what is justification for paying 300K to study in NYU?

[Hysteria24]

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Just for debates sake, I’ll start…

On a $400k loan you will be paying about $2600 per month for 30 years. So realistically you are talking about making $1300-1600 dollars less per month. If you make $150,000 net and pay 40% in taxes than you are talking a net salary of $90,000 per year or $7,500 per month. So realistically what you are talking about is the difference of netting $6,200 per month vs. around $5,000.

According to many here, $150,000 right out of school seems high with a more realistic figure around $110,000. If that were true, suddenly that $5,000/month ($60,000/year) take home pay you mention turns into $3,000/month ($36,000/year). That’s a big difference!!!!!

$110,000 – (40% for taxes) = $66,000
$66,000 – (12 monthly loan payments of $2,500) = $36,000

For exampe, instead of being an associate for 2-3 years, you may choose to be an associate for 5-6 years to pay down your debt faster.

This would eliminate student loan debt faster in the short term, but wouldn’t taking on more debt by taking on ownership increase your earning potential and be the quickest rout to eliminating total debt?

You may have to buy a $250k house instead of a $400k house.

Bering from CA, both of those house prices are bargains. I doubt anything close to NYC is that low as well.

 

[nothen2do]

If this means experiencing a city like NYC for four years of dental school, than NYU is perfect for you.

Cheers,

Bob

I'd say go to a cheaper school and then live in NYC when you're making money.

 

[PorkChop2008]

I work for a dentist in a single dentist practice, I've worked there for almost 5 years now. On our worst year in my 5 years, the dr has made atleast 400k NET. Keeping everything in perspective, many people who make 40k/year go out and buy a 30k vehicle, where are the threads that bash these folks? LMAO.

It's all about perspective. If you're going into dentistry just because of the money, then you've probably picked the wrong profession. Managing your office is going to be much harder than any of you with no real dental experience realize. It should serve as a clue that dentistry isn't as easy as most people think because dentists have the highest suicide rate out of ANY profession.

If you don't like how much the school costs, then don't apply there. Yes, it's that simple. Also, NYU isn't the most expensive school to attend so it's even more ironic that the school is continually singled out.

PorkChop2008 -- "NYU Class of 2012" --AKA "Broke Arse Mo-Fo until I die because I chose NYU!" 😀

 

[Montserrat]

Bering from CA, both of those house prices are bargains. I doubt anything close to NYC is that low as well.

Where I currently live, that amount of money is a huge lot of land and pretty darn nice house to call home.

 

[Hysteria24]

I work for a dentist in a single dentist practice, I've worked there for almost 5 years now. On our worst year in my 5 years, the dr has made atleast 400k NET.

That is the light at the end of the tunnel. Not what one should expect right after of graduation.

It should serve as a clue that dentistry isn't as easy as most people think because dentists have the highest suicide rate out of ANY profession.

Not this again… Do the research please.

Also, NYU isn't the most expensive school to attend so it's even more ironic that the school is continually singled out.

Ummm… name one. I know USC rivals it for total cost of all 4 years, but there aren’t many in this league as far as expenses go.

 

[Hysteria24]

Where I currently live, that amount of money is a huge lot of land and pretty darn nice house to call home.

The median single family house price in CA for Dec 07 = $475,460. For the San Francisco Bay Area try $724,800 on for size.
http://www.car.org/index.php?id=MzgyNTA=

I guess its time to move. 🙁

 

[PorkChop2008]

Not this again… Do the research please.

We could go on all day about this, so I'll start:

http://wiki.answers.com/Q/Which_profession_has_highest_suicide_rate

Ummm… name one. I know USC rivals it for total cost of all 4 years, but there aren’t many in this league as far as expenses go.

Just off the top of my head, yes USC and Indiana if you remain on out-of-state tuition as I would have to.

 

[nothen2do]

We could go on all day about this, so I'll start:

http://wiki.answers.com/Q/Which_profession_has_highest_suicide_rate

Nice link, is that an Evidence based research answer?

 

[PorkChop2008]

Nice link, is that an Evidence based research answer?

I don't know, I just know it supports what I wrote so I put the link up!

 

[Danny0230]

We could go on all day about this, so I'll start:

http://wiki.answers.com/Q/Which_profession_has_highest_suicide_rate




Just off the top of my head, yes USC and Indiana if you remain on out-of-state tuition as I would have to.

USC, maybe, but it you don't have anywhere near the same cost of living in Indiana as you would in NY

 

[PorkChop2008]

USC, maybe, but it you don't have anywhere near the same cost of living in Indiana as you would in NY

From Indiana's website:

Estimated Living Expenses for 12 Months Single Student $29,118
$2,426.00 per month A Professional Judgment Form, available at www.iupui.edu/finaid, may be used to request additional qualifying living expenses.
Health insurance is mandatory. This will be an additional cost beyond what is listed above.

Here is the link: http://www.iusd.iupui.edu/Depts/SA/DDStuition.aspx

 

[Hysteria24]

I'm not here to argue back and forth, but I don't want people to be mislead, and spread false information.

NYU isn't the most expensive school to attend

Just off the top of my head, yes USC and Indiana if you remain on out-of-state tuition as I would have to.

Great… so we've named 2 others out of 56 schools that may rival it for expenses. You still have a long ways to go. And remember, you can't look at just tuition. Living expenses and equipment fees add up.

We could go on all day about this, so I'll start:

http://wiki.answers.com/Q/Which_profession_has_highest_suicide_rate

You did not just use this as support did you?

