Down to two schools - Tulane & Wake Forest. Tulane cost is 16K after aid award, 5500 loan, and applied 529 funds. Wake is 13K after aid awards, 5500 loan, and applied 529 funds. Both are OOS for me. I am focusing on biology/med with the long game to get a PhD and work in research. I like both schools, but I am concerned with things I have heard about Wake, feeling extremely competitive, elitist, and that Greek life is very consuming. I am interested in Greek life, but not as the end-all of my college social life. That makes me lean more towards Tulane, the cost difference is not that much, but it does add up. Is Wake that much better of a program? What is grade deflation like at these schools? Any insight is appreciated.
I don’t understand what you mean by cost after applied 529 funds. Can you please explain?
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Congrats on two fine admission. OOS doesn’t matter - they are private - accept for access. Both aren’t far from airports (if needed) although Tulane’s MSY has Southwest airlines so likely costs less than flying into Piedmont Triad.
Not sure about your costs - you have a loan (not good) - and you are using 529 - so I don’t know if your costs is $30K or $70K - but we can see that Wake is $3k less. Is that $3K impactful to you?
What you say about Wake, I’ve heard about Tulane. Both are filled with really wealthy kids - but guess what, you don’t have to do Greek life - and there will still be plenty of kids.
I’d say Wake and Tulane are peers - in many ways - and one is not better than the other - for bio or med school.
I’m always curious that kids worry about grade deflation. Both are placing kids in medical school - so it’s all relative. Go to the one you want - but your concerns about Wake (rightly so, there’s little merit and very little in the amount of kids getting need aid (253 of 1339) - but I’d have identical concerns about Tulane.
If you are blowing through your 529, and want to go to medical school (at least another $400K) and you can only borrow $200K - including your undergrad in government loans - then guess what - both are too expensive and you should find another or your med school dreams may not happen due to improper financial planning. So perhaps you should pick door #3 and save that 529 plan. After all, med school won’t care if you go to Wake or Wyoming or Tulane or Toledo.
But of these two, door A or door B here - are really similar in my opinion. So pick which you like.
Best of luck.
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Funds that were in my 529 College Savings Plan.
Yes - but @twogirls is asking - what is your cost after aid.
In other words, if Wake is $90K for tuition, room and board - you are taking $5500 in loan so that’s $84.5K left. And it’s costing $13K - so there’s $71K left. How much of the $71K is coming from need aid and how much from the 529.
They are looking for a true cost - not a cost including your savings.
So how much is Wake giving you? How much is Tulane giving you?
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What is the cost after any FA?
oh okay I think I understand, these are my award offers for each - Tulane Aid - $63,110 - Wake Forest Aid - $66,300
So if Wake is $90K ish,
You pay $13K
The school gave you $66K
The loan is $5500
So you are pulling $6K or so out of your 529 each year.
Would that be about right?
Do the schools promise their grant will increase as the cost increases each year?
Really, these are both phenomenal opportunities and your concerns are value - but I don’t think any different at either (my opinion). I’d pick the one I liked best - or if one is flying and one is driving to - maybe they one driving (cheaper, easier to get to).
Best of luck to you.
I am still confused.
Tulane is about $95,000 and aid is $63,000. That leaves about $32,000 left to pay. If the loan amount is 5500, that brings costs down to approximately 27,000.
Yes - thank you for your input. Both schools have said that the merit aid will renew as long as I meet the academic requirements and that the need-based grants will be consistent as long the my mom’s financial circumstance does not change, and that it will increase if tuition/fees increase.
Why do you appear to believe that Wake Forest offers stronger programs in the biological sciences?
They are including 529 contribution to the $16k. Tulane direct costs show $92,328+
They also note this - which is not an assurance. Of course Tulane does not assure 100% coverage where Wake does.
In addition, our costs typically increase 3-5% each year, though our need-based financial aid offerings attempt to meet these annual increases. Grants and scholarships may cover anywhere from $1,000 to your full cost of attendance.
So the 529 will cover the $16,000? Or..will the 529 cover $11,000, bringing the cost down to 16?
I am a bit confused - it’s $95KCOA - $63K in aid, and an additional $4K work-study. I will take the $5500 loan, leaving $22,500 still to be paid. - I will use $6500 from my 529, leaving a balance of $16K.
Ok got it. Thanks! Congrats on two wonderful options!
I would probably choose Wake Forest. These are 2 excellent schools and in your case I would go with the lower cost school.
How will you cover the $13,000 cost of Wake Forest?
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Where you go won’t matter. You’ll be surrounded by Greek, wealth and partying but also plenty of non partiers and really, really smart kids.
Med school will be a huge challenge, especially with new loan limits - but that’s another problem for another day.
But the more you can save now - the better. That gives Wake a very small edge.
But is it better - no. Is Tulane better -no. Both are great.
Good luck.
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Thank you so much. My mom says it could be affordable if she can get a payment plan, and I plan to work over the summer to help with those tuition costs.
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Has this student expressed an interest in attending medical school? Or is the long term interest in medically-oriented research?
Fair point. Hopefully they can get funded or limits are $100k. But that’s another issue for another day.
Hi, yes I am interested in medical research - that is one of the reasons I am considering these program is they both have Phd biomed research programs with tuition waived and a stipend and both programs say that your chances for getting into the program are better if you attend undergrad.
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