Re:NYU Makes Tuition Free for All Medical Students
by NTDF9 on Thursday August 16, 2018 @05:04PM
(#17778406)
I have taken an education loan from a bank in another country. They literally only approved me for a maximum of $30,000 loan. Let me explain how that worked.
I had to pay first 15% from my account, they would pay the remaining 85%. Every semester, once I showed a receipt that I paid 15% to the university, that bank would wire the remaining 85% directly to that University.
What did this do to my decision making? I literally only chose universities for which I could afford the upfront 15% and the max of $30k. I chose this university even though I had admit from other universities which had higher tuition.
What impact does it have on universities? Universities with higher tuition start seeing a decline in enrollments. I got out with a max $30k debt, of which I paid 15% out of pocket already, per semester.
I could've dropped out of school and joined again a few years later but that loan would still be available to me for 7 years.
I had to pay first 15% from my account, they would pay the remaining 85%. Every semester, once I showed a receipt that I paid 15% to the university, that bank would wire the remaining 85% directly to that University.
What did this do to my decision making? I literally only chose universities for which I could afford the upfront 15% and the max of $30k. I chose this university even though I had admit from other universities which had higher tuition.
What impact does it have on universities? Universities with higher tuition start seeing a decline in enrollments. I got out with a max $30k debt, of which I paid 15% out of pocket already, per semester.
I could've dropped out of school and joined again a few years later but that loan would still be available to me for 7 years.