<p>$36900 in loans for one year * 4 = $147,600</p>
<p>Emerson:</p>
<ul>
<li>Average known school</li>
<li>Great Communications Program</li>
</ul>
<p>Financial Aid:</p>
<p>Cost of Emerson College ( 1 Year)</p>
<p>$36,764</p>
<p>Pell Grant : 900
SCOG Grant: 400
State Grant: 400
Stafford Loan: 2625
Mass No Interest Loan: 2800
Federal Work Study : 2000
Emerson Grant: 17100</p>
<p>Total: $26,225</p>
<p>Loans:</p>
<p>Stafford + No Interest = $5425 + 15963 = $21338 in Loans x 4 years =</p>
<p>$85,552 in debt.</p>
<p>So Compare $85,552 in debt vs 147,600 in debt.</p>
<p>Remmeber that NYU has more notoriety as well.</p>
<p>I want to be a screenwriter. Which should I choose.?</p>
<p>Both sound terrible. You should not graduate with debt more than $22,000. Even that is high! Attend a state school or a cc, and transfer to a 4 year school, or find a cheaper solution.</p>
<p>Wouldn’t avise either of my kids to take on so much debt either–heck the debt you’re mentioning is really high & will take a LONG time to repay. Debt in whatever form will have to be repaid WITH interest. If the loans are unsubsidized, interest begins when you take out the loans, so the amount you borrow will be much larger by the time you graduate. Also, schools tend to increase in cost, so you would have to factor that in to your costs as well.
I would strongly encourage you to follow the suggestions by anxiousmom if you don’t want a future saddled with a huge load of debt.</p>
<p>Both debt levels sound high, particularly for a potential screenwriter. Those payments will be brutal in the early years of low income, and of course most screenwriters don’t end up making big bucks even in the long run.</p>
<p>Do you have a more cost-effective alternative? Since you are showing a Pell Grant, I’d guess you could get need-based aid at some schools?</p>
<p>I would NOT automatically assume that NYU will net higher pay after graduation - this is far more career/occupation dependent.</p>
<p>I got into NYU as well and had to turn it down for a state school. I’m a Stern scholar with even more scholarship money than you, which took my annual cost down to about 25,000. But I just don’t see it as worth it. You should look at schools with better financial aid.</p>
<p>If you’re getting a Pell grant, your family has to be very low income. To borrow such large amounts if that’s the case is just obscene. Anyone you’re writing scripts for won’t care where you went. Don’t get yourself into this huge debt position.</p>
<p>I disagree with the fact that you said you will make more money out of college coming from NYU. It is definitely a prestigious program, but the name of a school one attends does not translate directly into income or income potential. This is why there are CEOs that have attended Penn State that make more than Harvard MBAs</p>
<p>well the thing is, i wont be puttign everything into screenwriting. Im more into being behind the scenes on a tv set or movie set or even producing. Those are good money that can potentially help me in my debt.</p>
<p>Any way you look at it, the debts you’re talking about are HUGE. Please reconsider – if you really want to pursue this, at least have two years at your state community college or other low cost state school & transfer to save so you only have two years of huge debt instead of four.
Screenwriting & even getting into the movie-making business is not all that easy. There is really no guarantee of employment but the debts will be there & continue growing with interest until the are fully paid off.</p>
<p>Uh, what alternatives are you considering? WHICH major in business are you thinking of? How sure are you that you’ll pursue it? What salaries are folks coming out of that school getting? Are you considering grad/pro school?<br>
I would not allow my kids to incur debt anywhere near that amount because it would take a LONG time to repay & impose all kinds of limitations on their future. Also, many college students take longer than 4 years to graduate, so the cost may well be higher than you’re estimating & transportation & other costs are often higher. If the loans are not subsidized, interest begins on the date you get the loan, which means the total amount borrowed will keep increasing unless you’re able to pay the interest while you’re in school.
I’d definitely encourage you & your family to explore your other options & NOT incur more than say $10,000-20,000 debt for your entire undergraduate education. This can be done if you attend community college & then transfer to an in-state school in most areas of the country.</p>
<p>Based on the actual package my family received:</p>
<p>10803 is what my family has to contribute for the whole year at Emerson.</p>
<p>If you add on the Federal Subsidized Stafford Loan of 2,625 + Massachusetts No Interest Loan of 2800, it comes to</p>
<p>16,228. In comparison to NYU, i dont think that is much. I find it feasible to try to come up with 10,000 somehow and particularly 5000 per semester.</p>
<p>I think its doable, jsut will take some work. I will be working in the summer and probably make 3000, so probably a 2000 loan for the first semester.</p>
<p>I think this debt isnt that bad.</p>
<p>If i say i wont pay anything back for 4 years</p>
<p>16228 * 4 = 64912. Much better amount of debt really.</p>
<p>heh wel im not goin to wharton LOL if i was man that would be no brainer!!! but in MY situation, its either ucla arts and science (probaly major in history, not economics eh dont want to) or Indiana kelley school of business and either school i go to, ima have debt ( yup suxs to be middle class) and the total amount is only a 10,000 difference so id rather take mi chances and go to the school i want to go to i guess if it was between a lower school with gud financial and and a pretty gud school that makes you take out 13,000 or more in loans, yea DEFINITELY id go with the lower school route and save that money for graduate school but again, in my case, it dont mattter… donkeyz12212 you and i are prety much in the same situation so gud luk!!! sory im in same situation as you so i cant really g ive you advice lol. </p>
<p>o ima major in finance/operations management double or just one of the two, depending on if i can handle it and yes i am SURE that’s what im going to major in and i tink average salary was somewhere in 40,000-50,000 since it depends on major and what company you work for etc. for finance it was like 47,000 and operations was 42,000.</p>
<p>Gotta say, that’s a mountain of debt to start your life off with. If you went to community college, like my CA niece is doing, you can shave off two years of tuition, since CA CC is practically free & end up with much more managable debt with the same college degree & a better idea of what you really want to study. I know many very bright kids who are going this route to save their money & still get the education they want.
$42=47,000 doesn’t really go very far after you pay taxes, housing, food, transportation, clothes, cell phone, insurance, and entertainment. In another thread, it was estimated your after tax income would be about $25,000. If you pay 10% of that income for loan, & interest, that would be $2500/year & it’d take a very LONG time to pay off the loan. If you were more aggressive & paid 15% of your income for the loan, it would be $3550 & still take a very long time to pay off with all the interest. Also, you’re assuming you’ll graduate in only 4 years, which fewer than 50% of students do at most colleges.</p>
<p>yea but my parents are gona help me out in payin my debt and ive worked hard in school, dont want to put that wasted effort into cc, although for some people cc is a gud or necessary choice, i tink ima stick wit IU i can see where you’re goin with the taxes,housing,food,transportation stuff and im definitely gona have to consider that and try to plan ahead to be able to survive thanks though</p>
i guess if it was between a lower school with gud financial and and a pretty gud school that makes you take out 13,000 or more in loans, yea DEFINITELY id go with the lower school route and save that money for graduate school but again, in my case, it dont mattter… donkeyz12212 you and i are prety much in the same situation so gud luk!!! sory im in same situation as you so i cant really g ive you advice lol. </p>