Smu (Dallas, Austin, Wharton: low income, spring break, apartment)

[UnfairPark]

Indulge me by discussing pros and cons of SMU for a minority student with a really good resume and interest in economics and finance. He is eligible for full financial aid so money isn't an issue for him. I was paired with him through our church to help him navigate college admission process.

[TurtleCreek80]

I would have him take a hard look at SMU. Over a quarter of the undergrads are non-white and financial aid is generous...while the really rich fraternity/ sorority reputation is very apparent on campus (almost 40% Greek), the majority of students are not part of that culture. Business school is strong academically and can't be beat for local connections post-graduation.

If his academic stats & leadership are strong enough, definitely research the major scholarship programs like President's and Hunt as they provide amazing access to administration, professors, special programming and also covers study abroad for 1 semester. Study abroad is huge at SMU with a large percent of students going one semester of their junior year. Historically, Hunt/ Presidents have LOVED local DFW area high school graduates.....it's a great chance for SMU to "pick off" a few top students who likely would have matriculated out of state at a top private school, but with less/ no equal opportunities for special access.

[UnfairPark]

Originally Posted by TurtleCreek80

I would have him take a hard look at SMU. Over a quarter of the undergrads are non-white and financial aid is generous...while the really rich fraternity/ sorority reputation is very apparent on campus (almost 40% Greek), the majority of students are not part of that culture. Business school is strong academically and can't be beat for local connections post-graduation.

If his academic stats & leadership are strong enough, definitely research the major scholarship programs like President's and Hunt as they provide amazing access to administration, professors, special programming and also covers study abroad for 1 semester. Study abroad is huge at SMU with a large percent of students going one semester of their junior year. Historically, Hunt/ Presidents have LOVED local DFW area high school graduates.....it's a great chance for SMU to "pick off" a few top students who likely would have matriculated out of state at a top private school, but with less/ no equal opportunities for special access.

As always, good input TC. He may get accepted to one of NYU, U Penn, U Chicago, Stanford level schools. I'm questioning if limiting himself to Texas is wise for him or not as money isn't an issue due to FA. He wasn't aware that his circumstances makes it easy for him to aim high so he was only thinking of UT Austin and SMU(his friend got financial aid there). I'm thinking of encouraging him to at least apply to two reach schools and see how it works out. I would like to hear from SMU alumni if we have any on this forum.

[unexpected]

Originally Posted by UnfairPark

As always, good input TC. He may get accepted to one of NYU, U Penn, U Chicago, Stanford level schools. I'm questioning if limiting himself to Texas is wise for him or not as money isn't an issue due to FA. He wasn't aware that his circumstances makes it easy for him to aim high so he was only thinking of UT Austin and SMU(his friend got financial aid there). I'm thinking of encouraging him to at least apply to two reach schools and see how it works out. I would like to hear from SMU alumni if we have any on this forum.

I would ask him where he wants to go after he graduates. Does he want to stay in the Dallas area? Does he want to stay in Texas? Does he have an interest in living in NYC or California?

SMU is great if he wants to stay in Dallas. If he has an interest in checking out NYC (and really, if he wants to do finance, he probably should), all else being equal I would go to NYU over SMU. Even amongst the schools you mentioned, there are on a different tier - NYU << UPenn < UChicago < Stanford.

I attended a school in this tier you mentioned - if you want to msg me his details I can tell you where he would have a realistic shot at getting in, and other places he should target.

[UnfairPark]

Originally Posted by unexpected

I would ask him where he wants to go after he graduates. Does he want to stay in the Dallas area? Does he want to stay in Texas? Does he have an interest in living in NYC or California?

SMU is great if he wants to stay in Dallas. If he has an interest in checking out NYC (and really, if he wants to do finance, he probably should), all else being equal I would go to NYU over SMU. Even amongst the schools you mentioned, there are on a different tier - NYU << UPenn < UChicago < Stanford.

I attended a school in this tier you mentioned - if you want to msg me his details I can tell you where he would have a realistic shot at getting in, and other places he should target.

He is interested in NY but doesn't know much about schools so I've asked him to research their websites and I'll see if they offer a fly in program for low income students. I've yet to see his transcript and scores but from what I've heard, it's all good except limited extracurriculars because he works on evenings and weekends.

