<p>It’s not that the scholarships will decrease - it’s that the cost of attendance will go up. As long as GPA is up there (in the 3’s) the aid should stay about the same BUT when you factor in an increase, the money they give you does not go quite as far toward meeting your need…</p>
<p>I was accepted ED1 for Stern this year and I tried calling the financial aid office today to ask for more financial aid, but no luck. They told me that I had the maximum amount of grants/scholarships, which i don’t believe is true because i had a friend who received a 43k Stern scholarship, while I only received a 10k Stern scholarship (and 2 other 4-5k Stern scholarships). Has anyone tried calling them? Any luck? Also, the lady I spoke too on the phone told me that there is no appeal process. I think she was lying…</p>
<p>If my family makes $100k+ does that mean that I am unlikely to get any scholarship/aid money?</p>
<p>My family makes under $35,000. I received $37,110 in CAS scholarship, $4,000 in Pell grant, and $3,000 in work study. The rest of the financial aid package is $17,850 in loans. </p>
<p>My parents aren’t eligible for the $9,950 PLUS loan that we were offered. I have two questions for you guys:</p>
<ol>
<li><p>How much loan money am I, as the student, allowed to take under my name?</p></li>
<li><p>Should I ask for more scholarship/grant money to make up for the $9,950 PLUS loan?</p></li>
</ol>
<p>Thank you! :)</p>
<p>If I apply (and receive) outside scholarships from my school/city/etc does my financial aid amount get reduced? That may be a stupid question but I have no idea how any of this works…</p>
<p>Dreamer2012 - yes, I think NYU accepts outside scholarships. So that will go towards your financial aid package. I don’t know if your NYU scholarship money is then reduced, or if it’s just your loan money. Hopefully the latter. Does anyone know for sure?</p>
<p>i believe outside scholarships can apply toward your EFC. If you had more outside scholarships than your EFC, then it would come off your other aid.</p>
<p>I get that because my EFC is 0 but I’m wondering is will it take off the loans or the grants? Obviously I want it to reduce the amount of loans and I’d hate to be penalized for getting a scholarship :P</p>
<p>avocadolover, you cannot afford NYU. Full stop, look at your cheaper options now.</p>
<p>If your parents are denied a PLUS loan, you can borrow more Staffords - but you would be terribly ill-advised to do so. You have no concept of the amount of debt you’re talking about taking on - nearly $80,000 for a four-year degree. Have you looked at an interest calculator or a loan repayment estimator? Your payments would likely be around $1,000 a month for the next 10 years. That is debt that can never be cancelled, will follow you forever and weigh your life down for a decade or more.</p>
<p>Think about it this way: if you got a job making $50,000 per year right out of college, about 1/3 of your after-tax income would go toward paying loans. Forget a nice car or fancy house - you’ll be paying for college.</p>
<p>I should add that you cannot borrow $17,000 a year in Stafford loans, even if your parents are denied PLUS loans.</p>
<p>The limits are:
Freshman: $9,500
Sophomore: $10,500
Junior: $12,500
Senior: $12,500</p>
<p>That’s it, that’s all you can borrow without co-signers who agree to take on that full debt if you can’t pay it off.</p>
<p>When do we have to accept/decline our financial aid package?</p>
<p>I got accepted just a week ago and Im getting a full scholarship plus stipend, books and travel expenses. But this is because Im going to go to NYU Abu Dhabi who are really generous with their scholarships and grants.</p>