Is it worth it to pay 77K a year for an Accounting degree from Georgetown or take a full scholarship to University of Maryland? Please note that we have saved this amount of money for our daughters education and will receive no financial aid and she will have no debt. Also, she could transfer in 60 credits to UMD and only about 30 credits to Georgetown form AP and duel enrollment courses in high school. I am asking about the value.
No.
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No. UMD accounting is very strong.
CPA requires 150 credit hours/ often means fifth year.
UMD- could start masters or graduate early.
https://www.rhsmith.umd.edu/programs/plus-1
“ The Maryland Smith Plus 1 program allows current UMD undergraduate students to earn a business master’s degree for less time and money than a traditional graduate student. You’ll take graduate-level coursework at undergraduate-level tuition rates and finish both degrees in one additional year”
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This is what my daughter did at Rutgers. She was actually offered a job after graduation junior year, and they allowed her to pass all of her CPA exams before starting. I do not think it’s difficult to find accounting jobs if you are at a large public university.
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This is a good idea, but looking into it she would have the 150 credits for the CPA requiremnt after graduating from Georgetown from the additional 30 community college/duel enrollment courses that they would not accept. At UMD she would have to pay for the Masters, since the scholarship cannot be used for graduate courses.
I was thinking your savings can be used for masters at UMD?
Entry level accountants are offered same salary, typically, whether they were on scholarship or paid private tuition.
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You are really helping me think this through. I guess that she is doing 3 years no matter where she goes. Her sister is a UMD on a full ride and has 1.5 years left until medical school. The cost for 3 years is definitely less and makes the most sense. She just really wants Georgetown. I am trying to leave it up to her. I am not sure that I see value in private school, since I went to a state school, so I was wondering what others thought. Maybe I am missing something that I do not understand. She is also considering law school afterward. Any input here is greatly appreciated. Thank you for your time and effort.
Don’t assume that the 30 or 60 credits will knock off 1 or 2 years for an undergrad degree.
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I have not. I plugged them all onto the transfer credit apps and have another daughter at UMD, so I understand what transfers in. I am pretty detail oriented. Thanks!
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Some Master’s Programs offer Graduate Assistantships (full or partial). A full Graduate Assistantship can offer full Tuition Remission, and a Stipend, with the requirement to work 20 hours a week and maintain a specific GPA. You may want to see what UMD and Georgetown have to offer regarding this.
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Just out of curiosity, how do you know that your daughter will receive a full scholarship to UMD?
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For law school, where you go to school for undergrad does not matter. I’m in a similar situation to your daughter where I have full-tuition (not full ride though) at three universities, and also have been accepted to Notre Dame (one of my top schools!) I am heavily considering law school.
Law school admissions is almost solely based off of GPA and LSAT. Your undergrad really does not matter. If someone had a 3.75 and 165 at Harvard and another person had a 3.9 and 165 at Ball State, the Ball State person would have the advantage, all other aspects equal.
If she takes the full ride, will you give her some money you would have spent for Georgetown? My parents will do that if I get a full ride to some of the scholarships I’m waiting on, and I was planning on applying that money to either a MAcc program at a prestigious university (then getting the brand name), or using it for law school if I choose that path.
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I did that for my MBA. I forgot about being a Graduate Assistant. Thank you for reminding me. Good point! That is another factor to consider! She could easily be a GA with her work experience.
Yes. If she gets the full ride, then she can use the money that I saved for her for law school or possibly a house someday. She is afraid that her chances are better to get into Georgetown Law if she attends school there, in case she does not have the grades to get in there after attending UMD. She is top of her class.
My other daughter did and this one has higher stats. Also, another kid from our area got it with a similar background. It seem that UMD likes Validictorians. She might not, but that would be strange. She is over the top intelligent, clubs, scores, etc. She is truly an outstanding person.
I’m not familiar with the % of students who applied from Georgetown undergrad and were accepted into Georgetown Law, but from what I have seen from doing research, cases like that provide small bumps, nothing extreme.
I guess having more security could be nice, but is that worth full pay over 4 years? Also, concerning getting good grades, have you looked at the average student GPAs at both Georgetown and UMD? That can provide more insight into the typical GPAs for students.
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No, I will definitely look into that! Thank you!
The question is whether it is worth it to HER (or to you), not whether there is any value in it. Will it help her get into a better law school? Unlikely, but it may have a slight bump.
It might be worth it to her. She might really get a better experience out of it and since you have the money, you can afford that experience. That’s what you are paying for, the experience. The education isn’t going to be different as she’s going to have to take the same courses and pass the same CPA exam. I don’t think she’ll make higher pay coming out of school or get a better firm, but she may still really enjoy going to Georgetown more then UMd. I’d enjoy spending that money on a car, many vacations, a house, etc., but she may really enjoy Georgetown.
I do not think the bump she MIGHT get into Georgetown law if she attends G’Town undergrad is worth $300k. I do know a recent grad who did get into G’town law (catholic undergrad school but not G’town) but decided to go to GW because the merit aid was better. She’s been very successful with a federal clerkship and now slaving away at a big DC law firm. Her parents could have easily afforded G’town but she went with the merit aid and is happy with her decision.
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First off, if you are a full-pay family getting a full-ride for merit… that is unheard of now-a-day. So congrats if that happened or is happening.
The answer to ur question is heck no! I would never pay G-town full pay over a full-ride or nearly a full-ride to UMD.
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Is this a real question ? Spend $80k or nothing ? The school could be Salisbury instead and the answer would be the same 
But UMD is a great b school, great for accounting.
So do you have a 529?
This is my issue. I saved waaaaayyy too much. My kids college also cost less than anticipated (but unfortunately not free).
In a 529 you have options. Grad school. You mention one trying to go to med school. You can change the beneficiary.
Did you know you can pull out the scholarship value ? You can pull close it with minor penalty. Or there are grandkids and you can save for them.
As The Rolling Stones said, you can’t always get what you want…but you can get what you need.”
Sorry Gtown. Sue can take the train in on the weekend.
See #2 below.