cornell full price tag vs. nymc $20,000 scholarship

[monkeydoctor]

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hey all, trying to make some decisions here --
cornell definitely has a lot of advantages: resources, location, international opportunities, name/rep, just to name a few...
at cornell i'm looking at around $45,000 in loans each year.
at nymc, with $20,000 off tuition, i'm looking at around $30,000 a year in loans.
total difference over 4 years: somewhere between $50,000 - $80,000.
what do y'all think??


-monkeydoc

 

[FemalesCANTDriv]

You are a monkey. Cornell.

 

[tdd340]

Take the money and run

 

[facewait]

Cornell

 

[Macbeth]

Has Cornell released financial aid info yet? It was my impression that they were pretty good about that.

 

[Dooooom]

Donkey is more accurate.... Cornell

 

[sendwich]

total difference over 4 years: somewhere between $50,000 - $80,000.

w/ interest, it's bound to be more like 100,000 (if not more). but what do i know anyway? CORNELL!!!

 

[Doctor~Detroit]

if you want to do academic med or a really competitive specialty, i would lean towards cornell but still put some thought into it. if primary care or a low-paying, non-competitive specialty is in your future, i would almost definitely go with nymc. i think they let you do clinical rotations in nyc, so you would still get some of that experience.

 

[Noeljan]

cornell

 

[applyingsucks]

I don't know you, so I hate to judge.

But if you choose NYMC over Cornell you are *****.

just my opinion.

 

[CTtarheel]

def. wait for your cornell package. Don't make a financial decision until you have all the facts. That said, having 100k less debt might end up giving you more options when it comes time to choose a residency (i.e. you might be able to consider longer residencies b/c you won't need to pay back as much $).

 

[Robizzle]

My sister's in her 4th year at Cornell and I am gonna have to say Cornell. It's pretty freakin awesome.

 

[NYyanx28]

You would be the first person I know of to reject Cornell over NYMC. The $100,000 more that you would pay could be financed over 20 years, like you would a house and end up paying maybe $300 more a month? That is chump change.

 

[MrBurns10]

I believe there are some med schools worth paying full price for. Cornell is one of them.

 

[MossPoh]

Go to where you like better. Cornell has the prestige and all that. NYMC has put a fair amount of competitive specialties out there though....My dad's a nymc grad and seems to do quite fine. 😛 It is tough because that is a lot of money to a lot of people....but when you look at the grand scheme of things it isn't THAT much. You kind of have to anticipate what you'll be making and willing to sacrifice rather than using your current viewpoint on cash. I mean I will fight for 75 cents now, so 75 grand seems ridiculous. 😉 Go where you get that fuzzy feeling, and maybe a little sexually aroused (unless it is in the gross anatomy labs.....that's just kind of weird)

 

[IceIt91]

One more thing...NYMC's budget is for $60,000- so even with 20 grand knocked off you're only looking at a difference of $20,000 spread out over 4 years, unless you are getting some other form of additional funding to go to NYMC other than the scholarship.

Either way, I'd go with Cornell. NYMC is a good school, but Cornell is freakin awesome.

 

[JackofAllTrades]

I don't think $80,000 is a significant enough difference to choose NYMC.

 

[ahoyfatty]

Go with NYMC. I need to get off of Cornell's waitlist.

 

[blackrsx]

Nymc

 

[MrMet31]

I am a grad student at Cornell and they aren't kidding when they say there is the ivy league and then there is everyone else. Go for Cornell, you will not be disappointed.

 

[QofQuimica]

hey all, trying to make some decisions here --
cornell definitely has a lot of advantages: resources, location, international opportunities, name/rep, just to name a few...
at cornell i'm looking at around $45,000 in loans each year.
at nymc, with $20,000 off tuition, i'm looking at around $30,000 a year in loans.
total difference over 4 years: somewhere between $50,000 - $80,000.
what do y'all think??


-monkeydoc

This is an issue of your personal values and preferences. There is not a universal "right" or "wrong" answer here. Do you care more about the money, or do you care more about the prestige? Only you know what matters more to you. You are not a "*****" if you decide that you would prefer to save the money; taking on unnecessary debt is a perfectly valid concern. Keep in mind that many of the people responding here have never been financially responsible for themselves for a single day, let alone the decade or two it will take you to pay off your loans. In addition, they may or may not have similar values to yours. I suggest that you talk the pros and cons of your choice over with your parents, your advisor, or someone else whose opinion you trust. You should probably also go to both second looks if you can. One other thing you might try doing if you decide to choose Cornell is to ask them if there's anything more that they can do to help you financially. Best of luck to you with your decision. 🙂

 

[Critical Mass]

def. wait for your cornell package. Don't make a financial decision until you have all the facts.

👍 Trudat.

