Parents of NYU undergrads... I would like your two cents. This is not a chance thread

<p>I'm applying to NYU Steinhardt (ED II) for Public Health this year, and I'm a bit nervous. I'm curious as to what you parents have taken away from your students experiences on a few different things.</p>

<p>1) How are they coping with the campus (or lack of one) environment since it's a bit different than other schools?</p>

<p>2) Did NYU give you any kind of financial aid package? If so, how much did the school offer? Please include very unique personal circumstances that may have lead to getting aid at a school that is pretty notorious for being hard on that. </p>

<p>3) What was your admitted students high school profile like? </p>

<p>4) In their opinion, has their experience been positive at college so far? Are they happy with their choice?</p>

<p>I'm most concerned with financial aid. I'm very unclear on how the entire student body isn't upper middle class and white with the reputation NYU has for aid considering it's nearly $60k/yr. </p>

<p>My parents have a really good savings for me ($120k) and I've decided I would go up to $15k in loans per year out of my own pocket if I could get my hands on a subsidized one. But I don't know where the other $15k is going to come from. I'm applying for a LOT of scholarships outside of NYU to hopefully come up with a few thousand dollars but I can't rely on that. </p>

<p>My parents also make a very good living ($200k/year) but can't contribute more than what they have saved (I'm not complaining) because they are much older. I'm white and aren't an exceptional student, nor do I fit the definition of a need based recipient. </p>

<p>I also know that most people don't have parents who have saved as well as mine have. So am I right in assuming that most kids at NYU are busting their butts taking out $20-40k in loans every year? </p>

<p>HOW DO YOU MAKE IT WORK?!</p>

<p>In all honesty, you need to fall in love with another college. </p>

<p>There is no such thing as a subsidized $15K per year loan. In fact, you won’t qualify for the maximum one, $5500 for a freshman, given your parent’s income. </p>

<p>It’s unlikely you’ll get anything from NYU given income and that you’re not a top student. So that will leave you over $30,000 per year to pay with prices going up every year. And as there’s not big money in public health, you really don’t want to take on big debt.</p>

<p>There are many great schools! Really.</p>

<p>Many parents would not co-sign for loans for a student to the tune of $20,000 or more per year. Students cannot in this economy generally “get” $15,000 or more per year in loans without a co-signer. There are two components to accepting admission to college, the first, of course is an acceptance…the second is cost. You need both to be in place before you “accept” a college admission offer. You might have your heart set on NYU, but until you see the costs in writing and know your family can manage the costs you need to keep options open.</p>

<p>Is that the maximum that NYU will give, or your average bank? </p>

<p>I hope to go into law school after my b.s. and lobby someday. I know that it’s not a good idea to take on lots of debt for any reason… which is why I have capped myself at $60k before interest. </p>

<p>In any situation, I’ll have to talk to a college financing expert once I get all of my financial aid packages and see how much I’ll really be paying once I have all the numbers in front of me. </p>

<p>But I don’t even have a package yet. I know there have to be students like me at NYU who make it work! Just wanting some first hand perspectives. </p>

<p>It’s hard to find a college with a public health undergraduate program D:</p>

<p>I’m also applying to Boston University, University of Vermont (already qualify for $7,500 merit aid), Syracuse University, U Wash-Seattle, and CU Boulder, which is my state school. I’m open to suggestions though.</p>

<p>NYU is notoriously stingy with financial aide – that is why you need to fall in love with other schools. Most parents I know whose kids are at NYU are essentially full pay.</p>

<p>Law school is expensive and there is actually very little in the way of financial aide for that. If you think that is your goal, you need to find a way to go to undergrad cheap so you can limit debt.</p>

<p>Good point. And I know they are… I’ll just have to apply and wait and see what makes the most sense for me I suppose.</p>

<p>

</p>

<p>$60,000 is significantly higher than the average amount of student loan debt, and if you want to go to expensive law school, you do not want to drag that along through law school.</p>

<p>Some have suggested that students should not take on more undergraduate debt than the subsidized loan limit (around $23,000 total) or half the typical yearly pay for someone in your major after graduation (which is probably no more than $40,000 per year for public health, so giving a loan limit of $20,000 or less). You may want to be even more conservative if you intend to go to law school.</p>

<p>Somewhere once upon a time I read that the average was $40k. </p>

<p>But these are all good points and important things to think about. I’ll have to be more pragmatic when I get all my admissions decisions and aid packages. </p>

<p>Does anyone have any suggestions of schools on the east or west coast, or even canada that are affordable or give good financial aid?</p>

