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i can get into a pretty good school like emory or vanderbilt who will pay A LOT of the expenses... however if i get into a top school like princeton which dont pay as much, which should i choose?... i hope to continue onto med school from there... is the money worth the prestige?

By Jennyzsong (Jennyzsong) on Monday, November 10, 2003 - 10:25 pm: Edit

princeton ;)

By Metz (Metz) on Monday, November 10, 2003 - 10:56 pm: Edit

I wouldn't worry about it until the situation arises ;)
Nonetheless, the Ivy's are known for providing very good financial aid, so you never really know who will provide the better deal.

By Jamimom (Jamimom) on Tuesday, November 11, 2003 - 05:44 pm: Edit

That is a question I hear all of the time. Most of the kids I know come from families that do not qualify for much financial aid. When and if the parents fill out the FAFSFA and Profile their EFC tends to be quite high. But, the families do not have the type of money to be able to send the kids to college at $40,000 per year without considerable financial and lifestyle sacrifice. They feel every check they write and the potential of spending $200,000 in the next four years for college is not an easy decision for them. Especially if there are siblings to consider and internal equity in the family--if Son 1 is allowed to go to $200k U, shouldn't Sons 2 and 3 also be given the same option in the next few years? The amounts are staggering.
And most of these kids are bright kids but the competition for the most selective colleges has become so intense, that really very few are going to get into the top name schools. And very few are going to be getting some of those full rides at Emory or Vandy.Actually in my experience, it is the same group that are getting into the most selective schools. Most merit awards I have seen have been in the amount of $5000 or less. My son actually got one scholarship for $50-renewable for the next 3 years. Not to put my nose up, every penny counts, but it really barely puts a dent in the total financial need.
So I am finding many kids in the situation of:
"OK, son or daughter, if you get into HYP and.....(a list of name brand schools), we'll beg, borrow, scrimp, find that money somehow to send you there, don't even thing of going to XYZ University unless you get money because we are not going to put ourselves out for a no-name school when State U is only $10,000 a year, and you'll probably get a couple of local scholarships to shave that cost down. Hell, we'll even throw in a car at that price."
There are several answers to the above dilemma,and families have to look at their circumstances and philosophies in reaching their own decisions. But this is what many kids are dealing with, from what I can see. Any comments about this post..

By Northstarmom (Northstarmom) on Tuesday, November 11, 2003 - 06:29 pm: Edit

First, neither Emory nor Vandy is a lock for anyone.

Also, both colleges earmark most aid on a need basis. Schools such as Ivies earmark all aid on a need basis. Princeton's scholarship packages include lower loan amounts than do many other schools.

Should you get into an Emory or Vandy, you might end up with less aid than from an Ivy.