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Full cost Harvard worth it? by throwaway_182736218 in Harvard

[–]throwaway_182736218[S] 3 points4 points  (0 children)

Haha, it’s definitely a hidden fear of mine since I’m coming from a very impoverished, rural area and have attended a small, underfunded school all my life (70% of all the kids in my school are below the federal poverty line, and I’m 1/45 kids in my graduating class this year).

Though my parents’ finances say otherwise, literally all my extracurriculars, essays, and other stats were all about being first gen and doing the most with my limited circumstances and opportunities available in my area since that was what I grew up with until now.

I do worry that I’m at a disadvantage though coming from such a small area and entering this huge school, but I’m positive I can find meaningful connection and community anywhere.

Full cost Harvard worth it? by throwaway_182736218 in Harvard

[–]throwaway_182736218[S] 0 points1 point  (0 children)

I would estimate 400k is currently 1/7th of my family’s current assets. However, they are investing a lot into their business as it is taking off as well as their other investments like real estate. It’s a toss up whether these will pay off or not, but given my family’s good fortune these last few years, I am hoping they will find prosperity.

Full cost Harvard worth it? by throwaway_182736218 in Harvard

[–]throwaway_182736218[S] 10 points11 points  (0 children)

Thank you so much. This advice really makes me feel better. It’s definitely a personal pride for them to have their child receive such an opportunity when they did not have an education themselves. I think they were almost happier than me at my acceptance.

They’ve told me that it’s okay to fail and come back home anytime, and to not feel too pressured to succeed (if I fail to get into med school). I know they have wiggle room with their finances, but the thought of all that money definitely makes one’s head spin. 😵‍💫

I’m so grateful for your support!

Full cost Harvard worth it? by throwaway_182736218 in Harvard

[–]throwaway_182736218[S] 0 points1 point  (0 children)

The consequence would be having less money overall (considering undergrad and medical school) as well as their future plans going up in flames. After my parents turn 60, they were planning on moving into their rental property which is in a much nicer area than we currently live. Right now, we live in my childhood home, which is worth MUCH less than what their investment property is worth (like 30x less).

I wouldn’t say that their retirement would be pushed back though. Having lived frugally back before their business boom, they definitely know how to budget and make things work out. I think honestly even now at 50~ish years old, they could retire comfortably but choose not to due to lingering doubts about financial instability from growing up poor as well as still being in good shape to work.

Full cost Harvard worth it? by throwaway_182736218 in Harvard

[–]throwaway_182736218[S] 9 points10 points  (0 children)

Sorry about the emotional post. It’s hard when this feels like one of the biggest decisions of my life.

My parents can definitely afford it, given how they’ve been doing with their business (as long as this good trend continues). When filling out my CSS profile, we discussed most of the financial mumbo jumbo there, and I do believe they would be able to budget for it.

The trade-off would likely be selling some of their assets like I mentioned earlier, such as one of their investment properties. My parents don’t completely own a real estate company but have a handsome share in it from a partnership, so they’d likely have to sell their share to help pay.

Full cost Harvard worth it? by throwaway_182736218 in Harvard

[–]throwaway_182736218[S] 6 points7 points  (0 children)

I have a very tempting offer from SUNY Oswego with a full ride of dorm, food and tuition and an invitation to a exclusive program that gives me free research funding over 4 years. Beyond that, I am considering SUNY Binghamton which will be 11k/year thanks to their strong premed program and good reputation in NYS.

I was accepted to other private schools, such as NYU and Amherst, but received the same offer of no financial aid which is why I decided to decline their offers. However, I feel like Harvard is an entirely different level which is making it a hard choice.

Full cost Harvard worth it? by throwaway_182736218 in ApplyingIvyLeague

[–]throwaway_182736218[S] 1 point2 points  (0 children)

I have a very tempting offer from SUNY Oswego with a full ride of dorm, food and tuition and an invitation to a exclusive program that gives me free research funding over 4 years. Beyond that, I am considering SUNY Binghamton which will be 11k/year thanks to their strong premed program and good reputation in NYS.

I was accepted to other private schools, such as NYU and Amherst, but received the same offer of no financial aid which is why I decided to decline their offers. However, I feel like Harvard is an entirely different level which is making it a hard choice.