kscott813 wrote:TemporarySaint wrote:Above analysis is worthless since it doesn't take into account the interest of tens of thousands of dollars. OP if you don't see the value in free tuition at a school like NW, you're either a flame or just retarded.
Thank you for the insult, but people in the real world have a lot more sympathy for my dilemma.
Yes I understand a full ride at northwestern is awesome, but NYU wins all of the intangibles.
*Like the location A LOT better
*Chicago is a declining city, I see NY as a much more stable market in the long term
*Love the culture at NYU
*DONT have to defer
I honestly don't understand the negative vibes here. Yes I am fully aware that going to Northwestern for (essentially) full tuition is a great deal and I am extremely lucky to have the offer. On the other hand going to NYU for 50% tuition is also a great deal. A lot of people have gone paying way more and ended up just fine.
I appreciate the feedback. My heart says NYU, but logic says Northwestern. I understood a lot of people here would say to go to Northwestern and I understand that. I am definitely taking everyone's advice into consideration, but that doesn't mean I'm some kind of idiot for considering my options
Going back to the opportunity cost of deferral...
One year's lost wages lets say $160,000
After taxes, etc,
Lets say $80,000
Now I also can work this year, but most good paying jobs for someone with my experience are already taken.
So I end up with a job that pays my living expenses, plus lets say I pocket 10-15K
That means the Opportunity cost is around $65k
Assume $100,000 difference in schollys based on loan payments,
$35,000 difference. Still significant, but not outrageous considering perks of going to preferred school.
Now of course there is the added benefit that the NU is a safer option, but I am fairly confident in my abilities to land a job in big law. Yes I know there are going to be naysayers that it is a "flip of a coin", but I guess I am a risk-taker.
All of that being said, yes I still see the wisdom in going to NU and am still considering it. I just don't see how NYU is a retarded choice...
OP: yeah, there are insecure trolls everywhere on the internetz, TLS is no exception.
What numbers can't tell you is how you feel about a place. If NYU is your dream school, you will regret not taking the chance. If your heart is not in it at NU, then I think it will make a huge difference in motivation and perhaps grades.
I had a similar choice between a safe and risky option. U of Toronto (home, basically free) vs. CLS (probably sticker), and after thinking about it and talking to friends and family, I knew that even if I ended up great out of Toronto I would always ask myself "what if". If I did horribly out of CLS, I knew I gave it a shot at least. Of course, it's different cuz these are two different countries with different legal markets, but you can see the parallel.
[As an aside, personally I think unless you borrow every penny and interest rates skyrocket in the coming years, NYU doesn't look horrible financially either, it's riskier, sure. But 1. it's hard to quantify this risk given poor data and 2. if you do well @ NYU, then it's just fine.]