#1 choice private school vs state school (not so cheap)

[RedSox143]

I've been grappling with this a long time, I've had the fortune of being accepted to my #1 choice private school and my state school both are very reputable schools but now the tough part of making an important decision.

It honestly comes down to guilt and finances,

First off I've worked for 2 years built a great amount of savings living at home and have never had any undergraduate debt, so as of now I'm debt free, owe nothing and have very little to no expenses.

Lets start with the finances: my state school with fees has an annuel cost of ~60k a year with tuition around 15k and an absurd amount of "fees" and my #1 choice private school is around 80-82k a year with 55k tuition, normal "fees". Given that my state schools tuition is very low but "fee's" extremely high I would actually be able to pay the tuition myself there but not the fees, does this cost structure have any effect on financial aid and payment? So there's the numbers and I'm not sure what specialty I would pursue and I don't want to identify schools as there may be a bias but I may eventually.

Emotions/happiness/guilt: I've lived at home a long time, lived in the same city a long time, I really want a change in my life and this private school is very far from New england and has much more affordable living and I have friends at this school and have fallen in love with it and the city it's in. It seems like where i belong, a perfect fit. HOWEVER part of me is very grateful and dedicated to my parents who have graciously offered to help pay a small but useful amount of school. We are not wealthy by any means but my parents will invest in education. I would feel like a selfish dirt bag to just go to my #1 choice private school over a great highly ranked public school that is more affordable. I would feel guilty complaining about debt or anything for that matter. The state school is in a lousy city an hour away that's over priced with not much going on but it's very reputable equal if not more than my #1 choice in ranking.

EDIT: Tulane vs UMass


Please help an anxious man think this out!

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[Cyberdyne 101]

Can you name the schools?

 

[RedSox143]

Can you name the schools?

I would prefer not to for anonymity and people may have bias for or against places. But i may if I have to.

 

[Lucca]

You shouldn't feel guilty about going to X or Y school if it is you that is ultimately taking responsibility for the debt. Either way you pay it. There's no need to feel guilty about that decision.

The real question is: are the benefits of your #1 choice worth 80K (20k x4 years)? How big is the difference in cost of living, enough to make a big financial difference?

Nobody can answer that question but you. Don't make a decision that you will regret forever. At the same time, 80k is a lot of money and shouldn't be sneezed at so make sure that you would be losing something very valuable by attending the state school if you do go with the private.

 

[Long Way to Go]

It seems pretty clear what your state school is, and as far as I know they don't give substantial (or any) grant aid.

Is there any chance you would get financial aid from your private school?

 

[Cyberdyne 101]

I would prefer not to for anonymity and people may have bias for or against places. But i may if I have to.

Well if the reputable private school is Stanford then that would obviously influence people's responses

Regardless, congrats on the acceptances!

 

[SOMBound13]

An "absurd amount of fees" sounds like UMass. That state has limits on tuition, so the "work around" is to charge ridiculous fees.

Giventhat my state schools tuition is very low but "fee's" extremely high I would actually be able to pay the tuition myself therebut not the fees, does this cost structure have any effect on financial aid and payment? So

You might as well combine tuition and fees (in your head) and call it all tuition at any school. FA will not be any different, either way. FA can cover all of Cost of Attendance, which includes tuition, fees, housing, food, personal expenses, and travel.

 

[SOMBound13]

my state school with fees has an annuel cost of ~60k a year with tuition around 15k and an absurd amount of "fees" and my #1 choice private school is around 80-82k a year with 55k tuition, normal "fees".

What is the room and board estimate for each school? and is each SOM in an area with high rent?

 

[RedSox143]

An "absurd amount of fees" sounds like UMass. That state has limits on tuition, so the "work around" is to charge ridiculous fees.




You might as well combine tuition and fees (in your head) and call it all tuition at any school. FA will not be any different, either way. FA can cover all of Cost of Attendance, which includes tuition, fees, housing, food, personal expenses, and travel.

Nailed it.

Well if the reputable private school is Stanford then that would obviously influence people's responses

Regardless, congrats on the acceptances!

It is not a top 20 but probably top 40 or 50.

 

[SOMBound13]

Nailed it.



It is not a top 20 but probably top 40 or 50.

So it's comparably ranked to UMass?

Since you have some savings and some defined amount that your parents will pay, it's really up to you as to how much you want to borrow.

Since you mention that the private is "far away" from the NE, will the weather be a lot better? That's worth something (to me, at least...lol).

BTW....do you have any other possible acceptances out there? Or were these two schools your only interviews?


forgot to mention....deposit at both and HOLD both acceptances. That private may come thru with some merit in April when it is told that you also have a UMass acceptance. So, in the end, cost may end up being about the same.

