduation?

I would love to hear any insights anyone has on my dilemma.

Thank you!

2

As an alumnus of UIUC and a faculty member at IIT with sons who are alums at each school, I think you will be able to get a fine education at either school. The amount of your loans is certainly manageable at both but you have to consider that you are adding an extra $16k of non-federal loans for UIUC and clearly it is causing some discord in your family.

The real question you have to answer is whether you will be happy at either school or if there is an absolutely clear preference for UIUC. Have you visited both and spoken to faculty and students to see if you will fit in?

If you have any specifics questions about IIT, feel free to PM me.

3

Are there student loans in your package already and you need to come up with 8 or 12 after that?