<p>My son was fortunate to be accepted to all of the schools he applied to. He has narrowed down his list to these:</p>
<p>He does not know what he wants to major in...perhaps psych, but very likely to change.</p>
<p>NYU---liberal studies program---his TOP choice and the school where I can really see him fitting in. He was only given $10,000 scholarship, $3,000 work study and the rest in loans (both him and us). We can afford to pay MAYBE 25-30,000 per year and the rest he would have to take in loans of 20-25,000 per year.</p>
<p>Fordham---Rose Hill--$8,000. scholarship, $9,500 grant, student loans---leaving about $32,000 for us to pay (after the loans for my son)</p>
<p>Univ. of Delaware---- $12,000 scholarship and student loans----leaves about $17,000 for us to pay</p>
<p>My older son went to UDEL and LOVED it, but this son is totally different.</p>
<p>Have you tried appealing for more aid from Fordham? Sometimes that can be worthwhile.</p>
<p>As for NYU, I would never recommend that a student go $80,000-100,000 in debt for undergrad. Really never. It’s not worth it at all, especially if he’s thinking about graduate school. That amount of debt could really restrict his post-graduate options.</p>
<p>I would take a step back, and look at things objectively.</p>
<p>Pretend that NYU isn’t even an option, that he has a choice between UDel and Fordham. If you take money out of the equation, what are the top 5 things he likes about each? 5 things he dislikes? </p>
<p>Are the study abroad options comparable? Travel? Are there quirky classes? Does being in a city really matter to him? Etc…</p>
<p>After he’s thought about that, and made his list, bring NYU back into the equation. What are the 5 things he likes, AND THE FIVE HE DISLIKES. If you guys are pushing for NYU too much, there will never be a chance to give the others a fair chance.</p>
<p>Now, put money back into the equation. Is going $80,000 in debt okay if he likes things about the other schools, and will be happy there? Probably not. But maybe through making these lists, he’ll discover that NYU really is the school for him, debt or not.</p>
<p>Speaking as someone who spent 14 years paying back “only” $40k for my H’s law school, I think that NYU isn’t really an option bc the truth is you simply can’t afford it and neither can he. Letting him take on that kind of debt for an undergraduate education, assuming he can get loans that high to begin with, is trading a 4 year college experience for many many years of debt. For undergrad? Not worth it in the end. There are plenty of stories of NYU grads up to their eyeballs in debt and regretting it. </p>
<p>As for Fordham, well even that looks like it will be a stretch for you and will result in loans for him. Perhaps they will give you more, perhaps not.</p>
<p>If your S attends UDEL which is affordable for you, is there any reason he would have to take out the student loans? I mean you said you could afford up to $30k for NYU but UDEL would cost you only $17k. </p>
<p>I say send him to UDEL without having him take the student loans. He’ll graduate debt free and THEN he can move to NYC. If he graduates from NYU or Fordham he probably won’t be able to stay in the city bc of the debt…he’ll be coming home to live with mom and dad for longer than either one of you will be happy about. </p>
<p>It’s tough but plenty of kids turn down “dream schools” bc they can’t afford them and go on to do very well at the schools they can afford. It’s up to your S to make the most of every opportunity at UDEL and he just might find himself very happy with his choice in the end. Good luck! :)</p>