How should I compare the true cost of attending WashU versus Michigan State?

Michigan State will usually be the lower true-cost option for a Michigan resident, but WashU can be financially competitive when its need-based grant or scholarship is large enough to offset its higher published cost. For a nonresident at Michigan State, the gap is often much smaller, so the two award letters deserve a line-by-line comparison rather than a decision based on sticker price. Treat loans and work-study as financing or earnings opportunities, not as discounts.

Build one annual net-cost total for each school: tuition and required fees, campus housing, meal plan, health insurance if you need the school plan, books and course materials, transportation, and personal expenses. Then subtract only grants and scholarships that do not need to be repaid. Use the actual housing and dining selection you would make, since a lower-priced residence hall or meal plan can change the comparison more than small incidental charges.

Calculate: billed charges plus realistic non-billed expenses minus gift aid equals your estimated family cost for one year. Keep federal or private loans separate beneath that number, along with any work-study award.

Also check whether each award is renewable for four years and what conditions apply, such as maintaining satisfactory academic progress or a specific enrollment status. Project all four years using cautious assumptions about annual tuition, housing, and meal-plan increases, and account for travel home from St. Louis versus East Lansing. Compare the remaining annual amount to what your family can pay from savings and current income; the difference is the amount you would need to borrow or cover through work each year.