<p>I like NYU. Really, I do. It's a great school but it's SO expensive and I don't want over $100,000 in debt upon my graduation. Is it worth it to go there? My other choice is Binghamton. </p>
<p>The only thing that makes me a little wary about Binghamton is that it's farther away from home. My parents are both disabled so NYU is a better location (should there be an emergency I can easily get home), just a worse price. </p>
<p>So. Any advice? Thanks :D</p>
<p>It all depends on what you want to do. I don’t think anyone on this board has the jurisdiction or the patience to tell you what is right for your specific situation(s).</p>
<p>It depends on your major, living style, personal preferences.</p>
<p>Are your loans going to be PLUS loans? because these loans are your parents. Unless you plan to take out private loans, it would be a horrible idea to ask your parents to take out so much debt if they are disabled. Plus, if you go to binghamton and save some of that money you would have spent, you can have an emergency stash for when you need to fly home right away or whatever. </p>
<p>Otherwise it will depend on your situation, if you are looking at flat out $100,000 in loans, definitely not worth it.</p>
<p>$100k in loans = ridiculous even for an ivy</p>
<p>I’m a current student on a scholarship and will graduate with 0 debt. Would’ve easily picked Binghamton or Geneseo otherwise. Same education, better price.</p>
<p>Seriously, I recently took a tour of SUNY Geneseo with my sister who was accepted, and it was awesome. Small classes, friendly professors, nice pricetag. It’s in the boondocks though, as is Binghamton. At NYU there’s endless bureaucracy, huge classes, and the professors don’t mind calling you nasty names. At leas the head of the Chem dept doesn’t, but he needs to be strangled.</p>
<p>i was totally in the same position, and after a long talk with my family, i think i’m going to go ahead and pick NYU…in the long run, as horrible as this sounds…employers are going to judge you based on your school…NYU is 32 in the country and Bing is 80 for national universities…and NYU will have a plethora of job opportunities for you in the long run since you’re in NYC. Binghamton has internships and stuff, and many in NYC, but i’d think it’d be easier to do well at NYU (you can do well anywhere…), go to grad school, and hopefully you’ll have a nice job to pay off the loans in the long run. If you want to go into teaching, or a job that your salary will never exceed the amount you owe in loans, i’d suggest Binghamton. Academically, they’re pretty much on par, except i felt the professors were better at NYU, and the only difference your paying for is the name. the lack of campus at NYU didnt bother me because the campus at Bing is nothing to cheer about either. you have to think about it as you education is a major investment for the future…so it all depends on your aspirations</p>
<p>Like I said earlier, it’d be nice to hear from someone who has about 120k in debt and is working to pay it off.</p>
<p>Saying you have 0 debt is a completely different perspective…</p>
<p>Definitely not worth $100k+ unless you plan on only getting an undergraduate education. And even then it is very risky to have such big loans. Your life will be extremely restricted after college because you’ll be paying off you’re loan for 10 to 25 years…do you really want to be making high monthly payments for that long?? Second of all, consider the interest. Let’s say you get 8% interest and you’re paying off a $100k loan over 10 years. That means $8000 in interest alone, every year. Do you think you’ll be able to make pay more than $8000 to actually put a dent on your loan? If you bring home $50k in pure income, that means 16% of your income is going directly to your student loan just to pay the interest. Paying $10,000 a year means only $2k goes directly to paying of the loan. At this rate it will take you ~50 years to pay off the loan? Ok let’s say you take off 10 years because interest reduces the more you pay off your loan, that still means 40 years… I think this is pretty realistic considering that no one will pay $15k a year or even $20k a year directly toward loans… Yet you’re expected to pay off the loan in much less time. Doing a rough calculation means you have to pay approximately a little under 18k a year every year to pay off a $180k loan–which is $100k with 8% over 10 years (Take a few thousand away since interest declines the more you pay off the loan…let’s say total loan comes out to be $150k?) That is $1,250 monthly payment for 10 years straight. Now consider the 25 year track with the same $100k. The total loan with 8% interest over 25 year comes out to probably $250k? Not making exact calculations… But that is a lot of money to pay for undergraduate education. Obviously the process is much more complex than this, but this is a small preview. Definitely not worth it. And this is only $100k loan, meaning you have over a 50% scholarship every year. The cost of attendance is approximately $224k without any scholarships…and tuition cost always rise. </p>
<p>Now you want to go to graduate school? Hope you get a full ride or that is another big loan under your belt…what about when you start having a family? Will your payments decrease? I’m pretty sure they will. I don’t know, but it sounds very risky. And yes I do realize that eventually you think you’ll make over $100k a year but your 20s and 30s will be ruined by debt. </p>
<p>I got accepted and was expected to take a loan over 130k… definitely not worth it at all!!! I can get still a great education for much less money. Whoever has taken the plunge into NYU good luck, it’s an awesome school and I wish I had the resources to attend. I hope this helped some of the indecisive students/parents.</p>
<p>If I missed anything or made a mistake…correct me please.</p>
<p>
No, it’s not. I turned down better schools than NYU for less debt than $120k - my point was I wouldn’t have attended NYU if it meant any debt. The reason that people with $120k in loans aren’t chiming in is because very few people are stupid enough to do that. </p>
<p>Sunday1x explained it extremely well, listen to him or her. Notice how on this board, the actual NYU students and their parents are very blunt about it not being worth that much debt. It’s only the kids who have looked at some shiny brochures and haven’t been here one semester who think otherwise. My friends who took out even $50k to go here regret it (no, not because it’s a bad school). I can’t imagine anyone justifying taking out almost 3 times that much.</p>
<p>This is a FANTASTIC site for debt management. Download the “Money Matters” app.</p>
<p>[You</a> Can Deal With It: Student Loan Repayment, Debt Management & Student Financial Planning Resources](<a href=“http://www.youcandealwithit.com/index.shtml]You”>http://www.youcandealwithit.com/index.shtml)</p>