Hello CC!
I have been accepted into UVA Charlottesville and given a decent aid package (my estimated cost of attendance is 14K/year). I could go to a smaller college close to home that would allow me to stack scholarships, and because my aid covers my tuition and I’d be living at home, I would be getting paid to go to school.
Would I be crazy to turn down Charlottesville assuming my expenses would decrease by moving off campus after my first year, or would I be crazy to turn down money in pocket for undergraduate?
I am undecided on a career path, and sorta on a major, but I am currently planning to major in biochemistry. My local college has a fantastic science program. I also have an interest in global studies.
A reasonable amount of federal student loans (such as $22K total over 4 years) is not a problem. For most federal loans, the feds pay the interest while you are in college. For Stafford and Perkins loans, you will have 10 years to pay them back. If you go to grad or professional school at least 1/2 time, you can defer the payments. If you would need to also take out Parent PLUS or private loans, that would cause much more difficulty in repayment.
. When faced with huge gaps between COA for schools, the choice is usually crystal clear. But smaller gaps make you decide what your threshold is for the additional debt. Is the amount of debt $14k per year, over 4 years (total of approximately $56k)? Do you have a plan for how to borrow the money (fed loan, private loan, family loan). Do you have a bit of a safety net somewhere in case of an emergency? Make sure that you a cushion because you certainly don’t want to not be able to finish your degree.
You specifically asked about living off campus. It is typically cheaper to live off campus, but it may require you to be creative in your quest for housing.
What is the difference between the schools academically? UVA is amazing. How is the comparator college? What are your job prospects afterward undergrad? Or are you thinking grad school which would mean more debt?
if the student’s cost of attendance is $14 K a year under UVa’s formula, all 14K a year should not be loans. Plus a student should be able to earn a few thousand each summer. Most students who receive financial aid from UVa are also offered work study jobs during the school year.
UVa has loan caps for US students, which work as long as a student lives frugally.
Assuming you can lower the out of pocket a bit through summer work, work study, etc., I think UVA would be an amazing experience for you. As some one else mentioned, just living on campus and having the full college experience is a wonderful and important opportunity. Friendships, network, learning to figure things out on your own, etc, are all a big part of the maturing process.
Now add UVA to the equation. One of the best schools in the country (congrats for your admission - you should be VERY proud of that!) for you to explore and develop. The people you meet, the quality of the education, the plethora of opportunities created because it’s UVA… amazing place.
Thank you all for the insightful replies. My estimated COA on my preliminary award says $14K. I just received one of their scholarships which covers my tuition and fees for four years, which is amazing because it brings my cost down to some more. I’d only be looking at room and board, books, and personal expenses. Room and board is $11590. Books are a variable factor, I’m not really sure what to expect. I have the pell grant and a private scholarship to offset the cost to about $4500 for room and board. Decisions decisions.
Btw, the other school I’m looking at is actually UVA Wise. While it is less reputable, it really is a fantastic school for the sciences. People can get in just about anywhere for grad or professional school if they choose to be the big fish in the small pond. I know some of the faculty. There are so many legitimate research projects, not washing dishes lol, and they cover expenses for trips to conferences and such. Not sure if I wanna do science, but if I decide to, it is the perfect place to do so. Close interactions with professors for great recs at the end of the road. As I mentioned before, they allow scholarship stacking, and I have a couple really nice ones already, plus I may run XC in the fall. Stacking scholarships is not unlimited, but I can have nice money in my pocket.
The downside is I’m not sure what I would do if I did not pursue science. I’m on the fence about it. I was gonna stay home to give myself more time to learn my interests and if I really wanted to, I’d apply again to UVA Charlottesville to transfer. UVA Wise is fairly limited in majors and I’m not sure what opportunities I’d have for research or experience outside of the sciences.
Anyway! That sums up where I’m at right now. UVA looks like I’ll have to work a job if I wanna study abroad or if any conferences or anything cost money, it just seems really iffy on what I may be limited on or what I may end up spending on my education overall. Not sure if it’s worth that risk. Wise, my risk is missed opportunity for education experience at UVA and all that entails.
@skycolors527 Wow, you are being so wise in all your thoughts going into this. Congrats to this and your amazing acceptance! Would you be willing to share what scholarship you got at UVA that covers your tuition and fees for 4 years that you mention above. It helps us all out to know what is out there. Thank you!
