UMD full-ride BK for CS OR MIT at full pay — which would you do?

[Anonymous]

PhD is a very long route. I wouldn't do MIT and then get a PhD with all that debt. -- MIT grad with a PhD.

However if it's MIT, 5 year masters in CS -- all the way do it. It'll pay off.

[Anonymous]

Anonymous wrote:I think both can get your son to wherever it is he wants to go (grad school, job, etc.), but they are different in feel--big state school vs. small private, UMD is very comprehensive with all sorts of majors, interests, etc. whereas MIT is (obviously) much more techy. Does he have a feeling about which one would fit him better? With the fact that you have money saved and he wouldn't be taking out loans to make up the different (or your family wouldn't be taking a vow of poverty or taking out a second mortgage or anything like that) I would probably say MIT -- it really is just such an amazing school -- but I don't think UMD would be a bad choice by any means.

CONGRATS to your kid for having two absolutely amazing options!

OP here. Thank you.

No second mortgage or anything. We are not rich-rich, but fortunate enough to have saved enough for a Bachelor’s degree.

Loved UMD BK sessions — it truly seems like a fabulous opportunity. DC was deciding between UMD and U-M, not expecting anymore admits from HYPSM. Then the MIT decision came — will know more after the visit (which is a weekend where the kids get to spend 3.14 days at MIT!), but at this point MIT is #1.

[Anonymous]

Anonymous wrote:My DC is MIT, and UMD Banneker Key as well. He will take MIT.
Congrats to your DC too!

OP here.

OMG — Congrats! Good to know that your DC will go to MIT. Leaning that way here too at this point.

[Anonymous]

OP here….thank you all who weighed in. We really really love UMD but I think MIT is sweeping DC off their feet.

[Anonymous]

CS PhD programs will usually have full scholarship plus some stipend with TA/RA assignments. So no need to save for graduate school if DC wants to pursue a CS PhD.

[Anonymous]

MIT

[Anonymous]

Software engineer here. UMD!

[Anonymous]

Can I ask OP how their kid got into MIT and UMD with BK? What was the hook?

[Anonymous]

Anonymous wrote:Can I ask OP how their kid got into MIT and UMD with BK? What was the hook?

Female I'd guess ("DC", "their")

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No FA from MIT means parents have enough resources. If that was in the plan all along, MIT. And depending on the major, the student may not need a grad degree. Masters seems to be mostly fully paid; PhDs however are usually funded.

OP here. Did not apply for financial aid. DC wants PhD.

If PhD is the goal, paying $320k post tax doesn't make too much sense to me. I also personally know two burned-out MIT grads who decided against pursuing PhD. Going with BK and then go to PhD makes more sense to me.

PhD in CS should be fully funded.

[Anonymous]

My son with full B-K went to UMD for his CS degree and passed up MIT, Berkeley, and a few other top schools. No regrets on his part. He loved his time at Maryland & was a member of the Gemstone honors program community. He's now well-paid to do interesting work. Whatever your child decides, I'm sure he/she will thrive. Congratulations!

[Anonymous]

Anonymous wrote:

Anonymous wrote:It’s a pre-req that every DCUM poster have a Banneker winner. Amazing.

It’s not unusual for ivy plus students to have a full scholarship offer elsewhere.

PP - That wasn't my point. My point was that this board seems entirely full of parents who have kids in the top top top 1%. That is amazing.

[Anonymous]

Anonymous wrote:DC has been very lucky to receive both notifications this week.

We’re leaning towards MIT as we have saved $$$.

Agree or disagree?[/quote

Congrats!!
MIT it would be over any other place (if you have money saved up! Such a tremendous achievement!

[Anonymous]

Anonymous wrote:Can I ask OP how their kid got into MIT and UMD with BK? What was the hook?

I think it is not unusual for a kid who gets into MIT to get UMD Banneker, Berkeley, Stamps Georgia Tech and Caltech. My nephew from a magnet school 3 years ago was accepted into all these and probably some more, but took the Berkeley MET program instead. His other sibling was at MIT at the time, and that was one of the reasons DC decided to go elsewhere. He is very happy at Berkeley, but looking back, MIT was probably right for him.

If you have a choice (finance aside), having a degree from a world class institution like MIT certainly matters!!

[Anonymous]

Hmm this one is actually difficult and I don't usually say that about these types of questions!

Reason being, if your DC got into MIT for CS, he/she is REALLY smart and will most likely be super successful no matter what.

That being the case, they might actually be better off if you invest the money (especially now with the market being down) and give them all of it upon graduation as an investment in future business endeavors. If you were to invest 300-400k, think where it might be in 4-5 ish years.