(This question is based on the scenario that I actually get into the private school for my chosen major in question)
I'm a high school senior who is considering applying ED to JHU for biomedical engineering (they are #1 in the world). JHU is really my favorite school and I would love to attend, but...it's going to be very expensive for me. My EFC for JHU is around 61k/year. As an NJ resident with perfect grades and scores, I think I have a good shot at a full ride from Rutgers and admittance to the Honors College. I want to go into biomedical engineering, biochemistry, molecular biology, or biophysics, and jobs in these fields basically require PhDs.
My total loan balance after 4 years should be somewhere between 100k and 130k if I attend JHU, before interest. (This figure depends on how much my parents are willing to contribute to cover the cost.) If admitted ED to the biomedical engineering major, I have to go to JHU: however, if I am admitted to the school but not the major, I am not bound to the school. Given all of this information, is it worth going to JHU with an eye on a research-based career, or should I just go to Rutgers and save? Are the opportunities available at JHU worth the significantly higher price tag? Does my chance at grad school go up as an above-average JHU student versus as a top Rutgers student?