Extra cost worth it? What would you do?

[Anonymous]

With a merit scholarship, one school costs 55K all-in, which we can just barely afford, and not comfortably. The other came is at 34K after an extremely generous merit scholarship. Both are small private liberal arts colleges and both reportedly good for his chosen major, but the 55K school is ranked in the top #30-40 for liberal arts colleges, while the 32K school is in the #90-100 range. Worth the extra 23k+/year for the more selective school that has a better national recognition and a stronger peer group, or go to the cheaper school and save? DC likes both equally in terms of campus and the specific programs in his major. We visited and were impressed with the faculty at both.

[Anonymous]

What is the major and what are the schools?

[Anonymous]

Ugh. If DC gets into both of their top 2 (which are neck and neck) next year, we are going to face this same choice, except one is private and one is public (which is why we are already confident about the cost spread). Not looking forward to it. I have no good advice because it’s HARD. Obviously the extra money could be very handy for potential grad school, or go toward a house/apartment, especially if our kids are facing a similarly tough job market as exists now for new grads. We lean toward the less expensive school ourselves, but the pricier one has a lot going for it.

[Anonymous]

Anonymous wrote:With a merit scholarship, one school costs 55K all-in, which we can just barely afford, and not comfortably. The other came is at 34K after an extremely generous merit scholarship. Both are small private liberal arts colleges and both reportedly good for his chosen major, but the 55K school is ranked in the top #30-40 for liberal arts colleges, while the 32K school is in the #90-100 range. Worth the extra 23k+/year for the more selective school that has a better national recognition and a stronger peer group, or go to the cheaper school and save? DC likes both equally in terms of campus and the specific programs in his major. We visited and were impressed with the faculty at both.

If pre-med or pre-law, cheaper school. If anything else, more prestigious one unless $100k would really upset your retirement. May he you give half, he earns a quarter and gets loans for the rest. If he isn't willing to take on work or loan for his part, he should accept cheaper option.

[Anonymous]

OP: His major is STEM, but not pre-med. Plans to go to grad school, though.

[Anonymous]

Pay for the higher ranked school. It will help with grad school.

[Anonymous]

Assuming you are going by USNews, this means it is a decision between say a Bucknell or Lafayette vs. a Juniata or Whittier.

There are several schools in the 30-40 that don't have much national recognition (and honestly, I am not so sure Bucknell and Lafayette really do), so I guess be careful with your premise.

[Anonymous]

Anonymous wrote:Assuming you are going by USNews, this means it is a decision between say a Bucknell or Lafayette vs. a Juniata or Whittier.

There are several schools in the 30-40 that don't have much national recognition (and honestly, I am not so sure Bucknell and Lafayette really do), so I guess be careful with your premise.

I would definitely go with Bucknell or Lafayette over Juniata or Whittier. It’s not even a close call.

It would help, op, if you named the schools.

[Anonymous]

The 55K all in for a SLAC was what you expected, right OP? You likely would have expected it would cost more. When they applied. At least that much. What was your expectation?

Has anything changed about your financial situation? If nothing's changed, I'm afraid you let the student decide.

[Anonymous]

I'd rather not name the schools because I don't want to invite scrutiny about the specific choices. But the Bucknell/Lafayette vs. Juniata/Whittier comparison is about right. That's what I'm looking at.

[Anonymous]

We're facing the same situation, OP, but with universities. One gave generous merit and is ranked between #90-100 and the other gave no merit (not unexpected) and is ranked #30-35. There's a $32k difference in COA.

[Anonymous]

It is tough. My kid is also STEM and is torn between UIUC in Illinois for $65k or Maryland-College Park at about half that, and also wants to go to grad school. We could pay for UIUC but I'm pretty sure it'll end up being College Park. It took me a while to warm up to it but I will be happy about the close distance.
If there's something special about the lower-ranked school - like the kid got into a special honors program or there's an amazing company down the road that regularly hires interns- I'd save the money for grad school. Otherwise, it's tough and I'd let the kid decide after talking to current students.

[Anonymous]

Anonymous wrote:I'd rather not name the schools because I don't want to invite scrutiny about the specific choices. But the Bucknell/Lafayette vs. Juniata/Whittier comparison is about right. That's what I'm looking at.

Grad school outcomes will be stronger from the higher ranked school.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Assuming you are going by USNews, this means it is a decision between say a Bucknell or Lafayette vs. a Juniata or Whittier.

There are several schools in the 30-40 that don't have much national recognition (and honestly, I am not so sure Bucknell and Lafayette really do), so I guess be careful with your premise.

I would definitely go with Bucknell or Lafayette over Juniata or Whittier. It’s not even a close call.

It would help, op, if you named the schools.

100%
same.

[Anonymous]

I don’t know. If you can’t afford it, it’s not really an option, right? Do what you can afford. So so many kids have to do the same. Your son liked both - be glad of that - makes this much easier.