$160,000 income
Both are great options. Why do you prefer Madison over Bloomington so much?
Also note that last week the UW System Board of Regents approved nonresident tuition increases of $2,000 each for the next two years for UW-Madison undergraduates. Approximate tuition/fees for nonresidents (and total cost of attendance):
2017-2018 $35k (COA $51k)
2018-2019 $37k (COA $53K)
Check with your parents about the relative affordability of both schools. A stated income does not tell the whole picture, nor should we get any details here. It could be that there is plenty of money to choose any school or family finances could mean money is needed elsewhere and finances should play a big role.
I can easily see a preference for UW over IU based on the academics and campus life. But- getting loans or sacrifices by the family may not be worth it.
What is your major?
But look at it this way what will your income be when you graduate and what will the cost of an education be when your done?
Depends on affordability and your interests – my kid is instate in Indiana and went to Wisconsin, and couldn’t have been happier. We are not eligible for financial aid, but could afford the OOS tuition for UW, which was still about$15k less a year than a private school full pay. UW seems to estimate higher room and board than we spent, and travel from Indiana may be less expensive than the general estimate, depending on where in the state you are coming from.
UW is excellent in STEM, History, Political Science, languages and a host of other departments/fields. Madison is a great college town, great college sports, great farm-to-table restaurants, pubs etc., plus it is the state capital so great internships etc. Everyone raves about Bloomington as a great college town and as a beautiful campus, but it never did much for my kid who preferred the Lakes, the Terrace, Bascom Hill and the opportunity for more urban experience in Madison.
IF the extra tuition is easily manageable, then it can make sense – unless one were a direct admit to Kelley School of Business at IU, that would not be something to turn down for UW’s B School. My kid does report that Madison is much colder than Indiana though . . . . and there is ice fishing until March on Lake Monona.