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Mt. Sinai finances

Discussion in 'Pre-Medical - MD' started by Radioflyer, Apr 23, 2002.

  1. Radioflyer

    Radioflyer Member 7+ Year Member

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    Apr 3, 2002
    New York, New York
    Are any prospective Mt. Sinai students nervous about the School's financial problems?
     
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  3. Scooby Doo

    Scooby Doo IEatShavedPussyCats 10+ Year Member

    3,797
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    Jul 9, 2001
    City
    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!
     
  4. Radioflyer

    Radioflyer Member 7+ Year Member

    26
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    Apr 3, 2002
    New York, New York
    Yeah, I am still waiting for my financial aid package. How long ago did you send in your fafsa, Scoobs?
     
  5. JulianCrane

    JulianCrane The Power of Intention 10+ Year Member

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    Dec 22, 2001
    What are these financial problems that you guys are talking about? I'm thinking about applying there.
     
  6. Radioflyer

    Radioflyer Member 7+ Year Member

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    Apr 3, 2002
    New York, New York
    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)
     
  7. Daredevil

    Daredevil Senior Member 10+ Year Member

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    Jul 28, 2001
    NY
    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.
     
  8. Taty

    Taty Senior Member 10+ Year Member

    1,001
    12
    Mar 5, 2002
    New York
    My relative works there he said that it looks like situation going to be better next year.
     
  9. E'01

    E'01 1K Member 7+ Year Member

    1,216
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    Jun 26, 2001
    NY
    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
     
  10. vinsanity

    vinsanity Senior Member 7+ Year Member

    294
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    Dec 17, 2001
    Puerto Rico
    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.
     
  11. E'01

    E'01 1K Member 7+ Year Member

    1,216
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    Jun 26, 2001
    NY
    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!
     
  12. bebe2

    bebe2 Senior Member 7+ Year Member

    207
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    Jan 6, 2002
    Marlyand
    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.

    :confused:
     
  13. E'01

    E'01 1K Member 7+ Year Member

    1,216
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    Jun 26, 2001
    NY
    </font><blockquote><font size="1" face="Verdana, Helvetica, sans-serif">quote:</font><hr /><font size="2" face="Verdana, Helvetica, sans-serif">Originally posted by bebe2:
    <strong>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.

    :confused: </strong></font><hr /></blockquote><font size="2" face="Verdana, Helvetica, sans-serif">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.
     
  14. vinsanity

    vinsanity Senior Member 7+ Year Member

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    Dec 17, 2001
    Puerto Rico
    e'01, just going to be traveling around for a month and a half in china.
     
  15. bruno 00

    bruno 00 Junior Member 7+ Year Member

    10
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    Feb 13, 2002
    providence
    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.
     

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