$260,000 of debt?

<p>hey fellow NYU hopefuls or accepted students. HOW THE @#!$% are we suppose to take on 160k worth of debt just for undergraduate school. i just realized it would cost me like 180k to attend NYU and just interest alone is going to be 80k how the hell are we suppose to pay for that? CAS gave me 7500 scholarship BUT THATS IT, local scholarships are like 500-1000 each are you kidding me? does Colleges want us to go bankrupt when we are 22???</p>

<p>so my question is, how do ya'll plan to pay for the school?</p>

<p>Well my parents are already paying for Duke and Emory, and now NYU. My little brother will attend a top tier school too. They’ve been saving up hundreds of thousands for a while now and although we live in a very expensive neighborhood, we are careful in what we buy and how much we spend.</p>

<p>loans, loans, loans.</p>

<p>well, not for me, but my friends are all taking out loans. one of them got a huge scholarship, but she’s basically perfect in every way possible, so yeah. :-P</p>

<p>Colij ur so lucky, my parents make a **** load so no financial aid for me. But they also want me to be independent so no help toward college from them. So im basically screwd both ways… college sucks. just curious what do ya’ll majoring in?</p>

<p>idealistically, ill receive 30k in finaid. realistically, i think itll be more around 10k. my parents are paying for one year of college for me and i have to pay three years and ive too begun to think about this… easily said, im scared as ****.</p>

<p>NYU is NOT a school for the faint of wallet. Some kids attend at little cost because their parents work there. Some kids attend at little cost because they’re low income. Some kids (not many) get decent merit scholarships. Some kids have VERY VERY RICH parents.</p>

<p>If none of these descriptions fit you - then you rank among the rest of us. Those whose children simply cannot afford to go to NYU. Wanting it does not make it so. </p>

<p>PLEASE do not even CONSIDER trying to get loans for $18,000-$24,000 for undergrad. I don’t think kids your age even UNDERSTAND these numbers. Let’s say you graduate and get the average job, at…what it is these days? $40,000? So maybe you’ll be luck and take home $30,000 after taxes. It takes 3 times that to live in NYC (yes, yes, I know you CAN live on less…until your tooth chips or your health insurance contribution increases, etc.). It takes AT LEAST that much to live VERY frugally ANYWHERE in the U.S. Forget about savings or marriage, travel or a car. Yet…kids are trying to take on debt that they can’t repay for over a decade or MUCH MORE? </p>

<p>Get the best quality education you can, at a price you can afford. Some kids are lucky to have parents who can pay, some aren’t. I had no parents, and didn’t get a college education at all. </p>

<p>It’s not just a matter of being accepted and you get to go. It’s affordability. Which is getting tighter and tighter for virtually everyone in this economy. </p>

<p>Good luck.</p>

<p>@R124687
You said</p>

<p>Get the best quality education you can, at a price you can afford. Some kids are lucky to have parents who can pay, some aren’t. I had no parents, and didn’t get a college education at all.</p>

<p>It should really be </p>

<p>Get the best quality ejoocation you can, at a price you can afford. Some kids are lucky to have parents who can pay, some aren’t. I had no parents, and didn’t get a colij ejoocation at all.*</p>

<p>i applied for financial aid and i didnt receive anything with my acceptance letter. not that they gave me no money, they just didnt send anything at all. the acceptance packet says that i should be hearing from the financial aid dept. once my paperwork is processed or i can check online. i didnt find anything online and i filed my paperwork early enough that i would think it would be processed. any thoughts?</p>

<p>Sorry colij. Forgot to use spell check I guess. </p>

<p>While we’re on the subject…I won’t tell you what comes to my mind every time I see your screen name. It’s um…well, just the way my mind puts the letters together I guess. We see what we want to see. Don’t worry, it’s not mean, it’s funny. </p>

<p>I do tend to always write stOOpid or stEWpid. Does that get me any points?</p>

<p>Or, wait!..Were you dissing me because I was so stEWpid that I forgot a ZERO at the end of my indebtedness assessment? (Yeah, OP, sorry, I meant $180,000 - $ 240,000 debt at graduation).</p>

<p>DO NOT DO NOT DO NOT DO NOT DO NOT go into serious debt for NYU or any other college. It is the stupidest thing you could do. It ranks up there with drinking lighter fluid or trying to stuff a hamster up your nose. </p>

<p>NYU is a good college, but it is not THAT good. It’s certainly not worth serious debt - I don’t think even top schools are worth that much debt. It amazes me that anyone would take out that much debt to go anywhere, let alone an overpriced college not even ranked in the top 20 or 30. If you can get into NYU, you can get into a public school with a good scholarship and possibly be debt free. I understand some people have no parents or money and will be in debt regardless, but it makes sense to MINIMIZE the debt. </p>

