I need advice on which college to attend.

[Nelcovp]

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I was accepted to both Midwestern University (rank 78) and the University of Arizona (rank 9). I know these ranks are based solely on the amount of money they get for research (I was told this at UA).

Anyway, while UA is my top choice, I don't think I can go there. I'm a nontraditional student working on a new career. I bought my house in Phoenix in 2002 for $400k. I have 7 years left on my mortgage and currently owe $112k. For me to go to school in Tuscon (2.5 hour drive) I'd have to relocate. Relocation means one of two things: 1) selling my house or 2) renting it out.

I had my house appraised recently at a pathetic $240 - $250k. Selling my house now would mean taking that $150k loss. I cannot rent the house out a price that will cover the mortgage either. While not taking the astronomical loss if renting, I will have to pay out of pocket the difference plus my living expenses in Tucson. And lets not forget moving sucks and can be costly too.

On the opposite side, I can stay where I am and attend Midwestern which is literally 10 minutes from my house. Going here allows me to stay in my house, and when I finish school only have a few years left on my mortgage.

UA is $22k per year for 4 years.
MWU is $43k per year for 3 years.

Going out 5 years from now...
UA
-88k tuition 4 years
-150k house loss
+100k first year salary
-138k total
MWU
-129k tutiton 3 years
+100k first year salary
+100k second year salary.
+71 total

The salaries are arbitrary because I keep them the same in both scenarios.

Basically, going to the better ranked school is going to cost me $209k more than going to the lesser ranked school. I'm having a VERY hard time justifying the cost different based on these rankings. Do they matter enough to justify getting financially destroyed?

It's probably important to know that I am NOT interested in getting into research. However, I am interested in getting into compounding and MWU has a functional compounding pharmacy on campus.

Thoughts?? I currently change my mind about 20 times a days as to which school I will attend.

 

[rxlea]

It sounds like MWU is the more practical option for you. Taking out the financial factor, what school did you like better? If everything else is equal, then go the cheapest route.

With that said, UA is an amazing school with many opportunities and a strong, established network. The curriculum is challenging and while there are days that make me want to cry (literally...no shame here!), I am extremely happy with the education I'm receiving. Quite frankly, we are learning from some of the best in their field. Having the UMC next door with a progressive pharmacy practice, the medication management center and poison control center (run completely by pharmacists/interns) on the third floor of our building, numerous opportunities to collaborate or take classes with other health professions students, many dual degree programs, and amazing rotation sites, is pretty damn cool. I'm biased obviously...

But, you saw what we had on your tour. I guarantee you, that was just the tip of the iceberg of opportunity. Coming into this program, I had high expectations but even those were surpassed. I had no idea I could do all the things I'm doing now. Having such a highly regarded, accomplished, and supportive faculty is the bonus...not to mention the overall "college culture".

Tucson is a college town. Has the amenities of a big city with the small town feel. You run into people you know at places all the time. Yet, when tucson holds its many events throughout the year, the community is full of diverse people with varied interests. Many are tied to the university or the medical community in some capacity. there is always some cool lecture or conference going on too. Plus, people get really riled up for sporting events and you feel the camaraderie...something I felt was lacking when I lived in Phoenix.

Hard choice, I know. I had to choose between my top choices. It was excruciating. Go with your gut. I do find it interesting that your entire post leans pretty much in favor of MWU...but something is holding you back, huh? That little tug from a thread.. lol

Plus, if you come here, I can show you the ropes, introduce you to some people, and basically help make your life a bit easier...something I wish I had when I started here.

Let us know what you decide! 🙂

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[farmadiazepine]

MWU .. The better choice. Its also more practical for you. And in the end, when you're all done with school, this nonsense ranking of #9 vs #70-something won't matter. Be smart and pick MWU.

 

[npage148]

I think using the "loss"'on the house is kind of silly (you won't get upaet when you sell your used car at a "loss"). you are not upside down and If you sell it now you're still making 100k+ on it. Plus what will the market do while you are in school? Wha if after it's only worth 150 and you have to move to find a job. I say dump it and go to UA which is a better school with cheaper tuition.

