No Debt Third Tier vs 150K Dream School

ElderCookies · 05-09-2008, 10:26 AM

Ok guys I would like to hear your feedback on this, I was accepted the program I really like at NYU-The Gallatin school for individualized study. This may not seem like a big deal to the CC crowd but it was for my area. Not one student in my high school has left the state for college EVER. It offers 2 APs right now, and is cutting one out next year. So NYU may not be that prestigious but it seems that way to people in my hometown. My current school is a third tier LAC that I get paid to attend. I wanted to go to State U next year, but my parents said NOPE since I got into NYU. They made the fairly good point that the opportunities won't be better there that at the LAC so no help from them if go there. My family is really pushing me to go to NYU.

Worries about going to NYU:
Cost. Thats a LOT of money to owe for undergrad.

I mean can a degree in Individualized Study really get me a good job? People say major is not important but........whatever. I might be able to transfer to the CAS though. To make that happen I would work really hard so I can get a good GPA.

Culture shock is a big concern. I have dreamed of living in NYC. I want to so bad; my concern is that I may not be ready for it at this point in my life. Its basically like going from nowhere to one of the biggest cities in the world. I can save money if I don't go and try to get into NYU Law-FAR FAR better than NYU undergrad. Ranked 5th currently right now behind Columbia and they are pretty much equal.

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 am applying to Emory since their deadline is June 1rst and I pray I get in. If I did that would solve all my problems.

What should I do ?!?!! I am so torn right now since I sent in the deposit at my fathers urging so I can see what fin aid I get.....lol when my dad makes 500k+ a year.

I really feel like going to NYU now is sort of like buying a luxury car. I would love it, and it would feel super to drive-but it is not in any sense a practical kind of thing.

MattsMomFL · 05-09-2008, 10:41 AM

I think if your family wants you to go to NYU above all others, they should pay for it and cost should not be a concern for you at all. At that salary, I have no doubt that your Dad's investments probably spit out an average quarter year's tuition daily - even in a down market.

I lived in NYC after moving there from nowhere when I was 10. It was an experience that certainly shaped who I am today. I burned out on it in my late-20's - but it is a wonderful place to be young, and the job experiences I had there opened up many doors when I moved south. Don't pass up this opportunity because of fear - you'll regret it.

Go for it and urge your Dad to pay for it!

ElderCookies · 05-09-2008, 10:56 AM

Sadly my dad just paid off another debt he has, and owes money on our house, our pool, and a few other things that are serious financial commitments. It is only recently then he achieved this level of success so he does not have investments right now. I will talk to him about it though.

keefer · 05-09-2008, 10:59 AM

NYU-Gallatin is not worth 150k, unless that's chump change for your parents, I would seriously just go to the LAC. You can always transfer after 2 years, and that'll save you 75k. 150k is a lot of money, that's a very good vacation during every summer of your college years, plus a nice car.

I wouldn't pay 150k for Harvard.

MattsMomFL · 05-09-2008, 11:06 AM

If you can make a deal with your dad that he would be responsible for paying for NYU - and he should be in this case (he has the means to downgrade/adjust his priorities/handle the loan until he's caught up in other areas) because he's so in favor of it, then I believe you should go to NYU. If he is unwilling/unable to because he has given you an unrealistic view of his earnings, then stay at the LAC. The debt for you is prohibitive.

ElderCookies · 05-09-2008, 05:50 PM

Thats what I will do I think. Thank you for your advice.

K9Leader · 05-09-2008, 07:15 PM

It sounds as though you are already a student at the LAC and are looking to transfer? It sounds as though Emory is still a possibility, but it, too, is pretty expensive. Are your parents willing to pay for Emory? And, it's not clear whether they are willing to pay for any of NYU and whether they are paying for the LAC. Clearly, they won't pay for State U.

Not knowing where you're located, it is hard to offer up any wisdom. However, there must be options between the local LAC and NYU. There must be other schools that your parents would be willing to help out with.

Full disclosure, though -- I agree with Keefer that I don't think NYU (or Harvard or any other) is worth $50K per year. OTOH, I also don't insist that the cheapest option is the only way to go either -- my son is at a very good public in another state so we pay OOS tuition while our in-state option is a very good school and would have been way less costly.

Good luck with whatever you are able to work out.

bigreddawgie · 05-09-2008, 09:21 PM

isnt emory just as expensive?

ElderCookies · 05-09-2008, 10:41 PM

Its cheaper, and I think it might be worth it since I would get a normal bachelors degree.

Erin's Dad · 05-10-2008, 05:55 AM

What is the LAC you attend?

ElderCookies · 05-10-2008, 08:17 AM

You have never heard of it I assure you.

franglish · 05-10-2008, 08:29 AM

If your parents are encouraging you to go to NYU, then they have probably assessed the financial situation and have agreed that it is something they are able to do. In this case, I think you should allow your parents to be the parents and trust them. Many times children need to take on the adult burdens because of their personal situations. In your case, though, I think you can let them worry about the money. New York is a wonderful city. I live in New York and I am in my mid-50s and I don't think I will ever burn out on it. It is a safe, beautiful, vibrant, interesting etc. etc. etc. place. NYU is a wonderful school and it sounds like your heart wants to be there. Follow your parents' advice. However, if there is something else holding you back, then you have to be honest with yourself. No matter how great an opportunity is, if you don't feel very happy and comfortable with it, then it will not be right for you.

K9Leader · 05-10-2008, 09:12 AM

ElderCookies:
I did a summer non-degree graduate program at NYU way back in 1983 and have been to New York many, many times on business and pleasure day and overnight trips. I've also spent a lot of time in Atlanta and toured Emory with my D a few weeks ago. My D is not interested in Emory due to the distance but it has great programs, a beautiful campus (once all the construction is completed), and certainly has a great reputation. If it would be less expensive for you to go there and you are able to get a more traditional degree (the NYU Individual Studies degree may be okay in NYC but will be viewed with skepticism just about everywhere else), then Emory would be my recommendation.

Good luck!

ElderCookies · 05-10-2008, 01:20 PM

if my degree would play in New York I do not care about anywhere else.

jmldouglas · 05-10-2008, 02:14 PM

eldercookies,
what I am hearing is that you really want to go to NYU. My D will be going in the fall as a freshman. It is a spectacular place. An NYU degree is an NYU degree no matter what school you are in. The opportunities will open doors for you. Be the first to go OOS. What if your dad contributed a significant portion to the tuition, so your loans will be less? Think of it as an investment in your future. Also the area around NYU is very safe,well lit, security present and there is an NYU bubble. Of coures there is no quad or lawn for frisbee, there is Washington Square. Also I think, from the other posts in CC, (I don't know first hand) Goddard dorm is a residential college and it is a very close knit group, protective and they do everything together, so if you are afraid of the adventure of being in the city, this might be the way for you to go. You can research this on the forums.