<p>NYU tuition: $37,372 x 4 years = $149,488 total
Nice. But the price of college is rising, right? So let's factor in, oh I don't know, 5 percent inflation. Over the next few years. That's like another 28K. Good grief.</p>
<p>Um, so my question is, how are you paying for NYU (specifically those of you whose families make less than 60K)? Did they offer you a good financial package? What other scholarships did you apply for? Did you or your family save up anything over the years?</p>
<p>Haha, right now (I'm an hs sophomore) my college fund is basically nada. Damn recession.</p>
<p>Ha, welcome to my world. I have absolutely no idea how I'm going to pay for it. My parents, combined make a 100 K a year, which is not enough to pay for that tuition, but not enough for fafsa to cut us a break. Oh yeah, and they didn't offer me any scholarships (as far as I know), but I did apply for financial aid, and that package should get here soon, even though I'm not expecting squat. My goal is to get 20K in scholarships (and seeing as how I'm doing nothing except working for the next months ahead, I will dedicate every waking moment to applying for them), 20K in student loans, then I'll pay half of whatever's left through working, and my parents will pay the other half (so, like, 5K each).</p>
<p>argh. exactly. my parents combined make about 150K, but i also have a brother who goes to a school with oos tuition. so combined its going to be about 85K/ yr in tuition.
I haven't gotten any financial package yet,.. I'd be happy if i get like 20K.. </p>
<p>the other 30K i need, i will probably get 20K in loan and my parents will pay the rest</p>
<p>NYU is ridiculously expensive, but we all knew that before deciding to go. My advice is, if you can't afford it and need to take out serious, major loans, don't go! You can get a great education at your state school. </p>
<p>I'm a freshman, looking to transfer out. They're raising tuition again, I've heard...it's ridiculous. I'm applying to Cornell which is $20K for NYers and Binghamton (SUNY school). I don't think it's worth all the money - my family is paying out of pocket, and I'm commuting to save money. I feel really bad for all the NYU students who will be in massive debt after graduation, and honestly, if you're getting a B.A in a humanities major which on average doesn't result in a high payoff, like East Asian Cultural Studies or something like that, it's not worth it. Just my advice. Good luck to everyone with scholarships and such. Also, I reccommend you guys take up Work-Study if you qualify - you can work on campus like in the library, they generally pay a little over minimum wage, but they're so flexible with your class hours and all that.</p>
<p>cookie my friend got ed cas and supposedly he only has to pay min. with his financial aid package and he<code>s pretty much in the same shoes your in....so don</code>t worry!</p>
<p>Cookieeater... If you are from NY, you should look in to HEOP. </p>
<p>Oh, and I know that it is totally expensive to go to NYU, but just think about all the extra $$ you will be making with that degree. Also, like everyone I know that is graduating from NYU already has awesome jobs lined up. (one is even making 6 figures straight out of college!!)</p>
<p>I've always thought that a great education like NYU is like a great investment.
And especially since we'll have to live in New York City- I think this is just going to change me tremendously and let me become the most self-sufficient and independent person I can be.</p>
<p>Studies have shown that in the long-run, your choice of major makes more of a difference than your choice of college. Sure, Business majors from Stern make 6 figures right outta college (that's hardly the norm, btw) but a humanities major who graduates from NYU CAS will probably make less than an Engineering major at a State college. To be blunt, if you're not interested in a lucrative major, and prefer Creative Writing or Africana Studies or something, if money is an issue, NYU might not be the best option. Studies have shown that people with majors like that only make $20K-30K on average, and with serious loans, you might be living with mommy and daddy longer than you think. Just a suggestion. </p>
<p>Cookie Eater - You'll definitely get decent FA and qualify for Work-Study, and I reccommend you take the work-study.</p>
<p>i dont mean to be rude when youre trying to give us advice, but quite frankly, im NOT going to turn down the opportunity of going to nyu just because i cant afford it. its just not a good enough reason. i dont care if its not practical or what the latest study says about making money. sorry, i guess im just not a practical person; i go with my heart. i get what youre saying about the not-having-a-lucrative-major thing, but theres no school better for drama, in my opinion, which is my major, not to mention my passion. sure, i may be in student loan debts up to my eyeballs later, but its something im willing to live with if it means that i got to go be educated at my one and only dream school.</p>
<p>Most HS students aren't practical, I sure wasn't - it's cause their parents pay for college, they want to go to their "dream" school which they can't afford. I would never tell anyone not to follow their dream, but it's childish to not be practical, especially if you have a major which doesn't earn as much, or plan on Grad school. </p>
<p>I have friends like who LOVE college but simply can't afford it....it'll be sad watching them trying to pay off $200,000 + Interest until they're 40 cause they're earning nothing with their B.A's in Art and can't afford college for their own kids, and meanwhile, people who went to state schools are making more than them and don't have any debt. I'm looking forward to graduating debt free myself, can't say so for most of my NYU friends.</p>
<p>You know, he did say that "NYU might not be the best option." There was no reason for you to jump on his suggestion even if you did give fair warning in the beginning, lol. He is warning you about the sad truth that lies ahead after your education at NYU. If you really can't afford NYU, you have to reassess your priorities and see if it is worth it to you in the long run. By the way, I have heard of many different artists, actors, filmmakers who have graduated from NYU Tisch and have struggled to find jobs. If you plan on going into acting, be prepared for one of the toughest industries there is. A friend of a friend graduated from Tisch and ended up making movies at Sweet Sixteens and miscellaneous parties after his attempt to get into the industry failed. Don't need a degree from Tisch to do that.</p>
