Different packages in different locations

[MaximKat]

Ok, I'm an international student and while I know that some locations are more expensive than others, it is hard to compare financial offers from different parts of the country.

Yes, I also know that there are several services on the net that can help me with this question, but I'd like to hear opinions of human beings as well

So, 18k in Urbana-Champaign, IL vs 29k in Stony Brook, NY

What is better, in your opinion, and how much is the difference?

[liszt85]

viewtopic.php?f=27&t=16510 Use the cost of living calculator to get an estimate of the equivalent amount in NY.

Edit: May not be very helpful. I tried. Suffolk county isn't on the drop down menu. However, Urbana Champaign 18K was equivalent to 39K in Manhattan! (So I'm guessing 18K in Urbana Champaign is a pretty good amount. Don't knw about 29K in Stony Brook).

[MaximKat]

Yes, I also know that there are several services on the net that can help me with this question, but I'd like to hear opinions of human beings as well

[vern23]

well i think east coast is overall more expensive than midwest. They are both college towns I dont know as much about stonybrook but i know Urbana-champaign is really just a college town in the middle of nowhere, pretty sure 18k would be fine, but i bet in stonybrook with the 29k you'd have more spending money after paying living expenses.

[Tritonetelephone]

Ok, I'm an international student and while I know that some locations are more expensive than others, it is hard to compare financial offers from different parts of the country.

Yes, I also know that there are several services on the net that can help me with this question, but I'd like to hear opinions of human beings as well

So, 18k in Urbana-Champaign, IL vs 29k in Stony Brook, NY

What is better, in your opinion, and how much is the difference?

I made a spreadsheet to answer this question for my schools, using the COL index from http://realestate.yahoo.com/neighborhoods.

A value of 100 for the COL index is the national average, and 110 would be 10% more expensive, etc.

I used the following formula: [Total Funding Offer] * 100 / [COL index].

So, for example, Stony Brook has a COL index of 147. So $29,000*100/147 = $19,727.89

Champaign, IL has a COL of 87. $18,000*100/87 = $20,689.65

The COL is going to vary depending on where you actually live, but those are pretty close to equal.

It's also important to consider how much you'll be responsible for in fees and insurance, etc. I subtracted that from the funding offer before calculating that formula for my spreadsheet.

The problem with a COL index, though, is that its heavily influenced by mortgage rates and house prices and things that aren't going to affect a grad student. So, I also looked at the average apt and energy costs in the area from bankrate's COL calculator, as well as what I thought I might actually end up paying for housing based on what current grad students pay. I then divided the funding offer by 12 and subtracted those potential housing figures to understand how much I would make in-pocket each month. These aren't perfect figures but it should give you an idea of the kind of differences you're looking for.

[Dirt]

Champaign-Urbana is pretty cheap even by Midwestern standards. I think you could find a room for $200-300/month and get by pretty easily on $18,000/year. And you'd only be 2.5 or 3 hours from Chicago or Saint Louis, so it's not really as isolated as people tend to think.

I don't know as much about Stony Brook. I know someone who went there and disliked how isolated it was--not isolated enough to bring down the cost of living, though. (That's isolated by New York standards of course, not by the Midwestern standards I applied above.) Still, $29,000 is quite a bit of money for a grad student anywhere. I would agree that these offers are basically comparable.