It's still Duke.melmelcoolj wrote:Ah, let me bring this thread back to life. How about Duke with 60K and NYU at sticker? Which one would you choose?
Duke with 90k v. NYU at sticker - Help! Forum
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Re: Duke with 90k v. NYU at sticker - Help!
- melmelcoolj
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Re: Duke with 90k v. NYU at sticker - Help!
Let's add in the equation that my parents are paying, so I'm not taking out any loans for myself. That said, I don't want to squander my parents' money for we're not the Trumps. But they are well-off, and either decision would not make a huge difference to their life. I prefer NYU a little more for personal reasons. But I feel bad for squandering their money, for I only want BigLaw, and neither the LRAP program nor the good PI opportunities at NYU matter to me.BrainsyK wrote:It's still Duke.melmelcoolj wrote:Ah, let me bring this thread back to life. How about Duke with 60K and NYU at sticker? Which one would you choose?
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Re: Duke with 90k v. NYU at sticker - Help!
Overall COA will also be 10k less at Duke so over the course of 3 years, you save 70k not just 60k. That could be a down payment on a house or any number of things. If your parents are only willing to pay for education, I guess it depends how horned up you are at the idea of working at a V10--probably still not worth it.melmelcoolj wrote:Let's add in the equation that my parents are paying, so I'm not taking out any loans for myself. That said, I don't want to squander my parents' money for we're not the Trumps. But they are well-off, and either decision would not make a huge difference to their life. I prefer NYU a little more for personal reasons. But I feel bad for squandering their money, for I only want BigLaw, and neither the LRAP program nor the good PI opportunities at NYU matter to me.
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Re: Duke with 90k v. NYU at sticker - Help!
True. And Duke is actually giving me more than 60K. Ah, I probably should just go to Duke and be happy with it. I probably shouldn't be that reality TV spoiled Asian daughter...Thanks for your advice Brainsyk.BrainsyK wrote:Overall COA will also be 10k less at Duke so over the course of 3 years, you save 70k not just 60k. That could be a down payment on a house or any number of things. If your parents are only willing to pay for education, I guess it depends how horned up you are at the idea of working at a V10--probably still not worth it.melmelcoolj wrote:Let's add in the equation that my parents are paying, so I'm not taking out any loans for myself. That said, I don't want to squander my parents' money for we're not the Trumps. But they are well-off, and either decision would not make a huge difference to their life. I prefer NYU a little more for personal reasons. But I feel bad for squandering their money, for I only want BigLaw, and neither the LRAP program nor the good PI opportunities at NYU matter to me.
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Re: Duke with 90k v. NYU at sticker - Help!
OP fortunately seems to have made the right choice already but just to add another +1 to Duke, I went to NYU at sticker over Duke with 72 or 75k (it's been many years...can't remember which) largely because my parents were paying for my education as well. I absolutely, absolutely loved my time at NYU. In retrospect, however, it was very selfish of me to turn down Duke.
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Re: Duke with 90k v. NYU at sticker - Help!
Duke Duke Dukemelmelcoolj wrote:Ah, let me bring this thread back to life. How about Duke with 60K and NYU at sticker? Which one would you choose?
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Re: Duke with 90k v. NYU at sticker - Help!
Yeah, I remember us having this conversation on PMs. I think you might be right.Zipman wrote:Duke Duke Dukemelmelcoolj wrote:Ah, let me bring this thread back to life. How about Duke with 60K and NYU at sticker? Which one would you choose?
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Re: Duke with 90k v. NYU at sticker - Help!
I am going to NYU and I think you should go to Duke.melmelcoolj wrote:Ah, let me bring this thread back to life. How about Duke with 60K and NYU at sticker? Which one would you choose?
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Re: Duke with 90k v. NYU at sticker - Help!
Debt-financed sticker at NYU this fall will be $341K when the first payment comes due (calculated on the basis of the latest Stafford and GradPlus rates). If Mommy and Daddy are paying cash, it will end up as an eminently reasonable $292K.
