Help Me Make My College Choice (UChicago, NU, UF, Gtown, etc.)

My studies/career goals: I want to study finance as my major in college for sure. At the moment I plan on doing finance for 4 years of undergraduate, go to an MBB Consulting Firm, eventually a MIT Sloan, Stanford, or HBS for my MBA, and finally end up in Venture Capital in Boston, LA, or the Bay Area. In addition to finance, I would like to do a minor in computer science or cognitive science for professional reasons, and fashion design or food science for personal reasons.

Finances: I did file for financial aid everywhere I applied and unfortunately was not rewarded any need based aid. I received some merit scholarships, but no full rides. My family is on the higher side of income, so I wasn’t expecting much anyways. I have a couple outside scholarships totaling $5500. I live in Florida, so I also have the highest level of Bright Futures and Florida Prepaid.

Campus and Social Life: I am a more social guy for sure. I like doing things out a lot and talking with people. It’s difficult for this category cause I find myself attracted to not the frat, football, and going out lifestyle of a large public school, but also the going out to eat and longer more relaxed conversations found at my academically focused private schools. I am definitely looking for a traditional campus with lectures halls, courtyards, and nice looking buildings.

People: Of course coming from Florida, I will already know I lot of people going to Florida and Florida State, which is nice having a preset group of people I like/can room with, however the opportunity to reinvent myself somewhere new is appealing.

Location: I am definitely a city guy, but college towns are interesting to me too if they have some of the resources I am looking for. I like art, exploring, cooking, and restaurants. Music, concerts, clubs, and festivals would be a nice bonus. I live in a pretty warm climate, so I know the cold might be a tough transition. Most importantly I would like the opportunity to do internships in a reasonable distance from my campus in my related business fields.

Study Abroad: I know nowadays it seems as though everyone has the same study abroad opportunities, but just to say it, I am particularly interested in Zurich, Singapore, Oxford, Japan, and South Africa.

The Overall Question in my mind: At which of my options will I find academic and career opportunities to reach my high goals while providing me with a strong social balance at a price that is easy to pay off now or could help me easily pay it off in the future with it’s opportunities?

With that being said, my options are as followed:

  1. The University of Chicago - 45k over 4 years.
  1. Georgetown University- No Scholarship
  2. Northwestern University- No Scholarship
  3. Northeastern University Honors Program - 35k a year
  4. University of Florida - No Scholarship (But is basically free with bright futures and prepaid).
  5. Florida State Honors Program - 10k over 4 years (Basically free with bright futures and prepaid).
  6. Fordham- Full Tuition Scholarship
  7. University of South Carolina Honors Program - Instate tuition reduction + 8k a year.

How much can you and your parents pay before taking any loans?

What is the net price of each after subtracting scholarships from the list price?

My number of students loans I would be ok with is about 17k a year.

The COA of Attendance for each of the options is as follows:

  1. ⁠UChicago - 65k a year
  2. ⁠Northwestern- 74k a year
  3. ⁠Georgetown - 72k a year
  4. ⁠Northeastern- 37k a year
  5. ⁠UF - 6k a year
  6. ⁠Florida State - 3.5k a year
  7. ⁠Fordham - 20k a year
  8. ⁠University of South Carolina - 25k a year

But how much can you and your parents pay before needing to take loans?

Note that loans more than $5.5-7.5k require a cosigner or need to be parent loans – usually not a good idea.

If you and your parents can pay $0 before needing loans, then only UF and FSU are affordable to you.

No point in any of us repeating what you already know. Can you be more specific with regard to what you’d like help with.

You will get a great education at any of these schools. Allow money to be a driver, but not the only driver. In reading about your wants, likes, dislikes and goals, here’s what comes to mind.

  1. Go with your gut, balanced with finance.
  2. Eliminate 6,7 and 8 on your list. Very good schools (2 of which my high school senior is considering), but the others on your list have much higher reputations for the depth and breadth of the education they offer.
  3. I have never visited UChicago or Northwestern but they are top ranked schools. Consider their location and size in forming your decision and what’s important to you.
  4. My husband is a Georgetown Alumni, my oldest son is currently at Northeastern. They are both great schools and, in reading what’s important to you about location, size, social culture, etc, it sounds like either of these could be winners for you.
  5. UF has been increasing its ranking (another one my high school senior is considering), but dig a little. I have been reading posts from people in their business school. Reading that many of the business classes are on- line, especially the first 2 years. I have not yet called to inquire about this, but I’ve read enough parent posts that it has me concerned. Big party school, and it doesn’t provide the urban scene you prefer.
    Additionally, if you ultimately want to work in Boston, you will have more networking from schools in the Northeast.
    You can’t go wrong. These are ALL wonderful schools. Best of luck to you. Please post your decision.

Fordham seems like a great opportunity. NYC is an amazing city that will definitely help you expand from your Florida shell. The internship opportunities in NYC are also endless.

Aside from UF, how would you propose OP pay for these schools? ‘Going with your gut’ is not an option when you can’t pay the invoice.

OP, looks like UF is your best option. You can pay for it with your $5,500 in scholarships and $5,500 freshman year direct student loan. The others will require too much debt, and UF>FSU for business.

“At the moment I plan on doing finance for 4 years of undergraduate,”

Outside of being unaffordable, Chicago and NU don’t have finance undergrad, you’d have to do econ I think. I would probably lean to Fordham or the in-state schools.

So your choice is basically $24,000 for four years at UF vs $260-$300K at Chicago, Georgetown and Northwestern. And that’s before inflation. I’d eliminate Northeastern, Fordham, and USC. And then $14K at FSU.

Think about what you could do with an extra $240,000-$280,000. Fund your two years at a top MBA program. and then you would have an extra $100K-$140K to buy a car and put a down payment on a house.

If you want to get into the top MBA programs, you will need high grades, top GMAT scores, and good work experience from wherever you go. Being in the middle of the pack at UC, GU, or NU won’t cut it.

For me, it would be between FSU and UF, and with the reputation of the school, I would lean towards Gainesville. The other schools cost way too much and aren’t worth the value, with no guarantee you will get a top job and grad school admission. Top students at Florida will have a lot of opportunities as well.