I currently finished my sophomore year at Arizona State University. I am majoring in Biological Sciences (Genetics & Development), on the road to pursuing genetic engineering, perhaps at a medical school. I began attending ASU because I got rejected from all my other top choices, and I got a full ride here, plus extra leftover money for life. No loans, no problems.
Now, I recently applied as a transfer to NYU, Columbia, Harvard, and Barrett Honor’s College (at ASU). Rejected to the first two, accepted to NYU, waiting on the last. I was overjoyed to hear that I got into NYU, until that evening when they posted my financial aid information…
They expect me to take out $60k+ in loans PER YEAR. The scholarship they offered me is a spit in the face! $8500 per year. ASU gives me more than that. I live with my really elderly parents and we survive on $1000 a month, I am an excellent student (3.8 GPA at ASU), and I am pursuing one of the most difficult majors there are (biochemistry with an emphasis on genetics). Meanwhile, I heard other people whose parents make $200,000 a year get $70k per year in scholarships.
I’m crushed. I don’t know what to do. I will be taking out massive amounts of scholarships just to get a degree from NYU, where I can get the same knowledge for free plus stipend at ASU. Thing is, NYU is super prestigious and many doors will open for me into big labs and research; but, I will be spending my life paying out crazy loans which might total around 300k if not more by the end! (They are also saying all of my credits count as electives and I may have to start from day 1, taking all the basic bio and chem courses - what the hell? but it’s not 100% certain UNTIL I enroll. come on!).
I really need advice. I am either about to make the worst mistake of my life by staying at ASU and missing out on a once-in-a-lifetime opportunity at NYU, or making an equal mistake of taking out massive loans and being in debt for the rest of my life.
What is everyone’s experience here with financing NYU?