<p>I've been accepted to the NYU Stern Scholars Program and the UT McCombs. I didn't apply to the UT business honors(which now I deeply regret) because it wasn't my first choice school. I'm planning to go into either international business or investment banking. UT has covered much of my expenses but I really really REALLY love NYU. Now I'm wondering if Stern is worth the 80k+ debt... can someone help me?</p>
<p>NYU:
Stern Scholarship - 20,000
Pell Grant - 4,260
Work Study - 4,000
Perkins Loan - 2,400
Stafford Loan - 3,500
PLUS Loan - 15,830</p>
<p>===============
87,600 in debt after 4 years</p>
<p>UT:
Work Study - 2,600
Pell Grant - 4,260
Supplemental Education Opportunity Grant - 770 [:p]
Perkins Loan - 4,000
Institutional General Fee Grant - 2,000
University Tuition Grant - 2,700
TEXAS Grant - 5,170</p>
<p>===============
16,000 in debt after 4 years</p>
<p>[but considering some of these grants are initial first year grants... the cost may go up and up and up and up?]</p>
<p>My EFC was 10 dollars... and these universities want me to take out loans that are equivalent of my parents' income [approx. 20,000]... am i the only one that doesn't see the logic in how loans work? or do they expect that NYU Stern graduates will make more than 20,000/yr?... :]</p>
<p>And if not talking about financial abilities... which undergrad business program would you recommend? NYU for its location? or the perks of being in the stern scholars?</p>
<p>I would call the financial aid office - there's obviously something weird going on if your EFC is that low and your loans are that high... I don't know if they promise to meet financial need though, but if they do, you should certainly be getting more in grants. </p>
<p>Well, I've always heard UT is really good for accounting, but Stern's definitely better at finance and international business. You get to go on ISP! And another trip to Europe with Scholars!</p>
<p>well reading from the past posts it seems like ppl only got 1k~2k in the appeal process... although that would help me out. hmm.. is there anyone who got more when appealing for fin. aid?</p>
<p>either way, it's worth a try - they might not be in the same situation (ie, it's only a stretch for them to afford NYU instead of not being able to do so at all)</p>
<p>I would be surprised if you told them that the PLUS loan is basically all of your parents' income & they didn't give you more than $1k...</p>
<p>Thanx muches for your advice. I e-mailed them today explaining my situation and hopefully they haven't ran out of all their financial aid money... :p but like you said it doesn't hurt to try! thanks again!</p>
<p>If your parents don't qualify for the PLUS loan, doesn't that entitle the student to take out a bigger stafford loan (and fill in the difference with some other private loan). I think PLUS loans are some of the most expensive ways to borrow money (short of going to the corner and borrowing from a loan shark)</p>
<p>Stern is deff not worth 90k in debt. You will get pretty much the same job out of UT and with a lot less debt. It's a much much better choice in my opinion. - DAN</p>
<p>well from what i understand with the stern scholars program i'll be in smaller classes than regular stern students... and i didn't sign up for business honors at mccombs so i'll be with god knows how many hundreds of students... :[ </p>
<p>i currently live in dallas so being at UT would be an advantage in distance for me to go back and forth but i doubt i'll be going home every weekend... hmm..</p>
<p>poo... its almost decision time and i can't pick a college! xP</p>
<p>A kid from my school who graduated last year is at UT right now, and he told me that he will be in BHP next year. And he's not the most hardworking/brightest kid I have met, so it definitely is possible. As for Stern Scholars, you have to have a 3.5 for all 4 years, which is not an easy feat to accomplish. Good luck with the decision. You will be in a good school either way, but now you have to decide which one is more worth it for you. - DAN</p>
<p>If you're going into I banking, 88 grand in debt isn't that big of a deal. Stern is known for its finance and internat'l business, so it seems like a natural fit for you.</p>
