Hello everyone! This is my first post on this site and I have been reading everyone’s discussions for the past few days and they all seem so helpful. I decided that maybe it would be best for me to make a post about my situation. Last Thursday I was accepted ED into NYU Tisch for film/tv production. NYU is my dream school, it has been for many, many years. There is something about the city, the school, and the overall program that has always spoken to me as an artist. I was not expecting to get in as it seemed like a bit of a pipe dream. But when I got the application status change I was ecstatic! I got a $30,000 Tisch scholarship and when it comes down to it NYU covers about half of my tuition. My parents are not wealthy, and they would only be able to afford $7,000-$17,000 per year. My dad is stubborn on the fact that I cannot go and it will completely ruin my life in every way possible where my mom just wants me to make whatever decision makes me happiest. Is the debt worth it? I am begging someone to tell me if it is, so many people have given me completely different opinions on this horrible decision. I am at a bit of a loss here and I know I would regret not going heavily but I would also think I would regret the debt. I also know I am an incredibly driven person, and I will do whatever it takes to make my dreams come true. I am also so worried this will affect my future standings as a father. I want to have a family but what if they loans get in the way of that? I have gotten I also got into Fordham film (no idea on the financial aid yet and I do not want to attend), and yesterday I was sadly deferred by LMU film. I do not see myself attending any other school, it is hard for me to get out of my tunnel vision. The only other school I could really see myself at is Chapman but alas I have not gotten my decision back from them and will not until after I make this decision. My enrollment/deferment is due January 3rd. Please help me, I am incredibly loss and for Christmas all I want is to feel at peace with this.
Who is going to loan you this money? the max that you can borrow is $5500. Your parents will have to borrow this money. Are they willing to do so?
If your parents will not pay more than $17k for college , and NYU is throwing in $30k, you are still short of what you need to go there. You can take out $5500 freshman year in your name. Anything else needs a co-signer and they would be in the hook along with you for repayment. Not a good thing to do to your parents unless they are willing and able to take on a large loan.
The field of film generally has lean years after graduation. I know many who majored in that area , many from NYU even, and they are in tight financial straits. Most still getting parental help financially.
So, no, it’s not your debt, but your parents’ you are considering, and that’s not a good thing to push them into taking. NYU is not worth putting reluctant parents into debt.
@filmboy88 - Follow your dreams. It’s your life. However, if you can’t afford NYU, then you should move to Plan B. Talk some more with your parents. Since they are helping to underwrite your education, your conversation should be with them. You three should huddle together and decide how to move forward. You have options. Best of luck.
What was the NPC outcome? You understood the ED agreement? You cannot borrow the money. NYU ED is for applicants that can afford it.
You said above you’re incredibly driven and will do whatever it takes to make your dreams come true. If this is true you are going to be okay wherever you go. NYU isn’t going to make or break you.
You and your parents can’t afford NYU. It’s heartbreaking right now but you will be more than fine wherever you go. You/they will regret the debt more. Nothing like the freedom to graduate with no debt! I couldn’t attend my dream school because of money too but life is more than great. I have co-workers in their late 30s and 40s who hope to pay off their own student loans before their young kids get to college. And they make good money. As an artist you have no guarantees. My D is an Acting major at the TTS DePaul and I understand that. Fortunately her school does too and they were very generous with aid. Go where your future will not be burdened by loans. College is only 4-5 years, don’t make it longer financially.
Steven Spielberg got his film degree from Cal State Long Beach. It wasn’t the college that made him, it was his talent.
NYU is not affordable.
Are Fordham and Chapman Dodge the only other two applications you have?
Are those schools affordable per their net price calculators (NPCs)? If you haven’t completed those do that today with your parents.
If those schools don’t look like they would be affordable you will have to send more applications, or take a gap year.
This article should speak to you. Many articles out there about the high debt people are in from NYU.
https://nyunews.com/2019/11/11/nyu-students-dont-know-if-the-degree-is-worth-the-debt/