<p>By the way, rachael525. You still have two years until you have to start dipping into your college fund. By that time, hopefully the value of your account will have at least gain back a decent percentage of what it lost. I think getting rejected from NYU Stern may have been a good thing seeing as I can head to Rutgers' School of Business (a very good business program for a state university) without dipping into my college fund and perhaps transfer to NYU if all goes well after a year or two when it gains some of its value back. This is all assuming that the economic cycle goes as planned, heh.</p>
<p>Maybe I'm just lucky but, NYU was very generous to me. If they really want you, they'll give you what you need. :)</p>
<p>Btw I got into Tisch Film. I definitely don't think just having a degree from Tisch will guarentee you success in the future. It's really up to you, how hard you pursue your goals, and how much pain and suffering you're willing to endure before you get a steady career. Best bet is to start early, that's what I'm trying to do right now.</p>
<p>I didn't mean to "jump on his suggestion". It's just how I feel. In my opinion, paying that much is worth it. I understand that others may not be as passionate about going to NYU as I am, that NYU might not particularly be a strong school in what he or she is majoring in, and if that's the case, then by all means, consider his advice. But if you're like me, and NYU is excellent with what you want to major in and you have always dreamt of going there, then, at least in my opinion, don't just throw in the towel and give up on going altogether. There are TONS upon TONS of scholarships out there. And, yes, I'm well aware of the difficulty of a bussiness as dog eat dog as acting. I am, by no means, expecting immediate success, or am naive enough to deny the huge number of times I'm going to get rejected. Yep, it's true; actors make ****ty pay, seldom find jobs, and usually always have to have a second job to pay the bill. I accept that.</p>
<p>lol I'm not offended, I understand you're a HS student who loved what she saw in a 20 min campus tour, info session, and college catalogue, and is dreaming of acting in the big city. Every yr, thousands of kids come here dreaming of being the next Meryl Streep and then spend the next 50 yrs paying off loans, and earning no money. How many Hollywood actors have Theatre degrees? Tisch will give you experience and exposure, and is a powerhouse in its field. I completely understand an aspiring actor wanting that. Tisch students are extremely talented. I am not telling anyone to "throw in the towel", but sadly, most kids don't consider practicality. I personally don't think going into extreme debt for a degree which usually results in poverty is practical, but that's just me. BTW, what bimachris said is so true...if you really need money, NYU will give you good FA. </p>
<p>NYU is actually very strong in my major (Econ), I'm just smart enough to realize that forking over my parents savings isn't worth it, cause I'll need money to go to Law school. And after I graduate, not only will I have minimal loans, I'll actually have a salary :)</p>
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[quote]
My goal is to get 20K in scholarships (and seeing as how I'm doing nothing except working for the next months ahead, I will dedicate every waking moment to applying for them), 20K in student loans,
[/quote]
</p>
<p>Just make sure you completely understand the terms of any loans and what the repayments will be (recently read a newspaper article about a student who graduated with $150,000 in loans and was in terrible financial trouble because he could not make the repayments. He was shocked because he had somehow imagined his monthly payments would be around $600 which is, of course, ridiculous for such a large debt). There is a loan calculator at FinAid</a> | Calculators | Loan Calculator</p>
<p>you enter your loan amount and interest rate and it will tell you the monthly repayments.</p>
<p>For instance $20,000 for 4 years would be $80,000. The monthly repayment for that would be @ $1,000 a month every month for 10 years. This is assuming you or your parents are paying the interest every year during college (Year 1 $1600, year 2 $3200, year 3 $4800, year 4 $6400). If you do not pay the interest as you go along then the interest is capitalized (added to the loan amount and interest charged on the interest). The debt would grow to @ $97,000 at the end of 4 years and the monthly repayment would be @$1200 a month for 10 years.</p>
<p>swimcatsmom is right. Every prospective student, in addition to finding the right college for what they want to study, should most definitely be considering the cost. As the mom of a Tisch grad, I can tell you that NYU is extremely expensive and the costs go up every year. If my daughter had been in the position to graduate with a lot of debt, we definitely would have discouraged her attending her dream school. :) It's nice to go with your heart and to have passion for your dream school but, in the end, it could put you in a financial hole for years to come. I realize that's hard to imagine as a 17 or 18 year old but it's still something you should all force yourselves to consider. </p>
<p>The average financial aid package at NYU is ~$20,000, with the cost of attendance in the $50,000 - 55,000/year range. Although a small percentage of NYU students get decent scholarship $$, the bulk of students are going to have large amounts of their aid in loans which will have to be repaid. Financial aid guides generally recommend that you be able to devote 10% of your gross salary to monthly student loan payments. I read recently about an NYU grad who finished with a $120,000 debt. With a 5% rate and a ten year term, he was looking at paying back a total of close to $152,000 and with a monthly payment of ~$1500. To extend the term and lower the monthly amount, then that $152,000 figures grows even more. </p>
<p>Every student and family obviously needs to make the best decision for themselves, but it's an issue that all should be studying closely. And also being mindful that student loans are not dischargeable by declaring personal bankruptcy. You will have the burden until they're paid off in full.</p>