My D applied to 9 schools. She was accepted at her dream school- Penn State which also gave her a $6000 per year scholarship but will still cost us about $35000 per year because it is OOS. She was accepted at an in-state school with half the tuition cost of Penn State but she has little interest in going to the in-state school. We are still waiting to hear from 4 other schools. We will get no financial aid due to high income so she will have to take out Stafford loan and we will have to use some savings and parent loans or line of credit. The cost over the 4 years will be about $140,000 for Penn State.
I like the in state school because of the lower tuition, and it has a program in which she can obtain her BA and MA in 5 years in criminal justice. She was also invited to apply for their honors program. Of course, I also liked Penn State but not for the reasons I just stated.
The in state school does not have the prestige of Penn State. I want her to be happy and not feel pressured to going to the in state school because of finances alone. She would be thrilled to go to Penn State and I know it's a great match for her. We are planning on visiting both colleges again. Secretly, I'm hoping she will like the in state school and think it "good enough" for her to attend.
How do families decide what to do? This is my first child going to college but I have a son who is a freshman in HS so will need money for him to attend college too.