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Re: Duke with 90k v. NYU at sticker - Help!
I turned down Duke and I say Duke. Cash is king within the t13 and that's why I'm going where I amstego wrote:I am going to NYU and I think you should go to Duke.melmelcoolj wrote:Ah, let me bring this thread back to life. How about Duke with 60K and NYU at sticker? Which one would you choose?
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Re: Duke with 90k v. NYU at sticker - Help!
For the same reason as others said?stego wrote:I am going to NYU and I think you should go to Duke.melmelcoolj wrote:Ah, let me bring this thread back to life. How about Duke with 60K and NYU at sticker? Which one would you choose?
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Re: Duke with 90k v. NYU at sticker - Help!
I'm a little confused about what you mean debt-financed sticker. So you are saying interest + loans is 341K while 292K is without interest? I mean Duke is also something like 230K for me, so...Paul Campos wrote:Debt-financed sticker at NYU this fall will be $341K when the first payment comes due (calculated on the basis of the latest Stafford and GradPlus rates). If Mommy and Daddy are paying cash, it will end up as an eminently reasonable $292K.
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Re: Duke with 90k v. NYU at sticker - Help!
yep origination fees and interest.melmelcoolj wrote:I'm a little confused about what you mean debt-financed sticker. So you are saying interest + loans is 341K while 292K is without interest? I mean Duke is also something like 230K for me, so...Paul Campos wrote:Debt-financed sticker at NYU this fall will be $341K when the first payment comes due (calculated on the basis of the latest Stafford and GradPlus rates). If Mommy and Daddy are paying cash, it will end up as an eminently reasonable $292K.
I have to admit the way you're scoffing at an extra 60-75k rubs me the wrong way. But I guess it really doesn't matter if Mommy and Daddy will be subsidizing law school for you.
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Re: Duke with 90k v. NYU at sticker - Help!
When you take it out in loans, there are loan origination fees and the interest starts accruing immediately. So you save money if you pay the whole bill in cash. The $341K figure probably figures in all the interest you'll pay over the course of paying off the loans. I'm not sure where the $292K figure comes from since total COA for a year at NYU (including tuition) is around $90K.melmelcoolj wrote:I'm a little confused about what you mean debt-financed sticker. So you are saying interest + loans is 341K while 292K is without interest? I mean Duke is also something like 230K for me, so...Paul Campos wrote:Debt-financed sticker at NYU this fall will be $341K when the first payment comes due (calculated on the basis of the latest Stafford and GradPlus rates). If Mommy and Daddy are paying cash, it will end up as an eminently reasonable $292K.
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Re: Duke with 90k v. NYU at sticker - Help!
Sorry I came off the wrong way. I only meant while 292K sounds like a lot of money, 230K sounds like a lot of money, too -- though notably less. That's why I'm on this thread debating these decisions. And I definitely plan to pay my parents back in 5-10 years after law school, but I just don't have a very stringent deadline or interests as with most bank loans. Thanks for your advice!Slippin' Jimmy wrote:yep origination fees and interest.melmelcoolj wrote:I'm a little confused about what you mean debt-financed sticker. So you are saying interest + loans is 341K while 292K is without interest? I mean Duke is also something like 230K for me, so...Paul Campos wrote:Debt-financed sticker at NYU this fall will be $341K when the first payment comes due (calculated on the basis of the latest Stafford and GradPlus rates). If Mommy and Daddy are paying cash, it will end up as an eminently reasonable $292K.
I have to admit the way you're scoffing at an extra 60-75k rubs me the wrong way. But I guess it really doesn't matter if Mommy and Daddy will be subsidizing law school for you.
Last edited by melmelcoolj on Tue Jun 27, 2017 11:16 am, edited 2 times in total.
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Re: Duke with 90k v. NYU at sticker - Help!