Congratulations! I’m assuming you are a first year, so yes you can look to transfer after a year or 2 at the other school. Maybe you can sit down with someone and go over the financial aid package from UVA and figure out your out of pocket expenses. After your first year, the room and board will go down if you move off campus.It is a tough decision, you have to figure out what is doable and if grad school is something you see in your future.
@LvMyKids2 Thank you! The scholarship is the University Achievement Award Scholarship. It’s one of the ones not based on merit and you don’t have to submit an application for, but it does have qualifications like coming from a rural area, living in a single parent home, being a first generation, and a few others. You have to meet at least two of those qualifications to be considered. It’s listed on their site among several other scholarships that don’t require a separate app, but the info for all of them is kinda vague. They notify people in April, so I kinda hoped I would get it before I made any commitment anywhere and sure enough I did. So to anyone else who qualifies for that scholarship, keep an eye out early April and if you know UVA is your top choice, wait before deciding elsewhere if your preliminary award package seems like too much to pay. I think I read somewhere (maybe here on CC but maybe elsewhere, I don’t think it’s on UVA’s site) they give it to 50 people.
@Collegehelp4us Thank you! Getting this scholarship that covers tuition and fees is another thing that has me iffy about transferring because now idk if that would pay off in the long run. (Scholarship now vs. saving money and transferring w/o that specific scholarship) I really appreciate your thoughts, I do need to sit with someone who can explain the numbers. I met with financial aid at DOTL but it wasn’t very helpful… maybe I didn’t ask the right questions? or maybe it is exactly what it looks like and there’s no need to question further? Idk. I gotta get it sorted out soon though and just decide what I value most. 
I would go to UVA because Wise is very small and doesn’t have the same resources as UVA. In addition, a lot of learning comes from from living on campus - a lot of growth comes from the residential experience (which may include living learning communities but also study groups, clubs, fellowship).
If you can afford UVA, go.
See it as an investment for your future - the money you’re not getting from Wise for the next 4 years, you’ll get for 20 or 30 years from salary then pay increases at a job you got thanskto UVA’s connections and resources.
Good point you probably won’t get the same financial aid if you transfer so if you want UVa then now is probably better than later. Maybe a guidance counselor can go over it with you. Make a list of questions and then call or if cLose enough go back in to speak with financial aid.
@skycolors527 Congratulations on your acceptances! The thought you are putting into this is a clear indication that you have a good head on your shoulders and you will be successful whichever option you choose. Good luck to you!
If the other school you are considering is UVA-Wise, then definitely go to UVA. Lots of people go to comm. college for monetary reasons, and that’s understandable. The problem is, UVA-Wise IS NOT actually a community college, it’s a full 4 year institution, so people will think you went there because you didn’t get into UVA, not because it would save you a couple grand. You wouldn’t be paid to go to Wise, because external scholarships and financial aid don’t exceed your expenses incurred. As a condition of financial aid, you have to report all external scholarships. That means if a school says they’re giving you $20,000 in need-based aid, but you have $5,000 in outside scholarships, they take the $5,000 and only pay for $15,000. They don’t just give you the extra money.
You’re also way overestimating how good their science program is. There are about a dozen schools in Virginia with a better biochemistry program than Wise. Not the country, Virginia. Let’s see how many I can name right now: UVA, VCU, Tech, Richmond, GMU, W&M, JMU, CNU. There’s 8 off the top of my head with better biochem programs. Not only are UVA’s science departments way better than Wise’s, so are all of UVA’s departments.
Go to UVA. I’m notoriously against loans but you will have minimal debt. As for books you should get a checking account and a Visa. You can probably get one with a $500 limit from Bank of America in the student program. When you get a .edu address join Amazon Prime free for six months. Through that you can rent many textbooks. My son’s estimate for textbooks was $1500 and he only spent $125 one semester. Also Google the ISBN of the textbook you need and sometimes it will show up on eBay or somewhere else cheap. He got one book for $5. Good luck!
After the first year (when you are required to buy a full meal plan at UVa), you can substantially reduce your food costs if you cook your own meals. In addition to rental textbooks and discount online books sales, you can also find books from UVa students who sell their books. Therefore, you should be able to substantially cut the total textbook costs below the official estimates.
Based on your additional awards, the University of Virginia in Charlottesville is the better option for you. Outstanding university in all respects with a large number of majors & courses from which to choose.
Congratulations on getting into UVA. Clearly you are a hard working deserving student. If you can do it, by all means try and make it work.