Undergraduate: University of Michigan (Ross) vs. NYU (Stern) vs. Penn State (Smeal), but DEBT

pjr1202's picture
Rank: Chimp | 14

So I want to work in either investment banking, private equity, or venture capital and I am currently deciding on an undergraduate business school. So NYU is currently my #1 and I am aware of the lack of campus and school spirit. This is the big question; debt? My college fund is about 158k. If I go to Michigan I will have 60k in debt, Nyu 120k in debt, and Penn State I will have 40k positive that I can invest freely on my own. What school is the best choice? I plan on being a finance major.

Comments (8)

Apr 7, 2015

Are you a Ross preadmit? Did you get admitted to Stern? Ross does not offer a "finance major." It's a Bachelor's in Business Administration but you can elect finance classes.

Stern is much closer to Wallstreet, but there's no way it's worth double the debt and Ross places very well in comparison.

Apr 14, 2015

I am not sure if I was pre admit to Ross yet, I find out next week. I was admitted to Stern. I had three of my relatives involved in Finance who each make over two million tell me to go to Stern and take the debt.

Apr 14, 2015
pjr1202:

I am not sure if I was pre admit to Ross yet, I find out next week. I was admitted to Stern. I had three of my relatives involved in Finance who each make over two million tell me to go to Stern and take the debt.

Ohhh high school kids...

Go to michigan if you are admitted to Ross. Will do better than NYU.. Ross has a SOLID brand and you will get a full college experience

Apr 14, 2015

I actually would list Ross on top; aside from Finance/Bschool, U-Mich is definitely a lot stronger than NYU. Plus the extra debt isnt worth it; you will need MBA if you'll keep your footing in business world; you want to clear up your debts before MBA, because MBA will be debt-incurring too!

Main thing against PSU for me is that.... it's too much of a party school, and I don't see it as a target; semi-target at best. but it is a very good bottom safety.

Apr 14, 2015

Ross

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Apr 14, 2015

I would say Ross, but I am biased because it is where I went to school. A lot of it has to do with what you want to do after graduating. If you are 100% certain you want to do Banking, Stern is a good option because of the proximity to Wall Street - the amount of IB recruiting there is high, On the other hand, I think your options at Michigan are broader, not to mention an overall better college experience (Sports, Parties, Campus life, etc...). I have many friends in IB, Consulting, etc from Ross, and I work in FP&A for a leading Silicon Valley tech company.

Personally I don't think the decision should boil down to $50-$100k, in the grand scheme of a successful career in Finance these are drops in the bucket. Find better reasons to go with one school or the other. If you want to talk to me more about Ross - send me a PM.

Apr 14, 2015

I just found out that Michigan is not going to give me any loans and the cost will be 56k-58k a year, which will put me in debt of over 100k too. However, we can't really pay for it if they do not allow Parent Plus Loans

Apr 14, 2015
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