As a first generation college student and an only child of immigrant parents, getting into an Ivy League school is one of the biggest accomplishments (in my parents’ eyes).
I am definitely grateful and excited to be admitted to such great schools, but it eventually boils down to $$. In short, my parents’ EFC is $42,000, but cannot pay that much due to debt from an equity loan, caring for my diabetic grandmother who lives with us, and a mortgage. In addition, (I’m not sure if this is 100% relevant) my dad, the breadwinner, says that the majority of his paycheck goes to insurance, taxes, and retirement savings plans.
I plan on going to medical school, so that is definitely a factor, as medical school is definitely not cheap either.
So, my problem is this: should I go to Cornell and borrow $15,000 to $20,000 per year and graduate with the “Ivy League” prestige? Or go to UT Austin, an equally good school (but without the label), where my parents could pay for the majority of it? I would only take out $1,000 to $5,000 in loans for UT Austin.
Or is there a benefactor on CC who would be willing to pay for my education? (Mostly kidding!)
Thank you!