 

[Lucy Arnez]

Go to the school where you will be happy. You are starting off debt free. Go for it!

 

[Gibbward]

Sounds to me like the private school is what you want to go to, and money is the only issue you have. Have an honest conversation with your parents and tell them how you feel about the issue. Let them contribute however much they want and take out a loan for the rest of the costs. Remember that med school is difficult and crazy stressful. If you think going to the private school is going make your experience easier/more enjoyable, I think you should go for that!

 

[RedSox143]

So it's comparably ranked to UMass?

Since you have some savings and some defined amount that your parents will pay, it's really up to you as to how much you want to borrow.

Since you mention that the private is "far away" from the NE, will the weather be a lot better? That's worth something (to me, at least...lol).

BTW....do you have any other possible acceptances out there? Or were these two schools your only interviews?


forgot to mention....deposit at both and HOLD both acceptances. That private may come thru with some merit in April when it is told that you also have a UMass acceptance. So, in the end, cost may end up being about the same.

It's in the south, much cheaper rent and cost of living. I have 2 other interviews and another private school acceptance.

 

[RedSox143]

So it's comparably ranked to UMass?

Since you have some savings and some defined amount that your parents will pay, it's really up to you as to how much you want to borrow.

Since you mention that the private is "far away" from the NE, will the weather be a lot better? That's worth something (to me, at least...lol).

BTW....do you have any other possible acceptances out there? Or were these two schools your only interviews?


forgot to mention....deposit at both and HOLD both acceptances. That private may come thru with some merit in April when it is told that you also have a UMass acceptance. So, in the end, cost may end up being about the same.

Also how does leveraging acceptances to get more aid from a school actually work? I've heard of it on here but does it actually happen?

 

[whatsupdr]

If its the private I am interviewing at ..no dont go there..kidding..go where you will be happy. Good Luck!!

 

[Cyberdyne 101]

It's in the south, much cheaper rent and cost of living. I have 2 other interviews and another private school acceptance.

Miami?

 

[RedSox143]

Miami?

Actually no but I am interviewing there haha

 

[ChrisMack390]

If you are in state at UMass isn't the tuition like 8,000 dollars? I live in Mass and am continuously pissed off that they don't consider me to qualify for in-state.

If you aren't in state at UMass it was kind of silly to apply as a Mass resident instead of whatever state you graduated high school in.

 

[SOMBound13]

Also how does leveraging acceptances to get more aid from a school actually work? I've heard of it on here but does it actually happen?

You may not have to do ANYTHING. I didn't. I don't remember the date, but sometime around March/April, AMCAS informs the med schools that have accepted you that you are holding multiple acceptances. Then your schools may offer merit. AND, if I remember correctly, your med schools are then told that certain med schools have offered you merit awards.

After I got my first merit award, the other awards came within a week or two.

However, if you don't receive any merit awards (which I think might be unusual since you will be holding at least 3 acceptances), there is a strategy that you could use to possibly get the pricier one that you want to attend to offer something to bring costs closer to your state school. You don't "negotiate," (schools hate that). Instead you present that you really would like to attend (more costly SOM), but your instate option is $XXXXX less per year.

IMHO, private med schools are aware that they're competing with cost of an instate acceptance.


Is the private Miami?

 

[Gibbward]

I'm going to say the private school is Tulane. I would attend Tulane over UMass in a heartbeat. Crawfish, beignets and jazz music!! What more could you want??

 

[RedSox143]

I'm going to say the private school is Tulane. I would attend Tulane over UMass in a heartbeat. Crawfish, beignets and jazz music!! What more could you want??

This guy! Nailed it. Tulane always was and is my #1 choice

 

[RedSox143]

You may not have to do ANYTHING. I didn't. I don't remember the date, but sometime around March/April, AMCAS informs the med schools that have accepted you that you are holding multiple acceptances. Then your schools may offer merit. AND, if I remember correctly, your med schools are then told that certain med schools have offered you merit awards.

After I got my first merit award, the other awards came within a week or two.

However, if you don't receive any merit awards (which I think might be unusual since you will be holding at least 3 acceptances), there is a strategy that you could use to possibly get the pricier one that you want to attend to offer something to bring costs closer to your state school. You don't "negotiate," (schools hate that). Instead you present that you really would like to attend (more costly SOM), but your instate option is $XXXXX less per year.

IMHO, private med schools are aware that they're competing with cost of an instate acceptance.


Is the private Miami?

