<p>to spend $55,000 or so to study Finance at NYU Stern, when I can go to Michigan for $25,000 (rough estimates but you get the idea).</p>
<p>Because it seems like everyone I talk to (especially my parents) feels like I would be making a pretty stupid mistake.</p>
<p>Just my opinion:</p>
<ol>
<li><p>Business: Ross is as good, or better, than Stern at Wall Street Placement.</p></li>
<li><p>IMO the University of Michigan is a much better undergraduate experience socially. Not even close.</p></li>
<li><p>Michigan is cheaper. </p></li>
</ol>
<p>I can’t imagine why you would want to go to Stern, particularly given the cost savings of going to UM.</p>
<p>Stern is #2 for finance, UM is #5. I do believe that you have to apply to Ross after you complete certain pre-requisistes freshmen year?</p>
<p>Other than Stern being in NYC and thus allowing you to do internships during the semester, I don’t think NYU will give that large of an advantage. I could be wrong, but I wouldn’t think so.</p>
<p>Is the possibility of an internship in New York worth $100,000+?</p>
<p>*to spend $55,000 or so to study Finance at NYU Stern, when I can go to Michigan for $25,000 (rough estimates but you get the idea).</p>
<p>Because it seems like everyone I talk to (especially my parents) feels like I would be making a pretty stupid mistake. *</p>
<p>Your wording is a little odd. Your parents are against this. So, WHO would be spending $55k per year???</p>
<p>Don’t overpay for value. The value of Stern is probably higher, but is it $120,000 higher? Plus interest?</p>
<p>$120,000 can buy one of
<p>Conversely, $120,000 of debt will cost you $792 every month for 20 years. That $792 looks like an additional car payment or two, or an additional 2 - 4 weeks mortgage payment…</p>
<p>I’ll be the devils’s advocate. For some, having the ability to have internships during the school year for 4 years will improve job prospects enough to improve careers earnings a lot. I also think if the OP is from Michigan, an experience in NYC could change his world and give him exposures he’s unlikely to get at UM.</p>
<p>That said, who’s paying. If the parents can afford NYU and are willing to pay, it may be worth the investment. If it’s loans, I would probably not do it.</p>
<p>I just see a lot of fallacy in those statements. Finance recruiting, both at the internship and job position level, is done through a very formal campus recruiting process. There is literally no New York advantage for finance internships in particular. At the MBA level you can get school year internships at finance firms, but even these are few and far between. </p>
<p>And I think Michigan has a much better social life. She/ he will be in New York almost every summer during college, I don’t see that they will suffer a lack of exposure. In fact I would say that for someone who is going to spend every summer in New York and is likely to live there when they graduate, that in fact it might be more important to have a real college experience (i.e. Michigan).</p>
<p>I’ve seen Stern kids working year round for banks, consulting firms, etc., how is that not an advantage?</p>
<p>Listen, I think UM is also a good school and agree it’s probably more fun. But it’s hard to argue that being in NYC year round doesn’t offer some big benefits internship wise.</p>
<p>Thanks everyone for the feedback so far, I really appreciate everyone’s opinion. To answer some of your questions about financing: First of all, as I said in the first post those figures are just rough estimates. I’m assuming I won’t get much direct aid from either Michigan or NYU because my family’s EFC is going to be pretty high. I should get around $15,000 (per year) from one scholarship, and hopefully additional aid from other various scholarships (though to be safe I’m not banking on any of those). My parents have around $35,000 or so saved up for my college education. Besides that it’ll be up to my parents and me to decide how the rest gets paid. </p>
<p>So as you can see, it won’t exactly be $55,000 but the difference between costs is still very apparent.</p>
<p>$15,000 per year = $60,000 over four years.</p>
<p>Add $35,000 gives you $95,000.</p>
<p>This will leave you $5,000 short of Michigan. Summer job/internship earnings or a very small student loan will cover that.</p>
<p>But it will leave you $125,000 short of NYU. Summer job/internship earnings won’t come close to covering that, so you’ll likely be one of those “NYU graduates with six figure student loan debt”.</p>
<p>I am very curious as to how College Data came up with this statistic:
“Average Indebtedness of 2010 Graduates:$41,300”
[New</a> York University Overview - CollegeData College Profile](<a href=“http://www.collegedata.com/cs/data/college/college_pg01_tmpl.jhtml?schoolId=436]New”>New York University Overview | CollegeData)</p>
<p>Wow, the difference in cost of attendance amounts to $120,000, both programs are equally strong and have similar placement rates, and this is still being debated?</p>
<p>Alexandre is spot on. Many in New York will pay much more for the opportunity to go to Ross over Stern. I can’t imagine any benefit to choosing Stern. Based on my own experience in Finance I’d give the edge to Ross for someone from New York.</p>
<p>I live in NYC. I love it. Do you know how expensive it is to even breathe in this city? No question, save your money. Come here later.</p>
<p>NYU has SIGNIFICANTLY more recruiting opportunities and is more respected among banks if you plan on going into finance. Ross is just barely on the radar of one of the hardest industries to break into. Only you can make the final decision though.</p>
<p>PS: I don’t understand why anyone here is saying Ross is better than STERN? Stern is right next to every major bank and consulting firm, and is ranked second in finance behind WHARTON…? And Ross is in the midwest and is much easier to get into, not to mention it doesn’t have the infamous deflation many top schools do.</p>
<p>I generally agree with the other posters…BUT did you get into the Ross School of Business at UM?</p>
<p>Wall Street recruits from the ivies, Stanford, or close to it. Not NYU. It makes so much more financial sense to save your money. You want to study business: going to NYU when you have another good offer would be a bad business move.</p>
<p>OP should read this concurrent thread
<a href=“http://talk.collegeconfidential.com/parents-forum/451672-if-you-cant-do-time-dont-do-crime-cautionary-tale-about-debt.html[/url]”>http://talk.collegeconfidential.com/parents-forum/451672-if-you-cant-do-time-dont-do-crime-cautionary-tale-about-debt.html</a></p>
<p>Yeah, I agree. Save the money and go to Ross. Help me? <a href=“http://talk.collegeconfidential.com/college-search-selection/1270179-umbc-vs-howard-vs-northeastern-vs-fordham-pre-med.html[/url]”>http://talk.collegeconfidential.com/college-search-selection/1270179-umbc-vs-howard-vs-northeastern-vs-fordham-pre-med.html</a></p>