<p>Eh, if you got into Scholars, it shouldn't be THAT hard to get a 3.5, although it's not true that you're in smaller classes than regular Stern students. You only take 2 classes that are all-Scholars. However, the average Stern class is at most maybe 70 people, with the average probably more like 40, which isn't too bad.</p>
<p>And think of it this way... if you don't like Stern, it's probably not hard for you to transfer to UT (especially since you're in-state). It's probably harder the other way around... Plus, I would be surprised if you can really get the same type of job out of UT than you would out of Stern; admittedly, plenty of ibanks have branches out in Texas, but they're not corporate HQ, and only one kid out of maybe 30 from my internship (he was in credit research) this summer was from Texas. And according to BWeek, the majority of UT grads stay in the Southwest & end up in the accounting industry:
<a href="http://www.businessweek.com/bschools/07/undergrad/profiles/texasaustin3.htm%5B/url%5D">http://www.businessweek.com/bschools/07/undergrad/profiles/texasaustin3.htm</a></p>
<p>In terms of academics, I'm pretty sure Stern is what you're looking for - it's just the money that complicates the issue.</p>
<p>P.S. Even if you can't keep a 3.5, it just means you get kicked out of the Scholars program. It doesn't mean your money's gone, as far as I know.</p>
<p>Thank you all for your responses. I've finally convinced my parents that NYU is the school that I absolutely wanted to go to and they promised to do everything they can financially. :] I'm still waiting for a response from NYU Fin. Aid office for the appeal. If they don't reply to my e-mail, I'm going to go ahead and call them. I'm scared of phone fights... keke.. so hopefully they come back to me soon.</p>
<p>I went to the NYU accepted peoples reception thing past weekend. The assistant director of admission told me that with Stern scholars most of the travel expenses are paid, only about 50 dollars~100 max per trip and the ISP program is fully covered. I figured this kind of shows that Stern is better fit for International business. hmm...</p>
<p>Thanx for the link, youkosiren. I saw the BWeek article but now I really see the difference between McCombs and Stern... For UT, it says only 7%!! of kids decide to take graduate classes right after graduation... but it's 75% for Sternies... I figured it kind of reflect how much the students enjoyed the education they received? And since McCombs is good for accounting, few people pursue a graduate degree... I'm definately considering getting an MBA (hopefully from Wharton which was my first choice and got waitlisted.. :p but i won't get too far ahead of myself)</p>
<p>So from the BWeek Link-top 10 companies hiring from NYU:
Goldman Sachs Group<br>
JPMorgan Chase & Co.<br>
Citigroup<br>
Ernst & Young<br>
Bank of America Corp.<br>
Credit Suisse Group<br>
Morgan Stanley<br>
Merrill Lynch<br>
PricewaterhouseCoopers<br>
Lehman Bros. </p>
<p>From UT:
PricewaterhouseCoopers 49
Ernst & Young 41
Deloitte Touche Tomatsu 31
KPMG LLP 27
Wells Fargo 6
IBM Corporation 6
Microsoft Corp. 6
JPMorgan Chase & Co. 6
Jeffries 5
Royal Dutch Shell 5 </p>
<p>There are no numbers for NYU but the companies definately draw me in. Maybe Wells Fargo and JPMorgan from UT but no other... :p </p>
<p>Woo~ maintain 3.5 all 4 years in Stern... fun stuff! :] thanx, dantheman222!</p>
<p>NYU Fin. Aid replied back that I was being reviewed by the Appeals Committee... it's only been 2 business days... but boy am i on the edge... :p</p>
<p>Why would anyone take graduate courses right after graduation? I would hope they would be focused on making lots of money. Regardless, most top graduate business schools don't accept students without substantial post-graduate work experiencce (unless u are some sort of wunderkind).</p>
<p>
[quote]
I think PLUS loans are some of the most expensive ways to borrow money (short of going to the corner and borrowing from a loan shark)
[/quote]
</p>
<p>I'm pretty sure PLUS loans are one of the best types of loans. You borrow from the govt/your college (IMO, safer than some random company) and your interest rate is capped at 9%, compared to private company interest rates which are almost always over 10%.</p>