Oh thats great, didn't know all that happened behind the scenes but it may end up being Miami after the interview , thats a great area. But it is Tulane and I'm currently holding 3 hoping for even more though it'd take a lot to pull me away from Tulane.

 

[Gibbward]

This guy! Nailed it. Tulane always was and is my #1 choice

I say that if it's your #1 choice, by all means go for it. If you're going to spend 4 years working really really hard, you might want to be in an environment where you can really enjoy yourself when you do have down time. I live in Boston and I've been to Worcester only once, but when I went there, EVERYTHING was closed by 7pm! (Though the Palladium was an awesome concert venue if you're into rock music )

 

[RedSox143]

I say that if it's your #1 choice, by all means go for it. If you're going to spend 4 years working really really hard, you might want to be in an environment where you can really enjoy yourself when you do have down time. I live in Boston and I've been to Worcester only once, but when I went there, EVERYTHING was closed by 7pm! (Though the Palladium was an awesome concert venue if you're into rock music )

Yeah that's my whole thing , I like the work/play balance and a place that embraces life outside of school, not that you can't do that in Worcester but I feel like Tulane is a better probably the best fit for school/life balance.

 

[DokterMom]

You've spent enough time in New Orleans to feel confident that it's a city you'd enjoy living in for an extended period of time? Consider carefully the differences between living there and visiting for a fun weekend, and also the differences in the political and public services climate and general social welfare conditions --

But if you're confident - then go where your heart pulls you. In the scheme of things, graduating from medical school with $80K in debt is a pretty good place to be. And if your parents are as reasonable-sounding as you make them out to be, they'll be happy for you and supportive of whatever you decide. They don't sound like the types to get their panties in a wad because you're leaving home. After all, that's what they raised you to do, right?

 

[SOMBound13]

Oh thats great, didn't know all that happened behind the scenes but it may end up being Miami after the interview , thats a great area. But it is Tulane and I'm currently holding 3 hoping for even more though it'd take a lot to pull me away from Tulane.

Ok, well wait. Deposit at all that accept you (deposits are refundable at MD schools), and then sit tight until early spring and see what happens.

 

[Slave to the Game]

I voted #1 private, with the assumption that it's your #1 choice school for a reason. IMO finances won't make much of a difference in the long term, and I've heard some attending physicians express regret over choosing their cheaper in-state school over more prestigious private schools. You should also take into account where you want to be in the mid- to long-term, since there's a significant bias for matching into your own med school's residency programs.

 

[SOMBound13]

I've heard some attending physicians express regret over choosing their cheaper in-state school over more prestigious private schools. You should also take into account where you want to be in the mid- to long-term, since there's a significant bias for matching into your own med school's residency programs.

There's a difference. In this case, the choice isn't between "cheaper in-state" and "more prestigious private". This applicant is choosing between "cheaper in-state" and "similarly ranked but more expensive private". It's not like this student is choosing between UC Davis and Stanford.

Furthermore, there seems to be an assumption in this thread that "private SOM automatically means better." I don't think that assumption should exist when considering SOMs.

I'm not advocating that the applicant should choose his instate over Tulane. I'm just pointing out that Tulane SOM isn't better than UMass SOM. He's in a good place right now with 3 acceptances (and maybe more coming). Likely, when Tulane gets wind of the other acceptances, they'll offer $10k+ per year in merit and then virtually any money concerns will be negligible.

 

[futuremdforme]

You might want to take advantage of "second look" to answer some of these questions and confirm your choice. You might end up with a scholarship too so you don't need to choose now.

ETA: Congrats on all the acceptances! You'll be able to have a great time and get a great education with either choice.

 

[RedSox143]

There's a difference. In this case, the choice isn't between "cheaper in-state" and "more prestigious private". This applicant is choosing between "cheaper in-state" and "similarly ranked but more expensive private". It's not like this student is choosing between UC Davis and Stanford.

Furthermore, there seems to be an assumption in this thread that "private SOM automatically means better." I don't think that assumption should exist when considering SOMs.

I'm not advocating that the applicant should choose his instate over Tulane. I'm just pointing out that Tulane SOM isn't better than UMass SOM. He's in a good place right now with 3 acceptances (and maybe more coming). Likely, when Tulane gets wind of the other acceptances, they'll offer $10k+ per year in merit and then virtually any money concerns will be negligible.