Cost of living is outrageous at both, and your debt level seems to be huge at either school, and 45K in loans each year is almost what I borrow at my state school in the sticks. Pick the one that has the curriculum/environment that suits you best. I'm not much of an NY expert.

 

[nka1985]

Um, what? You have to ask? CORNELL! GO! Drop NYMC so someone else can have the spot, because it has nothing on Cornell.

 

[pyrois]

If you have few aspirations, take the money.

If you want to go into a competitive specialty at a high level institution, OR, if you simply want options, take Cornell.

To be honest, everybody who fusses about scholarships is silly. Even the greatest differences are paltry compared to what you'll be making in the future.

You always hear about docs paying off their loans for 5 or 10 years, yet they're still driving around brand new BMW's and live in million-dollar homes. It's not that it was too much for them to pay, it's that doctors are infamous for their poor money-managing skills.

That being said, if you think you'll be bad at managing your money, and want to buy a SL55 the moment you graduate, then you should probably take the money😛

Keep in mind, that financial aid packages include living expenses, so if Cornell gives you a $40,000 financial aid package, it means they've taken almost $20,000 off their tuition (since total student budget is around $60,000). If NYMC gives you $20,000/year, you're still going to be paying around $45,000/year (assuming your quote of 30,000 wasn't including living expenses) while cornell would simply be $55,000/year. A $40,000 difference over 4 years isn't all that much. Instead of getting the SL55, just settle for an E55, or maybe a Porsche if you want to be thrifty.

 

[xylem29]

if you want to do academic med or a really competitive specialty, i would lean towards cornell but still put some thought into it. if primary care or a low-paying, non-competitive specialty is in your future, i would almost definitely go with nymc. i think they let you do clinical rotations in nyc, so you would still get some of that experience.

come on, is this really true? a tad bit of an exageration at least?

 

[pyrois]

come on, is this really true? a tad bit of an exageration at least?

No it's not true.

You can still get into a competitive specialty from NYMC... but it'll be in Utah or something.

 

[FemalesCANTDriv]

Nymc

Oh 😱 sorry black. Ya I change my answer to NYMC!

 

[Doctor~Detroit]

come on, is this really true? a tad bit of an exageration at least?

it's true. if i'm going into family med, i'll take over half my yearly salary now please, and still match somewhere fine. thank you.

 

[Sphygmoman]

Every doc I've ever worked with says its ridiculous not to go where it makes most financial sense, and that only a handful of residency directors and subspecialties would hold it against you.

 

[Thayer]

CORNELL

Cornell was my second choice but I was rejected preinterview. I have a friend there and she absolutely loves it. She says her class is so supportive and cooperative, not competitive at all. Living spaces are in a great location, very safe, but you encounter a diverse patient population (since it's NYC). And classes don't last the whole day, they get out at 1:00 PM so you can actually do something else with the rest of your day...like explore NYC, volunteer work, or the ever popular: study. 😛

 

[notdeadyet]

Every doc I've ever worked with says its ridiculous not to go where it makes most financial sense, and that only a handful of residency directors and subspecialties would hold it against you.

Ditto. Try to find anyone over the age of thirty that talks about "prestige". Really, the reputation of your alma mater will matter less and less as the years roll by.

If I was deadset on neurosurgery, I'd go Cornell. If I was looking at being a pcp and I thought I'd enjoy NYMC, I'd go NYMC.

 

[gsmithers68]

hey all, trying to make some decisions here --
cornell definitely has a lot of advantages: resources, location, international opportunities, name/rep, just to name a few...
at cornell i'm looking at around $45,000 in loans each year.
at nymc, with $20,000 off tuition, i'm looking at around $30,000 a year in loans.
total difference over 4 years: somewhere between $50,000 - $80,000.
what do y'all think??


-monkeydoc

1. Wait for Cornell's fin aid package
2. Both schools are legit medical schools and if you want to go to a specialty that is competitive then what matters is good scores and recommendations. Cornell's name may open a few extra doors, but people's names open more than a school's name, remember that.
3. MOST doctors will tell you to go where it is cheap. Period. For every dollar you take out, you will have to pay back 1.5:1 most likely.
4. 3rd and 4th year rotations for NYMC are in NYC and are at great hospitals... you can get outstanding letters in any specialty probably as comparable as to those if you do your 3/4 years at Cornell.
5. Cornell is PBL style learning, NYMC is very independent learning. Big difference if you ask me. Go where you can succeed.

So, my 0.02... follow the money unless you can't see yourself succeeding in their curriculum or being unhappy in Valhalla. People on here will call you crazy if you don't go to Cornell... I would call you practical.

I am on the waitlist at Cornell and I have been accepted to NYMC... I haven't got my fin aid package yet, but if I do get a hefty scholarship I plan to withdraw from Cornell and leave it up to OHSU to sway me from not heading out east following the money.

