Deleted
Joined: May 14, 2024 3:52:17 GMT -5
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Post by Deleted on Apr 19, 2017 20:16:09 GMT -5
Is this all it cost to get a bachelor's degree from a University in NY? If that is the case I would just get the education and stay in NY if feasible. If not, let them convert it to a loan. This sounds like peanuts compared to what we see people posting as student loans. Maybe I am missing something. That's the tuition. You still have to pay for room and board. That's still crazy low. Tuition and fees in LCOL midwest is double to triple that.
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teen persuasion
Senior Member
Joined: Dec 20, 2010 21:58:49 GMT -5
Posts: 4,053
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Post by teen persuasion on Apr 19, 2017 21:44:24 GMT -5
Is this all it cost to get a bachelor's degree from a University in NY? If that is the case I would just get the education and stay in NY if feasible. If not, let them convert it to a loan. This sounds like peanuts compared to what we see people posting as student loans. Maybe I am missing something. The governor's only planning on covering tuition. SUNY tuition is only about $6k, fees are another $3k (when the state refuses to increase tuition, they increase fees instead), add in R&B and cost is more like $22k. There's a lot of loopholes in this plan. It will cover tuition AFTER other fed and state aid is applied. So if you get TAP and PELL, this won't add any aid. You have to take 30 credits a year, and finish in 4 years - that's nearly impossible currently at SUNYs, because they are notorious for not having enough seats in courses you need to graduate on time. Increasing enrollment (private colleges are worried about students shifting to SUNY) won't improve graduation times. The grade requirements, and the residency rule already mentioned. Come on, this is NY we're talking about - they don't truly give anything away for free. It sounds good in theory, but in practice I believe very few people will clear all the hurdles to qualify. A few years back Cuomo had another brilliant NY plan to help new grads pay back student loans. Just as DS2 graduated, it was announced. He was excited about it; I looked into the details. You had to live in NY, graduate from a NY college, have attended HS in NY, and have a job in NY immediately after graduating. Your income (AGI?) had to be below a threshold ($30k ?). You had to sign up for IBR. NY would pay the interest portion of your IBR payment, for the first 24 months after graduating (loan payments don't begin for roughly 6 months). I did the math - you would have less than $50/month interest, if you were *just* under the threshold; more likely you qualified for $0 from NY. DS2 jumped thru all the hoops, and never heard another word.
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