 

[Dr Wario]

Having the loss of your house in the equation is a misrepresentation because you have already incurred the loss. This logical fallacy is fairly wide spread, so let me try to put it a different way which may make it more clear. Imagine you purchased stock of XYZ company 2 years ago at 50/share and it is currently worth 30/share. What you are saying is that you should hold on to the shares so that you won't incur the loss of 20/share. The reality is that you have already lost 20/share and now you must decide what is the best strategy to employ for the 30/share that you have remaining. (As a slight side note, in the above example you could claim the loss on your taxes, however loss on a primary residence is excluded as a deduction under current IRS regulations)

In reality, your house loss equates to the commission paid for selling your home plus any moving expenses you incur plus the difference between your current housing cost and your housing cost at the new location. Thus your true housing loss would be closer to $20,000 instead of the 150,000 you mentioned. I'm not attempting to steer you toward either option, I just want you to have the correct values for the variables used to make your decision.

I also believe you are slightly under-representing the value of the extra year of income potential, but only you can determine this number accurately according to your unique situation.

 

[confettiflyer]

Plus, if you come here, I can show you the ropes, introduce you to some people, and basically help make your life a bit easier...something I wish I had when I started here.

meeting rxlea would be worth the extra $200k 😍😍😍

 

[rxlea]

meeting rxlea would be worth the extra $200k 😍😍😍

😍

I'll be at APhA if you're going 😉

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[Nelcovp]

It sounds like MWU is the more practical option for you. Taking out the financial factor, what school did you like better? If everything else is equal, then go the cheapest route.

Hard choice, I know. I had to choose between my top choices. It was excruciating. Go with your gut. I do find it interesting that your entire post leans pretty much in favor of MWU...but something is holding you back, huh? That little tug from a thread.. lol

That thread is wrapped around my neck and choking the life out of me. I know getting into UA was a major accomplishment and I don't want to wonder if I made the wrong choice. I saw a tiny bit of both schools so choosing based on what I "like" is difficult. I will say this.... while touring UA I felt like I was not in a school but a research facility. To give you a better answer, if my house wasn't an issue I would go to UA.

I also understand my house has already lost its value. However, the loss doesn't seem to become "real" unless I sell. I could sell now, pay the bank what I owe, then buy something small in Tucson outright. After school I'd be mortgage free and own a $125k house. Without selling, after school I would be mortgage free in 3 years and own a $240k house. Maybe I'm just scared s**tless over the massive change my life is about to take.

This cheered me up though.

meeting rxlea would be worth the extra $200k 😍😍😍

 

[rxlea]

That thread is wrapped around my neck and choking the life out of me. I know getting into UA was a major accomplishment and I don't want to wonder if I made the wrong choice. I saw a tiny bit of both schools so choosing based on what I "like" is difficult. I will say this.... while touring UA I felt like I was not in a school but a research facility. To give you a better answer, if my house wasn't an issue I would go to UA.

I also understand my house has already lost its value. However, the loss doesn't seem to become "real" unless I sell. I could sell now, pay the bank what I owe, then buy something small in Tucson outright. After school I'd be mortgage free and own a $125k house. Without selling, after school I would be mortgage free in 3 years and own a $240k house. Maybe I'm just scared s**tless over the massive change my life is about to take.

This cheered me up though.

Come to the U. You'll find a nice place in Tucson, have a great 4 years at an awesome institution, and through some networking and great experiences, you'll probably find a job and the house will be a memory. DO IT. I've even got a stash of study guides and useful tips to share with you Plus, I'm tight with a lot of the faculty. I'll hook you up 👍

 

[owlegrad]

^Hard to beat an offer like that!

 

[owlegrad]

Moving to prepharmacy.

 

[confettiflyer]

😍

I'll be at APhA if you're going 😉

Sadly no, I won't be swinging that way.

Har har 😀

 

[usechopstix]

seeing the direction pharmacy is headed towards, i was cautious to go to a well known school as a best bet against saturation in the job market. however, i could be wrong. if you were in any other situation, i would urge arizona but i do believe MWU is probably better for you in the long run

 

[kacelynn]

Does anyone have any helpful information about whether or not I should attend MWU in Chicago, or SIUE in Edwardsville. I am accepted to both and like both schools. At a loss.😕