<p>The most brilliant young man in my high school class went to the University of Iowa for undergraduate (in-state). Then he went to NYU and earned two Ph.D.s: one in math and one in physics. I wonder whether he left NYU in debt?</p>
<p>I have a feeling this problem will be self-correcting. I doubt that it will be possible for the student to get enough in loans to make attendence possible. If somehow enough is secured in loans for freshman year, it will likely not be for any following years. That would still leave the student (or his/her co-signers) on the line for that first year’s borrowing, but not beyond that.</p>
<p>So at least the worst-case scenario (4 years worth of crazy debt) won’t likely come to pass.</p>
<p>^^I tend to agree that this may be the scenario if the August bill is cobbled together under some plan.</p>
<p>“The most brilliant young man in my high school class went to the University of Iowa for undergraduate (in-state). Then he went to NYU and earned two Ph.D.s: one in math and one in physics. I wonder whether he left NYU in debt?”</p>
<p>Ph.D. programs in Math and Physics are usually fully funded. It is not likely that this fellow accumulated any debt for grad school.</p>
<p>^^^</p>
<p>That’s what I was thinking. My H didn’t have to pay anything for his Math and Physics grad school degees. The schools paid HIM. LOL</p>
<p>@jym626 It’s Julian (MALE! GAY MALE!) lmao. I’m not uber-girly, but I laughingly enjoyed people’s gender mix-up. I love how this question took on a life of it’s own. I’m glad some people started seeing the hilariousness of how ridiculous some posters’ violent prejudices became. What else are bored, intelligent homemakers gonna do with their time? It really was silly, that’s why I stopped responding to it all.</p>
<p>And yes, I’ve found a plan. Here’s the deal: NYU costs $60,000/yr. I’ve already secured $16,000/semester (a bit over half of what I need), so I will enter the Deferred Payment Plan NYU offers. You pay the first half of the semester on the payment due date (08/11/10 in this case) and pay it back in two payments in October and November. You can be late on your payments, but they will charge you 1% interest on your remaining balance. </p>
<p>I also am becoming eligible for, at least, another $8,000 in federal loans (thanks to the fact rejection of the PLUS loan and that you can convert Fed. Work Study Funds into additional loan eligibility) and plan to apply to scholarship like hell. In the past week, I’ve done five essays! 
Wish me luck.</p>
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<p>Yeah, those prejudices about posters are really hilarious, aren’t they?
:rolleyes:</p>
<p>@juliang23,
how were you able to convert the Federal Work study funds into loan eligibilty?
Just curious, My D has work study but can never find a job on campus.</p>
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<p>I guess we would disagree on the definition of the word “plan”. </p>
<p>I’ll be interested in knowing whether you make it through the semester… and whether NYU allows you to sign up for classes for spring semester while you are in arrears in payments owed from fall semester.</p>
<p>The OP will be able to defer his payments using the payment plan…but my guess is he will NOT be permitted to register for subsequent semesters if the bills aren’t paid. AND if the bills are not paid, he will also not be able to get a transfer transcript if he chooses to transfer because the bills at NYU cannot be paid.</p>
<p>I wish the OP good luck…but this is going to be an uphill stuggle financially for the next however many years of school…and then there will be the loan payments on whatever he borrows which will also be staggering. </p>
<p>Sorry…this plan is not a plan…it’s a dream.</p>
<p>It isn’t even a “dream”. It’s pure fantasy.</p>
<p>Violent prejudice? Bored homemakers? Really? You come to this forum to ask for help, that is exactly what you received. How dare you insult the ones who took the time to help you out?</p>
<p>Shame on you. Good luck with your plan too.</p>
<p>Shame, fantasy, blah blah blah. I have serious sympathy for those of you who genuinely believe that help is being offered here. Whatever help is being offered is obviously being overshadowed by the supreme amount of *******ry being thrown my way. This is probably my last post to this thread. Most of you are bitter fools, and this “discussion” is getting nowhere. I was looking for genuine, hate-free help, but I honestly don’t care for most of your opinions anymore. Thank God!</p>
