NU + 4,000/yr more loan vs. UMich

cctime
Wed, 06 Apr 2011 20:54:50 +0000

My Son’s choice is between Umich and NU. Numbers are below (approximately). He will do bio/pre-med. Our EFC is $9000.

Umich ( In State)-- Family contribution is $10,000/year. We can pay $8,000, and need to take $2,000 loan ($5500 loan available)

NU – family contribution is $14,000. We can pay $8,000, and need to take $6,000 loan ($6000 loan available)

My question: is NU worth of the additional loan 4 x $4,000 = $16,000?