Is USC(Accounting) worth the cost/debt?

ArtsandLetters
Fri, 27 Jun 2014 14:00:01 +0000

Chapman is trying hard to compete with USC. That was clear when we visited Preview Day. So it is pushing to make sure students have similar resources in terms of jobs and connections. Very intimate, hands-on school. And the people we met were very nice. I think you should visit. I know of other parents who chose it when they found they got more FinAid from Chapman. It just wasn’t for us and USC’s campus fit our student’s lifestyle and cultural background a bit better.

Honestly - for the most part any undergraduate degree (as long as it’s a relatively good school) will serve you well. Graduate school may be a different equation in terms of perceived prestige and marketability upon graduation.

But having said that - I don’t know what your parents do but USC has probably figured that if there is no cash flow to allow for full payment, that they’ll tap retirement (not a good option according to my discussions with USC-FA) or take out a Parent Plus Loan from the government. One little known fact, If they are in public service, teach, or work for a nonprofit, the loan balances can be forgiven after 10 years of on-time payments.

But the $200,000+ salary puts the family (even after taxes) close to (if not within) the 1% of the country category. People making significantly less than that are finding themselves in the little or no aid boat at USC as well. Put it another way - students whose parents make minimum wage have a household income of $14,000 for a single earner and $28,000 for two earners working 37.5 hours a week at $7.25/hour. Those people have “no” investments.

So in USC’s eyes it isn’t a matter of whether a family with $200,000 in income can’t make the payments. It’s a matter of “won’t” make the payments (or cash in investments or take out a loan).

Hence a school like Chapman which knows that offers renewable merit aid automatic based on factors such as grades and scores whereas USC makes it a competition and puts everyone else on aid based on family finances.

In their eyes - there are enough people who want to be on USC’s campus to not have to change the formula.

Hope that helps. Good luck with your decision. It’s a tough one for sure!