Summer can't afford housing but offered high pay. Will they hate me to ask for housing stipend?

I'm a sophomore who received an offer for a respectable large bank, without going into too many details. the pay they offered me would be more than enough to offset the costs of new york, but there's no housing stipend and at the moment, I'm not in a financial situation to pay for housing. I could try to hold down a part time job next semester, but I'm not sure if I'll be able to make enough.

Would it irritate them if I asked for a housing stipend, or if that can't be done, to get paid some of my work hours a bit early so I can afford housing? I feel like I got really lucky getting this position and don't want to start off with them looking down on me for this or something,

Comments (8)

Dec 13, 2015

EDIT for clarification: Where is your school located?

If you are doing a serious relocation, then I wouldn't be shy about asking. If you are in the NY area however, you're going to have a tougher sell. And to clear; they aren't paying you enough for you to be able to afford housing? If this is the case, then the other interns are probably in the same boat and you should reach out to them as potential roommates.

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Dec 13, 2015

My school is not in NY but this is for summer. They're definitely paying me enough tfor housing, but I don't have the money right now for housing and am not in a situation wher eI can ask my parents

Dec 13, 2015

I'm pretty much in the same position. I get a housing stipend but I'm pretty sure it'll be paid with my first paycheck, which is the same at a few other banks.

If I understood your post correctly and you'll be making enough during your internship to cover the cost of housing, you should consider taking out a loan in the meantime. You should first try family members, but if they can't afford it either, try your school, local credit union, P2P loans, or large bank if you can find someone to cosign. You might only be able to find a high interest loan, but since you'd be able to pay all of it off early with your summer earnings, you wouldn't actually end up paying that much in interest assuming you sign up for a 3-5 year loan. I'm planning on living in university housing, which all require that the entire balance be paid before the summer, so I just did what I suggested above and took out a loan that I'll pay back with my first paycheck.

Dec 13, 2015

Oh, my friends that got housing stipends said they receive it before the internship, so that's interesting to hear. I had no idea about the university housing! Can you PM me the palce that does this? Is all university housing like this?

Dec 13, 2015

School of Visual Art, NYU, and New School all require payment before the summer starts. Expect to pay $3000-$4500 for the entire summer, depending on whether you get a roommate, room size, etc. I'm not sure what other schools' payment policies are.

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Dec 13, 2015

+1

Dec 13, 2015

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Dec 19, 2015
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