Just got my financial aid offers, and I am having a really tough time deciding where to go. Over three years, Columbia and Vanderbilt will cost $90k, while UVA will cost $150k. My college fund is $120k, and any unused money would just sit around since I don’t plan on grad school. So the true cost difference for me is more like $30k, which would basically be all of my savings.
Obviously, Columbia is the most prestigious and places the best in finance and consulting, but l’ve kinda eliminated it because I don’t fw NYC as much as I thought I would. The “traditional college experience” is also important to me, so Columbia probably doesn’t make sense.
Between Vanderbilt and UVA, I definitely prefer UVA. I love the campus, the college town vibe, and heavy Greek life emphasis, so it is basically the perfect college imo. Vanderbilt checks a lot of the same boxes and seems to have a great transfer community, but I don’t really like Nashville and Greek life seems less intense/important. I am also considering switching to CS (currently an econ major), which, at Vanderbilt, would be more difficult because I would have to double major or transfer to the engineering school.
Am I insane for wanting UVA over Vandy despite the price difference?
Assuming then you could afford UVA, you sound like you would be happier there than your other two options. You’re not insane for liking a particular college over another. Stick with it if you can say, get a job during college, etc. If you had said you liked the other options better, that would be a different case.
Three outstanding options academically - congrats!
I wouldn’t say it would be “insane” to choose UVA but I would call it an impractical decision unless you secure a way to fund the additional $30k and won’t need money for grad school. I’d choose between the two excellent options thay fall well within your budget – if you prefer Vandy over Columbia that is just fine.
There are a variety of ways to use the money that is in a 529 plan. One is of course attending college or university. Another is grad school. A third option would be to use it to fund a sibling’s education. There is also an option to transfer some limited amount of money into a Roth IRA. This could end up being very valuable by the time that you hit retirement age.
if you prefer a smaller college town, Charlottesville can beat a bigger city like Nashville. But the Greek life at Vandy (25%) is not significantly different than UVa (30%), so perhaps you had a non-Greek tourguide and got the impression that Greek is not big at Vandy – it certainly is. (Welcome to the SEC!)
I would inquire about switching majors at Vandy. Private schools tend to be more flexible than under-resourced publics.
Placement / target schools are not necessarily the same for IB (finance-investment banking) and for MC (management consulting), although Columbia is strong for both fields.
Another business school website cites a 2022 study which found that these 5 universities placed the highest percentage in the top five MC (McKinsey, Bain, Boston Consulting Group, Deloitte, & PwC) firms:
I’ve been on CC for a while, and you are the first person I have ever seen who dinged Vanderbilt for not having intense enough Greek life! I have seen many who were turned off by feeling Vandy’s emphasis on Greek life was excessive. The difference in the percentage who participate, between UVA and Vanderbilt, is minimal. (30% vs. 25%) I very seriously doubt that you would get to Vandy and bemoan that Greek life was too anemic.
Are you insane to have a preference? Of course not. But… would it make sense to spend an extra $60K, which would deplete all of your savings, to attend UVA over Vanderbilt? Not really, in my opinion. The argument that money left over would “just sit around” really doesn’t wash. Use $2K the next time you’re ready to buy a new laptop. Then, roll over the permitted $7K/year to a Roth IRA, for 4 years, and boom, no more 529 balance.
Investigate the realities of switching into CS at each school. Assuming it’s possible at both (which I don’t know) will there be any barrier to graduating on time after switching? Your budget calculation will change significantly if you need extra time to finish.
(Columbia doesn’t sound like a fit at all, if you want intense Greek life and don’t like NYC; plus, completing the core curriculum as a transfer can be a bit onerous.)
It at least doesn’t sound as if you’d be taking on debt to make UVA happen. So, weigh the cost-benefit analysis… but don’t put a thumb on the scale by thinking of that $30K in 529 balance as lost money if you don’t use it, or by exaggerating the difference in Greek life between the two schools. Do your due diligence re: the major change and map out your plan of study in detail to make sure it’s viable in three years.
I thought the same thing. But while it’s relative to be sure, Vandy has a well-documented pull-back on Greek life in the past few years. For students who are comparing Greek experience, I understand how this could be a consideration. But as expressed by the OP, I believe the difference in Vandy and UVA today may be overstated. I do think Vandy’s publicized goal to minimize Greek life should be considered by kids who want a traditional Greek experience…but I don’t think it should be a high priority.
Note: my opinion based on personal connections to Vandy, UVA and Greek life in general.
With $120K in the college fund, can you afford the extra $30K?
It sounds like - I don’t know if can afford is the right word - as you’d use all your savings - but that’s a decision you had to make.
I recently bought my son a car - and he wanted a higher level - and I said to him, to get that one, you need to contribute this much. He had the money - and he declined.
It’s similar - you have the money.
If you’re wiling to spend, then it’s fine.
But if you think you might want grad school, then you might want to save.
The other thing is - you are interested in CS.
Can you get in / transfer easily?
If you get in, will it add time to your degree - i.e. more than three years - which is then more cost.
To me, the Greek thing at Vandy (I’m local) isn’t huge - the ones who I know go there say it’s a non issue. But West end is far more robust than Charlottesville - and it sounds like you don’t like that.
But like everything with a financial strain - sometimes there’s trade offs - and only you can decide if the tradeoff is worth it. I’d investigate all possibilities for getting into CS and what getting in looks like - relative to required remaining semesters.
I do understand OP’s distinction between Vanderbilt & Virginia. The campuses do have a different feel, different vibe. Easier to romanticize about college life at UVa than at Vanderbilt which seems more academic.
Nashville, the State Capital of Tennessee, has much more to offer college students than Charlottesville from dining options to entertainment/sports …not to mention internship opportunities in areas like health care, the music industry and government service.