<p>^I’m really sorry you have had what you perceive to be a negative experience here on CC, Julian. I think some posters here may have gotten carried away, but that shouldn’t dissuade you from putting the vast resources on this website to use in the future. However, perhaps you should take into account the repeated requests here that you modulate your position - certain levels of debt are never wise - and I say this as someone living in a household encumbered by debt. It controls your life in ways you can’t even imagine.</p>
<p>Believe me, I live around debt! I come from a very poor part of San Antonio, TX. I have a lot of friends with families in that situation. It sucks, but you do what you must. I know the repercussions, though. And I’m definitely going to post on this website in the future. I just meant that I’m done with this particular thread; don’t want to continue fueling the fire, you know? And I definitely took all the wisdom I could from this otherwise nasty thread. Thank you, ksarmand.</p>
<p>^Well, I do admire your determination, but I will say this: Success has many alternating paths. You yourself are an example of that. If you feel that $120,000 (the price of a house) is necessary to accomplish your goals, then so be it. As I am not in your position, I cannot comment upon what I have done during the college admissions cycle, but do take a long look at your alternatives and decide if NYU will be the biggest factor in where you end up 20 years from now.</p>
<p>But your decision to exit this thread is wise. This is a caveat to all future posters on NYU-related topics, I guess.</p>
<p>Julian, I wouldn’t “help” a person jump out of an airplane without a parachute, no matter how insistently they asked. No one in their right mind is going to loan you the money you want. If you enroll in NYU without the ability to pay for the first semester, there is never going to be a second semester. </p>
<p>You can insult the adults here all you want – all you are doing is demonstrating your immaturity and unwillingness to listen to reason. I don’t know what your career goals are – but in the end you are your own worst enemy.</p>
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<p>calmom, this analogy is a bit extreme. </p>
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<p>Well, I’m not too sure. On CC, I was advised to push the envelope, even if it skirted around severe financial hardships, to go to Columbia over an entirely free program with lots of benefits. There is advice that runs sour on either side of the spectrum, whether it is to be fiscally prudent or to throw caution to the wind.</p>
<p>However, a film studies major does raise some questions about OP’s future salary.</p>
<p>Well, I’m not the person who advised you to “push the envelope” – so I can’t comment on that. However, Columbia is an Ivy League university that will definitely pay 100% of need. I can see from your other posts that you are planning to attend Harvard – but I did a search and found a post of yours where you wrote that Columbia would cost >$15k than the Hunter CUNY honors program that was offering you a free ride. I don’t know if you meant $15K total or $15K annually – but that amount is less than half of what Julian is looking at borrowing. You also had posted that your parents are employed, so I assume that (unlike Julian), you would have some help with meeting expenses. </p>
<p>I also see from a more recent post that you plan to pursue a career in “Public Policy/Government/Economics” – there are tons of employment opportunities in those areas, with the kind of jobs that pay a steady salary and benefits. </p>
<p>So your situation is not at all comparable.</p>
<p>Sometimes people just have to do what they have to do. There are a few scenarios – Julian could find some way to borrow the huge amount of money he needs for four years at NYU, graduate, find decent work, pay down that debt over time, and not regret his choice. Julian could do the same, but graduate and be painfully encumberd by debt for many many years, not end up with the career he wants and regret it all terribly. Or he can borrow for the short term, not be able to make the payments because the vast majority of what he’s borrowing won’t be subsidized for starters, so the not only will NYU expect big periodic payments, but every month he’ll be receiving bills on those loans, and he’ll end up having to leave school, have some thousands of dollars in debt, and then try to find his way in life by another avenue.</p>
<p>I think it’s obvious which scenario is most likely, but this is a kid determined to do a thing. At least he’s very aware of the obstacles now, no one has misled him saying “great idea!”, so it’s his choice to make. Good luck to you, Julian. Your life, your choices.</p>