NYU ($) vs. Harvard

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maghrabi

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NYU ($) vs. Harvard

Postby maghrabi » Wed Apr 02, 2014 6:32 am

I was fortunately offered 25000 a year from NYU (still leaving 55000 expected annual cost). Trying to choose between that and Harvard. Harvard looks like a better program, but NYU is in NYC. probably interested in working in public policy, for social enterprise, or for an ngo in development

NapoleonXV

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Re: NYU ($) vs. Harvard

Postby NapoleonXV » Wed Apr 02, 2014 6:48 am

Two things to consider

(1) NYU has one of the best PI programs nationwide.

(2) Look at which school offers a better Low Income Protection Plan.

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Pneumonia

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Re: NYU ($) vs. Harvard

Postby Pneumonia » Wed Apr 02, 2014 8:08 am

NapoleonXV wrote:Two things to consider

(1) NYU has one of the best PI programs nationwide.

(2) Look at which school offers a better Low Income Protection Plan.


lol at number 2

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DrStudMuffin

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Re: NYU ($) vs. Harvard

Postby DrStudMuffin » Wed Apr 02, 2014 8:14 am

Pneumonia wrote:
NapoleonXV wrote:Two things to consider

(1) NYU has one of the best PI programs nationwide.

(2) Look at which school offers a better Low Income Protection Plan.


lol at number 2


:lol:

Theopliske8711

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Re: NYU ($) vs. Harvard

Postby Theopliske8711 » Wed Apr 02, 2014 9:18 am

Harvard looks like a better program, but NYU is in NYC.


:|

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whippersnappery

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Re: NYU ($) vs. Harvard

Postby whippersnappery » Wed Apr 02, 2014 9:27 am

I think it depends on what your goals are. I'm a 0L, but I have a pretty similar choice. Based on my research so far, my impression is that Harvard is better if you want government or prestige NGO work, but NYU is good for most other PI stuff. It also depends on where you want to be. NYU has a lot of ties to NYC. Harvard has more reach outside of the East Coast (though obviously it's not hard to get NYC from Harvard), and, especially, internationally.

Also, take a hard look at LIPP vs. NYU's LRAP. They're pretty different, and even with 25k a year from NYU, you're looking at a lot of loans (plus that NYC COL).

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jbagelboy

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Re: NYU ($) vs. Harvard

Postby jbagelboy » Wed Apr 02, 2014 10:54 am

mehhh. Considering CoL, you debt would only differ by ~$60-65K. I would probably take Harvard for your goals (policy work) unless NYU ups its scholly to $30-35K/yr, or you have a compelling reason to stay in New York (SO job, free housing, ect). Either choice is defensible but H pulls a little ahead.

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lawschool22

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Re: NYU ($) vs. Harvard

Postby lawschool22 » Wed Apr 02, 2014 10:58 am

Did you get any need-based aid from Harvard?

Also, please check out the "Law School COA Calculator Spreadsheet" thread in this forum and fill that out. Then come back with total COA for each school.

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whippersnappery

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Re: NYU ($) vs. Harvard

Postby whippersnappery » Wed Apr 02, 2014 11:08 am

Also, here are some useful links for you:

http://www.law.harvard.edu/apps/sfs/cal ... lipp-calc/
http://www.law.harvard.edu/current/sfs/lipp/


http://www.law.nyu.edu/financialaid/lrap
As far as I know, NYU doesn't have the nifty calculator like Harvard does.

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lawschool22

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Re: NYU ($) vs. Harvard

Postby lawschool22 » Wed Apr 02, 2014 11:12 am

If you're interested in comparing LRAPs, I'll save you some time: NYU's is better.

But I don't think that should be your main point of consideration necessarily.

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whippersnappery

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Re: NYU ($) vs. Harvard

Postby whippersnappery » Wed Apr 02, 2014 11:16 am

lawschool22 wrote:If you're interested in comparing LRAPs, I'll save you some time: NYU's is better.

But I don't think that should be your main point of consideration necessarily.


Really? What makes you say that? (Not disagreeing, just genuinely curious.)

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lawschool22

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Re: NYU ($) vs. Harvard

Postby lawschool22 » Wed Apr 02, 2014 11:18 am

whippersnappery wrote:
lawschool22 wrote:If you're interested in comparing LRAPs, I'll save you some time: NYU's is better.

But I don't think that should be your main point of consideration necessarily.


Really? What makes you say that? (Not disagreeing, just genuinely curious.)


NYU covers you up to $80k, and then is prorated after that. I believe Harvard's is much lower. I will have to check for the exact number.

