Hi,
I am currently a freshman at NYU Stern School of Business. I am studying actuarial science.
My question is whether or not transferring to The University of Miami would be a good idea. I would major in mathematics there with a concentration in actuarial science. My reason for considering a transfer is because NYU is very expensive and I’ve quickly realized from other actuarial students here and recent actuary graduates that the school an actuary goes to does not matter much - what matters is passing the exams. So, I’m thinking, why not go to a school offering me a better deal.
Is this a good idea…?
Thank you.
Are you sure you would get a better deal from Miami as a transfer student?
if you are set on being an actuary - then transfer
NYU has a good actuarial program but if the school doesn’t matter for the profession then save yourself the money and transfer
If there is even an inch of you that wants to do front-office finance - then you would be better served staying
How do you know if UMiami would be cheaper? Transfers often don’t get great aid.
Are you taking out loans for NYU? how much per year?
If UMiami would also be expensive, then why not go to your state school? What is your home state?
Good question. Actuarial Science is actually a minor at UMiami, UCF, UF. Actuarial Science is really a Math Major at most universities, and involve nothing special, but a series (handful) of advance math/statistics courses. One can get a good Actuarial Science preparation at any of the FL 4-year universities. FSU might offer the best Actuarial Science program in the State.
The OP is from Florida. I guess the OP is just a casualty of the high cost of NYU, since it was clear NYU was known to be a very expensive institution going in. UMiami Tuition is about $43K/yr, while NYU is about $47K. Room and Board cost would be less, especially if the OP commute or live off campus. Very difficult to get off-campus housing within walking distance of the school. Many students have to drive 15+ minutes to get to campus.
OP, how much does NYU cost and how much in loans do you have?
An issue is that, as a transfer student, you no longer have access to the “deal” offered by Miami when you were a freshman. However you could attend FSU which has an excellent actuarial science program. You can also see if Baruch wouldn’t offer you a better deal - they’re known to be heavily recruited and you’d get to stay in NYC. However, it’s a 98% commuter campus…
The Tuition at NYU Stern is $48,462/yr and Baruch it is $17,920/yr. Assuming no aid and similar Room and Board cost, Baruch would be ~$30.5K per year cheaper than NYU ($122K total over 4-years).
A family member graduated from Baruch Actuarial Science program a few years ago with zero debt (Commute to BC) and received multiple job offers at the time of graduation. She has passed all her actuarial science exams to date. Baruch is the largest undergraduate Business Program in the US and has a huge alumni base in NYC.
@qwertyzxc I’m 99% sure I do not want to pursue a finance-concentrated career. Definitely aiming to be an actuary. Also, I want to get my pre-vet reqs in order to always have the option to go to veterinary school one day. I think being at UM would be easier to do that as NYU isn’t very helpful when trying to coordinate a pre-health track.
I’m currently a freshman at Stony Brook University. I want to become an actuary as well so I’m majoring in Applied Mathematics and Statistics. It’s ranked in the top 10 applied math programs, but I was thinking about transferring to NYU to do business with a concentration in actuarial science because I know their business school is really good. How is the program there? I can see you’re thinking about transferring out, is the program worth the price? I was accepted to NYU when I applied as a senior in high school but couldn’t afford their tuition to attend for all four years. Is it worth transferring, or should I just stay here?
How would you afford it for two years?
If you get into Stern, yes it’s better than Stony Brook, but only if you can afford to go.
In addition, just because you got in as a freshman applicant, don’t assume you’ll get in as a transfer - it’s much harder as a transfer. In addition, there’s no housing for transfers.