$12,000

[GGGG]

Yesterday, my son got his final financial offer from MU.  That's how much more a MU education will cost us per year in comparison to another (private) school with a similar academic reputation.  Kind of makes it hard for me to push the ole alma mater...

[mu_hilltopper]

So it's $12k more than School X. 

Can I ask what the total bill for MU is?  I thought list was $38k (including R&B)

I ask because .. every time I say man, $38k is expensive, someone says "oh, no one pays list price, they always get a wheelbarrow full of aid."

[GGGG]

So it's $12k more than School X. 

Can I ask what the total bill for MU is?  I thought list was $38k (including R&B)

I ask because .. every time I say man, $38k is expensive, someone says "oh, no one pays list price, they always get a wheelbarrow full of aid."

He got a scholarship of $9,000 and zero financial aid grants.  So it is about $30,000 when all is said and done.

He got a scholarship of $13,000 and a financial aid grant of $2,000 off of a total list of about $33,000 from the other place.  $18,000 when all is said and done.  Just a couple thousand more than the in-state for him to go to Indiana University.

[chapman]

Unfortunate it keeps going up, and we can only hope they don't price themselves out of competition. 

Especially comparing with state schools though, keep in mind that you can graduate from MU in four years, in a lot of cases with a double major and/or a minor.  If a state school will keep you stuck there for 5+ years for one major, you've got an extra year of tuition to add in as well as forgone earnings since you're in school when you could be working if you had gone to MU. 

[Skatastrophy]

He got a scholarship of $9,000 and zero financial aid grants.  So it is about $30,000 when all is said and done.

He got a scholarship of $13,000 and a financial aid grant of $2,000 off of a total list of about $33,000 from the other place.  $18,000 when all is said and done.  Just a couple thousand more than the in-state for him to go to Indiana University.

What university though?  If it's SLU then send him to SLU.  If it's Valpo or ND then you'll have to weigh the value of going to a university with all white people in the middle of cornfields, not much real world education there.  If it's DePaul, then he'll have to go to a school without the experience of having any semblance of school spirit and rallying behind your team.

It's Indiana.  It's Indiana.

School decisions shouldn't be made because of a few thousand dollars.  It's really not that much money in the grand scheme of things. 

[Hards Alumni]

if he didn't get the financial aid, you can probably afford to send him to MU...

AMIRITE?

[tharocket]

Why can't we know what the other school is?

Don't you think that would help us provide more accurate opinions?

If it's SLU, send him to SLU.  Rick Majerus and he can hang out.

[MUAlum99]

Kind of makes it hard for me to push the ole alma mater...

4 years at Marquette or 6-7 years at Indiana.  Do the math and I'm sure MU either wins out or its a wash.  He WILL graduate in 4 years from MU (unless he does a co-op, switches majors, etc).

Plus, there are intangibles.  Send him to a state school where he's one of 50,000 or send him to a school where he'll get a well-rounded Jesuit education and experience things he won't in the middle of a cornfield in Indiana.

I really wished that parents and students would think about more than the price tag when they choose a school.  The old adage rings true: "you get what you pay for".

I can't imagine what tuition will be for my kids in 2020, 2022 and 2027 - but you can sure bet I'm going to do everything in my power to make sure they have a chance to go there if they want.

[spartan3186]

if he didn't get the financial aid, you can probably afford to send him to MU...

AMIRITE?

You never know, I had pretty much the same package, $8,000 scholarship and no financial aid. But my parents also have 3 more to put through college after me. Just because the government deems you to have sufficient funds to send your kid to school doesn't mean that its logistically possible. My parents for example had

Kids in college
1 kid- 2 years
2 kids- 2 years
1 kid- 2 years
2 kids 2 years
1 kid 2 years

all consecutively. Yet, the expected family contribution remains the same

[Chicago_inferiority_complexes]

Did he get the Ignatious scholarship? When I got that (among a couple other very small things), it was just $8,000 a year (I'm pretty sure). That was six years ago this summer. Pretty amazing that it hasn't increased when inflation has gone up 20-30% over a comparative period and tuition has gone up double (or whatever it is) inflation.

