Sydnie
Should I attend a private or public college/university?
I know that public colleges in Illinois are required to accept 3's on AP exams, which I might have gotten, but I also hear that private colleges can offer more financial aid.
At which type of college would I end up saving more money? #financial-aid #ap-exam
2 answers
Rebecca Ray
Rebecca’s Answer
I am unable to offer you help with the academic decision. I can give you some direction on reviewing costs. When you are comparing college costs it is important that you watch what type of aid you are getting. Look for grants and scholarships - these do not need to be paid back. Watch for aid packages with loans since they will have to be paid back once you are no longer enrolled in classes. Federal Title IV Pell Grant is an entitlement so if you qualify you get the same amount which ever institution you attend. Be aware and watch the numbers. Good Luck
Lori Brown
Lori’s Answer
Following on Rebecca’s answer - your best bet would be to apply to the key schools you are interested in regardless of whether they are public or private. If you get accepted, then they will send you their financial aid package so you can really compare numbers. As Rebecca mentioned above, not all type of aid are created equal since loans must be repaid. For me, I received offers from one private school and one public school that were comparable, and one private school that was $30,000 per year in grants and scholarships, but would still require another $20,000 per year in loans!! So you really are looking at what your out-of-pocket costs would be (basically the total expected yearly cost minus any grants or scholarships - that’s the amount you’ll have to make up either with taking out loans or paying as you go).
One other thing that should play into your decision is what program / major you are really interested in - private is not always better and the extra money may or may not be worth it in the long run. I recommend researching what schools are well-regarding for the program you are interested in and start there, regardless of whether they are private or public. If you are not quite sure what you would like to study, you may be better to at least start at a public school to explore your options.
college-selection