<p>As of now, I’m leaning towards turning down Stern’s ED offer, since I dont want my parents to pay $65k a year and $250k for an UNDERGRADUATE degree is just ridiculous.</p>
<p>I’m planning to send in apps for my instate schools like USC and pepperdine. ive already sent in apps for the UCs of course.</p>
<p>This being said, if I get into UCLA and assuming I pay $30k a year, will this be a far better option than going to Stern and paying $65k a year? </p>
<p>If the school is truly ED, you signed a contract that you will WITHDRAW your other apps if you get in ED. Is that not the case for Stern? There are serious repercussions for you and your HS if you choose to violate the ED agreement. Cost is an important thing to consider BEFORE you apply and before you choose to apply ED. Please speak with your HS’s college counselor about your current options since you now seem to be having second thoughts about your ED acceptance.</p>
<p><a href=“Advice On Applying to Top U.S. Colleges Via Early Decision or Early Action”>http://www.forbes.com/sites/jasonma/2012/08/06/tips-on-applying-to-top-u-s-colleges-via-early-decision-or-early-action/</a></p>
<p>A student is always allowed to withdraw from ED if financial aid is insufficient. </p>
<p>It’s NYU. I doubt that they put up much of a fight over the contract, given how generally pitiful their financial aid offers are.</p>
<p>The reasons that colleges offer ED is that they want to lock in paying students. NYU doesn’t want a kid whose parents are unwilling to pay. </p>
<p>Op,</p>
<p>Keep in mind that student loan debt is not dischargeable through bankruptcy. Since ** you ** cannot sign for the debt, then your parents are on the hook for this money. This will ultimately change their life and lifestyle as they will be paying this debt vs putting money toward other things like their retirement, home repairs and maybe even medical care that is not covered by their insurance.</p>
<p>Walk away, walk away , walk away. As a person who holds 2 degrees from NYU, unless it was for the med school (this debt could almost pay for 3 years at the law school), I would never sign for or advise my kid to take this debt.</p>
<p>Pepperdine is private with a COA of over $64k.</p>
<p>@HIMom for NYU, you are required to withdraw only when you have accepted to commit to NYU (hence you can pay for it). The only way you’ll be released from the ED agreement is if the financial aid was not enough, and so you decline the admissions offer.</p>
<p>Why in the world is this a question now? You applied ED knowing you would have to pay $65K/year. Did facts change between then and now?</p>
<p>^^^
I think the student was misled by the “average aid pkg” that NYU posts.</p>
<p>I think the scholarship deadline for USC has passed, but it sounds like you might qualify for need-based aid if you get in.</p>
<p>Your UC’s will likely be your affordable choices.</p>
<p>If you look at most ratings of universities, you will find NYU in the top 30 or so. It is a great school. I am not sure how Stern compares with Haas or with UCLA. $250k is a lot of money.</p>
<p>If you look in those same ratings, halfway to the top (say the top 15 or so), you will see UCLA, and above that Berkeley. $120K is less than half of $250k.</p>
<p>Ratings only tell part of the story- even multiple ratings that all agree with each other. However, roughly speaking, it would appear that UCLA is something like twice are “good” as NYU and costs half as much. What’s not to love?</p>
<p>Why not go to Haas instead of Stern?</p>
<p>How well do Haas place on Wall Street? I would imagine UCLA or Berkeley Haas would place better on the West Coast than in Wall Street…</p>
<p>Student loans, parent loans, cost are all important considerations for most families when choosing colleges. But not always, and often not the most important consideration. If your parents are in very good financial condition, are prepared to pay for your college, and are comfortable including loans as part of that strategy, it could well be that itis a family priority to get school choice. Some parents feel it’s worth every penny for their kids to get to go to the college of choice or the most “prestigious” college that accepts the kid. If finances are able to handle it, then fine. My close friend is fully ready to pay the quarter million+ that it is likely to cost for her son to go to the college of choice, and cost is not going to be in the equation when it come to his choices. They have already decided to make cost a non issue, and they are financially in good enough shape to have this luxury. Plus they want to do this. Most people do not have this luxury and privilege.</p>
<p>I do not believe that Stern is worth that much more than UCLA, especially if the family is going to be hurting borrowing to make this happen. PLUS parent loans are not inexpensive. I’m not sure that the differential is going to pay off. That’s a lot of money just gone and to have to borrow at that interest is really a hardship for most people. </p>
<p>Personally, I 'd love to be able to pay for any schools any of my kids want. But we can’t do so without really hurting in other ways financially. We took out loans for our oldest that we have just finished paying, and the pain of those 15 years was agonizing. That’s with immediate repayment on them as we took them out so that we paid each loan off about 10 years after we took it. But 4 years meant about 15 years, and it was like increasing car payments each year, without the benefit of a car. Like driving a Mercedes off the cliff each year and having to start over each year, not one, two, five or 10 years but 15. Many take them out for 25 years–look at what the interest at 7-8% does in that time period. Don’t need a degree from Stern to look at the final cost and make that business decision.</p>