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05-10-2008, 03:14 PM
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#16 | | Senior Member
Join Date: Oct 2007
Threads: 103
Posts: 1,262
| Quote: |
I hate the LAC. It has a religious affiliation, and like many people who consider NYU religion just is not my thing. There are no student clubs other than sporting teams, and it's in the middle of nowhere.
| I don't think you will like it at this LAC. | 
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05-10-2008, 04:49 PM
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#17 | | Junior Member
Join Date: Jan 2008 Gender: Male
Threads: 6
Posts: 145
| The cost of NYU is very steep, and it sounds like you're not too enthusiastic about the LAC. Is there any way you could convince your parents to let you go to your state university? Is that still an option? | |
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05-10-2008, 05:06 PM
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#18 | | New Member
Join Date: Mar 2008
Threads: 4
Posts: 17
| i thought emory deadline was january 15th | |
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05-10-2008, 05:18 PM
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#19 | | Junior Member
Join Date: Feb 2008
Threads: 32
Posts: 224
| I am a transfer student. The deadline for transfers in June 1rst at Emory. I am already a college student at the LAC, however, I think it the most spirit crushing place in the world. | |
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05-10-2008, 05:33 PM
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#20 | | Member
Join Date: Dec 2006
Threads: 12
Posts: 946
| No, NYU is not worth $150,000, sorry if I am offending students/parents at NYU. I am paying full fare my daughter's education. There is no way I would put that kind of debt on her. If your parents want the prestige of telling their friends that their kid is at NYU, get them to put up the money. Before you start earning a dime, you would be at least $300-400,000 in debt (law school included). | |
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05-10-2008, 05:36 PM
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#21 | | Member
Join Date: Dec 2006
Threads: 12
Posts: 946
| It would be irresponsible of your parents to let it happen. They are the adults. I can't believe they are telling you to go to NYU!!! | |
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05-11-2008, 05:24 PM
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#22 | | Junior Member
Join Date: Feb 2008
Threads: 32
Posts: 224
| Yeah oldfort thats why I am pretty much know I am not going to go unless there is a major change. I really just want to go to the State U. I am trying to convince them to let me go there right now,however, such a thing is much easier said than done. | |
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05-11-2008, 05:59 PM
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#23 | | Member
Join Date: Dec 2006
Threads: 12
Posts: 946
| ElderCookies - see if you could get another adult to talk to them. What's their objection with your state school? With large public schools, it is what you make of it. Another thing to consider is that NYC is very expensive. NYU doesn't have a campus. If you are used to a small, friendly environment, it may not be easy for you to adjust. I am just not convinced that you would get that much better of education at NYU to worth all of that.
I know it's not always easy to get parents to change their mind, but this is your life now. It is not your parents that would get stuck with 150,000 debt. Start taking an important step of becoming an adult and start taking control of your life. | |
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05-11-2008, 06:23 PM
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#24 | | Member
Join Date: Feb 2007
Threads: 19
Posts: 391
| I must be missing something. You are on a free ride at the LAC and hate it. You like your instate U but your parents do not and will not pay for it. You and your parents like NYU but your parents cannot afford it. Is that all correct? If so, where are you supposed to get the money for NYU? No one is going to loan you $150,000 for undergrad. And you still have law school to pay for. Is it possible, that by not being able or willing to pay for either school, your parents are trying to force you to stay at the LAC? | |
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05-11-2008, 06:31 PM
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#25 | | Member
Join Date: Dec 2006
Threads: 12
Posts: 946
| cmbmom - OP has the option of going to his in state university, but his parents would like him to go to NYU for prestige reason. His father is making 500,000, but does not think his son's education is an important financial obligation. His father would like him to pay for NYU through student loan. | |
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05-11-2008, 06:32 PM
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#26 | | Senior Member
Join Date: Aug 2004 Location: Olympia, WA
Threads: 146
Posts: 7,823
| It's really a non-issue. No one is going to loan the OP $150k. Based on what?
But just for the fun of the exercise, go to FinAid | Calculators | Loan Calculator
$150,000 loan, with a 1% origination fee, at an 8.2% interest rate (fat chance!), over 10 years would require a payment of $1,854.35 every month for 10 years. At 10% of income, it would require (in the first 10 years after graduation), an average income of $222,522.
Yeah, right! | |
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05-11-2008, 06:36 PM
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#27 | | Junior Member
Join Date: Feb 2008
Threads: 32
Posts: 224
| I would not borrow it anyway. Though I can get a loan with my father as a co signer. | |
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05-11-2008, 06:40 PM
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#28 | | Senior Member
Join Date: Aug 2004 Location: Olympia, WA
Threads: 146
Posts: 7,823
| Then the interest is likely to be substantially higher, and the monthly repayments steeper. He will be the one on the hook for it, for there is no way any loan agency short of Cousin Vinnie is going to loan a student $150k for two years of college, or assume that s/he will be paying it back.
As you said, your father just recently achieved his level of success, and I suspect he doesn't really have much idea of what he is asking for.
(All the co-signed "student" loans I know of max out at $40k.) | |
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05-11-2008, 06:58 PM
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#29 | | Member
Join Date: Dec 2006
Threads: 12
Posts: 946
| mini- I think you could borrow up to the total cost of school tuition, room & board, at least on non-subsidized loan. | |
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05-11-2008, 07:52 PM
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#30 | | Senior Member
Join Date: Aug 2004 Location: Olympia, WA
Threads: 146
Posts: 7,823
| But that would leave the OP, by his estimation, almost $50k short. (And $100k at 10-12%, with a 3% origination fee, well...the picture is clear.) | |
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