@calmom - In 1996 my wife and I moved into our dream NY apartment. Duplex, 2 terraces plus a private 20x20’ roof directly off the master bedroom, 2 full baths, a view of the Chrysler Building, brick fireplace, etc. Affordable only because it was a 4 floor walkup and the landlord liked us. After 2 years it went co-op and we had the option to buy but we couldn’t afford the 50% down payment.
But we didn’t try. We didn’t meet with lenders or family members or anybody. We knew we couldn’t afford it so we walked away from a $350,000 apartment that sold for $1.9 million 3ish years later. I’m pretty certain that no lender would have given us a 50% loan but we didn’t ask.
I don’t want my daughter to listen to a friend say she got better than expected aid somewhere (even if it’s an extra $500 to a state school) and always wonder why we didn’t even try to get into and pay for Fordham. We’ve had the money talks and she’s really quite frugal. We’ve agreed that what we have to look at isn’t the net cost of NYU of $X but the spread between $X and net cost of UNC-Chapel Hill of $Y. I know that we won’t be able to afford it but she should try and not second guess 20 years later.
Luckily we have Chapel Hill and NCState.
BTW - We lived in NYC for years and know first hand about the cost of living, plus we have NYU alum friends who have told us their financial tales of woe. Our eyes are pretty open.