<p>Okay,
Hello guys. I am deciding between Boston College and UMICH. I will try to transfer to Ross after my freshman year in University of Michigan. But UMICH is costing me $50,000 more in loans. any idea how the two colleges compare in finance? How hard is it to get a 3.7 GPA in UMICH as transfers have that Gpa?</p>
<p>In my honest opinion, I don't think that the extra $50000 you'll have to pay in loans per year is worth going to UMich over BC. BC's business school is still pretty good, though not as good as UMich's. I'd advise you to go to BC if UMich costs that much more.</p>
<p>yeah going 50,000 dollars in debt is not worth it if your 2nd choice is Boston College which is a well known college and has a solid business program.</p>
<p>Okay let me clear up the price to exact numbers. Boston college will cost me 24,000 a year in debt. In this price I include the loans they are offering me but not the work study program. </p>
<p>UMICH will cost me 33,000 per year in debt which doesn't include loans but does include work study. This is the price from the 40,000 cost which also includes the 2000 they say will cost you per year in expenses. </p>
<p>So Michigan will cost me about 36,000 more plus the interest on loans. Just wanted to clear it up, so you guys give me good advice.</p>
<p>tushar707, I hope you have less expensive choices.</p>
<p>Those numbers give me serious pause. I wouldn't attend Michigan if it were going to to add to an already daunting debt.</p>
<p>University of Connecticut will cost me 11,000 a year. I thought debt was normal for college students.</p>
<p>Not that much. That is way too much. Maybe around $20,000 total for 4 years. Go to UConn.</p>
<p>Wow. Then how do people go to out of state colleges? Since almost all out of state colleges will give you a lot of debt</p>
<p>well most colleges will give u residency after 2 years, so after 2 years you're basically paying instate tuition pricese</p>
<p>Are you sure you're defining your "debt" correctly? I mean, technically for NYU I have 38k in loans per year. But my EFC is 27k, so technically I'm graduating with 11k debt per year, for a total of 44k debt over four years....</p>
<p>Oh in that case the money is much less. but my efc is 17000 and my family says there is no way they can afford that!</p>
<p>I don't know zkevin, debt is debt. Even if it's to cover EFC, if it's loans it's still money that's owed when you're done, and is therefore debt to be considered before taking even more loans. (Not that I'm saying tushar shouldn't, just that we can't delude ourselves about it).</p>
<p>Those loans are the SUGGESTED loans. For example, even though NYU offered me 38k in loans per year, I'd probably only need to take out 11k per year in loans (assuming my parents can pay their 27k EFC). So even though I'm offered 38k in loans, I'm only going to need to take out 11k per year in loans, so I'm going to have 44k in debt after 4 years. </p>
<p>tushar, are you sure your parents can't afford their EFC? Because technically you should be able to pay your EFC. Assuming your parents can pay the full EFC, I'm assuming you receieved a suggested amount of 33k loans from UMich vs 24k loans from BC. After subtracting EFC, you'll have to take out about 16k in loans per year for UMich and 7k per year for BC. So you'd be in debt 56k after 4 years for UMich vs 28k per year for BC.</p>
<p>My dad says he cannot afford that.</p>
<p>Yes zkevin, but tushar is talking about taking all the suggested loans as near as I can tell, and then sayi ng he'll need more. He's not talking about refusing ones that have been offered like you are suggesting. Your post sort of implied that if it's part of the EFC he shouldn't consider it as debt.</p>
<p>Also, usually the suggested federal loans do not cover EFC (unless it is a PLUS loan), the stafford and perkins are "need based" meaning they only take care of what's left after EFC. I'm suprised your loan offers for NYU cover what the federal government says your parents should be paying out of pocket.</p>
<p>how hard will it be to transfer from LSA to Ross after freshman year?</p>