We’re happy to report that Ryan Durosky, the subject of our previous blog post entitled CNN High Price of College, wrote us back. Here’s what Ryan says:
I feel the need to defend myself with respect to the attacks made in this blog. First, I have no reason to make up the numbers. Here’s a breakdown for everyone who’s confused. 275K = 180K (4 yrs. tuition at NYU) + 35K (capitalized interest) + 60K (expected interest to accrue from 5 private loans with variable interest; some as high at time as 12%). Does that make sense now?
Yes, I had the opportunity to study abroad but it was the same tuition as that offered on the NYC campus so if people are going to start snooping around profiles they should also go the university site to see the actual costs. Fortunately, my grandmother footed the miscellaneous expenses related to that semester which were not very high. It was an amazing experience to study abroad. I would recommend it to any student.
Let me know if you have any more questions
Thank you Ryan for telling us your entire story. We appreciate you taking the time to write us back.
I feel that I now understand Ryan’s story in its entirety. I know how the $275K breaks down, thus I sympathize more with his plight. However, I do wish CNN would have included the break down in their report.
Yes, Ryan, I studied abroad as well for a semester and highly recommend it. Kudos to you for taking advantage of this opportunity. And kudos to a very generous grandmother.
We can learn a bit more from Ryan’s situation in his response. As we say here at WPC, do not take out private student loans if possible. If you must take out loans, stick with Stafford subsidized loans (first choice) and Stafford unsubsidized loans (second choice). Why? Because a Stafford loan has a 6.8 percent interest rate vs. private loan rates which are variable and can be up to double the Stafford percentage — as Ryan notes.
Also, no one has yet to bring up NYU’s record with awarding college financial aid to its students. In 2009, The Princeton Review rated NYU as the college where students are most dissatisfied with their financial aid.
So there you go, a fuller scope of Ryan’s story. To read Ryan’s story in full, please read his CNN commentary.
Ryan, if you read this, thank you for sharing, best of luck and please keep us posted on how you’re doing.
~ the WPC team
© White Picket College, 2010