 

[notdeadyet]

5. Cornell is PBL style learning, NYMC is very independent learning. Big difference if you ask me. Go where you can succeed.

All good points, but #5 is a nice catch. These are two very different systems.

 

[Boris Badenov]

There are ten medical schools that, based purely on pedigree, can really help propel you into strong residency programs and competitive specialties.

Cornell is one of them.

Even if NYMC were to offer you a free ride, you'd be out of your mind to choose them.

 

[C.P. Jones]

All good points, but #5 is a nice catch. These are two very different systems.

very true. I would have gone with Cornell until I came upon that point. I really do not enjoy PBL, and would probably thrive much better at NYMC. Nonetheless, it's difficult to say no to Cornell even with that in mind! On the plus side, you may be my future classmate....hopefully that doesn't scare you away 😀

 

[Robizzle]

No it's not true.

You can still get into a competitive specialty from NYMC... but it'll be in Utah or something.

Oh cmon man! Cornell is definitely a more prestigious institution, I would pick it over NYMC if I applied and got in, but to say that NYMC is gonna land you in Utah is ridonkulous, if not rigoddamndiculous. Here's a list of the more competitive specialties that NYMC students matched into for 2007:

Orthopedics (3):
NY Med. Coll. - West. Co. Med. C New York Med. Coll.
Univ. of Chicago Hospitals Chicago-Pritzker - IL
Yale Univ Sch of Med Yale - CT

ENT (3):
Montefiore/Einstein Affil. Hosps Einstein - (Yeshiva) │
New York Eye and Ear Infirmary New York Med. Coll.
SUNY HSC Brooklyn-NY S.U.N.Y. - H.S.C.

Neurosurgery (2):
Loyola University Med. Center Stritch - Loyola - IL
Univ. Hosp. of Cleveland Case Western Reserve

Opthalmology (3):
Univ of California - San Diego
NYMC Brooklyn & Queens
U Miami/Bascom Palmer

Urology (1):
Univ. of CA-Irvine Medical Cente California - Irvine

Gas (11):
UC San Francisco-CA
Mt Sinai Hospital-NY
SUNY HSC Brooklyn-NY
U Washington Affil Hosps
Brigham & Womens Hosp-MA
Westchester Med Ctr-NY
Stanford Univ Progs-CA
UMDNJ, New Jersey Med. Anesthesiology
U Maryland Med Ctr
U Southern California
Wayne State Univ./Detroit Med. C

Diagnostic Radiology - 21
Dartmouth-Hitchcock Med Ctr-N
Stony Brook Teach Hosps-NY
Maricopa Med Ctr-AZ
Beth Israel Med Ctr-NY
Westchester Med Ctr-NY
UC Davis Med Ctr-Sac-CA
U Southern California
N Shore U-Manhasset-NY
Harlem Hospital Ctr-NY
Westchester Med Ctr-NY
Long Island Coll Hosp-NY
Santa Barbara Cottage Hosp-CA
U Washington Affil Hosps
Cedars-Sinai Medical Center
U Southern California
Westchester Med Ctr-NY
U Michigan Hosps-Ann Arbor
Norwalk Hospital-CT
Stony Brook Teach Hosps-NY
Albany Med Ctr Hosp-NY


Radiation Oncology - 1
Loyola Univ Med Ctr-IL

Dermatology (1):
Einstein/Montefiore Med Ctr-N

Looks like a lot more UC and NY hospitals than Utah to me 😀

I still vote for Cornell, but I think the general consensus is that no matter where you go, if you do well, you will get the specialty you want where you want it.

 

[melast]

Call Cornell, tell them you are torn because of the amazing offer NYMC made, but that you love their school... or write them a letter to the say effect (including a copy of the scholarship letter). See what their FA can do for you.

and yeah, go to Cornell.

 

[Doctor~Detroit]

Call Cornell, tell them you are torn because of the amazing offer NYMC made, but that you love their school... or write them a letter to the say effect (including a copy of the scholarship letter). See what their FA can do for you.

and yeah, go to Cornell.

their aid is strictly need- and formula-based. they won't budge, at least according to the dean and website.

 

[sirus_virus]

I hope SDN lasts long enough for us to get back together on the residency forum and discuss how stupid it was to spend a whole bunch of extra cash chasing name-brand schools. OP feel free to pay more for Cornell, I am sure when sallie mae is kicking you in the nuts for their money, you can always console yourself with the fact that you attended a "cool" school.

 

[PennStatMan11]

hi

 

[ruefr]

hey all, trying to make some decisions here --
cornell definitely has a lot of advantages: resources, location, international opportunities, name/rep, just to name a few...
at cornell i'm looking at around $45,000 in loans each year.
at nymc, with $20,000 off tuition, i'm looking at around $30,000 a year in loans.
total difference over 4 years: somewhere between $50,000 - $80,000.
what do y'all think??