ETA Harvard's calc:

Amount you are required to contribute by salary:
$46,000 or less - None
$46,001-$52,000 - 20% over $46,000
$52,001 and above - $1,200 + 40% over $52,000

ETA2: NYU's calc

Those participants earning above $80,000 will have a Participant Contribution which will be equal to 40% of the amount by which the participant’s Qualifying Income exceeds $80,000. For example, if a participant’s Qualifying Income is equal to $86,000, the participant’s LRAP benefits will be reduced by $200 each month ($86,000 - $80,000 = $6,000; $6,000 x 40% = $2,400; $2,400/12 months = $200 per month
Participant Contribution).

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lawschool22

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Re: NYU ($) vs. Harvard

Postby lawschool22 » Wed Apr 02, 2014 11:22 am

So in essence they are the same once you cross the threshold (i.e. required to pay 40% of the amount by which you exceed the threshold). But Haravard's threshold is much lower ($52k vs. $80k), they tack on an additional $1,200k, and they even make you start paying a little bit (20%) even earlier ($46k).

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koalacity

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Re: NYU ($) vs. Harvard

Postby koalacity » Wed Apr 02, 2014 11:45 am

lawschool22 wrote:
whippersnappery wrote:
lawschool22 wrote:If you're interested in comparing LRAPs, I'll save you some time: NYU's is better.

But I don't think that should be your main point of consideration necessarily.


Really? What makes you say that? (Not disagreeing, just genuinely curious.)


NYU covers you up to $80k, and then is prorated after that. I believe Harvard's is much lower. I will have to check for the exact number.

ETA Harvard's calc:

Amount you are required to contribute by salary:
$46,000 or less - None
$46,001-$52,000 - 20% over $46,000
$52,001 and above - $1,200 + 40% over $52,000

ETA2: NYU's calc

Those participants earning above $80,000 will have a Participant Contribution which will be equal to 40% of the amount by which the participant’s Qualifying Income exceeds $80,000. For example, if a participant’s Qualifying Income is equal to $86,000, the participant’s LRAP benefits will be reduced by $200 each month ($86,000 - $80,000 = $6,000; $6,000 x 40% = $2,400; $2,400/12 months = $200 per month
Participant Contribution).

NYU's current LRAP is better than H's LIPP, but H's has a not-insignificant advantage of not being tied to the federal programs (PSLF/PAYE). Eventually those federal programs will likely be modified or go away entirely, and we don't know how NYU's LRAP will change in response-it will almost certainly become less generous than it is at the moment. That being said, c/o 2017 is probably okay to rely on the federal programs, but that's not a super safe bet (especially if the Rs take the Senate this year and/or take the White House in 2016).

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calle_25

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Re: NYU ($) vs. Harvard

Postby calle_25 » Wed Apr 02, 2014 12:06 pm

lawschool22 wrote:
whippersnappery wrote:
lawschool22 wrote:If you're interested in comparing LRAPs, I'll save you some time: NYU's is better.

But I don't think that should be your main point of consideration necessarily.


Really? What makes you say that? (Not disagreeing, just genuinely curious.)


NYU covers you up to $80k, and then is prorated after that. I believe Harvard's is much lower. I will have to check for the exact number.

ETA Harvard's calc:

Amount you are required to contribute by salary:
$46,000 or less - None
$46,001-$52,000 - 20% over $46,000
$52,001 and above - $1,200 + 40% over $52,000

ETA2: NYU's calc

Those participants earning above $80,000 will have a Participant Contribution which will be equal to 40% of the amount by which the participant’s Qualifying Income exceeds $80,000. For example, if a participant’s Qualifying Income is equal to $86,000, the participant’s LRAP benefits will be reduced by $200 each month ($86,000 - $80,000 = $6,000; $6,000 x 40% = $2,400; $2,400/12 months = $200 per month
Participant Contribution).

Does anyone know what the maximum Qualifying Income is? i.e. at what point do you become ineligible to receive any assistance in paying your loans?

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Pneumonia

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Re: NYU ($) vs. Harvard

Postby Pneumonia » Wed Apr 02, 2014 12:49 pm

Yeah if I'm not mistaken LIPP covers a broader range of jobs too: any legal employment or any PI employment. I don't think NYU covers private legal employment, ie shitlaw or doc review.

politics89

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Re: NYU ($) vs. Harvard

Postby politics89 » Wed Apr 02, 2014 1:31 pm

Not to derail from OP, but the problem I saw with NYU's LRAP was that they aren't actually paying down the loans so if you don't do PI for all 10 years, it's a problem. Also, if you do Big Law and then PI they count some of that big salary towards LRAP if you haven't been making big enough payments towards your loans during that time (which wouldn't be a huge concern except for if you're in my situation and have tons of UG debt). Correct me if I'm wrong though.



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