NYU Tisch- worth the money?

College Search & Selection
1

<p>Hi,
I'm stuck in a dilemma between which college I should go to. Obviously, the only thing holding me back from going to my dream school (NYU) is money. </p>

<p>I've been accepted into the Tisch school of the arts for dramatic writing, and this is definitely my dream as I hope to go on to become a writer for SNL or some other TV show. Unfortunately, the total cost of tuition is about 66,000 and I've only gotten 24,000 in scholarships from Tisch. There is a loan on my financial aid summary that is called a Federal PLUS loan for 30,000 that my parents would need to take out. However, our car was recently repossessed and I know they won't pass the credit check. Therefore, I would need to cover the cost with some private/student loan (I'm not really sure how that works). My parents were definitely willing to let me go, but I was wondering if the cost was worth it. </p>

<p>On the other hand, I've also been accepted to the University of Florida (which is my second choice), and I would be really happy to go there but I don't know what I would major in. I literally have been looking for months trying to decide but UF doesn't have a great dramatic writing program and I'd basically have to pick something that I just sort-of liked doing. Anyways, UF is making me pay about 14,000 in loans every year, and part of me feels like I should just pay the extra 16,000 and follow my dreams.</p>

<p>Obviously, I'm looking for a million reasons to go to NYU, so I can't take a very objective point of view on this, which is why I'm posting this. I've already contacted the financial aid office at NYU and there's really nothing that they can do for me except tell me I should review my FAFSA. There's nothing I can change on my FAFSA though; my family seems to always just barely miss the 'full ride' limit. In other words, we're the richest of the poor. I've gotten one scholarship for 1,000 and I realize that I would need to work really hard to get more scholarships if I went to NYU, but like I said I'm really willing to do anything to get myself there. Of course, I would be happy at UF but at some point I would regret not taking the opportunity.</p>

<p>Anyways, I just wanted to know if anyone had some feedback: what do you think about the situation, what you would do, if NYU Tisch is really worth it, etc. </p>

<p>Thanks</p>

2

<p>NYU is famous for giving very good aid to a very small number of students that it really wants, and very bad aid to everyone else. You aren’t alone in that at all. You need to find the strength to kiss NYU good-by and get on with your life. </p>

<p>You can’t borrow more than the Stafford Loan maximum on your own ($5,500 for the freshman year). This means that UF isn’t affordable for you either right now. Do you have any other options? How much money are you getting from Bright Futures? Would that cover two years at a community college while you save up for your last two years at UF?</p>

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<p>YOU won’t be able to borrow the money. Banks don’t loan to kids without large incomes and great credit (obviously few kids have their own large incomes). Your parents would have to co-sign and they won’t qualify.</p>

<p>Unfortunately, this school isn’t affordable. You’ll have to choose another option.</p>

<p>Anyways, UF is making me pay about 14,000 in loans every year, and part of me feels like I should just pay the extra 16,000 and follow my dreams.</p>

<p>You won’t be able to take the “extra $16k” in loans. No one will give you that.</p>

<p>You need to accept that NYU is not possible in any way. I don’t think you understand how that kind of debt would ruin your life even if your parents were qualified co-signers.</p>

<p>What loans is UF offering? Are you a frosh? You can’t borrow $14k either. If you were offered $5500 in Stafford Direct and a bit of Perkins, what’s the rest? If you’re offered Plus, your parents won’t qualify. But, if they get denied Plus, then you’ll get $4k more in Direct. Still not $14k. </p>

<p>What is in your UF pkg?</p>

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<p>[I’m&lt;/a&gt; Graduating From A College I Can’t Afford | NYU Livewire](<a href=“http://journalism.nyu.edu/publishing/archives/livewire/money_work/gen_debt/]I’m”>http://journalism.nyu.edu/publishing/archives/livewire/money_work/gen_debt/)
<a href=“Another Debt Crisis Is Brewing, This One in Student Loans - The New York Times”>Another Debt Crisis Is Brewing, This One in Student Loans - The New York Times;
[NYU</a> Has Highest Total Student Debt in the Nation · NYU Local](<a href=“http://nyulocal.com/on-campus/2010/08/18/nyu-has-highest-student-debt-in-the-nation/]NYU”>http://nyulocal.com/on-campus/2010/08/18/nyu-has-highest-student-debt-in-the-nation/)
[NYU</a> Students: Debt and Debtor - Page 1 - News - New York - Village Voice](<a href=“http://www.villagevoice.com/2011-11-09/news/debt-and-debtor/]NYU”>http://www.villagevoice.com/2011-11-09/news/debt-and-debtor/)</p>

<p>Even the UF debt of $52,000 total is rather steep for your major, which is not that highly paid at graduation. $120,000 of debt at graduation from NYU is likely to be a big problem for an artist. Do you have any other lower cost acceptances?</p>

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<p>ubalumnus, thank you for the links. If I go to UF, I won’t major in creative writing but a more stable major like engineering or some science. Btw, do you know what UF is known for in terms of majors? That would be helpful. I think I may end up just going to UF. I was given 20,000 in financial aid (total cost is 21,000) and about 15,000 is in loans. 9,000 is PLUS loans (around 4,000 a semester), so im wondering if i’ll get back 4,000 per semester or year?. I have a 3,500 fed direct loan and another 2,000 unsub loan. Pretty crappy. </p>

<p>As for going to a community college, I’m sorry but I can’t bring myself to. I spent four years in the International Baccalaureate Program to avoid that and get full bright futures. As I said, I have one scholarship and there’s another specifically for UF that I’m fairly confident that I’ll get. </p>

<p>I have been accepted into FIU and I’d have to pay about 3-4,000 a year in loans and be in the honors college. Don’t get me wrong, this sounds like a great deal, I just have never had a desire to go to FIU. I understand that my financial situation outweights my personal preferences, though.</p>

