Is Notre Dame or Northwestern worth the coin over UM? $60K vs $30K

Submitted by diag squirrel on

We all love and appreciate what UM has done for us. My sister's son was accepted last month, and he has a really good shot at ND and Northwestern too. I don't think he has any idea what he wants to study, so far he's just really well rounded. I know my sis and BIL will come to me and ask if the $30K per year premium over UM's in-state is worth it for that status badge. Even as an alum, it's a really tough question to answer. I know for a fact Notre Dame is nearly impossible to get into if you're not a legacy.

I'm sort of responsible for getting him hooked to even caring about NU and ND in the first place. I visited the campuses with him when he was in 9th and 10th grade, as I figured if he shot for them, he'd be a lock for UM. It worked, but he tried so hard that he has a very legit shot at both ND and NU, which kind of blows me away.

Is there a $XXXK household income threshold you should be at where this decision is a non-issue? e.g. under $200K go to UM, $350K+ let the kid go where he wants?

jcgold

January 28th, 2015 at 6:39 PM ^

I'm a ross undergrad and MAcc alum, and from what I recall the master in accounting program has an 80-90% big 4 placement rate. And that despite the fact that Ross doesn't have an undergraduate accounting program. 

I can't speak to Northwestern or ND as I didn't go there, but Michigan has an excellent program in nearly everything, and on cost/prestige alone, it would be hard to pass up in state, with the exception of certain programs specifically (ie Journalism). I will say that from an alumni relations/connections standpoint, ND is equally as strong and would not discard it on those merits alone.

diag squirrel

January 28th, 2015 at 6:46 PM ^

@jcgold Curious, why you bothered with the fifth year for the MAcc? Ross alone punches you a ticket to Big 4, consulting, a bulge bracket bank. The opportunity cost for a Ross grad to pick up a MAcc seems too high. That year to get the MAcc was probably north of $100K (median Ross first year salary + cost of MAcc program). And MAcc starting salaries are lower than Ross BBA salaries. Were you seized with becoming an accountant or is there something I'm missing? Seems like LSA -> MAcc would have been an easier path, no?

jcgold

January 29th, 2015 at 12:09 AM ^

Agree with you in hindsight that LSA to MAcc would have made more sense, and that moves could have been made that were more financially reasonable. My interest was largely in finding a corporate finance role entering Ross, and eventually going back for an MBA. I-Banking hours were too much for me and I never really had a strong interest in consulting. And then the recession hit and corporate finance jobs largely disappeared, even at Ross. I landed on my feet at a big 4 internship in tax, which meant a full time offer was waiting for me on the condition that I complete the MAcc (Ross doesn't even offer enough undergrad accounting classes to be licensed as a CPA). I now work in international tax and really enjoy what I do. Furthermore, I was able to transfer to another office when my fiancée was admitted to a PhD program, flexibility I wouldn't have necessarily had in I banking or consulting.

No doubt that the MAcc absent my above factors have an opportunity cost of a years salary, plus tuition. I know that going forward tuition will now be at a lower MAcc rate, and the program has a history of awarding substantial scholarships to everyone who applies (15-20k). But I will say that the growth I've seen in both my salary and career have put me back on pace with my corporate finance colleagues. If I did it again, I'd likely skip Ross as an undergrad and go straight from LSA to MAcc.



Sent from MGoBlog HD for iPhone & iPad

wayneandgarth

January 28th, 2015 at 6:04 PM ^

All three are tops academically but Michigan really is so well rounded across all academic disiplines that I'd find it tough to imagine under any field of study NU or ND would be worth $30K a year more. 

If he thinks that Engineering may be his route, then Michigan is definately better across most Engineering fields.  But, in essentially all other areas, it is not behind regardless.

Unless the family is very, very well off (whereby he should go where he feels he fits best), Michigan is going to be the way to go. 

SAMgO

January 28th, 2015 at 6:05 PM ^

Notre Dame isn't better academically than Michigan. It gets a rating inflation because of the nationwide infatuation of the institution that Catholics give it, but Michigan's programs generally outclass those at Notre Dame and the plentiful research opportunities at Michigan aren't even comparable to Notre Dame. Michigan's business and engineering also are better than Notre Dame's. Northwestern probably has a slight advantage for sciences and liberal arts, but again for business (which NU doesn't even offer at the undergraduate level) and engineering I'd take Michigan regardless of cost difference. Whether or not 30k a year is worth it for one school over another is always a decision personal to a family, but don't short change what UM offers (especially over ND).



