Trying to help immediate family.
I will have detailed post later.
Family has twins. There are some cheaper options (with scholarships) for lesser schools. If we look abstractly at the above two schools with direct admit to business, what is your opinion, should family consider paying OOS full price for one of the above?
What is their goal - certain majors maybe. Others friends on the stretch but not necessarily.
Business/ finance. No graduate school. Good education, easy acces to successful employment…
What I’m asking. Investment banking or a finance manager at Home Depot or United Airlines etc.
if the former likely, if the latter and money is tight - you can go cheaper and do just as well.
As you know firsthand, there are no guarantees - even from the biggest names.
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Closing temporarily for review as posts asking for a friend or family outside of your household are against ToS.
IF the family can comfortably afford the school and IF these options are preferred then it is their choice. Can’t objectively compare to options we don’t know.
Opening thread after communication with the OP.
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Clarification. A kid accepted to UT Austin McCombs business school is also selected for Canfield Business Honors. Someone somewhere mentioned that going to Canfield Business honors won’t require a Masters for successful career. Is it true? Kid is not sure about final goals yet. Most likely not an investment banking. Possibly accounting…
Impossible to say if a grad degree is needed since the student (understandably) doesn’t yet know his/her long tern goals. But many jobs are available to undergrads.
Note:
– To become a CPA, candidates need 150 college credits. Most BS programs are typically 120 credits. Some can get there with AP/summer credits and others go for a one year MS degree.
–For top MBA programs, applicants typically need 2-5 years of meaningful work experience. As with many grad programs, successful candidates come from many undergrad programs.
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A masters is not required for a successful career period.
So take that out. It may help, depending on the career. Where you go undergrad won’t impact an mba. Work experience will.
If accounting, both are strong but it’s a high in demand degree. You can go anywhere. If you want a cpa it will require more credits.
I would say probably yes if they are both affordable for the family (no parental loans and/or putting retirement savings at risk.) But…it’s difficult to say in a vacuum without knowing the other choices.
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Is cost a variable that needs to be considered, or are these choices both affordable for this family?
Both are fine choices. Were there any other options?
@Catcherinthetoast do you have an opinion here? Not exactly IB, but finance or accounting.
Promised update. If one of moderators will moves this to college compare forum, it would be greatly appreciated .
All acceptances to Business schools.
Here are options. COA after scholarships everywhere.
Twin 1 - is considering double major in finance and accounting and interested in areas of either private equity or corporate fiance. Honors in all schools but FL.
-UT Austin COA $68k. McCombs, Canfield Business Honors,
-Indiana, Kelly direct admit 55K
-UGA 49k
-OHIO state 43k
-UIUC 32k
-Kentucky 32k
-South Carolina 30k
-U of FL 30k no Honors
-U of TN Knoxville 25k
There is also Alabama but kid is not interested.
TWIN 2. Interested in finance and economics . Honors in all schools.
-Indiana - direct admit to Kelly $55k
-UGA 45k (bigger scholarship)
-OHIO state 43k
-Kentucky 32k
-South Carolina 30k
-U of FL 30k, Honors
-U of TN Knoxville 25K
Also not interested in Alabama
Here is the twist. Grandparents decided to influence decisions at the last moment.
Grandparents are pushing heavily to send twin 1 to UT Austin and promised to contribute 36K per year so that the family pays 30K like they planned. The money they are promising will be withdrawn by them from their 401K annually and paid directly to the school. They refuse any other arrangement. There is no 529 and they refuse to open one. The family would cash flow the 30K balance. Family cannot pay for twin 1 at Austin without grandparents.
Grandparents also insist on sending twin 2 to Indiana Kelley and offer same payment schema. Twin 2 is thinking that Kelly can be too much cut throat and is currently chooses between Florida and Georgia. Twin 1 is dead set on UT Austin.
Concernes: small fish in a big pond at top schools or big fish in a small pond.
Any suggestions, opinions, experience at above schools are welcome.
Potential issues:
- If twin 2 does not go to Kelley (granparents’ choice) and twin 1 does go to UT, this introduces a rift between the twins. Grandparents stated they will not finance any school other than Kelley.
- With the grandparents refusal to put the money up front into any sort of designated account, there is a potential they may not be able to keep up with their promise after the first year if something would happen.
- Grandpatents believe that UT Austin and Indiana provide such quality of undergraduate business/finance education that there will be no need to pursue an advanced degree. They also believe that these schools will propel the twins to excellent internships and careers in areas no less than Wall Street (that being a figure of speech…)
- Family can comfortably afford without grandparents only about 30k per twin.
- Parents are split to send or not any twin to a top school (UT or Indiana)
If both go to their first choice but only one goes to the grandparents’ first choice, what rift between the students would there be? Or do you mean a rift regarding their relationships with the grandparents?
This could be a bigger issue if the grandparents are not fully trustworthy and financially secure enough to fulfill such a promise.
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The financial arrangement with the grands is far too precarious for my tastes. There is no guarantee that these funds really WILL be available for all four years.
- If the grands are putting the current conditions on this money…what is to say they won’t add something else in the future that would preclude them from funding.
- It’s possible the grandparents could need this money for themselves in the next four years. What happens if these grands have some unanticipated medical issue, need skilled care, etc. Anything is possible.
Fact is…this money they are offering has big strings attached.
I would be concerned about that.
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Adding…what happens if these twins decide to switch majors in college…which MANY students do. Does the money go away from the grandparents.
It looks like this family has several options per twin that are within their price point. I would suggest they choose one of those.
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I vote UIUC for kid one and UF or U of SC kid two. Great schools. Great Jewish life.
What if the GP don’t come through. You’d be within budget.
As you know from the struggles at Ga Tech, internships and jobs are not given.
These are great names.
As for cutthroat - how do you know ? People say things but people are people - all different.
Too many of these grandparent stories end badly.
If only another parent would agree…