I need advice! My daughter is deciding between Muhlenberg and Susquehanna. Muhlenberg has been her clear-cut favorite since the beginning of the college search process. We looked at Susquehanna almost as an after-thought and we’re both surprised by how much we liked it. The problem is the money… She received more than double the amount of merit aid from Susquehanna, which obviously makes it far more affordable. Going to Muhlenberg would mean very large student loans. She has it in her mind that Muhlenberg is ‘dream’ school, and as much as I’d love to see her go there I’m just not sure it’s worth taking on so much debt. Any insight into these two schools would be greatly appreciated 
What do you mean by “very large student loans”? Which loans is Muhlenberg offering?
As you undoubtedly know, though both are very well-respected schools, Muhlenberg is the more selective one. At Susquehanna, your daughter is most likely one of their better and more sought-after applicants, thus the offer of higher merit. Muhlenberg explains preferential packaging very well on its website. Students can usually borrow (on their own) only $5500 freshman year, $6500 sophomore year, $7500 junior and senior years, for a total of $27,000. Any other loans would be either taken out by parents or cosigned by parents. What is the bottom line at each school (tuition, fees, room, and board, minus scholarships and grants)? Can your family easily cover the difference, either with income, savings, or any loans above $27,000? The maximum in student loans ($27,000) should be the most the student herself should have to repay.
The bottom line at Susquehanna would be approx 26k and at Muhlenberg it would be 38k. Both of those numbers are factoring in the 5500 student loan for freshman year. I realize that any additional loans would either need to be in our name or co-signed by us. The dilemma is simply whether taking on that additional debt is worth it to allow her to attend her ‘dream’ school. I know the ‘smart’ answer – it is just a difficult thing to turn her away from her ideal school.
If you can possibly afford it, you should try to get your daughter to one of the revisit days at Susquehanna, and see if she can find things to love about this school also.
What you should have done (hindsight being 20/20!) is set a maximum amount that you were willing to pay - before any of the decisions came in. That way, it would have been clearcut - less than “X" dollars from Muhlenberg, and it would be off the table. Not having done that, it’s harder now to set a limit.
But those are large numbers you’re talking about - I’m sure she understands that. And if it ends up being Susquehanna, she’ll get past the disappointment . . . probably sooner than you will!
She actually has an overnight planned in mid-april. I’m hoping that the experience helps her to find more things to love about Susquehanna.
@jsl628 Just curious what happened in the end? Which school did she choose?
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