College selection vs cost

[Mickeypooh99]

Also you didn't mention community college, but you might look into the Michigan transfer agreement. My younger son plans to do two years at Grand Rapids community college before transferring to Northern. He's not a kid who will qualify for scholarships, and we are determined that our children will graduate without debt. I know young adults personally who are recent grads trying to pay down college debt, buy a house, and pay for a wedding etc. Its difficult. It's just not what I want for my kids if we can avoid it.

 

[manning]

High tuition does not always equate to exclusive higher education. There are plenty of colleges out there that are just as good.

 

[tguz]

I didn't read all the comments so forgive me if this was stated. Junior College to knock out common classes and then transfer them to a University to finish the degree.

 

[SwanVT2]

My son is completing his junior year and we are trying to figure out which school to attend based on cost vs future earnings/job opportunities. My son is planning to study chemical engineering. If he lives at home he can go to a regional college and his total debt after scholarships and his 529 account would be approx. $8k. If he goes to a stronger state school or well respected tech school he will have debt of approx. $60k due to living on campus. Is it worth going to a better school? In case anyone is in Michigan and are familiar with our schools. The regional college with minimal debt are Wayne State University or Oakland University. The big ticket schools are Michigan State or Michigan Technology University.

Any advice would be appreciated.

TIA

Another option is to stay local, save money and go to Michigan State for grad school.

 

[LongLiveRafiki]

I agree with applying to several and seeing what the offers are. 2 close family members received offers that made the most expensive school cheaper than the others, here in MI. Also make sure to take the campus tours and have him really check out the areas and the services that each school offers. Feeling comfortable at a college will really help his success. With Michigan Tech being so far up north, I really recommend taking a couple day trip up there if he hasn't been.

If he decides to attend a further away college, compare the cost of off-campus housing with that of the dorm. Some require living in the dorms the first year if not commuting, but after that first year, living off-campus could be a huge money saver. My brother's an Engineering major at U of M and will be saving over $600/ month over the cost of the dorm and meal plan by sharing an apartment off-campus with a couple other students, and that's including a $200/month food budget. Over his sophomore-senior years, that's over $14,000 savings.

Another thing to consider if money is a concern is how prevalent work study opportunities are at each school, or if there are a lot of part-time job opportunities in the area. Since he still has a year left of school, encourage him to apply for as many scholarships as he can- the college board website has literally thousands of scholarships opportunities listed, some of which require very little work.

 

[sethschroeder]

I didn't read everything and you probably know this but:
- "Fancy" degrees are really only goin to be worth it when you are at the top of the class, being in the bottom half likely will close the door on the primary advantages like better job placement
- Going to a specific school highly specialized in a field is only good if you end up graduating in that field, roughly 80% of students change their major
- Certain schools have a class ranking system which then allows you to choose your primary study
- Not directly familiar personally with engineering but I have found that within 5 years the college you went to won't matter that much, its more about your work, references, contacts (possibly helped by college background), and possibly a masters degree

In the end might help to reach out to dream job locations and proactively ask about schools, co-ops, internships, and their thoughts. They would be the best to talk to since they are the ones who would possibly hiring in 5-6 years from now.

 

[lady9]

You have to take debt into consideration especially because more than likely you will be the cosigner of his student loans. Our son chose a private, smaller university and with scholarships, loans, his 529 plan, and our out of pocket expenses, he has $30,000 loans but has a job in his field. Our daughter is starting in the fall. She is going to a closer satellite campus of our large state university for a year before transferring 2 1/2 hours away to the main campus. Don't underestimate the importance of living away from home. It helps lots of kids mature and gain independence. Our son definitely needed it. Our daughter is a more independent but struggles to be away from home right now.