<p>My Son’s choice is between Umich and NU. Numbers are below (approximately). He will do bio/pre-med. Our EFC is $9000.</p>
<p>Umich ( In State)-- Family contribution is $10,000/year. We can pay $8,000, and need to take $2,000 loan ($5500 loan available)</p>
<p>NU – family contribution is $14,000. We can pay $8,000, and need to take $6,000 loan ($6000 loan available)</p>
<p>My question: is NU worth of the additional loan 4 x $4,000 = $16,000?</p>
<p>Most people outside of Michigan, consider Umich to be more or less on the same level as NU. From my experience, it’s only people in Michigan, who believe NU is more “prestigious” because it’s harder to get into as an instater compared to Michigan. One advantage NU has though is that it’s smaller. </p>
<p>But the truth is if your son is planning on going to med school, it doesn’t really even matter where he goes to undergrad, provided that he does well. Unlike law school, med school is all about GPA, MCAT, and ECs. Since the overall cost difference isn’t too much, I would base the decision on fit. 16k is nothing compared to the cost of medical school.</p>
<p>So if my math is accurate U-M is offering about 58% of the COA and NU is offering roughly 74%. My son is also considering both but our difference is about half yours. He is going to NU unless Yale offers him a spot from the waitlist and a better Fin aid package. If I had your choice based on the difference I would probably have chosen U-M.</p>
<p>CCTime, one consideration I will offer up is the following scenario. Presently, your EFC is 9 k at UMich, but you’re eligible for in-state tuition. Full pay at N’western is more like a COA of $53k versus in state Umich at about $23-$24k.
Sometimes due to unforeseen family events (eg. a grandparent dies and leaves assets, as parent receives a promotion, etc.) your EFC can change dramatically from one year to the next, leaving a family in a position where it can’t continue at a more expensive program because need-based funding evaporates – a very disruptive event for a student.</p>
<p>In your shoes, if all else were equal, I’d be a little more comfortable at the ‘naturally’ affordable school, particularly given the recent clawback on pell, evaporation of some state funding, etc. etc. </p>
<p>A secondary consideration is that the population at NU is possibly a little more predominately affluent (just based on COA) and a little less diverse than UMich. I do know at least one student who didn’t enjoy NUs environment and didn’t connect well with peers due to dramatically different lifestyles and values or perceptions thereof. (And at the same time, I know others who flourished an enjoyed that environment.) In some ways, Michigan’s size and diversity means that everyone can find a niche, whatever socio-economical or cultural background – and the breadth of the diversity fosters an opportunity for personal growth.</p>
<p>Just my .02. Your s. has fabulous choices! Which school seemed to “light him up” intuitively. Deep down he’ll know the right fit.</p>