No, the 341k figure is just origination fees + interest at graduation (or 6 months or whatever after grad?). Debt on a 10 year standard repayment plan would be over 100k more.stego wrote:The $341K figure probably figures in all the interest you'll pay over the course of paying off the loans.
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Re: Duke with 90k v. NYU at sticker - Help!
Correct me if I'm wrong, but Duke should be quite a bit less than 230k of debt if you have a 60k scholarship (assuming you're still on your parent's healthcare plan) unless you're living lavishlymelmelcoolj wrote:Sorry I came off the wrong way. I only meant while 292K sounds like a lot of money, 230K sounds like a lot of money, too -- though notably less. That's why I'm on this thread debating these decisions. And I definitely plan to pay my parents back in 5-10 years after law school, but I just don't have a very stringent deadline or interests as with most bank loans. Thanks for your advice!Slippin' Jimmy wrote:yep origination fees and interest.melmelcoolj wrote:I'm a little confused about what you mean debt-financed sticker. So you are saying interest + loans is 341K while 292K is without interest? I mean Duke is also something like 230K for me, so...Paul Campos wrote:Debt-financed sticker at NYU this fall will be $341K when the first payment comes due (calculated on the basis of the latest Stafford and GradPlus rates). If Mommy and Daddy are paying cash, it will end up as an eminently reasonable $292K.
I have to admit the way you're scoffing at an extra 60-75k rubs me the wrong way. But I guess it really doesn't matter if Mommy and Daddy will be subsidizing law school for you.
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- melmelcoolj
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Re: Duke with 90k v. NYU at sticker - Help!
I'm an international student, so assume zero healthcare plan in the U.S.. I actually just used the cost of attendance minus my 60K scholarship. Is that wrong?chargers21 wrote:Correct me if I'm wrong, but Duke should be quite a bit less than 230k of debt if you have a 60k scholarship (assuming you're still on your parent's healthcare plan) unless you're living lavishlymelmelcoolj wrote:Sorry I came off the wrong way. I only meant while 292K sounds like a lot of money, 230K sounds like a lot of money, too -- though notably less. That's why I'm on this thread debating these decisions. And I definitely plan to pay my parents back in 5-10 years after law school, but I just don't have a very stringent deadline or interests as with most bank loans. Thanks for your advice!Slippin' Jimmy wrote:yep origination fees and interest.melmelcoolj wrote:I'm a little confused about what you mean debt-financed sticker. So you are saying interest + loans is 341K while 292K is without interest? I mean Duke is also something like 230K for me, so...Paul Campos wrote:Debt-financed sticker at NYU this fall will be $341K when the first payment comes due (calculated on the basis of the latest Stafford and GradPlus rates). If Mommy and Daddy are paying cash, it will end up as an eminently reasonable $292K.
I have to admit the way you're scoffing at an extra 60-75k rubs me the wrong way. But I guess it really doesn't matter if Mommy and Daddy will be subsidizing law school for you.
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Re: Duke with 90k v. NYU at sticker - Help!
I stand corrected. Didn't know you were international. The estimated numbers are probably closer for you then, because of travel costs, healthcare, and differences in loan types. For me, a lot of school's have travel costs built in that I simply won't come near, but that probably isn't the case for youmelmelcoolj wrote:I'm an international student, so assume zero healthcare plan in the U.S.. I actually just used the cost of attendance minus my 60K scholarship. Is that wrong?chargers21 wrote:Correct me if I'm wrong, but Duke should be quite a bit less than 230k of debt if you have a 60k scholarship (assuming you're still on your parent's healthcare plan) unless you're living lavishlymelmelcoolj wrote:Sorry I came off the wrong way. I only meant while 292K sounds like a lot of money, 230K sounds like a lot of money, too -- though notably less. That's why I'm on this thread debating these decisions. And I definitely plan to pay my parents back in 5-10 years after law school, but I just don't have a very stringent deadline or interests as with most bank loans. Thanks for your advice!Slippin' Jimmy wrote:yep origination fees and interest.melmelcoolj wrote:I'm a little confused about what you mean debt-financed sticker. So you are saying interest + loans is 341K while 292K is without interest? I mean Duke is also something like 230K for me, so...Paul Campos wrote:Debt-financed sticker at NYU this fall will be $341K when the first payment comes due (calculated on the basis of the latest Stafford and GradPlus rates). If Mommy and Daddy are paying cash, it will end up as an eminently reasonable $292K.