-monkeydoc

nymc's released financial packages already?

 

[stixx]

If it were a full ride I'd say nymc with a heart beat...hell ANY med school for free would be a no-brainer...but it looks like you're still going to be paying a ridiculously high tuition at nymc anyway, so just go with which school you like the most.

 

[Robizzle]

nymc's released financial packages already?

Nah I think these are the scholarships that NYMC gives to its really competitive applicants to sway em over their way. I heard that these students receive the scholarship WITH their acceptance packets.

 

[pyrois]

Oh cmon man! Cornell is definitely a more prestigious institution, I would pick it over NYMC if I applied and got in, but to say that NYMC is gonna land you in Utah is ridonkulous, if not rigoddamndiculous. Here's a list of the more competitive specialties that NYMC students matched into for 2007:

Clearly you didn't realize I was being sarcastic😛

 

[pyrois]

Ditto. Try to find anyone over the age of thirty that talks about "prestige". Really, the reputation of your alma mater will matter less and less as the years roll by.

If I was deadset on neurosurgery, I'd go Cornell. If I was looking at being a pcp and I thought I'd enjoy NYMC, I'd go NYMC.

Nothing matters except where you're most recently from. If you came from "crappy university" for undergrad, but went to Harvard for med school, nobody cares about your undergrad. If you came from Harvard undergrad but went to "crap U" for medical school, nobody cares that you went to Harvard.

But to purposefully choose Harvard over "Crap U" for undergrad is downright foolish.

Point being, you always should aim for the place that offers the best future opportunity. If the person who went to Crap U for med school from Harvard undergrad had chosen to go to Crap U for undergrad, he may not have been accepted to an MD school at all.

 

[deleted103644]

Haha, I'll decrease your NYMC tuition by another $100 if you open up the spot for me at Cornell. j/k 😛

 

[boyz of 4d]

Being a current 2nd year at NYMC my advice is this forget about the money and go where you like the most. I had the choice between going to other schools for less (state schools) or NYMC and chose NYMC, and I don't regret it. Remember that in med school, you're going to work your ass off and be stressed regardless of where you go, so the last thing you want is to be stressed/working hard and unhappy. If you liked Cornell better, go there, if you liked NYMC better come here. By getting into cornell med it shows that you're obviously smart enough to work hard and match a good program at any medical school.

Doctor detroit - your posts truly show ignorance. Have you even looked at the NYMC match list (probably not, you're one of the cool pre meds who bases all their decisions on what others say)? I'm not trying to say NYMC is better than Cornell, because it obviously isn't, but to say we dont match competitive specialties in normal areas is a pretty ridiculous statement. That being said, even if you do go to an ivy league school, and perform poorly on your boards (not everyone at cornell gets 250 on the boards), you're not going to match well. Please at least try to think about what you write before you post because it appears that you should be smart due to your prestigious acceptances, but maybe you're one of those people who is only study smart and lack common sense???

To the OP, if you have any specific questions, feel free to PM me, we're in exam time so it might take time to respond, but I'll get back to you when I can. Best of luck with your decision.

 

[Doctor~Detroit]

Doctor detroit - your posts truly show ignorance. Have you even looked at the NYMC match list (probably not, you're one of the cool pre meds who bases all their decisions on what others say)? I'm not trying to say NYMC is better than Cornell, because it obviously isn't, but to say we dont match competitive specialties in normal areas is a pretty ridiculous statement. That being said, even if you do go to an ivy league school, and perform poorly on your boards (not everyone at cornell gets 250 on the boards), you're not going to match well. Please at least try to think about what you write before you post because it appears that you should be smart due to your prestigious acceptances, but maybe you're one of those people who is only study smart and lack common sense???

whoa, buddy. i did *not* say "we [nymc] dont match competitive specialties in normal areas." please show me where this was stated by me. in fact, instead of being one of these people who post "cornell" as if it's a no-brainer, i stated that even if the op wants to do a competitive specialty they should think very hard about the money they'd be giving up to go to cornell. i absolutely agree that individual performance is essential and can take you to any residency, but if you're going to tell me nymc provides the same advantages for competitive specialties as cornell then you're the one being ridiculous.

 

[hopefulM.D.]

go to friggin Cornell! Or, I'll force you to go there yourself. It's like should I choose an Aston Martin Vanquish or a Hyundai/Honda Civic with some options? Sure, they both drive, and get you from point a to point b, but what would you choose? Seriously...common sense here fellas. 😀

 

[boyz of 4d]

Heres where I back track really quickly, It was Pyrois who said that, I guess I looked to fast at the user name (guess I should pay closer attentnion), I am sorry for that.

and to respond to your statement, obviously cornell has an advantage on competitive specialities, the point of my post was good grades anywhere can land prestigious specialties, and that going to a competitive school does not guarantee an automatic match into derm or whatever like some kids think.