Honestly, what would you do? If your kid was accepted to Vanderbilt but they were asking for a king’s ransom in tuition, whether or not you could afford it, would you pay sticker price for Vanderbilt or would you take honors college at UCSB for an in-state price?
Even ignoring UCSB, under no circumstance would I ever pay sticker price at Vanderbilt or any similarly-priced college. Debt-free bachelor’s, no matter the institution, has always been my advice.
Honors college at UCSB absolutely. Affordable price as a CA resident, beautiful location and great academics.
If you have the money, I’d offer my kid the difference for grad school or to buy their first house. That $150K to $200K goes a long way in real life.
To me it made more sense and was fairer to give my kids a fixed amount of money rather than the promise of a free college education (in our case the difference in cost between the two schools they chose is about $25K per year because one decided to take a great scholarship at a lower ranked school). They always knew what was in their 529s and what we would give them, so $300K colleges were off the table.
It might depend on what the major is, but for a 50% discount, USCB all the way.
Honors College at UCSB.
“Whether or not you can afford it” is a key factor in how willing many people are to pay for a college.
A plutocrat may find any US university’s cost to be pocket change, so price does not matter to him/her. But the typical forum demographic who gets no financial aid on a high income, but would have household budget trouble paying Vanderbilt cost of attendance and may need parent loans (generally a bad idea, especially if there are younger kids) for that, is a different story.
@ProfessorPlum168 , Her major is likely history or economics. And yes, the discount would be at least 50% if full pay.
I would take UCSB unless the tuition at Vandy was pocket change for me.
Also depends on the major. If OPs kid is considering BME/premed, then Vandy would be extremely attractive. Otherwise UCSB with in state costs would be a third of Vandy’s cost.
Unless the parents are made of money, I expect they’d encourage that BME/premed to re-think the specific engineering major, attend UCSB, and save money for med school.
Aside from the money, I’d imagine that “college fit” would be something to consider. Two VERY different environments (preppy/large Greek system) vs (California casual/smaller Greek system). I started at a “higher ranked” private undergrad and transferred to UCSB because it was a much better social fit for me. I completely underestimated the importance of “school fit”. Was super happy I made the change, and I didn’t feel like the classes were any less challenging at UCSB compared to the higher ranked private. Two very different environments we’re comparing here— hopefully there’s one that speaks to your daughter more and can be weighted when evaluating the financial aspects.
@BayAreaRecruiter, She received a very surprising waiting list decision from UCLA last week, which really threw a wrench in things. Still waiting on Berkeley decision this week, but she didn’t like the vibe at Berkeley when we visited. We visited Vanderbilt earlier this month and she seemed to like it. It has that combination of academics, nice campus, plus school spirit. She is not a partyer and has really worked hard throughout her school years. I want her to go to the strongest academic school possible. She has been offered Honors college at UCSB but I’m not sure that the party culture will agree with her. But my gut tells me that the sticker price of the privates makes no sense at all. She has also gotten into UCSD but the campus really turned her off.
@LMK5 Sorry to hear about the UCLA waitlist. Hoping that comes through and makes this an easier decision. It’s great to learn she liked Vanderbilt. I’ve heard it’s one of those places that you tend to know right away if it’s a fit or not. UCSB is definitely a social campus (think ASB President! 
), however there are many non-partiers and I suspect she’d find her people. Best of luck to your daughter, and to you as you navigate this decision.
The important question for me is: would you have to borrow 300k for the Vanderbilt education or did you already save most (or all of the costs)? IMO, no way I would borrow that kind of money for undergrad but if already ear-marked for college and was the “best fit” I might.
@socaldad2002, I could scrounge up the dollars but it would mean no help for grad school; no help with first house down payment, etc. I just haven’t found the data that suggests that the full price private tuition differential vs. in-state is worth it, even throwing in the intangibles. I just feel the money could be put to better use after undergrad. Just my gut feel.
Assuming money isn’t an issue, there might be a few reasons why Vandy might make some sense, most of them reaches: 1) if she’s planning on going into the country music business lol 2) if she aspires to be in high political office 3) if she wants to do a career where the place/reputation of the undergrad degree matters in the long term (I can’t think of any off the top of my head - can think of some in the short term but not in the long term) or 4) if she wants to work in the South.
Vandy is a top notched school, my kid really liked the place, the city brought back good memories for him as he won a major national championship there, so happiness is worth some money that’s for sure. (He didn’t get in though, so it’s a moot point).
@LMK5 If your daughter does end up at UCSB, have her consider one of the designated Scholar’s Floors in student housing (usually saved for the Honors students). This might provide an nice community of like-minded students for her. Best wishes!
@LMK5 I respect that and it’s not like the choice is say Harvard or UPenn Warton and wanting to get a Finance job on Wall Street.
Btw- my doctor BIL also did UCSB premed, MD/PhD at New York Medical School, residency at Columbia University children’s hospital so it can be done. He is now a pediatric anesthesiologist and will pay off his 200k+ medical school loans in 4 or 5 years.
My only concern is that many times college students change their career aspirations and undergrad may be the maximum education they obtain before entering the workforce.
I know I’m in the minority here at CC but I think 4 years of undergrad is very important in the development of each student (“best fit”) and I don’t take that undergrad college experience lightly.
This is a tough one. If history, especially Civil War history, probably Vandy, since it is the South. Economics Vandy ranks higher also, but UCSB is pretty strong too.