<p>I've been accepted to both school. Recieved $8,000 from Miami and $10,000 from Rutgers...not including any other scholarships that I might get in the future. I love Miami. Absolutely adore it. But my mother is a single parent...makes only about $55,000 a year. (Low when you live in a high/middle class area). My father is disabled...Anyway...I don't like Rutgers...especially in comparison to Miami. What should I do? Suck up my differences and go to Rutgers? Or take loans for Miami. Is Miami worth it?</p>
<p>Rutgers is a great university they are of equal quality and I do not believe Miami is worth the extra cost.</p>
<p>bump…please offer more opinions…this is a serious decision that I must make. Need some guidance</p>
<p>How do you plan to pay for either of these places? The only loans that you can take out without a co-signer are the Staffords and the Pells (if you qualify). If your dad is disabled, he can’t cosign, and chances are that your mom can’t either given her other expenses. Right now it looks like Rutgers will be barely affordable for you if you are in-state. Do you have any other options at all such as starting at a community college? Run the information from both financial aid award letters through this calculator, and see what the results look like: [FinAid</a> | Calculators | Award Letter Comparison Tool](<a href=“Your Guide for College Financial Aid - Finaid”>Award Letter Requirements - Finaid)</p>
<p>I am in New Jersey and my daughter is currently a sophomore at Miami. I am wondering what your intended major is?</p>
<p>My intended major is Biology on the hopes for the Pre-Med track. Thank you all for offering opinions. So is Miami not worth the $100,000 in debt?</p>
<p>Even though Miami is an amazing school (my daughter loves it, she is a marine bio major) I think you should go with Rutgers. Since you are pre-med, you will need all the funds you can get for med school. Good luck to you!</p>
<p>No undergraduate degree is worth $100,000 in debt. Period.</p>
<p>The maximum that you can borrow with Stafford is:</p>
<p>Freshman year: $5,500
Sophomore year: $6,500
Junior year: $7,500
Senior year: $7,500</p>
<p>For a grand total of $27,000</p>
<p>The payments on that would be approximately $310 each month for ten years. That is equal to a car payment.</p>
<p>If you were to be able to find a co-signer for private loans so that your total debt came to $100,000 your loan payment each month would be approximately $1,200 each month. Which is roughly four car payments, or equivalent to another apartment’s worth of rent.</p>
<p>You also need to think about the cost of Med School. Chances are that you will pay for that with loans - something in the neighborhood of $250,000 worth of loans. Some medical schools would not admit you if you have too much undergraduate debt!</p>
<p>If you don’t like Rutgers, find another cheap option. What about TCNJ or your closest community college?</p>
<p>Miami has given you what is known as an “admit-deny”. If they really truly wanted you, they would have thrown a lot more money your way. Kick them to the curb, and then go find a better future for yourself.</p>