They're pricing themselves out of existence. But I don't have any idea when it'll finally hit them (financially, academically).

[GGGG]

if he didn't get the financial aid, you can probably afford to send him to MU...

AMIRITE?

Oh I *can* afford to send him to MU, but I have two other kids to think of.  I'm really not sure that MU is worth close to $50,000 more anyway.

[GGGG]

What university though?  If it's SLU then send him to SLU.  If it's Valpo or ND then you'll have to weigh the value of going to a university with all white people in the middle of cornfields, not much real world education there.  If it's DePaul, then he'll have to go to a school without the experience of having any semblance of school spirit and rallying behind your team.

I'm not going to mention the other school just because I don't want to hear the inevitable "Oh that school SUCKS!!!" comments.

It is a private, urban school that is ranked high as a Masters institution.  (Not among the ones you listed above.)

[MUAlum99]

I'm really not sure that MU is worth close to $50,000 more anyway.

Sounds to me like you've already made up your son's mind.  And, yes, I meant it exactly as I typed it...

[chapman]

About some points made:

-How long have Ignatius scholarships been the same amount?  They were $9000 four years ago at least.  In the caes of a lot of students, tuition goes up

-Other schools have plenty of "intangibles".  Or actual tangibles.  Larger and livelier campuses, football, baseball, hockey teams, different strengths and weaknesses in their programs, different facilities, etc.

-The time to graduate thing is huge.  Counting the Ignatius and a couple other one-year scholarships I picked up along the way, getting an income in Year 5 as opposed to paying tuition made the decision for me about dollar-for-dollar.  Plus I have an extra major I wouldn't have had otherwise and an extra year of experience, meaning better jobs/earnings sooner.

-Probably the best idea to let the kid make an informed decision instead of pushing him or her towards your alma mater or towards the less expensive route.  You don't have to root for the sports teams if they go to a rival, and if it means giving all your kids an education they will be willing to contribute if they really want to go to the more expensive school.

[GGGG]

Sounds to me like you've already made up your son's mind.  And, yes, I meant it exactly as I typed it...

Thanks, but *he* made up his mind around Christmas long before final financial offers were received.

[robmufan]

I got very little from MU, and I mean very little!  My parents...are helping me none because they can't afford to.

I got a good chunk of change from Purdue and from Bradley...one that would make the financial situation much now...

...Do i regret going to MU...HELL NO!

I graduated last year and had a job within 3 months of graduation, a nice paying job.  MU does a great job in getting you ready for the real world.  But thats just one recent graduates take!

[rugbydrummer]

All I have to say is this:

I could have been paid to go to another school(s); I could have gone to U of I[llinois] for cheaper; I could have gone to a few other places that were much more expensive (out-of-state public & private, in-state private).

MU ended up being a (relatively) great deal for me. I have 2 younger sisters, one is at a very $$$ very prestigious school, and we don't know where sister #2 will go yet.  Like someone else already said, you get what you pay for (for the most part).

All *I* have to say is, if you are going to spring for the extra 12K a year, your son should really make an effort to have a plan, a focused approach to what he wants to get out of his college experience.  I mean, you can waste money anywhere, so it's not *really* college-tuition-specific, but all the same.  MU was great for me, I am graduating with a BS & Master's in 5 years total for a program that could have taken 6 or 7 years, depending.  And as it's been said, every year extra you spend in tuition, you lose that + whatever you *could* be earning (although with this market, that may be a moot point).

Also, one question, is it really a 12K differential for all 4 years? In other words, does all that wonderful freshman finaid/grant$$ stick with you for 4 years (max?) or does it disappear for his 3rd semester (i.e. run out after freshman year?)  that makes a huge difference.

[Robyrd5]

-How long have Ignatius scholarships been the same amount?  They were $9000 four years ago at least.  

I think with the Ignatius scholarship, the amount awarded varies based on high school GPA and standardized test scores. So the better you do on those, the more money you'll get. I just remember my best friend and I both got the scholarship, but they were not the same amount.