Sent from MGoBlog HD for iPhone & iPad

SAMgO

January 28th, 2015 at 6:24 PM ^

Well I'm clearly generalizing, obviously there are going to be plenty of exceptions and I'm glad you're one of them. That said, circumstantial evidence doesn't discredit the notion that ND is largely revered nationwide by Catholics and that bias artificially inflates their ranking past where they actually perform academically.

Autostocks

January 29th, 2015 at 8:57 AM ^

Sorry, I don't think it's even generally true.  I think that Catholics, like people of all faiths and no faith, probably favor the school they attended over all others, which was the case with my parents and with me and with my kids - all of whom are Catholic Michigan alums.

And it's not like ND is the only Catholic school around.  In fact, I think there are other Catholic universities that do a much better job of following church doctrine than does Notre Dame.  There are plenty of Catholics I know who favor Jesuit institutions like Boston College and Georgetown over ND.

Ray

January 28th, 2015 at 11:44 PM ^

However I have a good friend who married a Catholic woman and who took instructions in the Catholic faith. This was 30 years ago. He and his wife-to-be were both U-M alums, and when the priest teaching the class asked if there were any questions, my friend raised his hand. "Father," he said. "Is it still ok to really, really dislike Notre Dame?" The priest, also a big Michigan fan, said "of course it is."

Autostocks

January 29th, 2015 at 9:01 AM ^

Had a young parish priest once celebrate a Michigan victory over ND by telling the congregation on Sunday that Michigan "opened a can of whoop-ass" on them, which my young kids thought was hilarious and have never forgotten!

oriental andrew

January 28th, 2015 at 6:06 PM ^

UM in-state tuition is about $13k a year. Notre Dame full year is about $26k. Nowhere near a $30k premium. In fact, ND is about $15k less than UM out of state tuition. Figure room, board, books, fees, etc. are a wash. 

Northwestern is about $15k/quarter, with 3 quarters per year getting you to about $45k/year. Again, other stuff considered a wash.

I'd say cost is certainly a factor for the parents (and maybe the kid, depending on the loan situation). But a big factor, too, has to be the experience. All three are vastly different from each other in terms of culture, environment, and experience. If all three are relatively close in terms of desired major/program, weigh how much the school vs. cost matter.

College trips are most certainly in order, maybe even having a host for a night/weekend at each respective school. Make sure the kid and parents are prepared with questions of what they're looking for, aid available, etc.

Michigan_Caltech

January 28th, 2015 at 6:06 PM ^

As stated previously, it really depends on what your son wants to study. Michigan absolutely blows ND out of the water (and has an edge on NW) when it comes scientific research. I was a physics and mathematics major at UM and did summer research at ND one year. There was no comparison. Even the professors at ND bemoaned their existence at a school that doesn't emphasize research. If your son wants to go into math or science, don't go to ND. NW and UM are pretty close, but I'd give the biased edge to UM.

I'd also obviously give UM the edge when it comes to any type of engineering.

If your son wants to be a history or anthropology major, you can make the case that ND or NW degree might be better.

If your son wants to be a lawyer or doctor, UM has top ten schools in each.

sadeto

January 28th, 2015 at 6:06 PM ^

Short answer: no, not at all. Long answer depends on financial aid and what the real difference is in the end; what he'll major in and what he might wind up doing. If the aid packages still leave a 30k gap, no way. And if he winds up majoring in something requiring the resources of a major research university, ND will not be close. 3 graduates come here to New York with the same degree and same personalities from these 3 institutions, they probably wind up making about the same, but if he plays the alum network right the Michigan grad will have a job before the subway seat under his ass gets warm. 

pkatz

January 28th, 2015 at 9:41 PM ^

Lesser Ivies? I think that depends on what you intend to study... my son just choose Cornell Engineering because it is the top Ivy in that category and offers a more competitive environment than the other schools he applied to, including UM, Northwestern, Tufts and UVA. He also looked at Yale and Dartmouth, but did not like their approach to engineering.

JamieH

January 28th, 2015 at 9:56 PM ^

No offense to your son and his choice, but based on value, I would take in-state Michigan engineering over any Ivy league school.  Michigan's engineering program is considered one of the top 10 programs in the country and is more highly ranked than any Ivy League school for engineering.   A Michigan Engineering degree will get you a job pretty much anywhere you want if you do well there.  If you are in-state and want to go the engineering route, it is almost  a no-brainer. 

Honestly, for in-state Michigan kids, there are very few places I would consider going to for engineering over Michigan.    MIT, Stanford, Cal-Berkeley, Cal-Tech, Carnegie Mellon, those types of places.  And probably I would only condider them if significant financial aid was involved. 