<p>Most of you are HS students. I’m an NYU student; I like it here, but if I wasn’t on a partial scholarship (parents pay the rest) I would NEVER go here. R1246 is right - that amount of debt is ridiculous and laughable. You can get a better quality education for so much less. I’m majoring in Chemistry; I took a Chem class at SUNY Geneseo and thought the quality of education was better - small classes, taught by profs, the TA’s spoke English, facilities were just as nice as NYU’s. Why don’t I go to a SUNY then? Well my scholarship makes it so NYU costs $20k/year for me, same as a SUNY, and I love Manhattan as opposed to a small hick town upstate, and NYU has the better reputation. Please don’t assume more money = better education.</p>

<p>*Edit - to clarify, the quality of education here is GOOD too, I’ve had some amazing profs. But my point still stands.</p>

<p>i’m an NYU student too and i love the school but honestly, it’s really not worth the $260,000 debt just for the 4-year education here. i would not have come to NYU if i had to pay that much for 4 years. there are so many better schools out there that cost so much less. i had the option of going to a school where for FOUR years, i only had to pay what i had to pay for NYU for ONE year. i regret not going there. i mean, NYU is a great school but financially, i regret it.</p>

<p>anyways, loans are your only option i guess? i know a friend of mine is paying everything without loans but a lot of it was covered by scholarships. so unless your parents are super rich, you probably would have to take out loans.</p>

<p>wow i just had a huge reality check. three days ago, i thought my life was set with the NYU acceptance letter, now according to u guys i should turn them down? and im hearing CAS kids have no chances of scoring a good job in NYC since all the Stern kids gets first dips?</p>

<p>@kaiser</p>

<p>to be honest. . . you should have considered the financial aspect of NYU before applying ED.</p>

<p>after grants and scholarships i have to pay roughly $25k a year making it about $100k for undergrad assuming im gonna maintain the same scholarships/grants</p>

<p>and im majoring in media, communications. is it worth it?</p>

<p>im also applying to some outside scholarships, hopefully that will work out</p>

<p>Yeah i kind of assume my parents would help me pay for my college education… cause they are in no way in finanacial troubles, or have a tight budjet < Now is like a flat out " figure it out yourselves" and im freaking out that i made a huge mistake applying for CAS instead of Stern. Gahh should i just turn them down?</p>

<p>I love NYU… It’s my dream school. Many times, it’s the only school where I can imagine myself being very happy. This sums up my feelings…</p>

<p><a href=“http://i470.■■■■■■■■■■■■■■■/albums/rr62/TheWestTower/ilovenyuvioletsmaller.png[/url]”>http://i470.■■■■■■■■■■■■■■■/albums/rr62/TheWestTower/ilovenyuvioletsmaller.png&lt;/a&gt;&lt;/p&gt;

<p>The financial aspect is the only reason I’m applying RD. </p>

<p>Good luck to all accepted early.</p>

<p>

if it’s over $60k over 4 years, I woudn’t even consider it. Your choice to make, but notice that all the NYU students on this thread have made it clear our school isn’t worth that much debt. </p>

<p>and that’s ridiculous, CAS kids have no chances of scoring a job in NYC - you do realize there’s millions of fields and Finance is 1 of them? :slight_smile: Stern students all go after Finance/Accounting jobs. CAS students study Liberal Arts or Sciences and generally have no interest in finance…well maybe Econ or IR majors.</p>

<p>So I’m probably not going to get any scholarships from them. How much in loans does NYU usually max out at?</p>

<p>If you dont know, thats fine.</p>

<p>I don’t see how anyone could feel comfortable taking out a loan of over 30000 for undergraduate. I myself as need base aid prefer to take out 0 loans, but see myself at max 5k a year.</p>

<p>It costs me about 55k to attend NYU every year on average, counting books and plane tickets, etc. I have a 10k a year scholarship, plus some very small next to no interest loans and grants. My parents take out about 30k in loans per year and I have about 10k. I don’t know that it’s not worth it yet. The school is certainly overpriced, but my loans are deferred for years and their loan is the major issue. I have every intention of paying as much of this off as I can but obviously no one should go in without sound financial backing and take out loans of that size. A lot of people have parents who just pay for it all in full without loans, or they get full scholarships. I fall in the category that my family does not qualify for FAFSA but the tuition is way too much to pay without loans. It’s a tough spot, and especially with the economy now, it might seem difficult to attend NYU, but just know that there are a lot of options out there for most people.</p>