While it’s definitely true that we have to take into account loans, I feel I should point out that most people have to take out loans. This isn’t a choice. It’s how much to take out, not whether to take them out. It’s a sad reality of our college system today. For instance, in my state, our state university costs more than $25K/year. The vast majority of people cannot pay this out of pocket. The only way to go is through loans. My own kids also do work study all year, but that ends up being only enough to pay for incidental expenses, like books, mandated plays, etc. They also work during the summer but they’re lucky to get $2 or $3K, hardly enough to make a dent in college costs. So even with their very generous grants, they still have to take out loans. Not $200K for sure, but not nothing.
This makes me sad but it’s the reality of going to college for most people. I plan on helping them with their monthly payments to free them up until hopefully they’re on their feet. Some parents can’t do this. But I can, so I will.
As people have pointed out, though, it is very wise to take into account your debt load and to calculate what this means in monthly payments long term. But for most people, taking some debt for their education is a necessary evil.
I appreciate your points, @connections- but the OP has non-debt choices to some top-drawer schools!! To choose $200K in debt for an undergrad degree (esp for somebody planning a career in theatre, with no family financial support) is just not rational.
@GraceMarie88 you will so quickly get into more debt than you will be able to handle as a graduate if you pursue those additional loans. Don’t do it if this is the only way you can attend Tisch. You have INCREDIBLE options that are much more affordable. A BA track often gives you more flexibility to pursue experiences (things like acting in student films, or other productions) than you will find you have time for in a BFA at Tisch. I’ve known many of my daughter’s friends (and she is a BFA MT at Tisch) who seem to be doing way cooler things with theatre while in school than she was able to do over her 4 years because she was too busy with studio, academics, crew assignments plus rehearsals) and these friends are at schools like Harvard, Barnard, Stanford etc. Yes, they are not getting the exact same training that she has received at Tisch but some of them have done what @bisouu mentioned - they used available time to enhance it. Meanwhile they are getting world class educations at fantastic schools which will end in a degree from schools people respect. That sounds like such a win to me.
And if you really have Tisch on the brain, there are summer intensives offered there too. They are expensive but they are there. This is the current summer offering. I don’t know if you are an MT but as far as I know the intensives are taught by the regular Tisch faculty in the summer. (At least the high school one is I assume this is too but that’s something you could check out if you ever considered it.) http://tisch.nyu.edu/special-programs/summer-at-tisch/programs-and-courses
My daughter will graduate from Tisch with around $27k in personal loans in her name (the max she could take out) that payments will start on in November. She lives in a tiny apartment that by NYC standards is inexpensive but it requires a monthly subway pass which runs about $116. She has 3 survival jobs that she is piecing together around her remaining classes and she is attending auditions in NYC which are extremely competitive and somewhat of a time suck if you figure in the effort vs. the potential reward. She recently turned down a booking that she was very lucky to get but that she realized she could not afford to do because the pay was too low and it would take her out of town and away from her survival jobs during a prime earning month. If she had more money in the bank or was still completely supported by us, maybe she could have done it but she’s in a situation where she has to make adult life decisions now.
Unless you are extremely lucky, this is likely to be your life too. And all things considered, my daughter is one of the lucky ones compared to many others and she has less loans to cover than what you are talking about.
Our D graduated with a BA in June. She has had a great agent and has been booking steady equity contracts for the past two years. She has had callbacks for roles (not ensemble) in three Broadway shows. A BFA is NOT more valuable than a solid BA, in spite of what some may believe.
If I were in your shoes I would absolutely follow the money.
CONGRATULATIONS on having earned amazing choices!!
I was going to mention @momcares’ daughter in my previous post whom I know also has a BA from a great school and believe me, her success by any measure - BA or BFA is something to envy and I SO DO! Got too lost in my blah blah blah of the overly long post and forgot but yes, there you go!
I would too. Our D was wait listed at Barnard and Yale and accepted to Vassar and Northwestern. She would be full pay at Vassar (68k/year) and Northwestern (a bit less). We are guessing about the same outcome at her Waitlist schools. She has been dreaming of Barnard for a long time because it offers incredible educational and theatre opportunities right in Manhattan. But, based on her financial aid results so far, she will likely be full pay (like Vassar $). Luckily she has a very strong BFA option or two that are far more affordable. But she would’ve been thrilled to have the OP’s BA options.
@ClarinetDad16 - the dots work for me - school aide is a capricious and confusing web, almost impossible to understand why 2 schools have different reactions to the same information.
Just wanted to share a little piece of advice my D got this past week during our trip to NYC that might help.
We had the opportunity to attend a recording of a well-known MT talk show as live studio guests. After the recording was done, the host (who currently stars on Broadway in a show he co-wrote with a friend) asked if anyone had any questions. My daughter piped up and asked, “What’s the best advice you can give to someone hoping to make a career in MT?” He shared three things with her:
Take every job you’re offered in the theatre. You can never tell when one experience will lead to another, and networking is extremely important.
Know your MT history. Way too many people, as he put it, “are in love with Sutton Foster but have never heard of Patti Lupone.” Big mistake. And as an aside, he said to never audition with “Gimme Gimme” – it’s ridiculously overdone.
Create your own opportunities. He freely admitted that no one would have cast him in his role in his current show if he hadn’t written it. And then he added, “and by the way, you don’t have to major in MT…there are many paths to a career in MT.”
For the record, this actor has a degree in Piano Performance from a music conservatory. I have long admired him for the way he has essentially built his own career chasing a dream he’s had since he was a young boy. It definitely can be done.
Good luck with your decision! I can’t imagine how difficult it must be for you to make, but maybe these words from an industry vet will help.
Just checked back to see if my blunt statement had ruined anyone’s day (not my intent). I just want the OP to understand what “debt” is and how it impacts your life. And I’m talking about big debt - not $20000 or $30000 to got your state school as a first generation student. I’m talking $80000, $100,000 or more when there are choices. Debt robs you of your future and your peace of mind. By saying no to (large) debt, you are saying yes to future happiness and dreams. Here are 2 scenarios.
A few days of tears.
A few weeks of bitterness and anger before resignation. Lots of second guessing. But growing excitement for college.
4 years of a college experience. The whole big experience.
No or small debt. You can start building a life. Cocktails with friends? Yes please! And it’s the perfect time to tell your friends you’ll be moving into your dream apt.
Or
Elation that you can go to your dream school.
Gnawing concern about debt. Peace of mind not really there. But you’ll do your best to make it worth it…at least you hope. Always a little worried…
4 years of a college experience. The whole big experience.
20-30 years of debt. You become a slave to debt repayment. Cocktails with friends? Maybe not. And other dreams? Postponed indefinitely.
