Is the NY University Institute of French Studies renowned?

I’m a Luxembourgian student of 18 years and I’m currently in my last college year until I get my diploma and can go off to university. I love French literature, so at first I wanted to go to Paris, but as my boyfriend is really in love with NYC, I looked whether we could go there together and still follow our respective study choices (he’s a film student). I found that the NYU has an Institute for French studies, but now I’m wondering:

Will a diploma from the French Institue of the NYU have the same value as a diploma from a renowned French university (i.e. the Sorbonne in Paris) and will the difficulty of the treated study matter be at the same level as it would be in Paris? (I grew up with French as a second language and I wouldn’t want to take classes which start with French Grammar or something…).

I hope somebody here can help (with his own experience or something).