Is attending an expensive under-grad school worth it in the long run?

College Search & Lists
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Their families take out private loans ($$$). The ~$27K limit applies to federal student loans.</p>

<p>Below are net cost estimates from College Abacus, using hypothetical inputs for the following kinds of schools:

  • an in-state public university (Pittsburgh)
  • a selective, expensive private school that does not claim to cover full need (Goucher)
  • two very selective, expensive private schools that claims to cover 100% of demonstrated need (Bryn Mawr, Colby)
  • an out-of-state public university that guarantees full tuition (not full ride) scholarships for high stats (Alabama)
  • an out-of-state public university with generous merit scholarships, including full ride (Kentucky)
  • two super selective, expensive private schools that claim to cover 100% of demonstrated need (UPenn,Yale)</p>

<p>Assumptions
PA resident
$120,000 family income (split evenly between married parents); $0K in untaxed income
$100,000 in financial assets; $24K in cash/checking
$100K in net home equity (house purchased in the year 2000 for $170K; $65K owed)
$200K net assets (any major debts are against home equity)
$12K paid in federal income taxes
$12K itemized deductions
3 children (including applicant; siblings aged 8, 10, 14)
GPA=4.0, SAT M+CR=1450
Fall 2016 admission</p>

<p>Estimated Net Costs of Attendance
$29,732 University of Pittsburgh ($0 aid; in state)
$26,750 Goucher College ($25,700 total aid)
$19,919 University of Pennsylvania ($41,881 total aid, all in institutional grants)
$19,175 Bryn Mawr ($42,795 total aid)
$18,104 University of Alabama ($23,950 total aid)
$17,110 Colby ($42,400 total aid, all in institutional grants)
$14,832 U Kentucky ($20K institutional scholarship)
$11,945 Yale ($49,355 total aid)</p>

<p>Your Mileage May Vary.</p>

<p>If my assumptions are close to the OP’s reality, then in my opinion her best shot may be at selective (not super selective) colleges like Colby that claim to cover full demonstrated need. ~$17K may be doable (but still very difficult) with work study, loans, and a small family contribution. The OP’s safety may need to be a local commuter college. Or aim for a full ride scholarship from a less selective school (<a href=“Loading...”>http://www.thecollegiateblog.org/2012/12/09/national-universities-that-offer-full-ride-scholarship/&lt;/a&gt;)</p>