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Don't overlook public colleges and universities in other states, though. There are many deals out there at public schools that are ranked much higher than UMASS.
This is a tough question since there are a lot of options and a lot of variables. I agree with those who say UMass is a good deal, and also with those who point out that private schools can offer a good deal depending on the financial aid package.
UNC is a great school but a bit pricy, if still good value for the quality, for out of staters. It's also tough for out of staters to get in. Same for Michigan, U.Cal., etc.
Another option is something like UConn or UVM, UNH. UConn, I know, offers some kind of semi-resident tuition rate for Mass. residents. I don't think it's as low as CT resident tuition, but it's less than normal out of state. And UConn is not that far from Franklin, but far enough to get the kids out in the world.
UMass Lowell is indeed terrific for engineering. I think it would be much better known if MIT wasn't down the road.
A friend of mine's two kids just finished engineering at UMass Dartmouth. The older boy just got a great first job in Franklin. They seemed very happy with the program in general down there, not just engineering, and I believe got a good education.
Another option is something like UConn or UVM, UNH. UConn, I know, offers some kind of semi-resident tuition rate for Mass. residents. I don't think it's as low as CT resident tuition, but it's less than normal out of state. And UConn is not that far from Franklin, but far enough to get the kids out in the world.
Apparently this only applies if the student is a degree program not available in the student's home state, so it may be of limited use.
Future Students - University of Connecticut (http://www.admissions.uconn.edu/tuition/regional.php - broken link)
having grown up in Mass it was cheaper for me and most of my friends to attend private colleges than attend state schools because of financial aid. Don't rule out a school because of the sticker price.
Yes... but the gap is getting bigger and bigger... Most private colleges are around $40-45K a year in Boston. Basically, you buy a new car every year even with aid.
Quote:
The Cost of College Continues to Increase While Average Pell Grant Decreases - Democratic Policy Committee.
The cost of attending college continues to rise faster than inflation. The College Board report found that tuition, fees, room, and board costs increased by $681 at public four-year universities and by $1,624 at private four-year universities during the 2006-2007 school year. While this year’s increase is similar to last year’s, the cost of attending college has risen substantially over the past six years.
The cost of tuition, fees, room, and board at public four-year universities has increased 52 percent, from $8,439 in 2000-2001 to $12,796 in 2006-2007 (in current dollars); and
The cost of tuition, fees, room, and board at private four-year universities has increased 37 percent, from $22,240 in 2000-2001 to $30,367 in 2006-2007 (in current dollars).
Despite rising college costs, federal Pell Grants actually declined. Student aid can help cover some of the cost of attending college, but this aid is not keeping pace with rising costs. The College Board found that, not only did the average Pell Grant fail to keep pace with the rising cost of college, the average Pell Grant award actually decreased by $120 per person during the 2005-2006 school year. This is the first decrease in the average Pell Grant award in six years, when the average Pell Grant decreased by $25 in 1999-2000.
Total expenditures on Pell Grants decreased from $13.6 billion in 2004-2005 to $12.7 billion in 2005-2006;
The average Pell Grant per recipient decreased from $2,474 in 2004-2005 to $2,354 in 2005-2006; and
The maximum Pell Grant ($4,050) will cover only 33 percent of the cost of tuition, fees, room, and board at the average public four-year university in 2005-2006.
Students and parents are having to borrow more than ever before. Without adequate federal grants, students and their parents must rely more on student loans to finance their college educations. More than 60 percent of undergraduates at four-year colleges have to take out loans, and the average amount of federal student loan debt upon graduation has increased from approximately $7,650 in 1992-1993 to $17,400 in 2003-2004. When private loans are factored in as well, average student loan debt in 2003-2004 was more than $19,000. (National Postsecondary Student Aid Study 1993 and 2004, National Center for Education Statistics)
Even with student loans and work-study programs, students can be confronted with thousands of dollars of unmet financial need that they simply cannot afford to pay. Each year, more than 400,000 low- and moderate-income high school graduates who are fully prepared to attend a four-year college do not do so because of financial barriers. About 170,000 of these students will attend no college at all. (Advisory Committee on Student Financial Assistance, June 2002)
Student debt can deter some graduates from pursuing public service careers such as teaching and social work. Pursuing these modestly paid but essential careers would leave some graduates with an unmanageable level of student debt. (State PIRGs’ Higher Education Project, April 2006) The most recent National Student Loan Survey found for the first time that the probability of owning a home decreases as student debt levels increase. (Nellie Mae Corporation, February 2003)
I will definitely look into the Adams scholarship. One thing is true about my kid: he struggles with organization, which brings about his B's (and the occasional C), but he is a brilliant test taker. I don't think he would have a problem scoring in the top 25%, so I am very excited. Thanks, and keep those ideas coming.
Lorilou
I work in higher ed in Boston as well. It's absolutely true that you can't tell how much a school is really going to cost you solely by the sticker price. The best thing to do is apply to places your kids really want to go and wait to see what kind of financial aid package is offered if they are accepted. Just fill out the FAFSA early.
That said, I would also look at schools like Suffolk University and Simmons as well as U Mass Amherst. It really depends what kind of majors your kids are interested in. And I would also not worry as much about the Cs. depending when they were earned and in what subjects, it may not have as much of an impact as you think. For instance, a kid intending to major in art that has a C in algebra from 7th grade really doesn't have much to worry about. Anyway, good luck!
I wouldn't worry about the C's. I was a mostly B student w/more C's than A's, but I still got into a tier-1 school (according to US News). i also agree that out of state tuition at a public school (i went to one in the southeast) can be very reasonable if you earn too much money to get financial aid. however, you could easily qualify for a lot of financial aid if you do end up at a local private school even if you are earning over $100k/year.
Basically, there is a thing call Expected Family Contribution (EFC). This is what you and your family is expected to pay. All colleges use that (the formula may vary a little depend on the college... but the numbers are usually close.) The major factors are parent income, parent asset, student income and student asset.
parents liquid asset starts to count after $44,500.
Student is expect to contribute 50% of his income. Parents income contribute less percentage.
On federal calculations...
If parent has $100K income and $100K stocks, you'll going to be expected to contribute $20-30K.
If parent has $100K income and $0 stocks, you'll going to be expected to contribute $15K.
For Private school calculations... you need to add home equity... since houses here are so expensive... if you have $200K home equity...
If parent has $100K income and $0 stocks, you'll going to be expected to contribute $24K. More if you have liquid assets.
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