<p>The point is you, alone, will only be able to get the federal direct loans which amount to approximately $23,000 at this point in time for all four years. So talking about $40,000 is moot unless your parents or some other credit worthy adult is going to co-sign. Parents can take loans called PLUS loans but those are in the name of the parent alone.</p>

<p>The white comment was kind of a sarcastic jab towards the role affirmative action plays in financial aid, and how it tends to benefit those who don’t necessarily need it compared to others since it has nothing to do with one’s income. Not meant to be racist, but it’s just a fact. I’m a huge proponent of affirmative action, by the way. But compared to other minority applicants with my same exact stats and qualifications, family situation, etc, I’ll be last on the list to get fin. aid if race was the only factor.</p>

<p>Thanks, momofthreeboys </p>

<p>My parents will decide whether or not to cosign or take out their own loans when the time comes and we talk about future financial implications with financial counselors. That’s a few months away though. The issue is mainly, they’re 56 and 54 (I’m the oldest) and having so much debt on their shoulders at that age isn’t too realistic.</p>

<p>^^^ please show me a source for your belief that affirmative action plays a role in financial aid. Frankly, I don’t buy it. </p>

<p>Also, 56 and 54 isn’t old for having college-age children. There are many people on this forum considerably older than that, with children in college, and still at home.</p>

<p>[FinAid</a> | FinAid for Educators and FAAs | Affirmative Action](<a href=“Your Guide for College Financial Aid - Finaid”>Your Guide for College Financial Aid - Finaid)</p>

<p>It’s not ancient but they are very financially conscious and are concerned about being so close to retirement and having so much debt in their name in case something happens and I am not able to pay off my loans out of college.</p>

<p>^I’m not seeing the part in your link that supports the idea that “affirmative action plays in financial aid, and how it tends to benefit those who don’t necessarily need it compared to others”</p>

<p>I would Imagine most need based aid does NOT go to underrepresented minorities, based on numbers alone. Perhaps you mean scholarships?</p>

<p>Good luck to you!</p>

<p>Have you checked your in-state public universities to see if they are affordable and if they offer public health or a similar major?</p>

<p>Yes, some NYU students go deeply into debt somehow. But they run the risk of become examples in a newspaper or magazine story like this:</p>

<p>[Another</a> Debt Crisis Is Brewing, This One in Student Loans - NYTimes.com](<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)</p>

<p>The point of affirmative action is to make up for discrimination against underrepresented minority groups. A lot of that comes in the form of making education more accessible for those groups. African Americans and Latinos tend to be poorer and have less access to quality secondary and higher education. So one idea is that by easing the financial burden on minorities, their access to the same opportunities will even out. Affirmative action should be color blind, since your socio economic status plays a much more important role in your educational background.</p>

<p>The students that it intends to benefit (poor minorities) don’t actually reap those benefits because their secondary education opportunities were sub par, and college was not exactly in their picture. Therefore, I would argue (and this is just what I have observed from how students with minority status in my upper middle class community have fared) that the majority of minority students and beneficiaries of AA as far as being able to afford top colleges go, come from good high schools in upper middle class areas. </p>

<p>Does that explain my position? AA benefits a lot of students, who grow up alongside white people who are assumed to be more privileged (and are) in general. It’s frustrating to see my hispanic classmates, who had the same educational opportunities as me, get scholarships and merit aid on standards lower than the ones I would have to achieve simply because of their race. That’s why AA should be based on income. It ends up giving more minorities with educational opportunities equal to those of upper middle class white students preferential treatment because it’s only based on color. </p>

<p>I think you saying that “most need based aid does NOT go to underrepresented minorities, based on numbers alone” kind of proves my point :). You are right, it does not go to underrepresented minorities. It goes to people who are by standard definition, a minority, but had the same upbringing as the “privileged” races.</p>

<p>The public university that I would choose (CU Boulder) does not have a public health major. They have a good political science program and international relations program, which would be my second choice probably in terms of programs. </p>

<p>If I get into U Wash I may see if I can get in state tuition… they have something very close to public health (but with an environmental focus) and they are public! It’s a good possibility for me I think.</p>

<p>Both Colorado and Washington are in the [url=&lt;a href=“http://wue.wiche.edu/search_results.jsp?searchType=all]Western”&gt;http://wue.wiche.edu/search_results.jsp?searchType=all]Western</a> University Exchange<a href=“1.5%20times%20in-state%20tuition%20for%20residents%20of%20the%20exchange%20states”>/url</a>, but University of Washington is not an available school.</p>

<p>I’m aware of this :(. It’s pretty frustrating. Maybe if they accept me and I have a hard time coming up with the funds I can convince them since they seem to be good about financial aid in general, at least that’s what I took away from their website, and having only 12% oos undergrads, they might be eager for a colorado student.</p>