[OkieSoonerGuy]

Would you mind pm'g his ethnicity? If he's a certain one then I have some contacts at quite a few schools and two (Dartmouth and Cornell) would prob fly him in.

[TurtleCreek80]

Originally Posted by UnfairPark

As always, good input TC. He may get accepted to one of NYU, U Penn, U Chicago, Stanford level schools. I'm questioning if limiting himself to Texas is wise for him or not as money isn't an issue due to FA. He wasn't aware that his circumstances makes it easy for him to aim high so he was only thinking of UT Austin and SMU(his friend got financial aid there). I'm thinking of encouraging him to at least apply to two reach schools and see how it works out. I would like to hear from SMU alumni if we have any on this forum.

Something important to consider when weighing all options is the cost of travel to & from school. I think all schools close dorms for major breaks like summer & winter but some also close for fall break, Thanksgiving, and spring break. That is easily a couple thousand per year in airfare back home which can be a big financial burden even if tuition, room & board are covered.

And also gauging his maturity re: being so far away from home and culture shock. If he's never left his own neighborhood, SMU or UT would provide enough distance and culture change. There is always grad school.

Not trying to influence him to limit his options at all, but rather to set him up for max success in college.

[UnfairPark]

Originally Posted by TurtleCreek80

Something important to consider when weighing all options is the cost of travel to & from school. I think all schools close dorms for major breaks like summer & winter but some also close for fall break, Thanksgiving, and spring break. That is easily a couple thousand per year in airfare back home which can be a big financial burden even if tuition, room & board are covered.

And also gauging his maturity re: being so far away from home and culture shock. If he's never left his own neighborhood, SMU or UT would provide enough distance and culture change. There is always grad school.

Not trying to influence him to limit his options at all, but rather to set him up for max success in college.

These are valid concerns, unless there iare some outside scholarships to cover those expenses, he won't be able to afford housing in NY or tickets go DFW. I can't say much about his maturity as we only had one brief encounter so hard to judge.

[unexpected]

Originally Posted by UnfairPark

These are valid concerns, unless there iare some outside scholarships to cover those expenses, he won't be able to afford housing in NY or tickets go DFW. I can't say much about his maturity as we only had one brief encounter so hard to judge.

Housing at these top schools is all included. At places like Stanford, etc., you're required to live all four years on campus. It's not like UT where you can get an apartment your freshman year!

Tickets are definitely something to consider. You'll be home 3 times a year, at 300-400 a pop - that's $1200. An expense, for sure, but something that can be managed (work during this summer, raise money through the church, etc.)

I would always apply first, and then process reality later. You never know what kind of scholarships, etc. are available.

[numbersguy100]

Originally Posted by unexpected

I would ask him where he wants to go after he graduates. Does he want to stay in the Dallas area? Does he want to stay in Texas? Does he have an interest in living in NYC or California?

SMU is great if he wants to stay in Dallas. If he has an interest in checking out NYC (and really, if he wants to do finance, he probably should), all else being equal I would go to NYU over SMU. Even amongst the schools you mentioned, there are on a different tier - NYU << UPenn < UChicago < Stanford.

I attended a school in this tier you mentioned - if you want to msg me his details I can tell you where he would have a realistic shot at getting in, and other places he should target.

If he wants to work in finance, Wharton and Stanford are going to put him leagues ahead of NYU or SMU or even Chicago, even if he wants to work in Dallas (though Chicago is still well ahead of SMU and NYU).

If he is positive he wants to stay in Dallas, has very strong family ties to the area to the point of not being able to wrap his mind around the idea of leaving (often common in minority communities in my anecdotal experience), then SMU's presidents scholar program is worth considering. I was awarded it and they pitch you hard on the fact that they pair you with an alum or important donor in your field of interest and you basically spend your time in school networking with the who's who of Dallas in business, art, or whatever field you like. This is the only scenario in which I would suggest attending SMU. I would be careful about attending on need-based financial aid rather than a generous merit scholarship.

As a note on NYU, it is not very generous with need based aid even to people of low means. A neighbor is a single mom with a teaching job with very middle class income. Her daughter got Effectively full rides (need based) to the top tier schools including Amherst, and NYU still expected her mom to contribute about $20k a year on what I suspect is a household income of about $48k at most.