That is correct, UMass is probably similarly ranked if not more prestigious to some. However the overall "fit" is better at Tulane with a higher price tag but UMass price tag isnt great for a state school either so that's why it's tough decision. If those offers of aid come in like you've alluded to the decision gets easier, I'm going to stay positive in the mean time. I'm not sure about where I'd like to do a residency or even what specialty but both seem to have similar match lists.


bottom line is i loved Tulane, it's definitely the best fit and I've never left Massachusetts for more than a week at a time, I do feel its time for a change but it's tough to justify with my conscience and with great programs and hospitals close to home. I really just want to go to Tulane and never look back, but we're all calculated people to a degree and it's not so cut and dry but I do love the encouragement.

 

[DokterMom]

That is correct, UMass is probably similarly ranked if not more prestigious to some. However the overall "fit" is better at Tulane with a higher price tag but UMass price tag isnt great for a state school either so that's why it's tough decision. If those offers of aid come in like you've alluded to the decision gets easier, I'm going to stay positive in the mean time. I'm not sure about where I'd like to do a residency or even what specialty but both seem to have similar match lists.


bottom line is i loved Tulane, it's definitely the best fit and I've never left Massachusetts for more than a week at a time, I do feel its time for a change but it's tough to justify with my conscience and with great programs and hospitals close to home. I really just want to go to Tulane and never look back, but we're all calculated people to a degree and it's not so cut and dry but I do love the encouragement.

Good analysis --
But do also consider the geographical implications of your SOM on your eventual residency. As @Slave to the Game mentions, there's substantial geographic bias towards doing your residency in the same general part of the world as your med school, so be sure you like the South before discarding your connections to New England.

 

[SOMBound13]

Good analysis --
But do also consider the geographical implications of your SOM on your eventual residency. As @Slave to the Game mentions, there's substantial geographic bias towards doing your residency in the same general part of the world as your med school, so be sure you like the South before discarding your connections to New England.

The South is a great place to live. That said, I don't think someone is "discarding their connections" to their home area when they attend med school in another region. Do you say that to all who are considering a med school in another part of the country? Your post smacks of anti-south sentiment.

 

[ChrisMack390]

Multiple people have commented on UMass "not being great" for in state tuition, which is thoroughly confusing me. According to the UMass website, tuition is 8000s and fees are 7000s. There is not another school I know of that is <16,000 dollars.

 

[SOMBound13]

Multiple people have commented on UMass "not being great" for in state tuition, which is thoroughly confusing me. According to the UMass website, tuition is 8000s and fees are 7000s. There is not another school I know of that is <16,000 dollars.

UMass Med Tuition and Fees

Tuition    $8,352

Curriculum Fee    $23,648

Student Support Fee    $195

Equipment Fee    $325

Health Fee    $673

Assessment Fee    $600

Simulation Fee    $200

 

[ChrisMack390]

UMass Med Tuition and Fees

Tuition    $8,352

Curriculum Fee    $23,648

Student Support Fee    $195

Equipment Fee    $325

Health Fee    $673

Assessment Fee    $600

Simulation Fee    $200

Where did you see this? It isn't on their website this way.

EDIT: Also, the MSAR lists COA at 23,000 total.

 

[Doug Underhill]

Personally, I would take UMass at the $33000 figure SOMBound13 links and I would strongly take UMass at the $23000 price tag ChrisMack390 takes. My answer goes a little bit beyond "it's cheaper": the UMass people I've worked with have all been extremely competent and you can tell it's a very strong program. The research at UMass is better and the primary care rankings are higher (while rank isn't everything, it is indicative of strength in that area).

 

[xerei]

You may not have to do ANYTHING. I didn't. I don't remember the date, but sometime around March/April, AMCAS informs the med schools that have accepted you that you are holding multiple acceptances. Then your schools may offer merit. AND, if I remember correctly, your med schools are then told that certain med schools have offered you merit awards.

I thought that schools that you are accepted to can see other schools that you are accepted earlier, like February/March? And then April and beyond schools that you applied to (but not necessarily accepted to) can see schools that you are accepted to? Do I have this wrong?

 

[tartandtangy]

Where did you see this? It isn't on their website this way.

EDIT: Also, the MSAR lists COA at 23,000 total.

It is on their website here. http://www.umassmed.edu/financialaid/currentstudents/tuition-and-fees-new-students/

University of Massachusetts School of Medicine Expected Cost of Attendance 2015-2016

Class of 2019

Tuition $8,352

Curriculum Fee** $23,648

+ Various other fees


Total COA $65,367

 

[tartandtangy]

Multiple people have commented on UMass "not being great" for in state tuition, which is thoroughly confusing me. According to the UMass website, tuition is 8000s and fees are 7000s. There is not another school I know of that is <16,000 dollars.

I think the last time the fees were ~7000 was 09-10. After that they were up to around 15k for the next 3-4 years. This year they are 23k. For the next entering class, I would bank on >23k in curriculum fee.

