I feel like I have seen a bit hate on NYU for not giving a lot of financial aid but I still really love the school. I did get a bit more than most people and they are asking me to pay $30,000. I looking for scholarships and I will take loans if needed. On thé other Howard is calling my babes bit Im and I know they have a good alumni network and they still want me to pay like $24,000.
So which do I do?
Depends on what you want to study.
Would you want to attend an HBCU? The two have very different vibes. Who would cosign your college loans? You, the student, can only get a loan of $5.5K for your freshman year.
i want to study business
I like it because it’s an hbcu yeah I would with my mom. Either way I will have take student loans. On one side I want to party with my black people and on the other I want to explore and understand new cultures.
A few random comments:
The two schools are very different – a HBCU and a large urban school with no real campus. Do you have a preference?
Did you get into Stern at NYU? If not, you won’t be studying business.
Are both schools affordable? You can only take a very limited amount of student loans ($5.5k as a freshman) without your parents co-signing.
Yeah I know there different but I like both I have always wanted NYU I like
That there is no campus I got into the liberal studied core program and I am hoping to get into the school of business my junior year when I pick a concentration. Really I don’t want to pay much but I as I said NYU wants me to pay 30,000 and Howard 23000. My mom would co sign a loan if necessary either way
I don’t think you can count on transferring into Stern.
And be careful how much debt you take out.
What cheaper options do you have? What is your home state?
I if I don’t get to go into stern then I will still be admitted into the school of arts and sciences
these are the 2 I want to go to. I am from Georgia. I did get into uga and Spelman
If you had to choose between NYU and Howard which one is better, with money not being a factor
The thing is, money is a BIG factor. Between NYU & Howard there is the price of a car.
You have obviously worked hard and achieved a lot to have these offers, and I can see why they are more exciting than the close-to-home options, but…what is the cost of each (once you factor in HOPE)?
Howard is having some financial issues, so I would hesitate going there, especially if you have to go into debt. If you can major in business at UGA or Spelman with less debt than I would take that route. Transferring into Stern is very difficult.
I’d be careful - most NYU schools are automatic transfers from LS core, but Stern isn’t one of them (and I think for those who can, there are limited stern programs to transfer into). I’m also not sure if you would be able to do enough electives during your first two years to complete a Stern major within 4 years, which would change the cost calculation. I’d suggest you try talk to someone in Stern at NYU to see exactly what the process is from LS. My understanding is that most LS core students transfer into CAS. Also, if business is your primary interest, are you really going to be happy spending two years immersed in the LS core subjects?. They are very humanities and social science focused. My daughter is at NYU and I don’t have any “hate” for it at all - I’m just not at all convinced that someone aiming at business is going to be happy with this route.
Not really a true statement, at least not today. I can talk about Howard from the perspective of having a kid on a full ride scholarship and another kid offered a full ride there in the class of 2020 and I have looked at Howard’s bottom line which is published, over the last few years. Last year’s media scare about Howard was by students kicked off of their scholarships, but those students did not fulfill the scholarship contract that they signed. Some of those students complained about not getting early notice of their impending removal from their scholarships, but the scholarship contracts they signed were the early notice and most scholarship contracts at Howard don’t have a way to appeal insinuating circumstances.
Howard University has a +820 million dollar yearly budget, gave over 106 million dollars in scholarships last year, and had almost a 700 million dollar endowment (easily the largest out of all HBCUs the last time I looked a year ago) which put it in the top 100 institutions in America at the time (source of endowment rank: College Raptor). Howard also receives a yearly congressional appropriation of 220 million dollars due to its Federal Charter. Looking back, the only true financial issue that I could find over the last 10 years dealt with Howard Hospital losing money which was dragging down the school and they have found a way to even to break even/turn a small profit the last few years while mitigating that risk with partnerships to run the business side of the hospital People also like to talk about the 429K that was stolen/misappropriated over a 4 year period, but with the size of Howard’s budget, that was never a crisis (more of a PR nightmare).
I know a few people who have attended both schools and they have a love for both schools. What are you looking for from a school? Being in GA as well, I wanted to ask if there something about UGA that doesn’t work for you? Are you on schedule to get Zell Miller? UGA has a fabulous business school (Terry) that is among the top 20 USNWR ranked and it would be your cheapest option. My daughter personally loves Howard, but you would need to evaluate the school and all of your final schools from your own personal/financial situation. But be wary that a 120K loan subsidized loan (it is more likely that it would be the more expensive unsubsidized loan) with 5K in loan fees and a 5% interest rate would cost you almost $800 a month for 20 years (or 240 months) to pay off. Are you or your co-signer ready for that kind of commitment? Are you sure you can really take money out of this equation?
I want to add to what @ChangeTheGame has to say about Howard. When you go to Forbes Magazine which rates the financial health of colleges and universities, Howard received a solid B rating and I was shocked by how many PWI were given C or lower financial health rates. He is correct in my opinion that the amount of debt the two choices want you to take on over 4 years is not worth it.
How much student loans at each?
Howard being $6k per year less expensive would be a plus over NYU. But you can only take out $5.5k to $7.5k per year without a cosigner, so it is possible that both are too expensive.
How much can your mom pay without borrowing? Do you have any acceptances that you can pay with grants you received and what your mom can pay out-of-pocket? If not, are there any schools within commuting distance of your home?
How much would UGA, your state flagship, cost?