$ Emergency!

Paying for College
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<p>Okay, my mom is making me consider ALL options.
What do you all think about deferring a year and still going to NYU in the fall of 2011. Personally, a year off of school would be nice.</p>

<p>Concerns: Working full-time would bring in money, but hurt my 2011-2012 FAFSA aid/institutional aid. Paying for year 1 would be fine now, but what about years 2 and 3 (or 4 [I want to take winter and summer classes to graduate in 3 years, to reduce the overall cost of the college]).</p>

<p>I take all of your input VERY seriously. So be critical with me. I appreciate it!</p>

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<p>What would really change from this year til next year? You may find yourself in a the same predicament. Now you can still take a year off and work to increase the amount of money you can spend towards tuition for another school. What about going to the locall CC for 2 years, then transferring to NYU. These are all possibilities. If you stiil want to go to NYC, why not look into the more affordable options like all the colleges aformentioned and transfer there after 2 years. I’m sensing that it is more important for you to be in NYC, than the actual college you attend. My D meets kids from the CUNY’s at a lot of the events and functions in NYC near NYU.</p>

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<p>CC = not happening, ever.
NYC was not that important at first. I fell in love with NYU, then the city. But I just want to be there. Idk… </p>

<p>Thanks for the advice though :slight_smile: After I visit next week I will know for sure. It will probably be Pace or King’s. I got NYU out of my mind but my mom keeps bringing it back! Lol. She’s disappointed that I’ll be missing that opportunity that no one else in our family has done. I’m the first to get accepted to a good college, really.</p>

<p>But, thats my mom’s thoughts, not mine. I can fall in love with another school too!</p>

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<p>stohare,
I’ve forgotten what your FA package was from NYU, but if you take a year of and earn $$, your FA package next year (assuming they defer yoru admission) will likely be lower, so your net gain may be zero.</p>

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<p>Stohare–we moms do like to brag about our wonderful kids and what they are doing. It’s a character flaw. However, the decision you are about to make will impact your life for many, many years to come. You will be much happier upon graduation if you have less debt.</p>

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<p>It sounds like Stohare is destined for NYC. When he posted that “Okay, my mom is making me consider ALL options”, I get the feeling that “ALL” the options are limited literally to schools in located in the Big Apple. Remember, he already turned down a top 10 finance program (IU) that places at least 30 <a href=“https://ucso.indiana.edu/cgi-bin/brochures/Finance.cfm[/url]”>https://ucso.indiana.edu/cgi-bin/brochures/Finance.cfm&lt;/a&gt; graduates a year on Wall Street for which he would have been in-state and has also burned his bridges to automatic scholarships he was awarded there that would have paid 70% of his IU tuition. I think it is a failure of parenting more than anything. It sounds like his mom is living through him, thinking that he deserves the absolute best since he has always made A’s. Perhaps he is a first generation college student and his parents don’t realize the the best schools in the country are not necessarily located in NYC. It could be something that simple. Or she can’t wait to tell her friends that her son goes to school in . . . [drum roll] . . . New York City. Seriously, picking The King’s College, a school just accredited in 2009 that has heavy religious coursework and only 300 students seems wildly irresponsible given the tremendous in-state program he turned down with its great career office and huge NYC alumni network. I can’t imagine The King’s College having much of an alumni network on Wall Street. Wall Streeters, obviously, tend to be very, very smart-- but what person with half a brain would even consider going to an unaccredited undergrad school, as every King’s College grad has done the past bunch of years? Of course, Stohare is correct when he protests that he would not be able to do internships all year round in NYC unless he went to school there, instead of one or two summer internships in NYC if he stayed at his state school. As if the quantity of internships is more important than the quality for employers eying Wall Street talent.</p>

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<p>I hate to bring it up now, but I stopped reading this thread for a while. Bthomp1 is right - IU is an excellent business school, and from what I understand the selective IBanking Workshop there offers a fantastic edge for a student’s resume. I realize that stohare turned down the scholarship, but what would it cost to go to IU without it?</p>

<p>If NYC is a must, I would actually expect CUNY to carry a better reputation compared to TCK or Pace. Is it possible to gain admission to Macaulay Honors after a year at the school?</p>

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<p>Alittle harsh bthmp especially since it’s water under the bridge. I can’t figure out if you are more upset that someone actually turned down your own state school or if you just want to dig at Stohare…bottom line is IU is gone, not on the table, many moons ago in a different time and different plac it wasn’t on the table for Stohare since Stohare applied ED to NYU so clearly IU was NOT in the picture… so stop beating yourself up over the fact that Stohare didn’t choose IU. We have zip, zero, ability to project out. He’s never, ever said a bad word about IU…it just wasn’t on the radar screen for many reasons.</p>

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<p>Stohare’s issue really is an object lesson as to why binding ED is a bad thing. It looks like, as of last October, Stohare probably could not have expected much financial aid anywhere. His step-dad had a good job, high-end middle class income ($90K), and his biological father is remarried, and probably has income and assets that would be considered at many CSS Profile schools. So I can see why the family mistakenly thought ED would be a good idea – they didn’t realize then that the step-dad would be facing a probable lay off, and they may have mistakenly believed that applying to a FAFSA-only school was their best bet for need based aid. Even up until a matter of weeks ago, Stohare assumed that the financing for NYU could be arranged.</p>

