Everyone wants to be at Boston University?

<p>Okay, well I know not everyone exactly want to be at Boston University though according to collegeboard.com they have a list of schools often viewed by students from x school… all across I always find Boston University high on the list, even for schools that are across the country.
Factoring the city of Boston; which is often depicted as a collegetown, and also looking at so many great universities within… do a excessive large amount of students simply choose not to attend Boston University because of its price?</p>

<p>Speaking of price, a student with average stats ( as in not the typical cc user), efc 0, accepted into Boston University… what would you expect their financial aid package to be? Mainly interested in knowing on whether their loans is unlikely to exceed 5k?</p>

<p>BU's price is the same as other private schools. It's large and it's not a state school so there's going to be a cross-section of people considering it - while a large state school would tend to have more state residents looking at it. </p>

<p>Financial aid is need-based. BU, like every school, takes the info you file and runs it through their own analysis and churns out a number. A school that says they meet 100% of need, btw, is massaging the truth because they mean the need they see not the need you see.</p>

<p>Choosing to come to BU raises the issue of selectivity. BU is large which makes it less selective, which means they admit more and get relatively fewer. Not a big deal. Take NYU, a large school that trumpets its selectivity. That misses a few key points:</p>

<li>NYU is one of the very few schools in the largest by far metro area in the US. NYC alone has 8 million people, while Boston has less than 650k. </li>
<li>The Boston area has a gazillion schools, including arguably two of the very top but also a wide spectrum. If a kid wants to go to school in Boston, there are more choices than if you want to go to school in NYC. </li>
<li>There are also specific demographic issues. For example, according to Reform Judaism Magazine, NYU is 28% Jewish - 6,000 Jewish kids - while BU is 18% Jewish. That makes sense; NYC metro area has at least half of all Jews in America*. There is a more competition among Jewish kids, who are more likely to be in NY anyway, to get into NYU.</li>

<p>*Note that Jews make up about 10% of the NY metro area. I point that out for two reasons. One is that NY is not Jewish. The other is that studies say that people think an area is a minority area when the minority population reaches 10%. (So 10% Latino and people think it's a Latino area.) I live in Brookline, MA and people think it's Jewish when the largest ethnic group is Irish and the largest religion - by quite a lot - is Roman Catholic. That 10% thing is kind of revealing about the way people think.</p>

Speaking of price, a student with average stats ( as in not the typical cc user), efc 0, accepted into Boston University... what would you expect their financial aid package to be? Mainly interested in knowing on whether their loans is unlikely to exceed 5k?


<p>For an average student, I think it is unlikely that your loan portion will be LESS than 5k... including the "gap" you are likely to receive.</p>

<p>Boston</a> University - Office of Financial Assistance - Applying for Financial Aid</p>

<p>According to the "probability" chart linked on that page, decide what you think you MIGHT (emphasis on MIGHT, you never know until you apply) get. If by "average" you mean "above average in reality but below the CC average," you mean the middle row, check it out. The "average" student in the first column, second row gets $30,915 in free money. That leaves you $25,000 a year to either cover, take out loans for, etc.</p>

<p>Wow, well I don't even have a 25+ on my ACT, nor 1750+ on my SAT, but I'am need base aid and sure I fall well within top 1-27% of class. Does this mean if accepted I will be taking out 20k loans or something?</p>

<p>You will never know until you apply, but according to the chart, you can reasonably expect to take out more than $20,000 per year in loans if you cannot pay out of pocket. I highly doubt that your package will require you to take out less than $15,000 in loans per year. Wait for the financial aid package, but I strongly recommend excellent back up plans.</p>

<p>OP: You might find this New York Times article, about financial aid at BU, relevant: <a href="http://www.nytimes.com/2009/04/19/education/edlife/finaid-pappano-t.html%5B/url%5D"&gt;http://www.nytimes.com/2009/04/19/education/edlife/finaid-pappano-t.html&lt;/a&gt;&lt;/p>

<p>Wow those loans are out of my range, I'm very surprised. Why would one want to take out 20k a year of loans, leading to 80-100k in debt.</p>

<p>I wonder the same thing but some people can afford it - perhaps because they have sufficient family support - others really want to go to a particular school and others don't understand the financial ramifications of loans. </p>

<p>I've gone through this several times but when comparing two schools of marginal difference - i.e., two reputable schools not as separate in prestige as say CalTech and Wentworth Institute of Technology - then 100k in debt means the degree from the "marginally better" school must pay you at least 10k more a year. That's kind of nonsensical since by far the main determinants of pay are the industry and the location. </p>

<p>I've long thought two things were at work. First, there has been a prestige consumption race in colleges, with kids (and parents) equating the higher ranked school as equivalent to the more expensive car or the Viking range rather than the Kenmore. A corollary is that kids and parents have wanted to spend more on college to show they can spend that and to use dollars as a way of providing what they hope is happiness or at least the socially appropriate parental support. </p>

<p>Second, the focus on rankings - which are beyond imprecise and border on the statistically ridiculous - means that kids (and parents) tend to believe there must be something in them, that somehow and someway school #32 really is 18 spots "better" than school #50 and thus is worth paying an extra 80k to attend. </p>

<p>This entire process has been abetted by the colleges - substantially because their costs have risen dramatically, both in new dorms and other physical amenities and in benefits like health - but it has mostly been enabled by the simple reality that families tend to have a few kids and the lesson of cost is learned over a period of years so that learning is largely not passed down to other families, if it is even learned within a single family.</p>

<p>My advice is always: find a school you like, that has the program you like, that is where you want to be and where you believe you'll be comfortable, and that you can afford.</p>