I wish to double major in finance and computer science and pursue a career in strategy consulting. I am in-state for UVA and I received pre-admission to Ross. The apparent pros for UVA are the in-state tuition and the ability for me to complete both degrees in 4 years. The cons are the risk that I will not get into McIntire after my 2nd year and its lower-ranked computer science program.
The apparent pros for Michigan are better recruiting in strategy consulting, a better computer science program, and guaranteed admission to the business program. The cons are obviously the cost (30-40k more) and the fact that I will have to stay some more time to complete both degrees.
What other factors should I take into consideration as I make my decision? I posted in the UMich board as well to get more opinions.
UVA est. costs for residents: ($28,932 * 4 =) $115,728. That ain’t cheap; that is more than houses cost in a lot of places.
UMichigan est. costs for nonresidents: ($55,404 (lower division: freshman and sophomore years) * 2, + $58,346 (upper division: juniors and seniors) * 3 =) $285,846.
Michigan would cost you $170,000 more than Virginia. Even if you did the Michigan degrees in the same 4 year time frame, it would still cost a good $111,000 more than Virginia.
Suppose you had the first $116k of costs covered. (Thanks, Dad and Mom!) Is there ANY college that is worth paying another $170k for, or even $111k, out of pocket? I think not. This is a no-brainer.
Excellent analysis FCCDAD. My mantra has always been go where you now you will be accepted to the B-school…but your financial analysis makes it clear that you can finance an MBA and a car with the savings.
UVA is a no brainer when you factor this debt load into the equation. You do not want an anchor ($170K) on your future once you graduate. That is hard to overcome with a young family, other goals - buying a house, car, etc. Go to UVA and make it your goal to get into McIntire! Your future will thank you for it.