<p>Hey, does anyone go to Cornell who's not really rich (and can easily afford tuition) or really poor (and gets more scholarship/grant money)? </p>
<pre><code> I want to go to Cornell, but it looks like Cornell will offer me little financial aid and I will have to take out loans. How did everyone else pay for it? Is Cornell hard to squeeze out money from with scholarships?
</code></pre>
<p>just take the loan fool! yo if ur making about 50k in your first year(depending on what you want to do could be higher/lower) you can definately pay it off quickly. Let's assume you had to take out a really big loan( you probably don't but lets assume) of 100k. That's about half the total cost if you include all costs.</p>
<p>100k can be paid off in 4-5 years if you don't make any major purchases. i think you can live off of 25k as a bachelor if you want to. in reality, your loan will probably be lower so subtract that from 25k. that's pretty reasonable in my opinion.</p>
<p>Hopeful4cornell, there is no guarantee of getting a job right out of college that pays $50k.</p>
<p>looking at the averages i wouldn't say im far off. although i agree there is no guarantee, i think those who seek for a job that pays around 50k can get one or get up to 50k in their first couple years at the job.</p>
<p>My brother graduated from Cornell this year and I went there for two years and will graduate from another school this year. We both financed college ourselves and will have $40,000+ in loans. He is making 50k/year right now and I will make 52k/year when I graduate in May. The cost of living in the area where he works is not very high but the 50k still gets stretched thin after rent, car, insurance, food, and other bills. Where you live and how you choose to live will determine how quickly you pay off your loans.</p>
<p>I will look into the possibilty of getting a part-time job to pay off my loans and leave my 52k for other things.</p>
<p>Hey, look at it as an investment. A Cornell degree is going to bring you back much more than $40,000 when compared to a state school degree.</p>
<p>Some people would disagree... I don't know. After all, it is what you do with that degree that matters, right? But I can tell you that an Ivy League degree commands much more respect outside the US than does a degree from a state school.</p>
<p>If you get into prestigious schools like Cornell, Harvard, etc (any ivy league school), and they want you badly enough, they (usually) WILL find a way for you to go there. I wouldn't worry so much about the finances at the moment than getting in. If you applied ED, get in, and find you can't afford it, you can always get out of it - though it is a long and difficult process, I'm sure.</p>
<p>A general rule of thumb for loan repayment: divide your total debt by 100 and you'll be repaying that much every month for 15 years.</p>
<p>Top schools are tend to be generous with financial aid. My EFC was definitely on the low side but I ended up graduating with about $25k in loans, which is a pretty nice deal and not difficult to pay back. You most likely won't end up with 160k in loans unless you're rich and the parents refuse to help. With that said, 160k is A LOT of money and in my opinion, no school is worth that much in loans. $40k is very reasonable in my opinion.</p>
<p>I suggest applying to multiple Ivies. If another Ivy gives you a good financial aid package, then Cornell will match it. However, they don't match fin. aid packages from equally prestigious non-Ivy schools.</p>
<p>I'm pretty middle class, I think, and I got 8,000 in grants. I'll have about 45,000 in loans when I graduate, which I'm paying for with part of an inheritance that doesn't become mine until I graduate, but still, it's coming out of my pocket. I'd still go if I didn't have the situation taken care of already, 45,000 isn't that much to pay off in the large time period allotted by the loaners. The financial aid office will probably be able to work to accomodate your needs, to an extent. What exactly is your perception of middle class? I think we might be able to help you out more if you were to give us a general range of incomes that you consider to be middle class.</p>
<p>Hey,
If I get in as a transfer student I am in the same situation. I would be majoring in economics out of arts and sciences with an unoffical concentration in math. I consider myself middle class (parents make about 65K combined) and I would graduate with about 45K in debt becasue my parents wont pay for any of my school. Is 45k worth it for only 2 years? Does a transfer student get almost the same carrer prospects as a 4 year grad. I dont know. But I can say this, if you are ambitious, go for it. I have attend my local state uni and lived at home so far and I can say that besides my friends, it sucks. I know we all tend to think of college as an investment. But more than that, its an experience. I would be willing to pay about 15-20K total just for the experience. At some point you have to ask yourself how much you will pay to be educated and follow yor dreams, be indpendent of the business world for at least a few years. But then again, I may be paying off my debt until I am 50 becasue I want to work in the public sector.
Anyway, thats just my opinion.
No doubt, it's a tough decision. remember though, transfering to save money is an option.</p>
<p>the situation is really weird for people 'not qualified for F.A.', a.k.a. middle class</p>
<p>both my parents are doctors but we are by NO MEANS rich. if i get in i would have to take a loan out, or my parents would have to sell the house !! lol... hopefully doesnt come to that, but yea, being the middle class boat isn't as comfortable as it is made to look. someone aspiring for four years of a private university education could end up making his/her family poor by doing so. going to the ag. school or other semi-state funded schools for new yorkers is a great way to go, but it's still expensive, not to mention living in NY cuts your income to about 59% after all taxes- robbery if you ask me.</p>
<p>my advice-
go to cornell,
become something that pays well- you'll be happier than doing what you like for less money IMO.
live in FLA or TX, no state income tax=huge</p>
<p>yea, just my take on the issue</p>
<p>i'm lucky enough to have parents who pay for everything via checkbook. </p>
<p>I cannot imagine any state school (or most other private schools) having the same resources that Cornell has. All of my friends at other schools work at fast food chains, grocery stores, or Hooters restaurants (4 of my friends did) over the summer ... many (if not most) Cornell students do internships. It's really easy to get a high-paying internship from Cornell's career services. This sets up a fantastic resumes and connections, and is certainly a plus for students applying to grad schools. This totally justifies some debt. $160K would be hard to swallow, but $40K in loans from here is nothing.</p>
<p>lets not start arguing about taxes...haha</p>
<p>i know the graduated thing sometimes feels unfair, but my favorite is when you get low income people complaining about the government robbing them. They're the ones with the lowest taxes, and I feel like sometimes they totally ignore where the money goes to in part: regular services that everyone benefits from like police and fire, social specifically for the low income people.</p>
<p>All that said, and taxes aside: college is rediculously expensive</p>
<p>well what im trying to say is,</p>
<p>lets say new york resident Mr. X is a.... podiatrist, and is supposed to make 100k a year and his daughter wants to go to, say, harvard.</p>
<p>it, in ideal circumstances, is quite possible for Mr. X to pay for each year's tuition (~40k +/- 5k) with cash and give Mr. X and the rest of his family a living on ~40k (20% taxes). unfortunately, the lovely state of NY cuts his remaining living income to under 19 grand, not including any sales taxes, which is almost enough to pay a friggin year's cingular bill (intended exaggeration). </p>
<p>i don't know to what extent taxes really play a role in the inability for so many middle class families to pay for private tuitions, but i can say what makes college so 'ridiculously expensive' for my 'rents and many that i know of, are the intense severity of taxes.</p>
<p>sorry about that blabber, i just think they're important in this topic...and thats a definite 'IMO'</p>
<p>Cornell is generous with financial aide. My son received more financial aide from Cornell than any other school he applied to / non scholarship related that is. There are many payment plans, some without interest and not everyone is rich! Just make sure you budget for more than tuition and room and board as there are always several thousand dollars woth of extras that creep in especially the first year! Good Luck!</p>