 

[Bob81575]

In my post I was not assuming $150,000 right out of school is reasonable. But within a few years it should be attainable particularly if you are charging $3000-5000 per patient for invisalign. But even if we take your more realistic figure of $110,000 and you subtract $30,000 from your gross income to arrive at $80,000 before taxes, this places you in the top quintile of incomes in the US as a starting point (http://en.wikipedia.org/wiki/Income_quintiles). The point I am trying to make is you can still attend NYU and live very comfortably without having a spouse with a second income or beng a great dentist. So yes, you are right there is a huge difference between $150k and $110k but the point is moot because you will still be doing well by US living standards.

Bob

 

[stdmufin27]

I’m not here to argue back and forth, but I don’t want people to be mislead, and spread false information.

Come on brotha. There are plenty of schools that are going to squash you with out of state tuition. You can add Tufts, Louisville (can't get residency) and Penn to this list. Just because a school is a smidge below the tuition powerhouses doesn't make them cheap. Tufts/Louisville = about 80 large x 4 = 320,000 big boys. Its just part of the deal we have to go through with if we don't get into a state school.

 

[Blando]

best reason to spend 300k at nyu. you'll become a dentist 🙂 you can always take a military scholarship.

 

[Hysteria24]

In my post I was not assuming $150,000 right out of school is reasonable. But within a few years it should be attainable particularly if you are charging $3000-5000 per patient for invisalign. But even if we take your more realistic figure of $110,000 and you subtract $30,000 from your gross income to arrive at $80,000 before taxes, this places you in the top quintile of incomes in the US as a starting point (http://en.wikipedia.org/wiki/Income_quintiles). The point I am trying to make is you can still attend NYU and live very comfortably without having a spouse with a second income or beng a great dentist. So yes, you are right there is a huge difference between $150k and $110k but the point is moot because you will still be doing well by US living standards.

Bob

I guess your right… and I’m glad

I’ll only add that the salary will be taxed before loans are paid, which will make the total just a tad lower.

Articles like this make it seem like it will be ramen for dinner every night:
http://www.dentalcompare.com/featuredarticle.asp?articleid=108

 

[PorkChop2008]

Ummm… name one. I know USC rivals it for total cost of all 4 years, but there aren’t many in this league as far as expenses go.

You said Name "one", I named two.

Great… so we’ve named 2 others out of 56 schools that may rival it for expenses. You still have a long ways to go. And remember, you can’t look at just tuition. Living expenses and equipment fees add up.

Huh? A long way to go? I already named one, which is all you asked.

Not this again… Do the research please.

I provided a link to my research. (http://wiki.answers.com/Q/Which_prof...t_suicide_rate)

You did not just use this as support did you?

Now you question my research without any of your own?

I’m not here to argue back and forth, but I don’t want people to be mislead, and spread false information.

I see. Your definition of "false information" is anything you don't agree with? Clearly you're not here to argue back and forth. Clearly.

 

[Hysteria24]

OK… Dental school is expensive, and from what I can find, NYU is #2 on that list. Do I think that is a bad thing? No, but it gets its bad wrap as pork chop mentioned because it is at the top. I’m with you guys, because I will probably end up at the #1 most expensive school, and willingly choose to do so.

As far as the suicide thing goes, there have been many threads on these boards about that. Using WikiAnswers as a source does not count. Try doing that on a research paper and see what the professor says.

Notice the disclaimer at the bottom of the site:
“No Guarantee of Validity
The contents of all material available on Answers.comTM, WikiAnswersTM and AnswerTipsTM and other related services (collectively, the "Services") of Answers Corporation ("Answers") are intended to provide useful information for its users.

While Answers makes every effort to present accurate and reliable information in its Services, Answers does not endorse, approve, or certify such information, nor does it guarantee the accuracy, completeness, efficacy, timeliness, or correct sequencing of such information.”

Try citing things form scientific journals or something reputable.
http://jada.ada.org/cgi/content/abstract/132/6/786
http://occmed.oxfordjournals.org/cg...nd&searchid=1&FIRSTINDEX=0&resourcetype=HWCIT

 

[PorkChop2008]

OK… Dental school is expensive, and from what I can find, NYU is #2 on that list. Do I think that is a bad thing? No, but it gets its bad wrap as pork chop mentioned because it is at the top. I’m with you guys, because I will probably end up at the #1 most expensive school, and willingly choose to do so.

As far as the suicide thing goes, there have been many threads on these boards about that. Using WikiAnswers as a source does not count. Try doing that on a research paper and see what the professor says.

Notice the disclaimer at the bottom of the site:
“No Guarantee of Validity
The contents of all material available on Answers.comTM, WikiAnswersTM and AnswerTipsTM and other related services (collectively, the "Services") of Answers Corporation ("Answers") are intended to provide useful information for its users.

While Answers makes every effort to present accurate and reliable information in its Services, Answers does not endorse, approve, or certify such information, nor does it guarantee the accuracy, completeness, efficacy, timeliness, or correct sequencing of such information.”

Try citing things form scientific journals or something reputable.
http://jada.ada.org/cgi/content/abstract/132/6/786
http://occmed.oxfordjournals.org/cg...nd&searchid=1&FIRSTINDEX=0&resourcetype=HWCIT

Well said.

 

[musl85]

Just to add to this thread, living in NYC does not have to be so expensive. Be smart and live in the surrounding boroughs and commute. The $30,000 estimation for rent is if you choose to live in Manhatten. Also find a roomate and suddenly those living expenses wont be so bad 🙂

 

[jigabodo]

Hey Jigabodo, i noticed that we interviewed at NYU at the same time! Perhaps we talked? I was the crazy guy with the camera...

I remember you!

We did talk. You have glasses right?