Admitted by NYU but no grant or scholarship, can I negotiate or appeal?

Paying for College
1

<p>I was just admitted by NYU (Stern school of business) on ED1, but they didn't give my any grant or scholarship aid, but all in loans:</p>

<p>Award Description Category Offered Accepted
Early Decision Unsub Loan 5,500.00 0.00
Early Decision PLUS Loan 56,880.00 0.00</p>

<p>I was pretty surprised because I thought my stats were good enough:
GPA: 4.08 (w)
SAT: 2360, SAT II math: 800
School fencing team captain</p>

<p>Another college in NJ is offering me a full-ride scholarship (verbal promise) if I apply.</p>

<p>Can I still negotiate with NYU for some non-loan aid? Can I use the above offer? </p>

<p>Thanks in advance for all hints and advice.</p>

2

<p>

It depends. How bad do you think NYU wants you?</p>

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<p>NYU is not known for great aid. At all.
My best advice based on what I’ve learned as a parent of 2 bright, high-stat kids who does not qualify for need-based Financial Aid but who cannot afford 200k+ for each kid—focus on finding schools that will offer merit aid and where you will be challenged and happy and which your family can afford to pay for. </p>

<p>There are schools like that. You may have missed the boat on some that have early deadlines for merit consideration. But there are many still out there. </p>

<p>Put your energies toward finding a place that you are likely to be able to afford (also, if you are looking for suggestions here, let people know how much your family can afford/will contribute. I assume your family WILL contribute something to your education, as you must be fairly high-income to get zero grants.).</p>

<p>You are really in a lucky position, with your high stats. Your achievements will help you find many places that want you.</p>

4

<p>also, if you are determined to see if NYU might offer up something (and I doubt they will offer anything much)—look through threads on the NYU forum from this time last year, and spring of this year–see if anyone did successfully get adjustments of any size, and then take note of how they did so. </p>

<p>I didn’t check last year, but several years ago, reading those threads are what convinced my D that she might as well not even bother applying to NYU, as we could only contribute about $25-30k/year, but were not likely to qualify for need based aid.</p>

5

<p>You can ask, but you’re probably in a really weak position to negotiate from.</p>

<p>When you applied, did you apply for need-based financial aid? If so, then you can ask them whether they can do better with your aid package. But if they say no, then your only real options are to go to Stern and pay the full price, or to back out of your ED agreement because you haven’t been offered a workable financial aid package.</p>

<p>If you go, you and your family will be on the hook for paying the sticker price for as long as you’re there. Whether you pay it from current income and savings, or you pay it with borrowed money, make no mistake: you are paying it. And if you break the ED agreement, you won’t be going to NYU.</p>

<p>There could be a couple of reasons why NYU didn’t offer you any institutional aid. For one thing, they didn’t offer it to a lot of people; they are absolutely notorious for giving inadequate financial aid. For another thing, many colleges use scholarship offers to try to win over students who they think might choose to go elsewhere without them. When you applied to NYU Early Decision, you were signalling to them that they were your first choice, and that you’d go if you could afford it. So they didn’t have to try to buy your love; you already told them you loved them.</p>

<p>If you didn’t apply for need-based financial aid, you’re really kind of stuck here. You promised NYU that you’d go if you were admitted. The contingency about receiving adequate financial aid doesn’t apply if you didn’t seek aid in the first place. </p>

<p>Many colleges and universities notify other institutions which students they’ve accepted under Early Decision, and many colleges and universities will not accept students who’ve been accepted elsewhere under ED. If you try to back out of attending NYU without their releasing you from the ED agreement that you signed when you applied, you may find your options for attending other colleges are significantly limited.</p>

<p>But that is an absolutely worthless aid package. If your family can pay the full price of NYU, and you were just hoping for a little something to sweeten the pot, then you probably ought to go to NYU. If your family can’t pay the price of NYU, you should probably back out of the ED agreement and look to go elsewhere. But under no circumstances should you borrow that much money for a bachelor’s degree from NYU.</p>

<p>(x-post with paperplane)</p>

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<p>From the looks of things, you may also have had no financial need (especially since NYU now uses the profile). They probably think that your family can afford to pay for NYU(which is why you were offered no aid).</p>

<p>Remember for ED, in exchange for an early decision, if admitted you will attend. Did you run the net price calculator with your parents before you applied?</p>

