<p>If a HS senior’s parents give the HS senior the following options, which should said HS senior choose? Assume HS senior has been accepted to Ivy or Ivy-level university and also received full merit scholarship offer from very good university.</p>
<li><p>Parents will pay for HS senior to attend an Ivy or Ivy-level university so that HS senior graduates debt-free. Parents can pay 60% of the expense out of college savings (was 100% until September), balance to be paid through loans parents will assume. Extras such as summer travel or year abroad expenses that exceed normal tuition would be on HS senior to pay or find grants, and grad school would be on high school senior.</p></li>
<li><p>HS senior accepts full merit scholarship at very good university. College savings are saved for HS senior to use for summer travel/year abroad expenses exceeding normal tuition and for graduate school. </p></li>
</ol>
<p>Either way, HS senior graduates from college/university debt-free. </p>
<p>Discussion?</p>
<p>Depends on the schools & the students, but as a parent I would be inclined to advise attending ‘very good university’ and keeping the $ for later.</p>
<p>I would go with option 2, although I don’t really see why this should be a problem as it looks like you’re completely set financially no matter where you choose to attend</p>
<p>Also depends on if you’re looking at professional school (MD, Architecture, etc.) or a PhD in the future. There are relatively few scholarships or other opportunities to get professional school paid for, but often PhD work is supported through research or teaching assistantships.</p>
<p>It also depends on whether or not you’ll be happy at the scholarship school. Two years ago my D faced the same question and went with the scholarship. While parts of freshman year were great, it wasn’t the undergrad experience that she’d worked so hard for in HS. She ended up transferring to a top private as a soph and is happy with her decision. However, there are also many other students (including her good friend and freshman roommate) who went with the scholarship school and have an excellent experience AND saved the money for other activities. It all depends on the individual and it’s a very hard decision.</p>
<p>Best of luck, EM</p>
<p>Option 2. Have your cake and eat it too.</p>
<p>OP,
If you do a Search on the Parents Forum you’ll find many threads on this topic as it’s asked every year. People tend to be very opinionated when it comes to “top school” vs. money ;)!</p>