<p>When I filled out FAFSA this year, I received an expected contribution of 0, which was very good news as at most I will receive perhaps $5,000 from my parents. However all the schools to which I applied gave me aid and merit scholarships totalling far below the full cost of attendance ($33,000/53,000 for Tulane, $28,000/50,000 for Fordham, usw.). I plan to attend the University of Georgia, my in-state safety, as I cannot come near affording any of the other schools.</p>
<p>After two years in state, I was hoping to transfer to a school which is a better fit financially/academically/socially (Ideally NYU). So I was wondering, how exactly does one go about affording schools when they are in my position? Is taking on massive loans and debt (Which I do not want to do for undergrad) really the only way to go?</p>
<p>it depends on the school. NYU is VERY expensive, esp for EFC 0 people. yes, a FEW will get admitted with a package that has virtually all cost covered by grants/scholarships and minimal loans. But very very few and that is for the top prospect.</p>
<p>I would check with any school you are considering (esp NYU) on how they consider aid for transfer students. BTW, the COA for NYU is pretty much over 54K this year. Another 2 years from now, it will be more… NOT WORTH GOING INTO DEBT FOR. </p>
<p>my son is a sophomore there and it’s difficult with an EFC of 12K and he’s got a 30K scholarship and stafford and perkins loans and I still pay at least 12K out of pocket</p>
<p>You start by choosing schools that meet 100% of need. NYU is not among them. Get great grades, the schools that meet needs are generally the top ones.</p>
<p>So are you saying that by making good grades for a couple years I may be offered more financial aid based on my college performance than that I would/will receive now? Has anyone on here done so?</p>
<p>You will need good greades to get into most of the schools that meet 100% of need. These are schools where when you have an EFC of zero, you will get a package that will meet your full need with a combination of Federal/state grants, grants from the college itself, work study and moderate loans at some. Some have no student loans at all.</p>
<p>These schools tend to be the top colleges with high endowments (rich schools). They are in general the only schools with very generous aid and the best possible financial deal for the low income student. For a good example, go onto the Harvard web site and read about their financial aid policies. while their deal is by far the best, it will give you and idea of how this works.</p>
<p>EFC=0 students really only benefit from full-need schools. Unfortunately I know of very few schools that are full-need (or need-blind) for transfers.</p>