Now we wait. Not sure if I should be happy or utterly terrified.
Well good luck! Hope you get in! How many colleges did you apply for?
IU. NYU. U of M.
Majoring in finance or econ
IU is in state, which makes it the smart option. But NYU is my dream school. So praying I get in with a generous scholarship.
Nice all sound pretty good! Did you apply for any back up/safety colleges? Those are very important.
IU. Already got into their business school with great scholarship!
Me too! Fingers crossed xx which school did you apply to?
Sounds like a win-win! (I wouldn’t necessarily hold my breath for big bucks from NYU as they are notoriously cheap, but fingers crossed for you)
@stehyh Stern and CAS!
@LoveTheBard Yeah, but I’d love to go to NYU and I’m very … iffy to IU (it’s in state and I kinda wanna get away from here).
All I need is like 20k. But I don’t think I’ll get it (parents make too much). My parents will cover 30k per year. So that would leave me with around $80k in loans. Which is … a lot. But for the path I’m taking (Investment banking), an investment that would pay off.
Be wary about NYU giving financial aid (they’re very stingy >.<). It might be wiser to consider other good business schools that can land you in the same path of I banking with less debt such as Kelley at Indiana or Ross at Umich. Also remember that most people at Stern aspire to be I bankers so you’ll have a lot of competition. And unless you’re sure that you want to go into financial services and have a solid knowledge of what I banking is, you might not want to be dead set about having it as a job (from what I know it’s extremely stressful and demanding and is only worth doing if you thoroughly enjoy the subject)
Don’t take out $80K in loans.
Kelley is a smarter choice by every measure. It’s in state, $13k a year, and places well. But NYU is significantly better and … not in state.
It’s something I’ll talk about in depth with my extended family. But most of them have said it’s worth the loans, and I trust their advice.
You can’t take out that much in loans. You can only take out $5,500 freshman year. Any other loans need to be qualified for and co-signed by an adult, who is then on the hook for paying them back even if you can’t. Gonna say, in my opinion no school is worth that in loans, but NYU really isn’t. Paying an extra $50,000 for location is dumb. Stick to schools where you don’t need to take out more than your federal loan amounts ($27,000 total in four years).
Yes, and my parents would co-sign them.
Look, I’ll think it through, and I appreciate the advice, but I didn’t ask for it. And yes, being a block from wall street is worth a certain amount of money simply because of the opportunities it provides. NYU has one of the best investment banking placement rates out of any university (second only to Wharton).
Well, you asked on a public forum if you should be terrified. And if you are thinking about that amount of debt, then I think the answer is yes.
I am applying for NYU econ too~ Do u mind if I ask what your stats are?
higher than yours lmao
no but seriously 2140 sat 3.55 gpa hella ECs
just look at my post history, i made a chance me thead.
As a Kelley grad. And as a Dad of a kid in Kelley Honors currently. The OP needs to go to NYU.
@intparent is giving thoughtful and pertinent advice. Life changing advice. Maybe 80K in hock will be a better education than whatever school is chosen.
It’s interesting that you rarely have these discussions when the students actually have skin in the game. The OP is willing to suck up 120K from the parents (hopefully from a 529) and then ask them to co-sign for another 80K.
Please go to NYU!
Yeah, my parents are in favor of NYU (well, my dad is. Mom is iffy). They think the loans will be worth it and are willing to front the 120k.
NYU will give me more opportunities, being located a mile from Wall Street.
You will spend most of your time on campus during the school year anyway. There is no “osmosis” through the air to your classroom. Plenty of students from other schools get internships and jobs with Wall Street firms (you are taking to someone who works with brokerage companies). Your parents will have to qualify for the loans every year. Depending on the loans, even if you die or become disabled, they can still be saddled with the debt. But hey… carry on. I don’t think you care.
When you say they are fronting $120K, are you saying you will have to pay that back to them as well?
Sounds good. 52K for the highest placement rate at Kelley in the country (93%) versus 200K at Stern, but closer to Wall Street.
You say that NYU Stern is significantly better than Kelley. Maybe…maybe not. But maximize your opportunities, it is the essence of value. Affluence and value are not mutually exclusive (a fools paradox) . Only the best schools teach that. Maybe Kelley could too.
You could get an MBA at Kelley straight through and still save almost 100K. To me, this is a no brainer. But I come from more meager means.
Good luck at NYU!!