<p>If it were not for the ED mistake, Stohare might have applied to other NY schools – such as Fordham, Marymount, Pace, etc. – and might even have looked beyond NYC. For the RD round, Stohare would have known he needed safeties, so he might have applied to schools that would have given more in the way of merit aid. Then, in April, he would have had numerous offers in hand and perhaps could have made a better choice. </p>

<p>I hate ED. I think it is a terrible system that works in favor of many students, but puts a small handful in untenable situations precisely because of a situation like Stohare’s. </p>

<p>The situation could be the same even if NYU’s stingy financial aid policies weren’t part of the equation – Stohare could have been admitted ED to a school with great financial aid, but still find himself in the same boat because of the change in circumstances.</p>

<p>I don’t think it makes sense to attack his choices now. I think the goal needs to be a plan for the future. Since Stohare apparently has booked a plane to NY, then perhaps once he arrives he will be able to visit the admissions offices of several schools and weigh his options from there. </p>

<p>If he decides to take a gap year instead… then I think it would be good for him to completely reassess what he is looking for in a college, including widening his geographic range. I think that given his complicated financial situation, he would be better off to try to find a school where he could get a decent size merit award.</p>

<p>But he hasn’t made that decision yet.</p>

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<p>I’m not a fan of ED either…but NYU does not use the Profile at all. It’s a FAFSA only school so would not consider the income/assets of the non-custodial parent and spouse at all.</p>

<p>Still…students applying ED really need to look at the costs before making that decision…remembering it’s the colleges that determine how much they think you can pay…not you. I would advise (and have done so for years) if finances are a significant consideration…don’t apply ED. AND before you make a decision to apply ED, have a plan for paying the costs of attending the schools…especially at schools (like NYU) that do not guarantee to meet full need anyway,.</p>

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<p>“I hate ED.”</p>

<p>Me too. And this thread shows how really misunderstood the concept is.</p>

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<p>momofthreeboys, I think for Stohare IU is still a good option. He turned down IU’s scholarship but can still attend there. So you pay about 18K total a year for tuition, fees, room, and board (even without the scholarships) to go to IU for finance or you pay 27k coa (after the 20K tuition reduction) a year to go to the Kings College. Which school has the better finance degree (objectively, it is a rhetorical question, and the state you live in has absolutely nothing to do with the correct answer), and given travel expenses is $40K cheaper to attend over four years even without the scholarships. I’m beating a dead horse, but this thread still has is still cautionary-tale value for future students from states with excellent public universities that are caught in the “I heart NY” mania.</p>

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<p>No, it is not. Macaulay is for first-year freshman students only and accepts no transfers. However, he/she may qualify for CUNY honors programs, which are similarly generous.</p>

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<p>It took me awhile to read all of these. Lol. </p>

<p>@bthomp1: I agree with you 100%. But, the cost I would pay for IU now is the amount I would be paying for NYU at this point (minus their scholarships and all). So, it is not really an option. Plus, my main concern about IU is that I had to turn down their scholarship, Kelly School of Business, AND their Honors College (which are both full now, I called)… so what will that give me? A regular IU degree… with no scholarships and the regular college of arts and science.</p>

<p>Another concern of mine is “transfer aid.” Obviously, if I do choose Pace or King’s, and I hate it… there are A LOT of school that do not offer transfer scholarship or aid. At this point, I feel like where I start is where I’ll end.</p>

<p>I love all of your advice. It scares me so bad that King’s is so newly accredited and small. Pace even doesn’t have the prestigious lure of other colleges.</p>

<p>Should I look beyond NYC? Expand my horizons to schools still wanting people. My dad said I should apply to the University of Tampa? Idk… Lol.</p>

<p>Btw, I was accepted to IU, Purdue, and Hanover in Indiana… all of which I turned down every scholarship and honors college when I got into ED NYU. So those are not options.</p>

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<p>Absolutely! You’re only hurting yourself by limiting your search to such a small area. As someone who lives in the immediate area of NYC, I chose not to attend either of my choices (Macaulay and Columbia) because I felt that it was not the best place to be a college student - for me, that is.</p>

<p>However perhaps a gap year would go in your favor if you did consider extending your college search. Are you still considering one?</p>

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<p>

Yes, although you might want to keep CUNY on the table.</p>

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<p>Are any CUNY schools still available? I cant find any.</p>

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<p>^^Well, if OP is an out-of-state student, CUNY might be a bit difficult, especially because some of them do not offer housing. Hunter has the largest dorms (I believe), yet they are reserved for Macaulay students and athletes, though nursing majors can get housing. Unless OP plans to join a sport or major in nursing, chances are slim.</p>

<p>There is always the option of renting out an apartment, but it does not need to be said that doing so would incur terribly high expenses.</p>

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<p>^^ Wow, it looks like I’m wrong. All the deadlines appear to have closed. My bad.</p>

<p>I think there’s a list of schools still taking apps around here somewhere…</p>

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<p>[Space</a> Availability Survey Results 2010](<a href=“http://www.nacacnet.org/PublicationsResources/Research/SpaceAvailabiltySurvey/Pages/SpaceSurveyResults.aspx]Space”>http://www.nacacnet.org/PublicationsResources/Research/SpaceAvailabiltySurvey/Pages/SpaceSurveyResults.aspx)</p>

<p>This is the list.</p>