Hi all,
I am currently studying economics at NYU and am a sophomore. I attended Michigan State University my freshman year and made the transfer out here.
There are infinite pluses and minuses to each experience I have had, and my question is more regarding debt.
My parents gave me a bit of an ultimatum: they’ll pay for 2 more years at MSU or 1 more at NYU.
If I continue at NYU, I’ll have anywhere from $50k-$65k in debt upon graduation.
I did love MSU, but came to NYU for the opportunity, especially in a field like economics. Both experiences have been rewarding - the city has taught me a lot, given me some great connections and opportunities as well. MSU is close to home and has a great finance program I would transfer back into, and most importantly, I would graduate with no debt at all!
There are a lot of moving parents to this decision socially, internship-wise, finance-wise.
Can anyone advise me either way or shed some light on the situation? I want to finish off my final two years of undergrad with no regrets.
Some additional details:
- I am a fraternity man at both schools
- I play club hockey
- I had a 3.8 at MSU and a 3.33 at NYU first semester
- from northern MI, which is very close to MSU
- I think that MSU is very much the more “fun” school, but don’t want to think too hard into that!
That much debt would require your parents to cosign (usually not a good idea for either them or you). If they won’t cosign, then you have to go back to MSU.
NYU is probably much better recruited by Wall Street investment banks offering very high paying jobs. But you may want to check if such recruiting focuses on the business school, and what kind of GPA they are looking for. If you are not interested in such jobs (which can be highly stressful, according to http://www.wsj.com/articles/SB10001424052970204062704577223623824944472 ), or you are unlikely to get them as a 3.33 economics major, then that much debt is quite risky, even if your parents are willing to cosign.
I agree with ucbalumnus. You can’t take on the debt to finish at NYU unless your parents cosign the loans. Being able to graduate from MSU with no debt is quite a gift.
Agree with two posts so far. Added value of NYU degree, especially with a mid-3 GPA, is exaggerated. If you can excel at MSU, you will have similar or better opportunities.
Since (i) you may have taken some finance related courses at NYU, (ii) the exchange rate of US $ vis-a-vis Euro is favorable, and (iii) most of European UG degrees are 3 years:
you may want to investigate admission procedures to a few European UG program with the possibility of gaining admissions to their Masters Program in Finance later. University of St. Galen in Switzerland may be a good start (limited foreign enrollment).
http://www.unisg.ch/en/studium/zulassungundanmeldung/auslaendischestudienbewerber
http://rankings.ft.com/businessschoolrankings/masters-in-finance-pre-experience-2014
I’d go back to MSU and graduate debt free especially since you were happy there and like the program. Think of NYU and a great year in NYC that added to your overall college experience.