I had my hopes set on Madison (even found a roommate and submitted a housing application), until I found out grants and federal loans only covered $15,000. As an out of state student, that leaves me with obtaining $25,000 somehow, and my only option is a private loan. On top of that, the interest is going to be gut-wrenching. CU- Boulder and University of Iowa both covered my financial need completely with loans and grants/scholarships. However, I only know the basic facts of these schools because my main focus has been on Wisconsin. Boulder is my second choice because I know I’d love the atmosphere, but I don’t know much about the academics or campus life so I’m not sure if it will meet my academic needs. Also, I’m from Indiana, so there’d be a lot of travel expenses. Iowa is essentially just a back up. I plan on going to medical school, which will drive me into debt as well. I know undergrad doesn’t matter as much as grad (in terms of reputation) but Wisconsin has a great Biology and research program. Do I absorb the debt from the school that has my heart or do I take a risk and go to the school I THINK I’d love but covers me financially?
Why did you apply to CU if you aren’t sure if it will meet your academic needs?
Who do you think is going to lend you $25,000/year over four years to cover the cost of UW Madison?
This is an ADDITIONAL $25k/yr on top of federal loans? No school is worth that.
$25,000 a year? On top of federal loans? Forget about that if you’re planning on med school. Frankly, forget about that no matter what. Madison is a great school (it was one of my daughter’s two finalists, although she chose free tuition elsewhere), but not worth the extra $100,000 plus over other good state flagships. When you say the other schools have covered your need through loans and scholarships, I assume you’re talking about just the $5500 federal loan, right?
Why does your title ask if W is worth $25 in a private loan instead of the REAL amount??? The real amount would be $100k+ …in addition to full Direct loans.
No school is worth $130k in loans. No school is worth even half of that.
What are your parents saying? Are they foolish enough to cosign those loans?
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CU- Boulder and University of Iowa both covered my financial need completely with loans and grants/scholarships.
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Can you copy/paste each of these schools’ FA pkgs for you?
What are your stats??
What is your home state?
I love my alma mater – it’s a cool city and campus with lots to do, great sports and school spirit, and great (hard, with often tough grading) academics.
But if you are taking out $100,000 over four years on top of federal loans – really think hard about that.
It’s a wonderful place, but it’s not the only one.
“I’m not sure it will meet my academic needs.”
??
What the heck does that mean in regards to CU Boulder and being a premed bio student??? CU Boulder would more than necessary meet such needs. What do you think a premed needs??
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Do I absorb the debt from the school that has my heart or do I take a risk and go to the school I THINK I'd love but covers me financially?
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I’m sure that W has a fine bio dept, but so does UC Boulder and UIowa. BIo is a no-big-deal major. Every good school has a fine dept. It’s not rocket science.
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or do I take a risk.... <<<<
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lol…the RISK is borrowing $130k …THAT is the risk. THAT is a HUGE risk. Going to Iowa or Colorado is not much of a risk at all.