I am a senior in HS getting ready to apply to colleges. I’ve finished my common app essays and a lot of supplemental essays already, but now I’m having some doubts about my college list. I want to go to a really good, competitive school but finance is a big concern. I need to get good merit aid because I probably won’t get any need-based aid, but my dad says he will only pay $40,000 a year (which I know is a lot, and I’m super lucky!!) but unfortunately it’s just not enough for the top schools that I’m looking at. I want to study finance and potentially minor in mathematics.
Let’s start with my stats…
Me: I am a white female who goes to the number 1 ranked public high school in MN
AP Tests- Human Geo (5), Calc AB (5), Calc BC (5), Statistics (5), Biology (5)-- taking four more senior year
Senior Year Classes- Multivariate Calculus, IB Business, AP Physics, AP Spanish, English 12, AP Macroeconomics, AP Psych
Extracurriculars:
Club Soccer (9, 10, 11, 12)- starting center defender, premier level team, dedicate A LOT of my time to it
HS Varsity Soccer (9, 10, 11)- MVP 2015 season, MVP 2017 season, Award for Leadership and Attitude 2017 season, captain 2017 season
Volunteer at a hospital (11, 12)- four hours every week, earned the president’s service award for it
Work (10, 11, 12)- ten hours every week at a coffee shop
DECA (11, 12)- First place in State for Principles of Hospitality and Tourism event 2018, Top Test Score in State and Internationals 2018, Top 20 Finalist at Internationals 2018
Summer Internship at Local Building Company (11)- met with clients and subcontractors daily, evaluated financial statements to determine variations in cash flow over the years
Completed Coursera course in finance (11)- 4 week online course, learned basic finance and accounting concepts
Awards:
National Merit Semifinalist
Student Recognition Award for Outstanding Achievement in History (school level award)
AP Scholar with Distinction
President’s Service Award
Varsity Letter in Academics
A Honor Roll
Now for my college list…
Safeties:
University of Minnesota, Twin Cities
University of Indiana, Bloomington
University of Wisconsin, Madison
Matches:
University of Michigan, Ann Arbor
Fordham University
Santa Clara University
University of Washington, Seattle
Boston University
Tulane University
Reaches:
Georgetown University
University of Texas, Austin (out of state so more difficult)
Brown University
UPenn
NYU, Stern
Any advice on colleges I should add or remove?? I really want to be in a big city, in an urban environment.
Have your run the net price calculators on each of these schools? I used to live in MN, so can guess what suburb you are in, and suspect your family might make too much to get financial aid. But it is worth asking. And even with a high income, you might be surprised, so work with your parents to run the net price calculator on each school website. Note that if your parents are divorced, or own a small business or rental properties, you would likely get less aid than the calculators show.
You could assume you could take out your federal loans, so that would add ~$5K/year to your budget, and you can work summers & during school, so maybe add $3K to that. Giving you ~$48K to work with.
I think your safeties are solid – UMN and UWisc are going to be affordable due to in-state tuition and reciprocity, and you will very likely get in assuming you put a solid application together.
Do you really want to be a finance major at Brown? That seems… oxymoronic. I’d drop them from your list. And if your dad is hard and fast on the $40K number, realistically none of your reaches make sense. Unless you are eligible for need based aid. But NYU probably isn’t affordable no matter what (need based aid isn’t very good there). And UT isn’t going to give you any aid of any kind, and tuition alone is $40K a year for an OOS student. So again, even if you are eligible for need based aid, drop them.
I’m not sure of the merit possibilities at your matches. You should probably Google their common data set and look for the info on the number of students who get non-athletic merit scholarships, and also review info on their websites. You can get an idea of what % of a given class might get merit.
It doesn’t matter if you get in if it isn’t within your budget, though. OP is lucky that they have a couple of strong state universities as safeties with in-state tuition.
Yes, very true, but as always the typical CC response is a dissertation in finance, size, fit, you won’t get in, do you have hooks, and you need more safeties.
40k is a lot and you nor anyone else has no clue once the rubber meet the road what school will offer what and how firm his/her parents are.
Stats are great schools don’t need to be changed at all. If the money isn’t right it isn’t right, but if you don’t apply and get accepted you will never know.
Personally I’m not a fan of many safeties! Have 1-2 schools you like and are guaranteed acceptance too done deal make everything else a reach or darn close to it.
I would remove UMich, UWash, BU, and UT. If the NPC isn’t at or below 40k, all of your reaches have to go. You remaining matches would require merit but that may be possible.
I think you’ll get accepted to many of the colleges on your list, but most don’t offer merit so if you won’t qualify for need-based aid then they could be financially out of reach. So I agree about running the NPC.
You would qualify for merit at some other colleges so you might want to explore those options.
I agree that it is not known how firm the parents are, and I have known parents to increase the amount they will pay in some situations once they understand the current college landscape. Obviously if the OP’s parents move on that number, then the list makes more sense.
But financial aid isn’t the mystery you make it out to be. In this day of net price calculators, and the common data set/college websites with scholarship info/accepted student threads on sites like CC, one can triangulate on possible need based and merit aid. And schools that offer no merit – well, that is obvious from the common data set, and includes some school’s on the OP’s list.
One reason you see a “dissertation” on finances is that once you’ve been out here for a few application seasons, you will realize that finances are the most common reason students end up with no choices in the spring of senior year. It is the unfortunate reality that it is the number one driver for almost every student’s search. The OP has been given parameters by their parent, and they stated them. So of course responses are going to include those in determining if the list makes sense. And did I talk about size, fit, or hooks? Did I suggest more safeties are needed? I did not. So your screed is a bit off point.
I would remove NYU for since they’re notorious for being the school that no one can afford and not giving much financial aid. For the rest of the more pricey schools (UPenn, Brown, etc. ) I’d definitely run a NPC like the rest of the commenters said and find out what you EFC is. and @Eeyore123 UMich offers merit based the OP has a opportunity to receive so why not try?
“There are no full or half tuition scholarships. Ross scholarships average around $5,000 and are very competitive. Since Ross scholarships are awarded in August and September, we advise all students and families to make their decision to attend Ross without considering scholarship aid.”
UPenn and Brown, as part of Ivy League rules, give no merit aid. If that is a requirement then do not apply to either. Merit aid is designed to entice stronger students to attend low matches or safeties. I wonder the point of applying to any reaches if merit aid is a priority for you. As others have said, definitely sit down with your parents and run the NPC for each of the schools on your list. If they feel they can and are willing to meet the EFC at your high match and reach schools that substantially changes your list.
You might consider adding Rice to your list. It offers good financial aid and some merit scholarships. Like UT, it places well in the Houston IB energy shops, though UT is probably better if you actually want to be in NYC. Note, however, that Houston IB pays the same as Wall Street, and the cost of living is much lower in Houston. Rice offers a beautiful, LAC-like campus in a major US city with a global corporate presence and the full gamut of cultural amenities. Since Rice is private, you wouldn’t face the OOS admissions hurdle that would find at UT.
Tulane just loves to WL kids like you who see the school as a nice safe match with money. Unless you show that love, you might just call it a wild card and not a match (not because of you, but because they don’t want to be the back up school for high stats kids who have better offers).