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University of Michigan vs. full ride to central Michigan?

kumarrkumarr Registered User Posts: 4 New Member
I'm extremely fortunate to have to choose between a full ride to Central Michigan (tuition+housing+$500 for books every year) or a regular admission to University of Michigan with in state tuition (right around 30,000 with tuition and housing). I have no idea what to weigh in this situation.

I am not entirely clear on what career path I'd like to go on. I'm currently debating between medicine or law as my top two choices. (they're so different so I know this doesn't help much) My current mindset is that UofM gives me more room to explore academically and more wiggle room, but the financial burden is still a lot to consider. Central Michigan has a medical school so that would be the only path I would seriously consider at central.

My parents are helping out with what they can, but will most likely leave me to pay for the last two years of my undergraduate degree if I choose UofM. Chances are I will go on to either law school or (hopefully) medical school.

Any idea on what I should do? I would appreciate any insight!
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Replies to: University of Michigan vs. full ride to central Michigan?

  • blossomblossom Registered User Posts: 9,323 Senior Member
    How on earth would you come up with $60K? What could possibly be going through your head to make that remotely realistic? What's the plan here?
  • kumarrkumarr Registered User Posts: 4 New Member
    Honestly I'm not sure. I'd apply for scholarships and do work study as well. But you're right, it's not really realistic and I don't really have a plan, I just don't know where to start when it comes to finances.
  • blossomblossom Registered User Posts: 9,323 Senior Member
    Work study will provide you with spending money and maybe cover some books. It won't cover tuition, that's for sure.
  • BuckeyeMWDSGBuckeyeMWDSG Registered User Posts: 812 Member
    edited March 15
    Have you actually received your FA package from Michigan yet? Or run their net price calculator to get an estimate of your net price? https://npc.collegeboard.org/app/umich

    The college navigator site shows average net price for freshman by income bracket:

    AVERAGE NET PRICE BY INCOME 2014-2015 2015-2016 2016-2017
    $0 – $30,000 $3,414 $2,660 $3,249
    $30,001 – $48,000 $6,561 $5,878 $5,575
    $48,001 – $75,000 $9,761 $10,106 $9,895
    $75,001 – $110,000 $17,163 $16,677 $17,705
    $110,001 and more $23,687 $24,129 $25,001
    https://nces.ed.gov/collegenavigator/?q=michigan&s=all&pg=2&id=170976#expenses

    "My parents are helping out with what they can" how much exactly is this?
  • BuckeyeMWDSGBuckeyeMWDSG Registered User Posts: 812 Member
    U-M must receive your FAFSA records from the federal processor by March 31 to consider you for federal financial aid programs. If you are applying for institutional grants, we must also have your CSS/Financial Aid PROFILE by this date. We recommend that you complete these applications by March 1 to ensure that we receive them by deadline.

    If we request additional documents from you, we must receive those by March 31.

    The U-M Office of Financial Aid begins notifying entering students by email when U-M financial aid award notices are available on Wolverine Access. You will need a U-M uniqname or Friend Account to access your award notices online.

    https://finaid.umich.edu/financial-aid-timelines/
  • yourmommayourmomma Registered User Posts: 1,190 Senior Member
    Go for free. The ROI is phenomenal. Everything will work out.
  • MusakParentMusakParent Registered User Posts: 837 Member
    Consider your debt load the federal student loans (up to 27K over 4 years). Full stop. If you have to come up with 60K and your parents aren't in the game, it's not reasonable to consider. Is that your final financial offer?

    And if you're considering medicine or law, $0 debt will be your best choice for undergrad.
  • BuckeyeMWDSGBuckeyeMWDSG Registered User Posts: 812 Member
    Did you submit your your CSS/Financial Aid PROFILE to U-M? If not - Do that now. If so, did you call their FA office and confirm they have everything they need?

    Do not confuse lack of winning merit aid from U-M with having to pay full price, especially if you are an average/median income family. Very few students win merit aid there, but their need based aid is fantastic. And don't confuse ineligibility for federal Pell grants with being ineligible for the institutional need based grants from U-M.

    Are you certain that a financial aid package from Michigan is not forthcoming?

    I'm not sure you have all the information that you need to evaluate your options. What is the gpa required to maintain the scholarship from Central Michigan and what if any other conditions must be met?
  • raclutraclut Registered User Posts: 3,806 Senior Member
    Choose 0 debt for undergrad if thinking of med or law school where you will have to take on debt.
  • MYOS1634MYOS1634 Registered User Posts: 40,105 Senior Member
    UMichigan is tuition-free for Michigan families who make 65K/year and under, and tuition for families that make 65-95K is generally about 2K a year. For families that make 95k-180k there are scholarships.
    https://goblueguarantee.umich.edu/

    Do you know your EFC?
    Why would your parents help you for 2 years only?
  • happymomof1happymomof1 Registered User Posts: 28,871 Senior Member
    edited March 15
    @romanigypsyeyes is one of our experts for Michigan universities. If she doesn't chime in soon, send her a private message and ask her advice.

    You can major in anything and then apply to law school, so don't worry about Central Michigan limiting you from that.
  • romanigypsyeyesromanigypsyeyes Registered User Posts: 33,871 Senior Member
    kumarr, if you're expected to pay 60k+ for your undergrad, it's not even an option. I mean it is literally not an option. You won't be able to cover that and you will have to drop out.

    Go to CMU. Take the free ride. What you want to do right now isn't what you'll want to do in a few years. CMU is plenty fine and allows you to explore. You can use your summers for exploratory internships/research/whatever.
  • MYOS1634MYOS1634 Registered User Posts: 40,105 Senior Member
    @romanigypsyeyes : But kumarr is assuming no financial aid from UMich (has not received a financial aid package yet). I wouldn't take the free ride till I know for sure Michigan is unaffordable.
    Also useful: if parents have said "two years only" as an arbitrary decision, their version of "skin in the game", or if they said so because they think UMich is 30K for all people and they can "only" pay 60k, which would only last 2 years...
  • romanigypsyeyesromanigypsyeyes Registered User Posts: 33,871 Senior Member
    @MYOS1634
    if you're expected to pay 60k+ for your undergrad

    Obviously I can only go by what the OP has said. That's why I said "IF you're expected."
  • wis75wis75 Registered User Posts: 13,631 Senior Member
    Agree with taking the free ride. Medical school admissions are competitive so getting top grades at a state school is better than not doing so at the top school. Either medical or law school would mean paying the costs yourself so you should be looking at waiting as long as you can to incur debt. Nobody cares where you did your undergrad work (nor medical school) in the long run. Physician here, btw. Most of us went to school based are where we were from and what we could afford. Save your money!
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