Mt. Sinai finances

[Radioflyer]

Are any prospective Mt. Sinai students nervous about the School's financial problems?

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[Scooby Doo]

Yes....I want to see if it affects how much money they'll give me

j/k...but yea...that's something that I am worried about...I don't want to get shorted b/c of that!

 

[Radioflyer]

Yeah, I am still waiting for my financial aid package. How long ago did you send in your fafsa, Scoobs?

 

[JulianCrane]

What are these financial problems that you guys are talking about? I'm thinking about applying there.

 

[Radioflyer]

Basically, Sinai has been in financial trouble for a while. I may have the numbers slightly wrong but they are in debt to the tune of around $500 million. They merged with NYU in part to help cushion the debt but the merger isn't really working out. Also, unlike NYU which actually made a profit, Sinai lost about 27 million last year. Because of this, they are increasing their tuition drastically (although it is still less or at least equivalent to private school tuitions)

 

[Daredevil]

Mount Sinai has just cut a number of employees in an effort to shore up its finances. After years of mismanagement and overspending, the hospital has to pay for its overindulgence. This means that many of the janitorial staff, security personnel,etc have been laid off just a few weeks ago. This is probably good for the long run.. I suppose.

 

[Taty]

My relative works there he said that it looks like situation going to be better next year.

 

[E'01]

Does anyone know what the breakdown of this year's budget is? Like how much is tuition, room & board, supplies etc. All I know is that the overall budger is like $4000 higher than the number they gave out at the interview on the finanaical aid sheet

 

[vinsanity]

e'01, I recieved a letter the other day from sinai that indicates how much tuition will be. Tuition has been raised to around 28,500 and the budget is around 46,000. Sorry I can't you exact number I'm not at home right now.

 

[E'01]

Ooopsies I forgot about that letter. Thanks Vinsanity. Btw, where in China are you going? Will you be working there or just traveling? Thats so cool!

 

[bebe2]

Wait, I am confused. E'01 did the new budget say 50,000 or 46,000? The sheet I received at the interview said 46,000. This may have been re-vised since I interviewed mid-march.

 

[E'01]

•••quote:•••Originally posted by bebe2:
•Wait, I am confused. E'01 did the new budget say 50,000 or 46,000? The sheet I received at the interview said 46,000. This may have been re-vised since I interviewed mid-march.

•••••Sorry for the confusion. My interview was on January 30th and the handout said that the overall budget was something like $41,000. The new budget is 46,000 - you are right. But remember that Sinai is increasing their tuition each year, so I'm not surprised if it does go up to $50K next year.

 

[vinsanity]

e'01, just going to be traveling around for a month and a half in china.

 

[bruno 00]

I wouldn't sweaat the tuition thing too much. tuition is only going up by $2,000 next year (about the same amount as most schools). and the dean has told students that next year's increase should be even lower than that. plus, they are boosting financial aid at the same time to cover the losses. as for the hospital's finances, prettty much all hospitals lose money (and lots of it). however, a hospital's mission is to care for patients and conduct research so making money is not their first priority. if they wanted to turn a profit they could, but instead they've chosen to invest their earnings into building new labs and caring for underserved patients.