<p>I've been dreaming about NYU for a long time, and it just hit me that the price for tuition and boarding will literally leave my family in the slumps. How do you NYU students afford to go there? I'm from a middle-class family. For graduates, are you all in tremendous debt? What are all the possible options to pay for college as expensive as NYU?</p>
<p>Other than getting a huge national scholarship…not too many options. NYU does not have the financial aid, and the costs to live in NYC as a college student are really, really high. Unless you live at home, NYU is going to be financially improbable for most middle-class students.</p>
<p>You’ll do a lot better to start falling in like with some other schools rather than obsessing on a school that is unlikely to be financially feasible. (I’ll say that even if you haven’t run the Net Price Calculator. NYU met the full need of only 18% of the students last year, and they packaged an average of $5,353 in student loans in addition to large amounts expected from parents.)</p>
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See “I Owe CitiBank $105,000” at YouTube. This guy graduated from NYU.</p>
<p>Choosing colleges is somewhat like choosing a car. NYU might be your dream school, but in reality you need to attend a college that is affordable. Just like a BMW or Lexus might be a dream car to someone who can only afford to drive a Hyundai. </p>
<p>No, not all graduates from NYU are in tremendous debt. There are many well-off students at NYU, while those who need financial aid tend to go elsewhere. My niece, for example, graduated from NYU/TISCH debt free . She also happens to have a generous trust fund established by her wealthy but deceased father. My daughters graduated from a state school and a lower tiered (but generous) private school with significant debts. But they have a living (but very low middle class) father. I THINK my daughters consider themselves to be the more fortunate.</p>
<p>Google “NYU debt stories” and you will get a bunch of hits, like…</p>
<p>The Expensive Romance of NYU in The Atlantic. According to a Village Voice cover story, NYU created more student debt than any other American university in 2011, excluding for-profit…</p>
<p>I know a lot of full pay kids who went to NYU. Somehow, their families could pay. My close friend has her son there–she gets some tuition break because her husband works for a college that has that benefit. That and the student Direct Loans take some of the sting off the price. But I also know families who found themselves in financial trouble after their kids started there. Several are commuting now when they started out living on site. Still expensive, but an alternative available to those within commutable distance.</p>
<p>You can also fall in like with schools that meet full-need. Or in-state options. Or schools where you have a decent chance at merit scholarships.</p>
<p>I honestly don’t see what’s the big deal about NYU. It doesn’t even have a real campus! There are thousands of schools in the US. You are bound to find another school you would like to go to if you try.</p>
<p>Oh, I see the big deal about NYU. It’s a great college ID to own when going to school in Manhattan, It’s a well regarded school, great rep, great name recognition , great rankings. I’d have loved to have gone there, wish I could afford it for my kids. Some of us dream of owning Mercedes, going on the grand tour of the world first class, living in mansions. I love certain full priced colleges.</p>
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<p>Your very good Writing score, unfortunately, is not going to help you. Schools don’t really use it. the Math + CR score is more important. Yours is a 1350. That is not high enough to get a preferential aid pkg from NYU. </p>
<p>NYU does sometimes give great aid pkgs, but usually it is to very high stats kids with need. </p>
<p>You are from NJ. It is an Over-Represented-State for NE schools. NYU gets a ton of apps from that state. They dont have an incentive to give you a great aid pkg.</p>
<p>You need to retest. Take the ACT…I think you will do better on that. You are reaching for some top schools and right now, so you need higher scores. </p>
<p>since you have high need, you also need to make sure that you have some financial safeties.</p>
<p>Have your parents told you how much they will pay each year? If so, how much?</p>
<p>BTW…do your parents own their own business?</p>
<p>@mom2collegekids I have been told that NJ is at a disadvantage for NYU. I will be taking the ACT’s, and no, they don’t own a business. My parents can pay about 20k each year. </p>
<p>Thank you everyone!</p>
<p>NYU is well regarded with a great rep in certain fields (and evidently overseas and in certain circles). Outside of those particular fields, does NYU give you a better education and set you up better than good public flagships like Indiana or UW-Madison? Frankly, I don’t see it.</p>
<p>@tarak6644 what are you planning on studying at college? This could help you formulate your list of ‘likes’. Some good feedback on this thread to you.</p>
<p>@SOSconcern I plan on studying in Business. Maybe Finance/Accounting. I know! This is more than I could ever get from a guidance counselor</p>
<p>NYU is great for certain things. For example, if you plan on studying finance and going into Investment Banking after college, the price of NYU is worth it in the end assuming you get a decent job at a bulge bracket firm. That being said, it’s still only wise to attend a school that you can afford. There are plenty of other great schools with great business programs that cost a lot less than NYU. Also, keep in mind living in NYC isn’t cheap either.</p>
<p>I disagree with @youngandtired about going into extreme debt to attend NYU. It is a big assumption about a job at bulge bracket firm.</p>
<p>@tarak6644 what are your in-state options, what are your stats? How good is your state’s flagship school and other options as far as opportunities for you.</p>
<p>A general statement I will make is that getting relevant business work experience (paid, internship, Co-op) with a college in a major city might help on the career path, esp with tight finances. The largest city in my state has many business opportunities for business students in the state school there.</p>
<p>Thinking business and finance, also maybe consider MIS if you like computers but do not want to do all the math for a CS or Eng degree.</p>
<p>After checking out affordable college options, see how well the business school and placement services are for what you are wanting to do in a career.</p>
<p>Planning every step of the way can be a way to be cost-effective in getting to where you want to go.</p>
<p>Was in NYC recently with D15 to have some fun and also see Fordham, mostly due to their National Merit scholarship. We had some time and thought briefly of seeing NYU, as D15 loves NYC, but then thought, “What’s the point?” Too expensive, no merit aid, little financial aid, not a good enough school to go into deep debt.</p>
<p>@SOSConcern and @vistajay , You guys gave me great advice. I’m starting to consider TCNJ as a backup, and definitely will be applying. I prefer to go out of state, so I’m also looking at Boston College, Northeastern, UNC, and Emory University. I don’t know if I will be able to get into the University of Virginia, but I’ll still apply. Overall, I think it’d be best to leave NYU alone, right? </p>
<p>@tarak6644 You certainly have enough schools that are difficult to get into on your list that you don’t need another in NYU. You might add a couple of mid range schools that are known for giving good FA or where you can get merit aid.</p>
<p>Why pay $250,000 for a Lamborghini, when there is a great $80,000 Lexus for sale right down the street?</p>
<p>I would think it would be depressing to be in the middle of Manhattan and not have any money left to do anything. I’d rather go to an affordable college and then have money left to visit NYC and enjoy it (or to be able to spend a summer there during an internship). </p>
<p>It also can be very depressing for a middle class student to be in the middle of a bunch of rich kids who are throwing around money. </p>