How do you finance a private college education?
I'm a senior in high school (class of 2008) who plans on majoring in engineering (biomedical or chemical)... I have fell in love with two private colleges with price tags of about $50,000 a year, but my state's university cost is about $15,000 a year. I would perfer to go to a private college because of the small class sizes, more attention, better facilities, and better professors. The thing is that my family is middle class and we wouldn't qualify for much, if any, financial aid, and therefore would not in any way be able to afford that $50,000 a year. Anyone have any suguestions on how to find good scholarships or how to mazimize my financial aid? I have a 93 average, CR+M SAT 1420, and CR+M+W SAT 2040. I am also taking all AP and Honors classes and as I said I'm interested in Chemical or Biomedical Engineering... any opinions about possible colleges would also be appreciated!
Public Comments
- I think you should do more research on public universities. Private univestities do tend to have smaller classes, but not necessarily so better facilities and definitely not so better professors. Go to your state university's website, pick a department and look through the backgrounds of the professors, and I bet you'll be very impressed. I went to a public university, and granted I would have preferred some of the classes to be smaller, not all of them were huge. Most, in fact, weren't, even those during my first two years. For my larger classes, I made the effort to make sure that my professors knew me because I knew that with an auditorium of students that was the only way - I talked to them after class, went to their office during office hours if I had a question, etc. Also, the facillities were excellent and the campus was gorgeous. If the $15,000 school is more affordable than the $50,000, I say go for the cheaper one. You're still going to get a great education, and when you graduate and the reality of the public university loans really hit, you'll be very grateful that you didn't make a decision that would leave you so in debt you can't think straight. That's awful for someone in their 20s to go through, and it may possibly hinder you from doing other things you want to do - travel, buy a house, etc. Keep in mind that when you graduate, you'll be making an entry-level salary. Even if you graduate with a degree that will make you really good money - like chemical engineering, the amount in loans you'll have to take out for a private college education may be overwhelming. Also keep in mind that you may one day want to go to graduate school, and may need to take out more loans. But then again, if your heart is set on the private school, find out what financial aid package you can get, and try to get as much money in grants as possible. You might end up with a great package that allows you to go there with little worry about student loans. It's possible. Regarding finding scholarships, this is a good start: http://www.google.com/search?hl=en&q=how+to+find+scholarships Also, check with the private college and find out what scholarship opportunities are available. I know I'm biased since I loved my public university and don't know first hand what the experience of being at a private one is like. Just do lots of research and choose what's best for you. Good luck, and which ever way you choose, make the most of it, study hard and have fun. You only go through college once. More info here: http://www.fool.com/foolu/askfoolu/2001/askfoolu011226.htm http://www.essortment.com/family/collegesprivate_svsf.htm http://ask.metafilter.com/66696/What-can-I-do-to-not-freak-out-about-student-loan-debt
- do employers care about what diploma u present them? no just go to public college much cheaper same degree less money.
- To say that employers don't care where you get your diploma is absolutely ridiculous. Don't take my word for it, ask around and talk to people who have transferred between public and private schools. I went to a private school and have no regrets. The smaller class sizes, one-on-one interaction with the professors, and stronger alumni connection were a definite plus. For financing, search out merit-based scholarships and grants that don't require financial need. Check out fastweb.com for scholarships. The private school's financial aid office will also be a good resource for you. You might find out that you do qualify for grants. Ask them about it because you have nothing to lose. If you need loans to finance the rest of your costs look into loans that you can get with your parents (parent plus loans) and then federal subsidized loans (stafford subsidized loans). These will generally have the lowest interest rates. As a last resort, use private student loans from banks and other financial institutions. When you graduate, make sure that you consolidate all of your loans into one loan with one bank. You'll get a lower overall interest rate which will save you money. All of the talk about people who are crushed by their college debt are in the bottom half of the graduating class. You aren't going to be one of them so don't worry about it. Good Luck!
- You can get free scholarship info here: http://www.aroundthewebaccess.com/scholarship.html
