I went to NYU. I credit it with developing a lot of the skills that have gotten me to where I am today. This comes with a very clear understanding that my degree, while not directly related to what I do for a living, is still hugely useful in my day-to-day life.
I have a substantial amount of debt; most college kids do, anyhow. I credit NYU with giving me the opportunity to leave rural Pennsylvania and helping me into a salary bracket five times higher than my parents ever were in. For me, the cost of 3 years (after scholarships) bought this opportunity.
NYU isn't a "luxurious four year vacation." It's one of the higher ranked schools in America. It has professors who are leaders in their fields. It is rigorous and challenging.
As someone who went to college in a small college town (a 3-college town, even) with no semblance of events, museums, and non-academic "intellectual stuff" to be found anywhere... Wut.
I'd have killed, even as an engineering major, to have access to all of the above. I'd have killed to balance out 4 years of mindlessly pounding of head against books with some semblance of creativity and culture.
I left college culturally stunted and have spent a lot of time crawling out of that dark hole, I wish it upon no one else. It's an endemic problem in our field to belittle the arts, or to regard the total abandonment of the arts as some sort of ascetic virtue. To be clear, there should be no pride in spending 4 years of your life in an academic dungeon and eschewing museums, music, and "intellectual stuff".
Throwing would-be engineers into an arena where there are constantly exposed to non-engineering things and non-engineering people is probably the best thing you can do to engineering education.
I am not from a rich family. No one in my family earned a college degree before me and they immigrated to the States with little to nothing. They were smart enough to start saving early for my education so I wouldn't have to pay a dime, but despite that, I still have loans. Thankfully I'm well on my way to paying them off, and early, because of the skills and the network I think I could have only built at NYU and NYC at large. I have the job I have because I went to NYU.
It's true that this is not the ideal place to become a hermit and focus on maximizing your GPA. I argue that higher education is far more involved than your studies - it's about exposing yourself to new experiences, honing your social senses and building a strong network, among other soft skills that are not summarized by your transcript. There are few better places in the world to do so than in NYC and specifically within NYU as a college student.
Lastly, going through NYU was not a vacation. I was very aware - as well as everyone else I knew was as well - that NYU was a ridiculously expensive place to be going to: nearly a quarter of a million dollars for an education with everything accounted for. If I screwed this up, all that money would be wasted, so study up. Not only that, study up, but resist the weakness to indulge in the "distractions" of the city and let your grades suffer.
In short, to say that NYU students are all rich kids is overgeneralizing, to think that studying in college is your one priority is myopic, and to call an NYU experience a "vacation" is just insulting. Have a little faith.
My younger brother just graduated from NYU Stern undergraduate and he says the experiences he's had were invaluable. School was not easy by any means, he was encouraged to travel and experience business in other parts of the world, was heavily involved in student government and the community, and is going to start a job here in NYC. He might not have been able to have such a rewarding 4 years had he gone elsewhere.
He pulled loans and will be paying them back, too. And he thinks it's still worth it. And I agree.
Eh... Maybe at the undergraduate level. NYU has some extremely strong graduate programs and surely most grad students there are not rich vacationers.
NYU's Courant Institute is the top ranked applied math program in the States...
http://grad-schools.usnews.rankingsandreviews.com/best-gradu...
I happened to receive a very generous grant to attend to offset my tuition. So do many others.
If you go to a $50,000 per year university for four years in the most expensive area of the most expensive city in the country and come out surprised by all the student debt you have, then you're an idiot and your degree should be withdrawn.
Shame on the federal government for providing easy credit for those wanting a luxurious four year vacation.