William and Mary vs. NYU Forum

[r6_philly]

Problem with this is that we would only get LRAP for the IBR payment which is like nothing and would make the loan go on forever.

If you stay in PI, your loan will be forgiven. If not, your wife will be making enough to pay more/faster after she finishes residency.

[RPK34]

Really, the best idea here is to sit down with your wife and calculate all the numbers you need for IBR and each school's LRAP. Figure out your total debt, her total debt, your expected salary, her expected salary during residency, her expected salary after residency, etc. For instance, that stipulation of not having a net value of over $20,000 at NYU could become a pretty large obstacle.

I would guess that the difference between the three won't be incredibly large. But compare UVA, W&M, and NYU and see which one comes out best.

[Nogameisfair]

Really, the best idea here is to sit down with your wife and calculate all the numbers you need for IBR and each school's LRAP. Figure out your total debt, her total debt, your expected salary, her expected salary during residency, her expected salary after residency, etc. For instance, that stipulation of not having a net value of over $20,000 at NYU could become a pretty large obstacle.

I would guess that the difference between the three won't be incredibly large. But compare UVA, W&M, and NYU and see which one comes out best.

I guess the factor that is unknown, and that would make this calculation challenging, is the risk of not getting the desired job that accompanies attending any of three schools. I would put the risk of not getting it significantly higher from W&M than the other two, but it's hard to really know.

[thecilent]

1) Get Divorce
2) Stay together
3) Go nyu and lrap
4) Get remarried in 13 years
5) ???
6) Profit

[heyman]

From what I discussed with you guys..NYU seems the best option. The LRAP I would receive for the first four years is much larger than at UVA (which I haven't even been accepted to yet).

Furthermore, I agree that NYU will allow me much greater mobility as I likely do not want to stay in VA.

Lastly, the benefit of being more likely to get a job out of NYU.

After 4 years of getting significant (probably over $10,000/year) LRAP money, this will definitely help pay off the rest of the loan as my wife will have a higher salary after these 4 years.

[heyman]

W&M is giving a great amount of money and is SIGNIFICANTLY decreasing any debt I would have to pay...but in the end I guess that security is not worth possibly not getting a job!

[vicuna]

Repost this question after both you and your wife hear back from all of the schools.