I have to admit the way you're scoffing at an extra 60-75k rubs me the wrong way. But I guess it really doesn't matter if Mommy and Daddy will be subsidizing law school for you.
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Re: Duke with 90k v. NYU at sticker - Help!
Total COA for NYU this fall is $93K. It's been going up at 4.5% per year, hence the $292K estimate.stego wrote:When you take it out in loans, there are loan origination fees and the interest starts accruing immediately. So you save money if you pay the whole bill in cash. The $341K figure probably figures in all the interest you'll pay over the course of paying off the loans. I'm not sure where the $292K figure comes from since total COA for a year at NYU (including tuition) is around $90K.melmelcoolj wrote:I'm a little confused about what you mean debt-financed sticker. So you are saying interest + loans is 341K while 292K is without interest? I mean Duke is also something like 230K for me, so...Paul Campos wrote:Debt-financed sticker at NYU this fall will be $341K when the first payment comes due (calculated on the basis of the latest Stafford and GradPlus rates). If Mommy and Daddy are paying cash, it will end up as an eminently reasonable $292K.
The $341K figure is the balance at repayment, six months after graduation. That works out to just under $2,000 per month in interest payments alone, without amortizing any of the principal.
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Re: Duke with 90k v. NYU at sticker - Help!
Yes, I find the travel costs usually not enough for me, since I literally live across the globe. Although I have learned to get cheaper flights at weird times of the day, it still adds up over the years. But I agree I can rent a room for 800 at Duke (even less if willing to share), and will be more than 1200 in NYC.chargers21 wrote:I stand corrected. Didn't know you were international. The estimated numbers are probably closer for you then, because of travel costs, healthcare, and differences in loan types. For me, a lot of school's have travel costs built in that I simply won't come near, but that probably isn't the case for youmelmelcoolj wrote:I'm an international student, so assume zero healthcare plan in the U.S.. I actually just used the cost of attendance minus my 60K scholarship. Is that wrong?chargers21 wrote:Correct me if I'm wrong, but Duke should be quite a bit less than 230k of debt if you have a 60k scholarship (assuming you're still on your parent's healthcare plan) unless you're living lavishlymelmelcoolj wrote:Sorry I came off the wrong way. I only meant while 292K sounds like a lot of money, 230K sounds like a lot of money, too -- though notably less. That's why I'm on this thread debating these decisions. And I definitely plan to pay my parents back in 5-10 years after law school, but I just don't have a very stringent deadline or interests as with most bank loans. Thanks for your advice!Slippin' Jimmy wrote:yep origination fees and interest.melmelcoolj wrote:I'm a little confused about what you mean debt-financed sticker. So you are saying interest + loans is 341K while 292K is without interest? I mean Duke is also something like 230K for me, so...Paul Campos wrote:Debt-financed sticker at NYU this fall will be $341K when the first payment comes due (calculated on the basis of the latest Stafford and GradPlus rates). If Mommy and Daddy are paying cash, it will end up as an eminently reasonable $292K.
I have to admit the way you're scoffing at an extra 60-75k rubs me the wrong way. But I guess it really doesn't matter if Mommy and Daddy will be subsidizing law school for you.
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Re: Duke with 90k v. NYU at sticker - Help!
Nyu at sticker. YOLO!
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Re: Duke with 90k v. NYU at sticker - Help!
lol why even ask people here if mommy and daddy are willing to pay 300k for nyu?
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