<p>You really have no room to negotiate because you committed to attend (also a down side of applying ED; you don’t get to see what other schools have offered). My recommendation is that if your parents are not willing to pay/borrow for you to attend NYU, get released immediately so that you still have time to toss applications other places where you may possibly get $</p>

<p>x-posting with Sikorsky, who ITA with.</p>

7

<p>Did you understand the implications of applying ED? Did you read the commitment you signed? </p>

<p>From what you have written, you do not qualify for financial aid. Your family EFC is too high to get any subsidy on your Stafford loan. NYU has given you zero financial aid. </p>

<p>If your family cannot or will not pay for your NYU education, you need to tell NYU admissions and get released from your ED commitment. </p>

<p>You can then take your chances for aid elsewhere, but if you do not qualify for aid, you aren’t going to get it. Any awards will be in the form of merit scholarships.</p>

<p>Though you can certainly discuss any options for aid/scholarships with the NYU admissions officer, I doubt you are going to get much of anything. I don’t know anyone who has gotten large merit awards from NYU. With your stats, a full need met package with some merit sweetners might have been possible IF you qualified for some need, but it does not look like you do–not a dime.</p>

8

<p>I did specify that I want need-based financial aid during application, although I understand that I probably won’t qualify for need-based aid based on my parents income.</p>

<p>But I remembered that merit-based scholarship is combined in NYU’s package, which is what I really meant. As a matter of fact I just heard someone with similar financial situation as my family did get around $10K in the ED package (GPA is slightly higher than mine but SAT lower).</p>

<p>I really don’t know how badly they want me… or how can I tell?</p>

<p>My parents are willing to help, but not like 62K+ per year, they probably can contribute 25~30K. We are aware of the total cost of NYU, but were hoping I could get some sort of merit based money. Our best bet is to get something around $20K, and borrow for the rest.</p>

<p>I’ve been always interested in finance, business, etc, and have been preparing for it over my high school years. But I’m not sure now if I should carry a loan like $30K+, although I kept learning from people that Stern graduates get high employment rate and earn decent salary …</p>

9

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<p>You will not have to worry about carrying a 30K loan because no one is going to loan you that kind of money with out a cosigner (most likely your parents). You have already said that they were only willing (or can afford) to contribute 25-30K. Right now, NYU is not a financially feasible option for your family.</p>

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<p>They would have gave you some big merit $$ from the jump</p>

10

<p>You don’t know what other people’s financial situations specifically are unless you can see their aid application and what they have put down. Word of mouth and partial knowledge is worse than uselessll–it can be misleading. </p>

<p>You can find out how much NYU admissions wants you by spelling out your situation with the admissions director. You need to talk to him/her personally. You are not going to get financial aid out of the school if your family numbers do not qualify you. Merit is a whole other story, but I truly don’t know anyone who has gotten any sizeable merit award from NYU. Once you get a determination from NYU, you can move on–either go there and pay what they determine your cost to be, or withdraw your acceptance and look for other schools. With your stats, it is possible to get some good merti money. Since you don’t qualify for financial aid, and your EFC appears to be high, I doubt you will get financial aid anywhere. Those numbers might be stretched in borderline cases but they are not “spun”.</p>

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<p>I have a relative who got a full ride from NYU-- their top scholarship. She was a multilingual minority with a 4.0 uw gpa and high SATs (perfect score on the CR). She turned them down and went to an ivy.</p>

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<p>Merit aid is nearly nonexistent at NYU:</p>

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<p>I would guess the stats for the business school are even lower, since it is so highly prized.</p>

13

<p>Is the school offering you money in NJ, Princeton?
If yes, and you still prefer NYU, you may be able to let them know.
But if it is not a comparable school, it isn’t going to make much difference how much they offer you, because you didn’t apply ED to NYU to compare offers.</p>

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<p>Bob, that is even more than I expected NYU to give in terms of merit. The only merit ward that I know of that NYU itself gives is the Martin Luther King Scholarship which can go to those who do not qualify for financial aid as well as those who do. </p>

<p>I’ve lived in the NYC area for 15 years now and I don’t know anyone who got any merit money even up to the $6K amount, and those who did also qualified for financial aid. Interestingly, some did get more money than need prescribed with the merit. But I don’t know a soul who got pure merit in anything more than token amounts.</p>

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<p>*But I remembered that merit-based scholarship is combined in NYU’s package, which is what I really meant. As a matter of fact I just heard someone with similar financial situation as my family did get around $10K in the ED package (GPA is slightly higher than mine but SAT lower).</p>