 

pkatz

January 28th, 2015 at 11:27 PM ^

A few things, and it should be noted that I am a Ross MBA and my son bleeds blue from having lived in AA from 2009-2011:
- we are not in-state, so in-state tuition does not apply
- we are fortunate to have tuition already taken care of
- he feels the general caliber of student at Cornell Engineering will surpass that of UM based on the requirement to admit in-state students
- depending on which publication you use, the rankings for Cornell and UM engineering are splitting hairs
- he wants an Ivy League engineering degree and Cornell offers the best program
I always thought he'd end up at UM, but can't fault his reasons for pursuing and ultimately gaining admission via the early decision process to Cornell Engineering.

JamieH

January 29th, 2015 at 1:54 AM ^

Obviously if you are not in-state, Michigan is quite expensive so it's not quite as good of a value.  I think Michigan engineering is an amazing value as an in-state student.   Once you are talking about out-of-state tuition, you are talking an entirely different ballgame.


I will disagree with him 100% on the general caliber of engineering students though.  Michigan may be required to admit in-state students, but the college of engineering isn't required to admin anyone as far as I know.  I would put the top engineers at Michigan up against anyone execpt for the very tip-top engineering schools I already mentioned.  Places like MIT, Stanford, Cal-Tech are definitely somewhat more highly regarded, but you also pay through the nose for it. 

Chad Henne

January 29th, 2015 at 7:41 AM ^

To get into UM engineering as an in state student, you have to be exceptionally bright nowadays. My cousin had something like a 3.8 GPA and 31 ACT from a private school in Michigan and was wait listed(actually ended up accepting a near full academic scholarship to the Ohio State engineering honors program). Honestly, I doubt there are many people being turned down at Cornell with that type of resume.

pkatz

January 29th, 2015 at 8:24 AM ^

I don't have access to who was turned down, but Cornell Engineering's 2014 incoming class had a 6% (13k applied for 750 spots) acceptance rate, so I'd feel pretty confident in saying there are several applicants who were turned down with a similar resume.

Commie_High96

January 28th, 2015 at 10:10 PM ^

The "lesser ivy" thing comes from my brother-in-law Princeton grad...I meant no offense. My point was more about the resources you get graduating from Columbiq, Harvard, Yale, Princeton or Dartmouth. The other three Ivies don't have the alumni support. You go to Princeton and you can walk into anywhere and have a leg up on anyone else (including our beloved um). However, it blew my sister-in-law's mind when she was admitted to sociology grad school at Harvard but was denied at UM.

pkatz

January 28th, 2015 at 11:16 PM ^

I hear you but don't agree with regards to the engineering aspect (I do agree with your point as a general institution) - Cornell has the best program in the Ivies and places it's students in almost any co-op program you could want, including Google, Tesla and/or SpaceX - do well in your co-op and you are set for a job even before graduation.

Autostocks

January 28th, 2015 at 6:07 PM ^

Funny, I had nearly the exact same conversation with my son when he graduated from HS a few years back.  Considered both Michigan and Northwestern (not ND).  Would have supported him either way, but in my mind I could see no cost justification for the NU degree over the Michigan degree.  Fortunately he chose Michigan, and it worked out well for both of us.  He graduated from the LSA Honors Program, and earned himself a fellowship to another prestigious institution for graduate study.

DCGrad

January 28th, 2015 at 6:08 PM ^

where he wants to end up in addition to what he might want to do. Chicago is a ND/NU hotbed.  East coast is more UM friendly. (in my experience) but if he wants to stay in Michigan then go to UM. Can't speak about the West coast but I do have UM friends (and Alum) out there as well.

caliblue

January 29th, 2015 at 2:35 AM ^

Many of them undergrad at Cal and Grad at UM and vice versa. NU not as well known but there are not a lot of them out here or they do not stand out as much. Cal and UM had some sort of band of brothers thing when I was in undergrad. I live in the Bay Area because a roommate was in Public Health grad at UM , undergrad at Cal. Told me the counselors at Cal told him and others to go to UM for grad rather than UCLA or USC . Also told me that UM Med school was really held in esteem out here, even with UCSF and Stanford grads a dime a dozen. Most of the Med School staff at UC Davis came from UM in the 80s ( Faith Fitzgerald, Joe Silva, and others ) . Don't think NU or ND has such a great number of grads outside of the midwest. 

Also the sports angle may actually hurt NU. I identify UM grads out here because they still wear their UM apperal on game days ( ND too of course )