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  #1  
Old 12-11-2013, 04:48 PM
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I'm proud of my daughter...

She just received an acceptance letter to Wittenberg University, along with a scholarship for $20,000 per year for 4 years due to her grades. While that is great, the school is quite costly...$196,000 over 4 years type of expensive...and they want a non-refundable $500 application fee paid within the next two weeks. Being on a fixed income, that's a bit steep to come up with in a short time...especially at this time of year.

Luckily, she's decided that Wittenberg may not be for her, and that a good state college would fit her needs just as good. She's looked at Wright State University, and believes they can offer the same, if not better, opportunity in education.

BTW...she wants to major in Economics.

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Old 12-11-2013, 04:58 PM
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$500 application fee? Haven't heard of that kind of price before. Martin Luther wouldn't be happy.
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  #3  
Old 12-11-2013, 05:07 PM
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It's not actually an application fee...I don't have the letter in front of me as the girl child is floating around the house with it at the moment. I guess you could call it a promisary fee?? I honestly can't remember what they called the fee, but I'll have the letter back in my hands in the next hour.
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  #4  
Old 12-11-2013, 05:09 PM
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Quote:
Originally Posted by kerry View Post
$500 application fee? Haven't heard of that kind of price before. Martin Luther wouldn't be happy.
That's how you keep the riff raff out.
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Old 12-11-2013, 05:19 PM
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I just got it back from her...$500 Enrollment Deposit.
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  #6  
Old 12-11-2013, 06:00 PM
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Congrats to her. Sounds impressive if cost is any indicator of quality. I cannot even contemplate the idea of forking over $200k for an education but I guess that is grist for another thread.
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  #7  
Old 12-11-2013, 06:13 PM
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Excellent. Please pass along congratulations!
Sounds like in addition to working hard and getting the grades, she also has that rare quality of common sense... Weighing the pros and cons of the more expensive and prestigious school (which would be a financial hardship on the family) against the state university education with considerably less fanfare is a difficult task. Deciding that the less glamorous and more feasible path is right for her is quite mature and responsible,. I think I would be just as proud of that as of the excellent grades and scholarship.
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Old 12-11-2013, 06:16 PM
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Originally Posted by davidmash View Post
Congrats to her. Sounds impressive if cost is any indicator of quality. I cannot even contemplate the idea of forking over $200k for an education but I guess that is grist for another thread.
I told her that if that school is her wish, that she will have to qualify for more scholarships and grants...that at most, I may be able to assist on books. There's no way in hell I can afford to help enough to make a dent in that kind of tuition.

It didn't take much to get her to see the cost of this level of education...a 10 minute talk with her uncle did much more than I could have alone. He's still $60k in debt on student loans.

She just told me that the local community college is looking real attractive.
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Meet on the level, leave on the square. Great words to live by

Were we directed from Washington when to sow and when to reap, we should soon want bread. - Thomas Jefferson: Autobiography, 1821.
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  #9  
Old 12-11-2013, 06:21 PM
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My son won many scholarships and grants in addition to winning the Academic Excellence award from his tribe, worth up to 20K a year by itself. He also won a state tuition waiver to any of the three instate Universities. While he could have pretty much afforded to go anywhere he chose, he decided to stay in state and take advantage of the waiver. I am of the opinion that a university education is what a kid decides to make of it.
She'll make the right choice. She's looking at being able to get a 4 year degree and graduate debt free, unless she decides to go to Wittenburg. In this day and age that's HUGE. A degree is NO promise of future employment.
Congratulations!! You should be so swelled up with pride you're about to pop.
I know how I'd advise her......
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Old 12-11-2013, 06:24 PM
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Congrats!
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  #11  
Old 12-11-2013, 06:36 PM
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Congrats to her!

Also being debt free when you get out, or having only a low amount of debt is a great goal.

Working in the housing sector I get to see a lot of un-mortgageable younger couples with great jobs but six figures of college debt. Essentially what that kind of debt does is put your life on hold in terms of buying a house, nicer cars, and starting a family for about 10-15 years.
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  #12  
Old 12-11-2013, 06:36 PM
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This is the same child that nearly flunked out her freshman year when she was with her mother. She has really turned her grades around...and is making something out of herself.

Just last week, she was offered an intern position at corporate level at the company she works for...in the accounting office. She works for RUE21, a low cost young adult fashion store located in many malls in many states. Corporate is just up the road, and their office heads are in her store quite often. Her efforts and talents have been noticed by a number of people at the corporate level. Twice now, her store manager has been approached about her moving to management...each time they have to be reminded that she's only 17.

She's told them of her intention to move to Ohio with us in the summer, and has already been told that all she has to do is chose a store, that there will be a job for her. She's going to take the intern position after the Christmas shopping season...we'll see what her future looks like from there.

Yeah...my chest is swelling and it's hard to keep the buttons on my shirts.
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Meet on the level, leave on the square. Great words to live by

Were we directed from Washington when to sow and when to reap, we should soon want bread. - Thomas Jefferson: Autobiography, 1821.
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  #13  
Old 12-11-2013, 07:07 PM
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You're moving back to Ohio, right? How about The OSU?
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  #14  
Old 12-11-2013, 07:14 PM
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Quote:
Originally Posted by KarTek View Post
You're moving back to Ohio, right? How about The OSU?
She said that would be her ultimate dream come true...
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1987 560SL
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Meet on the level, leave on the square. Great words to live by

Were we directed from Washington when to sow and when to reap, we should soon want bread. - Thomas Jefferson: Autobiography, 1821.
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  #15  
Old 12-11-2013, 07:31 PM
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Congrats to her!

Any undergrad degree that leaves you with more debt than one expects to earn in the first year as an entry level professional is a bad ROI in this market.

She is certainly a lot wiser than most others. Most of the new hires in my industry (finance/banking) hold MBAs, CPAs and CFAs...and don't typically earn more than $65k starting salary. A lot of them are in debt considerably over a $100k and anticipate it will take them over 10+ years to pay off those loans. That's a lot of money that can be used towards other "life setting" goals, like buying a house, car and kids when life after college begins.

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