This question cannot be answered without a resounding (but unsatisfying) “it depends.”
Have you tried the online Net Price Calculators for your son’s top-choice East Coast schools? Although I always take NPC results with a block of salt, they can be a good starting point if you want to get at least a ballpark sense of what your family contribution is likely to be.
<p>If your son is admitted to any of the snazziest of the East Coast colleges, and you are indeed a family of very limited means, he may receive an excellent financial aid “package” which could include very little loan or even no loan at all.</p><p>So before losing too much sleep over the decision, I advise you to …</p><p><strong>a. Do the Net Price Calculators to see if this helps to allay your fears</strong></p><p></p><p><strong>b. Wait until your son has his admission verdicts (and I realize this isn’t easy)</strong></p><p>While I certainly agree that you don’t want your son to be burdened by debt when he graduates, especially with med school ahead of him, the opportunity to attend a top college or university with an international student body (and reputation) could justify taking on <em>some</em> debt because of the value of the broadening experience and of the lifelong contacts it will provide.</p><p>On the other hand, if he attends the local public university, he may be in a better position to stand out in a crowd and snag the juiciest research gigs and internships which, in turn, will fortify his med school applications down the road.</p><p>But it’s really impossible to provide accurate advice without knowing exactly where your son has been admitted and exactly how much debt he may have to take on.</p><p>Keep in mind, too, that it’s not too late for your son to consider some <em>other</em> colleges where he may be a contender for big merit bucks … places that would allow him to travel out of state but without accruing debt. These colleges may not offer the prestige of the most sought-after institutions, but they could provide a broadening experience along with the chance for you son to stay on track for med school.</p><p>Please write back again when your son receives his full list of acceptances and aid awards and remind me of our exchange today. Once your son has his actual decisions … and dollar amounts … in front of him, I can advise you more responsibly.</p><p> </p><p></p></article></div><p></p><p></p></div><p></p><p></p></div><p></p><p></p><div class="sc-jKmXuR dQXchq"></div><p></p>
Keep reading
Show less
