ned wrote: ajax wrote: ned wrote:
MrAnon wrote:If, in the face of these stats, people still identify Fordham as a dream school, the school will not have to give out money.
There are no dream schools. We all have to write our own tickets. The world is not binary. It's a good, solid school in NYC. Nuf said.
(I feel like the protagonist at the end of a zombie movie.)
No one is claiming Fordham is a bad school. I believe you are having trouble spotting the issue. The issue is whether or not Fordham is worth 150k sticker plus cost of living. The answer to the issue is no.
This zombie is trying to eat my brain! Looks like someone started to read getting to maybe!
Fine, it's a quiet day so I won't ignore you.
What is a reasonable monthly loan payment for a Fordham grad to pay 3 years from now? I assume you've made the analysis and came up with a universally appropriate number. Do tell.
The monthly loan payment on 200k of debt (very low estimate, if you pay sticker you'll likely come out owing 250k) is roughly 1500/mo over 30 years (this is only interest, to pay down your loan you will have to pay more). A shorter duration and it's larger /mo. Rent in Hoboken, not Manhattan, for a decent one bedroom is 2200/mo. For manhattan, an upper east side studio is getting close to 3000. After taxes 160,000 salary comes to, I forget, something around 8500/mo? If you live in NYC, or a borough, it's 3 percent less than that because of the NYC income tax.
If you make BigLaw, you can pay down your loan. If you make 80,000/year, which is roughly 4k/mo, you will not be able to make loan and rent payments without living in the ghetto. If you like the ghetto, more power to you. Making 120k, if these jobs do exist, will barely be enough for you in NYC.
Long story short, you sure as hell better land a biglaw gig if you're paying sticker. Fordham puts roughly 20% of it's graduating class into biglaw. Sure, that's great compared to other schools, but over half of Fordham's class is getting no aid. So some people are going to be screwed regardless (unless mommy and daddy pay the bill).