NYU vs Mt. Sinai! --- please help! I am so torn!

[bf]

I guess I should be as frank as possible about my dilemma... I hope I don't come across as being mean to NYU or Mt. Sinai students... So, I am trying to decide between Mt. Sinai and NYU. I have a feeling that NYU has a better reputation than Mt. Sinai in terms of academics and among residency directors, and I feel NYU may be a better fit for me than Mt. Sinai, although Sinai is a wonderful school as well. And the fact that NYU students do very well in residencies, especially those in the specialties, is quite important to me because I am thinking (but not yet committed to, of course) about going into dermatology, which is a very competitive area to get into.

So the problem lies in the financial aid situation. After a round of appeals, NYU is offering me a final package of $5000 in grant and $38,000 in a combination of subsidized and unsubsidized loan. So that will amount to about $160,000 of principal amount by the time I graduate... Mt. Sinai offered me a package of $25,000 in grant and $17,500 in all subsidized loan. I guess that would leave me in about a $70,000 in debt. I guess you can see where my dilemma stems from. Do you think going to Mt. Sinai over NYU would put me at a significant disadvantage in getting into a competitive field such as dermatology? Do you know anyone who were also in this situation?? I need to make a decision pretty soon, and I am completely torn. I was wondering what you honestly think about this situation. I think that perhaps some of you will probably have a better idea about how much or little financial burden can affect the quality of life during and after medical school. I would really appreciate if you can lend me some insight. Thank you very much!

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[kiddiedoc]

Reply for some reason is not posting here! It got posted instead in some thread called "9:59 pm"

 

[Annette]

1) both schools are good, but NYU fits better.

2)NYU will leave you ~2x times in debt than Sinai. The debt at Sinai is <1/2 the national average.

3)Derm pays quite well.

=>NYU. (but then I am over my head in debt already! ) Seriously, NYU offers what you want, and you are most comfortable there (which alone can be worth the cost).

 

[Popoy]

dermatology pays well, as Annette has stated.... debt shouldn't be a factor.... I say go for NYU if NYU does well in specialties, as you have stated.

Choose quickly, as other are still waiting in the waitlist. I'm sure they are all hoping for you to pick one already and move on.

 

[Neurogirl]

NO! Go to Mt Sinai! $70,000 vs $160,000 is a no brainer. Believe me (I'm a MS-IV, graduating in 2 wks) getting your desired residency will be much more dependent upon your board scores, class rank and letters of rec. than on the school you attended, besides, they're both great schools! You should choose the one that's giving you the better tuition deal. Also, remember that we're not just talking about principle but, more importantly, the interest you'll accrue during residency and repayment. I'm finishing with a dept load of $200,000 and if I take the 10 yr repayment plan my monthly payments will be nearly $3000!!!!! That's right, if I take the 10 yr plan, fully 1/3 of the money out my pocket will, in the end, go to interest. Now of course I won't take the 10 yr plan, but lots of people do. Instead I plan on living like a pauper for my first 3-4 yrs out of residency so that I can get my loans paid off quickly.

People who say debt shouldn't be an issue, probably haven't done the math. Also, after you've been a student for another 4 yrs, then an indentured servant for 4-5 yrs, you won't be nearly so cavalier about that kind of debt. When I was a premed, I NEVER worried about the debt. However, now that the creditors are knocking on my door (I'm in the process of setting up my deferments) I think about it ALOT more! Just my 2 cents.

 

[Annette]

Neurogirl, of course you are right about debt. But, it is important to be comfortable where you attend med school. A friend chose a school with cheaper tuition over a school where she felt comfortable. After a lot of psychological trauma she transfered after her second year (not an easy feat). If everything is pointing to one school, except a cheaper rate at another school, debt shouldn't be an over-riding factor.

 

[DrWBD]

A (minor) factor to consider might also be the quality of life at both schools...I spent some time at NYU Med while I was a grad student. The surrounding area is not the greatest, and the housing at the med school is atrocious considering how much the students pay for it.

 

[WingZero]

I agree with Neurogirl completely. This would have been a harder choice if it was between like Harvard and a lesser known state school, where the difference in reputation is more "tangible", but in this case, the schools are so comparable one could easily make a case for either school as having a better reputation. The two schools are neck in neck in the USNews rankings (Mt. Sinai #23, NYU #24) so I think the huge financial difference should be overriding in this case. To echo wanna_be_do's comments, I too was not impressed with the NYU environment and facilities - Mt. Sinai seemed more modern and when I was there, it seemed like the students were really well taken care of by the administration/faculty.

 

[Mikado]

MS is in a really dull part of the city. NYU is closer to some life.

 

[caffeinegirl]

I thought NYU was in a duller part of the city compared to Sinai (the med school is not where the undergrad is for NYU)
My personal opinion was for Mount Sinai. The curriculum looked great, the facilities looked great, and the housing offered was spectacular

 

[Mikado]

Caffeinegirl I know where NYU med is. I said that it's CLOSER to some life (i.e. Downtown)

Mount Sinai's neighbourhood is lightyears from anywhere worth being. The uppereastside is kind of expensive for anyone on a budget. Everything there is designed for the local gizillionaire population. So unless your name is Rockefeller there's not much to do.

Neighbourhood aside the schools are pretty much the same. They have actually even merged into one corporation, though nominally they are remaining seperate.

 

[caffeinegirl]

Now I got confused Mikado!
Sorry again...too late at night (or early in the morning) to think straight...
must need some sleep!

 

[Future Surgeon]

A couple of thoughts ... have you contacted the schools and asked to see their match lists over the past 4-5 years? If both places have people matching into good Derm programs, you should be fine at either place.

The thing that is absolutely crucial to Derm, no matter WHERE you end up, is getting involved in research EARLY on (I'm talking year 1 of med school). One huge reason you do this is to make connections with bigshots in derm -- get to know them, etc. and come match time, that will grease the wheels.

If you were to do this at EITHER place, you would be totally fine. The only thing is, NYU has more research than Mt. Sinai(in general - I'm not speaking directly to derm) so it may give you an edge that way.

The best person to ask would be someone who matched in Derm this year from either place. They could give you all the inside scoop, and they would most likely give you their honest opinion about the 2 places. If they're pretty much equal, you can feel comfortable going to the place that has offered the better financial aid package.

 

[droliver]

Debt issues aside....

In general you would be better of @ an institution like NYU for being competative for something like derm. The suggestion for research is crucial during your tenure to "position" yourself for one of these spots. This is assuming you excell during med school & make AOA,etc...