 

[RedSox143]

Good analysis --
But do also consider the geographical implications of your SOM on your eventual residency. As @Slave to the Game mentions, there's substantial geographic bias towards doing your residency in the same general part of the world as your med school, so be sure you like the South before discarding your connections to New England.

The South is a great place to live. That said, I don't think someone is "discarding their connections" to their home area when they attend med school in another region. Do you say that to all who are considering a med school in another part of the country? Your post smacks of anti-south sentiment.

I'm confused a bit because having worked at the Boston hospitals the majority of residents are from Harvard,Tufts, UMass, surprisingly not as many BU and some UVM but I've heard UMass is well respected in New Enlgand but not as much outside of New england, Tulane seems equally respected everywhere but I work in pediatrics so I doubt thats a good representation of residency in general but I see both points to a degree though I don't believe Tulane would put me at a disadvantage in New england since I grew up here in Boston and still hold many connections, as if a student who is not from the area might benefit more from a New england school I don't believe my residency chances in Boston are at risk for going to Tulane over a New England school as much as other students.

EDIT: I'd like to keep my residency options open across the country

 

[RedSox143]

It is on their website here. http://www.umassmed.edu/financialaid/currentstudents/tuition-and-fees-new-students/

University of Massachusetts School of Medicine Expected Cost of Attendance 2015-2016

Class of 2019

Tuition $8,352

Curriculum Fee** $23,648

+ Various other fees


Total COA $65,367

This is FACT the "in state" price is not great , the overall value is still good! but not as great as it once was, making this situation more difficult. 65k a year is probably the minimum since they've stated the fees are expected to rise.

 

[RedSox143]

Personally, I would take UMass at the $33000 figure SOMBound13 links and I would strongly take UMass at the $23000 price tag ChrisMack390 takes. My answer goes a little bit beyond "it's cheaper": the UMass people I've worked with have all been extremely competent and you can tell it's a very strong program. The research at UMass is better and the primary care rankings are higher (while rank isn't everything, it is indicative of strength in that area).

What about the 65k price tag? just curious.

 

[Nietzschelover]

Looks to me like there is confusion on the cost of attending UMass vs cost of attending PLUS cost of living. If the total number is 65K then it's closer to 90-100K for other schools especially in areas where the cost of living (housing, food, etc) is high.

Bottom line is that you have very good problem.

 

[Doug Underhill]

Yeah, I think the 65K is the total cost that includes cost of living. Am I incorrect?

 

[SOMBound13]

I thought that schools that you are accepted to can see other schools that you are accepted earlier, like February/March?

And then April and beyond schools that you applied to (but not necessarily accepted to) can see schools that you are accepted to? Do I have this wrong?

Your dates are probably more right than mine. It's been awhile, that's why I said that I don't remember the exact dates. I just know that these notifications occur sometime after January. And, I think (could be wrong) that at some point, SOMs are also told which of their acceptees have been offered merit awards from others.

 

[SOMBound13]

@Doug Underhill

Yeah, I think the 65K is the total cost that includes cost of living. Am I incorrect?

You're correct.

The $65k estimate includes approx $22k for rent, food, transportation, and misc costs.

 

[DokterMom]

The South is a great place to live. That said, I don't think someone is "discarding their connections" to their home area when they attend med school in another region. Do you say that to all who are considering a med school in another part of the country? Your post smacks of anti-south sentiment.

I live in the south. But grew up in another part of the country and went to school in yet another region. Politically and culturally, the South is rather different from New England. If you're assuming that pointing that out is anti-south, well -- those are your assumptions.

 

[gyngyn]

You may not have to do ANYTHING. I didn't. I don't remember the date, but sometime around March/April, AMCAS informs the med schools that have accepted you that you are holding multiple acceptances. Then your schools may offer merit. AND, if I remember correctly, your med schools are then told that certain med schools have offered you merit awards.

There is no reporting of financial aid or scholarships.

 

[gyngyn]

I thought that schools that you are accepted to can see other schools that you are accepted earlier, like February/March? And then April and beyond schools that you applied to (but not necessarily accepted to) can see schools that you are accepted to?

We never see where you have applied or where you have been waitlisted or rejected. We can see where our accepted students are holding acceptances in early Spring and later we can see where students we have waitlisted are holding acceptances.

 

[Goro]

You have a gift for understatement, colleague!

I live in the south. But grew up in another part of the country and went to school in yet another region. Politically and culturally, the South is rather different from New England. If you're assuming that pointing that out is anti-south, well -- those are your assumptions.