Worth it to go to Stern?
I applied ED2 to Stern and was accepted. I was offered a 36k scholarship and some federal loans which would bring my total cost of attendance down to $35,000 for a year.
Now, my family can’t afford this so I could opt out of ED2 for that reason, but I’d just like some advice on what you guys think. I believe that I’d be competitive at Stern, given my highschool GPA at 3.9 and 14 APs, so I’m used to rigor, so without trying to be pretentious or anything, I think at Stern I’d do well.
I applied to Duke, Cornell, Northwestern, and WashU for the regular decision round.
Do you guys think it’d be worth it to take on the 100k+ in debt to go to Stern? I eventually want to go to IB and end up in PE.
Any other seniors who are in similar situations, feel free to reach out to me. I think it’d be a good idea to talk about this with another student
Here are some links to a couple previous discussions on the same topic,
https://www.wallstreetoasis dot com/forums/nyu-stern-150k-debt-or-minnesota-carlson-for-ug-finance
https://www.wallstreetoasis dot com/forums/college-debt-inquiry
These discussions might help give you some clarity and see what some people have already said.
Appreciate it. Thank you
It depends what your other options are and how much they cost. Is your state school good? If you have no other good options as of right now and the deposit deadline is soon, maybe pay the deposit and then see if you get into one of those other top schools with more money.
Got into UIUC and Purdue. Waiting on Duke, Cornell, NU, and WashU. I think you have a good idea. thank you
How much would UIUC cost you?
are you instate for Cornell? with a 3.9 and 14 APs you should be getting into at least Cornell/Duke/Northwestern. don’t go to NYU - each of these schools would be better (esp Duke) and will give you more financial aid. not a comphrensive comp by any means but I had a 3.9ish and 15APs and got into all of the schools you’re waiting on with Cornell giving me a bunch of merit stuff to entice me to go. this was 10 years ago but 14APs is still extremely rare.
you can come back and kill me if I’m wrong but you should be getting into one of those 3.
Faced a similar decision. Decided to go to a cheaper school and then transferred into a target. Now at EB. Top schools are much more generous with financial aid, and will definitlely be more affordable than NYU if you get in. NYU is particularly stingy with that finaid money (personal experience).
Appreciate it. I did appeal but no luck.
Wow cool, I did the same. Transferred into a target and got into PE out of UG, same with 1-2 of the other transfers every year they seemed to kill it with recruiting.
Did you transfer within one year or two? I'm also planning on taking the same route but I'm not sure about internship opportunity loss since the UC system requires two years to transfer.
Transferred after 1 year. I wouldn't advise transferring after 2 years if you are trying to get into IB as recruitment is almost entirely in sophomore year. The longer you are at the better institution, the better candidate you will be in the eyes of employers, so if you can I would strongly suggest transferring after 1 year vs 2
I’m also in the same boat. stern for 80k and Rutgers for 15k. I’d go to stern, but that tuition seems outrageous. would it be really tough to transfer back there or some other target school? what was your experience transferring like?
That depends on your risk tolerance. Stern will give you options in finance that Rutgers doesn't and if you land an IB gig, 250k debt for college will be worth it if your other option is a 45k ops job out of Rutgers. If you have a good SAT/ACT already (98/99 percentile) and just got unlucky with the top school processes, you should go to Rutgers, get a 4.0 (not hard at state schools with no grade distribution, but realistically above a 3.95 should do it), join orgs on campus and spend the whole year researching and crafting your story about why you want to go to school XYZ. Then apply to all the top schools to maximize your odds (E.g: Ivy + MIT, Stanford, Duke, Northwestern, U Chicago, Vanderbilt, Rice, + some top LAC's). Given ^^ that transfer profile profile you should get in to one of those schools, all of which will be generous with financial aid (I paid more my freshman year at a cheap state school then I do now at one of those schools). If you vary from this track in any way, (e.g: SAT/ACT not high enough, no extracurricular in college) you will need to make up for it by retaking the SAT/ACT to score in that percentile, having an incredible story, or by doing a heinous amount of research about a school and impressing admissions (last option is a long shot). Also, remember that if you decide to pursue the transfer route, don't worry about your HS GPA in your calculations of whether you will get in, HS GPA is irrelevant once you have a college GPA, I had around a 2.0 in HS, and got in to 3 out of those schools listed above (even though they "say" they care, all they really care about is the macro transfer class profile statistics, which includes SAT/ACT, college GPA, etc.). Hope this helps, good luck.
I’m also in a similar situation. I got into Stern but with no aid. How were you able to transfer to a target? Isn’t admission for a target as a transfer nearly impossible?
3.9 and 14 APs really means nothing tbh
That’s true honestly. Pretty much the norm for Asian kids like myself lol.
Honors = Remedial AP= Regular
congrats on stern. if you are absolutely sold on Stern, follow your heart. however it is important to consider financials. there are a lot of great schools I’m sure you could get full or close to full scholarships at based upon your pedigree.
Appreciate it
Think long term here. Do not consider UIUC / Purdue. Cornell = Duke > Stern > Northwestern based on what I’ve seen in NY IBD but all will get you to where you want to be. Elite schools are more likely to provide aid anyway. The benefit of going to a target school with prestige far far out ways the cost of tuition. this is your career you’re talking about man. IB jobs set you on a track to make hundreds of thousands in your twenties. don’t jeopardize that to save tuition money and go to shut schools.
