<p>Im just curious, how many of you will come out of NYU with over 100K in debt? And how do you plan on paying for it? Im freaking out here - I dont want to be paying this crap off for the rest of my life.</p>
<p>Oh, and I read on some news site that NYU will forgive all debt if you take on a public sector job after graduation - this, the news report said, was because teachers and government workers found it nearly impossible to pay back loans on their measely salaries. Is there any validity to this?</p>
<p>I'd suggest getting loans and, during college, get a job. Classes don't take that much time and you can start paying it off while you're still there.</p>
<p>Also a lot of people apply for scholarships even while in college and use the money to pay off debt. But any other suggestions would be helpful to me too.</p>
<p>Well, im a transfer student and im fairly saavy to how to pay for college (I came from UC Irvine), but with the enormous amount of debt im accruing at NYU is just plain staggering. I have loans and I actively apply for scholarships/work, but even with that my chances of making enough to significantly drop my loan amounts is fairly low. </p>
<p>Anyone have any better suggestions? I know there isnt much out there and I wont be able to work my first semester simply because I need to get used to the NY lifestyle - ive been in Irvine for the past two years surfing it up - its going to be a hell of a change freezing my ass off in NY - gonna love it though ;)</p>
<p>dont go 100k in debt for nyu</p>
<p>I'll be about $70000 in debt by graduation, I think. If my dad get's a promo, though, probably only $40,000-$50,000. Still a lot, but manageable in the long run.</p>
<p>I'm going to have to apply for an Excel loan b/c right now my dad's credit is in the pitts, and we don't qualify for a PLUS Loan (which seems stupid to me b/c the whole point of hte PLUS Loan is that you can't pay for NYU out of the pocket...). Anyone have any info on the Sallie (Nellie?) Mae Student Excel Loans? They have higher rates than most other loans offered (obviously) and I have to take it on without a co-signer b/c bad credit w/ dad and mom's not going to co-sign...so, anyone else out there had to apply for one of these? How are they?</p>
<p>Well, I cant vouch for the Excel loan, but I can say that I feel ya on paying for college yourself with a high interest rate. Since I have almost no credit line, everything will be expensive for me (regarding loans). Technically, I wont be at 100K for NYU - ill be at about 80-90K. I keep reading that I shouldnt go into 100K in debt, but thats easier said than done. I cant drop out of school obviously, so im stuck in the situtation im in. </p>
<p>As I said earlier, can anyone vouch for that public sector debt forgiveness thing? </p>
<p>"NYU has responded by establishing one of the most generous "loan repayment programs" in the nation. The law school forgives the loans of graduates who take public-interest jobs that pay less than $42,000 and partially forgives the loans of those who earn less than $72,000 upon graduating."</p>
<p><a href="http://www.csmonitor.com/2004/0309/p11s01-legn.html%5B/url%5D">http://www.csmonitor.com/2004/0309/p11s01-legn.html</a></p>
<p>I know this is law school, but im still trying to figure out if I can use this to my advantage as an undergrad.</p>
<p>Outono Noite:</p>
<p>As an undergrad, I doubt you'll get anything out of that loan repayment program. I don't know anything about it, but it's possible that they only forgive the costs of law school, not law school and undergrad.</p>
<p>Frankly, I wouldn't go $100k into debt for NYU.</p>
<p>no its not just law school. i remember reading that when i was looking at majoring in social work.</p>
<p>If you don't have any other options, consider transferring out.</p>
<p>man im pulling 35k for nyu and I still think thats too much.</p>
<p>and you guys have to remember that 100k in debt is really much worse than it seems. if you dont get a good interest rate or take a long time to repay it, it could easily top 200k with interest factored in. You also have the implicit cost of not investing a portion of the 200k, in which you probably would have if you didnt have the loans. and also the fact you will have to rent (which gets your not property) much longer, instead of buying a house since you wont be able to afford a down payment ( which has value)</p>
<p>a 100k loan can easily top 250k in lost networth.</p>
<p>I know there are people who go into NYU with loans as their only source of payment. My grandmother's friend's daughter just graduated from NYU with over $200,000 in loans.</p>
<p>I don't know how that'll work out, but I'm convinced thousands in loans is worth it. But that's just me...my only other option if I were to leave now is community college in TX...and I would pretty much rather die.</p>
<p>I think some of ya'll are being a little scary with your "If you don't have any other options, consider transferring out." Plus, I think I have an incredibly better chance of getting a good, well paying job coming out of NYU (with the school itself's influence and the large internship program) than any other school.</p>
<p>That's just me, though, and I've never been too practical, or cared to be.</p>
<p>(& By the way, this is all opinion so I would appreciate it if no one attacked anything I said because all this talk of money gets them so excited. I'm not in the mood :)...)</p>
<p>There is an appeal form for returning students for additional scholarship money. the student sends an email request and NYU responds. D got extra money every semester. D also scheduled her classes Tues, Wed Thurs and could work at great paid internships which got her a good job after graduation. Yes, she has alot of debt but it is manageable. Check the financial aid site at NYU. While sometimes they can seem not to care whether or not you can afford NYU since you're so lucky even to have gotten in, every so often they come through. Good luck to you all.</p>
<p>Do you happen to have a link to this info, ADREW? I haven't come across it.</p>
<p>I might not go to NYU anymore</p>
<p>Go to NYU.edu. (Not NYUHome) Drop the list on Admissions. Click on financial aid. Their is a list of forms -- one is "appealing financial aid for returning students" Long list, like "applying for summer financial aid" etc. PM me if you still need help.</p>
<p>I was just trying to throw ideas out there, lindseygs. If the OP sent out transfer apps, (s)he would have more options to choose from. I'm not necessarily saying that (s)he should give up on NYU.</p>
<p>I know, I didn't mean to attack what you said. I meant that it seemed scary to me to up and have to cancel your first year at NYU and start all over. This late, the only options left would probably be community college. My mom still...to this day...thinks she can convince me to drop NYU. The other day she said to live with her and go to community college...which is not even an option in the slightest with me.</p>
<p>Thanks for understanding. :) And I think that you're making the right decision. I made the same choice from a similar situation, so we'll let time tell us if we did.</p>