Would you rather get out of your state now or later, at 22, with a degree and no debt? Imagine how much more flexible you are going to be as far as where you go, what first job you take, without loans to pay back.
$50,000 in student loans is like an expensive car payment, or another rent payment, for 10 years.
Your parents can afford to pay without loans, right?
So, if I understood right, they’d pay either way, but after you graduate you’d have to reimburse them the difference if you choose Penn State - it wouldn’t be a loan from a bank or federal loans?
If that’s the case, go wherever. It really is a family and personal decision.
I’d say that, yes, Penn State is better - Smeal is better than Isenberg, the career fairs are better, etc.
Is it “48K owed to your parents” better? Probably not. I don’t think you’ll find people who tell you the expense is justified.On the other hand, no one can put a price on what you want when you have the money to pay for it. In my experience, people who really want something and have the money for it… buy it.
If you want to look at value, let’s look at it this way: you’ll have to give them 10K every year for 5 years. Will you make 10K more if you attend Penn State&Smeal than if you attend UMass&Isenberg? Look at the difference in starting salaries for each as well as the mid-career salaries, and check it’s 10K or above.
Did you apply to the Honors COllege anywhere? Would that make a difference if you got into Honors at UMass?
Yes yes that’s it. It would all be under the table. My dads income can fluctuate so if he has a good year I will owe them less. I really do think Penn State is the better value because more students get paid internships and more of them get employed. Thanks for the help, I appreciate it. Sometimes I guess there is more to it than money.
I didn’t have the grades to get into Schreyer and was disappointed when I didn’t get into the CHC at umass, but either way that didn’t make a difference.
Ok, here’s another thought: why not go to UMASS for undergrad and use the $50k you save in doing so to fund your MBA at Penn State?
What are you planning to study and what do you think you want to do professionally?
I have heard that UMass Amherst has a great Econ dept, or used to a couple of decades ago…I doubt you’re going to find people on these boards who will say, sure, going to Penn State is worth the extra money. BUT I find that type of question can be relative to someone’s financial situation and personal desires. We have plenty of families in this country that drop $60K a year on universities that are not as good a some less expensive options. For them, it is worth it to send junior to that university for a variety of reasons. In other words, if your family has the money and you really want to go to Penn State, then that is your call. But if you can’t afford the extra cost, and going to Penn State will involve more loans than you are comfortable with – or it puts a financial strain on your family, then I encourage you to take seriously the people here advising you to proceed in a way that is economically sound.
Go to the most analytical, math based program but seriously consider that you will need to go to graduate school unless you choose a pre-professional major.
Have you been to State College? It is three hours form anywhere (Baltimore, Pittsburgh, Philadelphia, New York) in a small town with no major industry anywhere nearby. If you are seriously interested in real world business experience you are much better off in Amherst (1 hour from Hartford, 2 hours from Boston). I don’t know where you get your statistics but a motivated student can easily get a paid summer job or internship in Massachusetts. It may not be through the school, so it might not show up on their numbers, but the opportunity is there in all sorts of industries. If you want a big time sports school you need to decide if that is worth $50k to go to Penn State.