Apologies for typos - typing on WSO app which is a piece of shit, doesn’t let you scroll down to see what you type and doesn’t let you edit comments
northwestern honestly edges out stern if you factor in competition
On a # basis, NYU = Cornell > Duke > NU for IBD. But Duke may beat NYU and Cornell if we factor in competition.
Where would you place UVA among these schools?
^^ someone who has absolutely no idea what he is talking about. In NYU 9/10 kids are gunning for IB, so yes there might be a slight increase in the number of spots for NYU but the percent chance of landing a gig (its a numbers game at the end of the day - don't kid yourself) is much lower. Duke and Cornell will get you more looks than being another random finance hardo from NYU. Northwestern is a bit different as there are only about 40 kids interested in banking each year, but placement rates for those are ridiculously high, as there are influential alumni in just about every BB, EB and MM bank.
Thanks. I’ll think about that.
Absolutely don't go there. $140,000 for an education, especially when your family cannot afford this and you will take out student loans will ruin your life. Especially for "Stern" which is at best a semi-target school with hundreds of kids vying for the limited spots on Wall St. I had the option to go to a school of the same caliber and I'm so glad I turned it down and went to a state school for free. I am now entering a top BB in one of the top groups on the Street. I am no genius, all I did was hustle from day one. If you aren't born into money, NYU or any school like that is not worth it- borrowing to pretend you're rich is just a recipe for disaster, and trust me you'll regret the day you ever decided to take on this much debt. It seems far removed right now, but imagine you don't get a good position- or even if you do. Every.single.night. you lay your head down you will have a mountain of debt waiting for you when you wake up the next day. It will take more than a decade to pay that off (unless you do land a top IB job in which case it will take shortest 5 years). Also, people don't like to mention the fact that they say oh yeah whatever I dont mind spending my entire bonus for the next 5 years to pay off debt, but could you imagine seeing ZERO return to your life and literally just paying for a piece of paper- its nuts, dont fall for the hype man. good luck
that last part of your post...is literally what every LBO model with a cash flow sweep consists of... student debt is not credit card or consumer debt. it’s not asset backed debt either but it’s the same in that it’s LEVERAGE. it’s part of an investment. and the returns are pretty fucking high if you don’t fuck up. if you do fuck up yeah you go BK just like PE backed LBOs. trust in yourself and lever yourself up if that indeed is the best option. Yes there’s a PG attached to this type of leverage and this is scary and risky but that’s what it is.
Currently an upperclassman at Stern with an offer from a top BB. Feel free to pm me if you have specific questions about what it’s like at NYU or Stern specifically.
How bad is the competition? I'm also debating whether to go to Stern or a low-tier state school due to costs and I'm really conflicted about getting into that much debt.
Since you have so many APs, you can probably graduate a full semester or even a year early with relative ease. I'm not sure if it's still the case, but NYU is very generous with recognizing AP credits so you should look into that.
If you graduate a semester early, you still stay on track with everyone in your year as far as recruiting and everything. You'll also graduate closer to $100k in debt, which is obviously a lot but really crazy. If you're confident you can get into (and will want to stick around) IB and eventually PE, then $100k won't matter by the time you're 30. I had very similar circumstances, though my alternative schools probably weren't as solid, and everything worked out for me, but just know that much debt is always a risk.
Yeah. I would save a lot of money with my APs. I’m going to take that into consideration
For what it’s worth, the kids from NYU that I have worked with have been extremely intense about their finance (seemed to get really passionate about their IRR analysis models) and for the most part insanely competitive. Only bad part is that they were all weird af.
I went to Stern. It will get you a top IB job if you want it, making tuition worth it. But make sure you know what you're getting yourself in to – going to school in NYC is very different than, say, Duke. Feel free to PM, I'm at a BB right now.
How can he PM if you’re anonymous?
Could you message me? I can’t since you’re anonymous.
can you also please pm me! would love to ask some questions but you're anon! stern freshmen here btw
del
Are you satisfied with your current position? Did you take on a lot of debt and have you paid that off since?
del
Stern teaches you how to trade off of RBC insider info.
If your financial health following college is entirely dependent on the IB-> PE or HF path because you'll be taking on so much debt to get through college then I'm not sure I'd recommend it. Also surprised you didn't get substantial scholarship from UIUC.
In your case I would just go to Stern freshman year and transfer out if you don't like it. As for ranking them it would probs be Cornell Dyson>Duke>Stern>(rest of Cornell)>Northwestern>WashU.
Duke>Dyson
Excepturi consequatur exercitationem ex at dolorem. Consequatur velit quo ut incidunt nostrum nihil. Provident adipisci dolorem et sint ut sit est. Officiis pariatur laboriosam aut itaque natus esse veniam. Autem impedit vel cumque qui. Fugit saepe aut aut error et consequatur animi. Aut possimus culpa magnam a sapiente.
Omnis quae distinctio aspernatur minus nemo. Voluptatum ipsam ipsum necessitatibus. In harum eligendi ex voluptatem architecto.
Eveniet velit ratione quis eos tempore provident consequatur. Aut ducimus sunt suscipit laboriosam dolores. Eos hic officiis eum ut voluptas atque neque. Non cum quo eos tenetur. Possimus est quia aperiam magni.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Ut tempore eius amet provident quidem excepturi. Est et explicabo assumenda labore molestias. Voluptates possimus quia occaecati laboriosam ut optio. Blanditiis nisi at aut consequatur.
Aliquid placeat quidem nesciunt et. Est repudiandae soluta pariatur adipisci atque et quia et.