This. These schools for this OP do not have similar affordability. One is…FREE. The other will require $65,000 plus a year…in loans. This student must have had Williams on their application list for some good reasons.
While you make a case for Berkeley worth considering for some, unfortunately many kids do not have the privilege of making a college choice based on those preferences. Money is the driving factor for the college decision and why a lot of kids end up at community college… it’s all they can afford. This kid has a much better option than that! I’m struggling to understand why anyone would encourage any family to take on this debt, much less a low income family.
Worst case, the student attends Williams and transfers if it is not a good fit. With no debt, that opens up more options. That would not be the case if Cal is not a good fit. In that case, the student leaves $60k in debt and that severely limits options.
The unfortunate truth is that affordability trumps any other discussion, or should. If that means turning down Williams and going to community college or another affordable option that is a better fit, so be it. Berkeley should not even be a consideration.
10 Likes
More things to consider:
-
Housing is not guaranteed after Freshman year at Cal unless you are a Regents Scholar. My friend’s D is paying $3400 for a room in an apt walking distance to the campus. That is one room, not the entire apt.
-
You will have a small chance to develop meaningful relationships with your Professors at Berkeley due to their projects and schedule. Again, Regents scholars have better luck in that department.
-
Homeless situation/crime has risen in the area. Another friend’s daughter is transferring to UCLA in the fall after an assault with a homeless person who followed her inside the dorm.
-
My D was accepted to Berkeley last week, but she was rejected from Williams which was one of her top choices. Tomorrow, we are formally withdrawing her offer from Cal since cons overweigh the pros in our case.
-
We are from Los Angeles. Williams is HIGHLY regarded at our school and in our community. Believe it or not, Berkeley was our semi “safety” choice.
-
Lastly, my husband has been in the tech world his whole life and has a CS degree from Stanford. He said take the Williams offer 1000%. Consider Cal for grad school which will be a better fit for you in 3-4 years.
7 Likes
I believe parent plus loans are over 6%.
3 Likes
Plus the origination fee!
3 Likes
You are right! I incorrectly used the rate for federal loans.
Doing the same calculation using 6% is a monthly payment of over $2600!
1 Like
And folks…that is assuming there will be zero cost increases during this student’s undergrad years at Berkeley. As noted above, even housing isn’t guaranteed and can cost a pretty Penny in that area. The likelihood of loan repayment being for $300,000 or so (including interest and cost increases) is very high.
2 Likes
Hah, you summarized very well. OP feels that the fit is with Berkeley.
OP - any other schools that are contenders that would be a better fit than Williams but cost way less then Berkeley?
I definitely think it will be over $300,000 after putting the numbers into a calculator. And the danger of falling behind with compound interest means most likely getting into a situation of never touching the principle balance even though paying forever.
Would you be willing to give the OP $250k+ to equalize the finances in the choice?
$250k+ debt is likely to make the OP and parents very unhappy in the medium or longer term.
3 Likes
lol, this is in another thread, but no, you’re not going to get that kind of money even in silicon valley and yes there are very few people that do, but that is only because of company stock which they can’t really access till a year into their role.
“Would you be willing to give the OP $250k+ to equalize the finances in the choice?”
Is this a rhetorical question? Not sure why you’re trying make this so personal, I’m just trying to see it from the OP’s point of view.
It seems the student everyone is talking about has disappeared. I’m sure they didn’t like the unanimous and quite passionate advice that they choose Williams. (I too believe this is the best choice—financially but also experience-wise.)
If the OP wants to intern in the Bay Area every summer, Williams can help make that happen. As a Bay Area resident, born and raised here, I can confirm that any company hiring knows the value of Williams. And they will find OP interesting and even exotic because they didn’t go to Cal or Stanford.
Also, OP, you will not want to be saddled with that debt if you are planning on making a career here. It’s crazy expensive and you will want that first year salary for rent in a good area and drinks out with your new colleagues.
3 Likes
OP unfortunately low income kids don’t get to decide to attend schools based on fit or prestige or whatever else you want to focus on. You have a great opportunity to break the poverty cycle and hopefully your kids will get to make a choice. Cash in your Williams lottery ticket and work really hard so you can help your family. Wouldn’t you rather help your parents after graduation instead of paying student loans?
9 Likes
OP, also consider the campus. Don’t get me wrong: I LOVE UCB. But it is a different campus than other universities. I don’t know Williams, but I am assuming it’s basically a self-contained campus.
UCB is not. The campus is part of the city of Berkeley, and the city of Berkeley is part of the campus. That might not seem like much, but you have to cross city streets to get from different areas. Personally (and this is clearly a personal choice), I might like that for grad school. But undergrad is a seriously unique time in your life, and I loved being in a single self-contained campus.
That is one way that Cal is very different (I think) from the Williams campus. Undergrad is a wonderful time to help find out who are or at least refine who you are. You will be in undergrad for 4 (or 3) years to study. No need to waste time commuting, when you can walk/cycle around. Berkeley is a superexpensive place to live, and it appears that you aren’t even guaranteed housing after freshmen year unless you have a Regents’ scholarship.
That, right there, is awful. Do you really want to waste these 4 wonderful years worrying about housing? Again, I don’t know much about Williams, but I doubt it has the same housing issues as Cal.
We live in the Bay Area, and Cal grads are all over the place here. Any employer worth their salt should know about Williams. If they don’t, I would seriously question that employer.
Finally, as I said before, undergrad is a place to find yourself. Perhaps you will graduate with a CS major, but perhaps you might not. So many undergrad students, myself included, entered college dead-certain they were going to major in X and then changed. Why would you possibly want to saddle yourself with around $300k in debt for you/your parents on a gamble?
Good luck with your choice and your future!
1 Like
There have been several posts within the last few weeks by first-time posters that are polarizing in nature. They end up being closed and the poster banned for creating multiple accounts. I am starting to wonder if the OP’s situation is real or if we have been suckered yet again…
10 Likes
Yes, I’m 90% convinced that we’re being punked.
7 Likes
This response makes me think we are not dealing with a real situation and agree that we are being duped.
2 Likes
This! Just this!
2 Likes
Having grown up in a fairly disadvantaged financial situation, I was keenly aware that I was poor. The realities of incurring debt would have been elusive but I would have freely understood and jumped at (as I did) the opportunity of an education fully paid for.
Young people often lack self awareness. A lack of financial resources forces that awareness upon the person.
I question the authenticity of the OPs question but would echo the no brainer to attend Williams.
2 Likes
Feel free to not respond if you think you’re being punked. But please move on from debating the trolling topic.
1 Like