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<p>Note that not all sciences have good job prospects. The most popular science is biology, where the job prospects are generally not good for those who do not go to medical or other professional school.</p>

<p>Engineering is generally better, but is subject to economic and industry cycles. Computer science and engineering employment was very poor in 2001-2003 (tech bubble crash), but relatively good in the recent downturn, where the construction and real estate crash was very bad for civil engineering graduates.</p>

<p>Take a look at the <a href=“http://talk.collegeconfidential.com/internships-careers-employment/1121619-university-graduate-career-surveys.html[/url]”>http://talk.collegeconfidential.com/internships-careers-employment/1121619-university-graduate-career-surveys.html&lt;/a&gt; to get an idea of how different majors compare.</p>

<p>Regardless of which school you choose, you can take some creative writing and similar courses as breadth electives alongside any major.</p>

<p>I hope you like designing things using math and science (i.e. engineering), because UF with $52,000 in debt at graduation is not exactly an affordable choice unless you graduate with a degree with good job and pay prospects. Also, if you are not admitted into the engineering division, check whether it is easy or difficult to transfer into an engineering major. Applied math with actuarial jobs under consideration may be another option, but you better like math if you want to do that.</p>

<p>Generally, I don’t like the idea of students choosing their majors only for job and pay prospects if they do not truly enjoy them (and a lot of people here have similar views, although students should certainly be informed of job and pay prospects before deciding). But if you attend a marginally affordable school that will leave you with big debt at graduation, you may be forced into such a choice.</p>

<p>And community college is not necessarily a bad option, unless you are itching to take upper division courses as a freshman or sophomore or want to do a major whose prerequisites are not available at community college. Some top students attend for financial or other reasons, transfer to the state flagship, do well there, and go on to top PhD programs in their majors.</p>

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<p>I’m also applying to Tisch as a Film major and honestly, if I’m not getting a good scholarship from NYU, I’m not attending. I know I sound very vain, but I don’t want to graduate with a huge amount of debt, especially with the field I’m going into. The chances of me getting a job right away after graduation is very low, and a job that pays decently is even lower. NYU is my dream school, I’ve been in love with it ever since I first started researching about it. But because the field I’m going into is so competitive (like all other art/entertainment-related fields), I won’t be able to pursue my dream after graduation if I’m deep in debt. I’d have to work my butt off doing something I’d most likely hate to pay off the loans, and unless I catch a very good break, my life will eventually devoted to paying off my debt, and not going after my dream. And with this economy? Yeah. I think you’re aware of that already.</p>

<p>That’s the reality. I mean, we can hope to catch a good break, but we have to be realistic as well. It’s unfair that we art majors have to do this, but since you and I have both decided to go into the arts, we have to the realistic about the chances of finding jobs in these fields. We can’t afford to go with think “Oh one day I’ll be famous and all the debt will magically disappear!” if we want to make it in the arts. It’s a tough world out there. I have thought long and hard about this, and was very upset that I might have to give up on NYU for a while, but I know it will be for the best. If you want to talk more about this, I will be happy to discuss it with you.</p>

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<p>DramaticWriter16,
Did you apply early decision or regular decision?</p>

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<p>*ubalumnus, thank you for the links. If I go to UF, I won’t major in creative writing but a more stable major like engineering or some science. Btw, do you know what UF is known for in terms of majors? That would be helpful. I think I may end up just going to UF. </p>

<p>I was given 20,000 in financial aid (total cost is 21,000) and about 15,000 is in loans. 9,000 is PLUS loans (around 4,000 a semester), so im wondering if i’ll get back 4,000 per semester or year?. I have a 3,500 fed direct loan and another 2,000 unsub loan. Pretty crappy. *</p>

<p>???</p>

<p>Are you instate for UF? Were you given Bright Futures? If so, how much.</p>

<p>You say that your parents credit is bad. If so, then THEY won’t qualify for that $9k in Plus loans (those are PARENT loans…not student loans). They will likely get denied, then you’ll be offered $4k in loans, (not $9k).</p>

<p>What exactly is in your UF aid package?</p>

<p>Sounds like FIU is your affordable choice.</p>

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<p>FloraEscent, I have been dealing with the same things. But you’re right, putting our dreams on hold for a while does not mean that they disappear. It took me a while to swallow my pride and let go of the opportunity to go to the Tisch school, but I know it’s not realistic thinking that the opportunities will get rid of the massive debt. </p>

<p>momoffilmstudent, I applied for regular decision at NYU. </p>

<p>mom2collegekids, I am instate and I will be given full bright futures (3,000) if I graduate with my IB diploma. I find that out in July. I have around 15,000 to pay every year. If what you’re saying is that I get 4,000 per year and not semester, then I will have to pay 11,000 myself every year with loans and my parents will have to come up with the other 4,000.</p>

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<p>Plus if you really want to go to NYU, you can always apply for their grad school. Going somewhere cheaper for undergrad and save up money for grad school is better if you need it to find a job, but let’s hope we’ll be able to find a good job without a grad degree (although that’s very unlikely)!</p>

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<p>dramatic…</p>

<p>Let’s use real numbers so we’re on the same page.</p>

<p>What is the COA breakdown of UF?</p>

<p>What exact aid have you been given so far by UF (give amounts for grants, loans, work-study)?</p>

<p>How much can your parents pay?</p>

<p>What is your EFC?</p>

<p>Don’t include Plus loans since those are for parents and they won’t qualify. </p>

<p>It sounds like you’re getting…</p>

<p>$3k for Bright Futures (is that right)?
$5,500 in Stafford Direct loans.</p>

<p>What else?</p>

<p>Any Perkins loans?</p>