Hi!
As college acceptance letters are coming back, I’m having some trouble deciding where to go next year. Right now my top two schools are the University of Alabama and the University of Nebraska. I visited Alabama back in October and I completely fell in love. It was such a beautiful campus, friendly people and I could really picture myself here next fall. A couple week later, I heard from from Nebraska that I was receiving around a $10,000 scholarship. This would greatly reduce the amount I would have to pay. As of right now, I didn’t revieve any money from Alabama, but I’m still waiting to hear from FASFA. My parents are really pushing for me to attend Nebraska due to costs. (They are giving me a chunk of money and whatever still needs to be covered I will have to pay for.) One reason I have a concern, is that I plan on rushing in the fall and have heard about the crazy amounts of money it is to join one of the sororites at Alabma. This would be something I would most likely have to pay for. I have not visited Nebraska but have looked online and have not really gotten interested. I plan on majoring in psychology, however I don’t know if one school would be better for that or not. If anyone could help me decide between the two and what you think would make most sense, it would be greatly appreciated!!
I would probably like Nebraska better but I not the one going. It seems clear that
A. You need to wait for Alabama to send financials see how the costs compare
B. You should visit neb. And imagine yourself there
C. 10k a year is a huge amt of money
What are your stats?
Are you instate for Nebraska? if not, what % are OOS students? Do many instate kids go home on weekends? That can be a concern when most students are instate.
How much are your parents giving you each year?
Are you going to visit N?
I’m from Illinois and I have a 2.9 GPA with a 24 composite score on my ACT.
Did you run the OOS Net Price Calculator at each place? Do that to get an estimate about your aid. With your GPA and test score, it is likely that you will only qualify for federally determined need-based aid. Unless you qualify for some Pell Grant money, chances are that all you will get is a student loan. That is only $5,500 for your freshman year.
I’m concerned that neither school is terribly affordable since you’re hoping for good news based on your FAFSA. I know IL has few inexpensive public options, but what are the annual net costs projected for each school you applied to? Their net price calculators should have given you some idea before you applied.
Scholarships are great, but what’s the balance you’ll be left paying? Psychology majors frequently need to attend graduate school to find good jobs.
Greek Life is very expensive and a “luxury” IMHO. Do not plan to pay for it with loans!
Alabama is a wonderful school, but it’s not inexpensive for OOS students unless they receive large merit or athletic scholarships.
Nebraska and Bama are ranked similarly, so if Nebraska is much less expensive, and you like it after visiting, I’d go be a Cornhusker–but only if I could do that without accruing a lot of debt!
If both schools would leave me with more than the Stafford maximum (<$30,000 for four years), I’d rethink my plan entirely about going out of state for my undergraduate studies.
How much would that be? You are limited to a loan of $5.5K as a freshman.
(If the costs are similar, check the temperatures at each school today and choose the one you prefer. Alabama is going to give you milder winters.)
My parents are giving me $20,000 and then I would have to pay for whatever else is needed.
how would YOU pay for whatever else is needed? You can only borrow $5,500
Anyone else surprised that Nebraska would give $10k merit for modest stats? Are they desperate for students?
Is that $10k scholarship PER YEAR or is it $10k OVER 4 years ($2500 per year)? I suspect it’s $2500 per year. What does the award say?
Alabama will have far superior weather…but it’s not affordable. Nebraska also won’t be affordable if that award is for “over 4 years.”
Edited to add…I ran the UN-L scholarship estimator and it appears that this student’s award may be an amount that is paid over 4 years.
It was a scholarship for academics for $39,000 over 4 years making it $9,750 each year. Also, I’m very shocked about the $5,500 loan. I’m not sure if my parents knew that and hopefully they might reconsidered.
^^^
Wow…amazing. Does the award have a name? UN-L must really want students.
Yes, that is true about the $5,500 loan for frosh year.
It is called the Ruth Leverton Scholarship. My apologies it’s actually $36,000 over 4 years, being $9,000 each year. I also have a question about the loans. Is that $5,500 loan the only loan available, meaning there is nothing else I could get from the bank?
YOU can’t get anything from a bank.
However, if your parents are naive about the risks of such excessive borrowing, then they can co-sign bank loans. This is a huge risk for them, which is why most parents will NOT do this. Will your parents co-sign a bunch of extra loans?
What is your career goal? How much do you think you’ll be earning upon graduation?
The Ruth Leverton Scholarship is awarded to out-of-state students who exhibit outstanding academic performance. The Ruth Leverton Scholarship provides $9,000 per year toward the cost of nonresident tuition charges for up to four consecutive years, with three inclusive summers, or the completion of a bachelor’s degree, whichever comes first.
Interesting.
Your parents are giving you $20,000 total or annually?
If it’s an annual amount, it looks quite doable. You’ll receive a $9,000 discount off a total cost of attendance (COA) of $32,050, bringing your total cost to $23,050*, and you could make up the difference each year with a Stafford loan.
http://admissions.unl.edu/cost-aid/tuition-fees.aspx
If your parents’ gift is a one-time thing, however, I don’t think it’s even remotely feasible financially.
*Annual COA will likely go up each and every year, but your Stafford loans should increase similarly.
Wow…yeah in this situation I would say go with the better financial offer, and also check out your in-state schools to compare what your cost of attendance would be in-state. You really don’t want a ton of debt coming out of college.
“Wow…amazing. Does the award have a name? UN-L must really want students.”
I was saying the same thing about Alabama just a few years ago…
@rjkofnovi
you can’t compare Bama to this situation. When was Bama giving out nearly $10k per year awards for a 2.9 GPA and a 24 ACT? …much less saying it’s for “outstanding academic performance”. To get $12k per year from Bama, you need at least an ACT 29 and a 3.5 GPA.
OP, look at Indiana State. Your total cost will be about $23k, roughly the same as UNL with the scholarship, and less than you’d pay at Illinois State.