<p>I really don’t know how badly they want me… or how can I tell?*</p>

<p>You can’t compare because things may be apples and oranges. That person may be a URM, may be from a state that has fewer applicants, may be in one of the NYU colleges that give more merit, may be in a desirable major, or something else.</p>

<p>Some of NYU’s colleges award some merit and some don’t. Stern gets LOTS of super-stat applicants, so you may not be that unique…especially if you’re from a nearby state. They may give their merit to those with need to help “meet need.”</p>

<p>You need to talk to your parents. YOU can’t borrow much. If your parents are willing to borrow and they are willing to pay the money back, that’s one thing. If they expect YOU to pay the debt back, that’s another.</p>

<p>You probably can’t use a “promised offer” since you don’t have a firm offer, but you can try. However if it’s from a lesser school, NYU won’t likely care much. </p>

<p>You applied ED, so that also may have hurt your merit chances.</p>

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<p>cptofthehouse, The relative I know was awarded a presidential scholarship which was NYU’s top scholarship. They may have qualified for some aid but, besides the top stats, they were the kid of an alum. (I say that because some schools have alumni scholarships although they’re usually in small amounts.) I don’t even see the presidential scholarship listed anymore.</p>

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<p>I know someone who got a presidential scholarship. I also know kids who got their best deal from NYU in terms of money. But every single one of them also qualified for financial aid. I don’t know any kids, who got pure merit money other than for a few thousand dollars. However, I do not not doubt Dad’s source. Apparently there are a number of kids, and 3% does come to a large number since NYU has a large student body that get pure merit money and if the AVERAGE amount is in the $6K range, that means some kids are likely getting a lot more than that. I don’t know anyone out of the hundreds of very high stats kids I know who got into NYU, some with near perfect SATs and grades who also got into HPY schools who got a sizeable pure merit award, not even $5K much less the average given.</p>

<p>I am wondering if NYU isn’t including the AbuDhabi campus where I have heard sweetners were being offered for those interested in going there. </p>

<p>Sybbie, do you know anyone who ever got a sizeable NYU merit only award? She, like I, live in the area and know literally hundreds of kids who have been accepted to NYU. If someone in our circles got a big fat merit scholalrship to NYU, we would have heard about it.</p>

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<p>Interesting that you don’t know any; I do know the one. The other person I know who got a large NYU award would have qualified through HEOP so she had a lot of financial need. (Her award wasn’t as generous because it required her to live at home. She went off to a top lac with full financial need met.) I do know hundreds of kids who’ve been accepted to NYU but I don’t have reason to know their financial aid packages.</p>

<p>OP, I think you need to get some applications in elsewhere quickly-- before it’s too late. You have nothing to lose by going back to NYU but they are unlikely to give you the $20-$30K you need. Do you have some other schools in mind? If not, talk to your guidance counselor right away and explain that, even though you’re ED, you can’t afford the school because they gave you no aid. Let him know you are trying to work with NYU but will also need to send other applications in anticipation of needing to apply elsewhere. Send an application to the school with the verbal offer but don’t make the same mistake. Be sure to send an application to some instate public schools; your parents contribution of $20K-$30K will probably cover all your costs there.</p>

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<p>I did not say I do not know anyone who got merit awards or generous financial aid. I don’t know a single person who got a sizeable PURE MERIT award with NO financial need. Neither do you, 2colegewego, if I am understanding your examples. To quote you, “they may have qualified for some aid”. The young man I know who got the presidental award, I know quite well, and he did qualify for aid, was not from the NYC area, was a recruited athlete and had top test scores and grades. He was a top candidate for many schools, and got all kinds of acceptances, but the NYU scholarship plus financial aid was full ride plus for him, and by far his best offer. That is where he went.</p>

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<p>Yes, I understand what you said but, frankly, I had to double check. :slight_smile: I did and the person told me that the only aid offered at an ivy was unsubbed loans-- so I guess that means no financial need. (Upper middle class family with more than one property and one parent owned a small business so it was hard for me to tell.) I do find it interesting. While I do know that NYU is very, very stingy, I didn’t realize that even their top scholarships are unlikely to go to anyone without need. And I agree with you: the kids who get that kind of $ at NYU are kids who get into the top schools. (The person I know was from the NYC area. I don’t know if that helped or hurt them.)</p>