Are you being serious are sarcastic? I was going to post about this at some point. It might as well be now.
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.