Hey guys, Stern is definitely the best school I’ve gotten into. I’ve narrowed it down to between this and Rutgers NB for business. I have an interest in finance and I know Stern is the better school, but they didn’t give me ANY financial aid, so I’m paying full tuition. I’m part of a brown middleclass family in NJ, and without and financial aid Stern comes out to be 80k (housing), which just seems outrageous to me, whereas Rutgers would be 15k (commuting). My mom told me she can pay and really wants me to go (probably because of prestige and better opportunities). My sister is saying she wants me to go to because I might regret it later on, but I don’t know at this point. My family seems obsessed with the name brand of Stern, but I don’t think the prestige is worth 320k though, especially if I want to go for a masters! Sure I’d be bummed if out I couldn’t go to Stern, but I’d be fine at Rutgers. Its just depressing that this is why I might turn down a really good college. I would love to hear your guys’ opinions.
Stern is NOT worth full pay. No degree is worth 320k if you can’t afford it.
Rutgers is an amazing school with very successful graduates.
If your family is really concerned about Stern’s prestige, here’s a list of Rutger’s rankings: https://www.business.rutgers.edu/about-rbs/rankings
Rutgers also has dual degree programs that’ll allow you to earn a bachelors and masters while saving tuition.
Does your family have $320k to comfortably pay for Stern (with no loans/no hardship)? If so then it is fine to go. But I would not get caught up in a ton of debt when you have a good, affordable option.
I agree with @izrk02 --no school is worth $320,000 especially in undergrad. Rutgers has a very good reputation. Tell your mom if she wants to pay that much money that you will go to Rutgers and she can help you pay for grad school or the dual program mentioned. Or buy you a car, a down payment on a house, etc. Better to give it to you than to a college.
You seem to understand this better than your family. Your first wise decision in business would be based on value, and I don’t think Stern would provide you with that much more value than Rutgers. If you got a job for $65,000 out of Rutgers and another for $75,000 out of Stern (that isn’t usually the case, but for these purposes let’s say it is), your break even point would be 26 years, not counting the future value of money.
I said this on another thread, but I don’t get the fascination with going to undergrad in the city. NYU would be great for grad school, but I think a public university in a college town or small liberal arts school is a better place for an 18 year old.
its definitely a hard decision to make. What career path are you leaning towards?
I want to do something in finance, maybe investment banking. But these are not set in stone.
If your family it truly middle class, Stern is unaffordable. Families can fall in love with famous-name places, but unless this $320k over the course of four years is easy for them to pay, there are a lot of other places that money could go. Your mom might not want to go deep into her financial affairs with you, but if she’s not truly ready, willing, and able to do that, then she doesn’t really have the money. Your sister who wants you to go so that you have no regrets, does she make enough money to pay for Stern? Tell both of them that you love them enough to save their financial hides, and go to Rutgers. If part of the lure of Stern for was that you’d be having the on-campus college experience, look into living on campus instead of commuting.