Hi guys, so I’m in a little bit of an interesting situation. I’ve been accepted to a few schools, but as of right now I am picking between NYU and Belmont University. Yes, I know they are dramatically different, but I am also dramatically indecisive. So basically, Belmont has offered me 8,000 a year (10,000 is their max) for merit aid, 20,000 for financial aid, and a work study opportunity. Total, including the pell grant, I have about a 36,000$ offer. NYU, on the other hand, has offered me over 50,000 dollars in merit aid and financial aid! (more than 20,000$ more than their average) Although they have given me such a huge offer, their total cost of attendance falls at around 72,000 which, even with the money, I cannot afford. 
On the bright side, I love Belmont! It’s beautiful and much cheaper, so there’s that. The only thing is, as I’m paying for my education on my own, I would like to decrease my debt as much as possible, and if I go to Belmont I’ll still be leaving with an upwards of 18,000$ in debt. Considering NYU is much more prestigious, selective, and academically competitive, if I mention my large scholarship from there to Belmont, would it be possible to get more aid? Or would that be taboo? I’ve heard rumors since my early high school career that informing colleges of other offers is a sure way to increase aid, but I’m not sure if that was just a rumor. I’m sorry I’m so clueless, I’m kinda figuring this college thing out on my own.
Is the $18,000 in debt the student Direct Loan? Or is that an additional loan.
Can you afford the net cost at Belmont. I’m very unclear what that is from your post. Remember, work study money must be earned…and you won’t have it to pay your fall bill. Usually work study money is used for student expenses, and books…not tuition, fees, room, board.
So…how much is Belmont expecting you to pay per year.
I would say about 5,000-10,000 a year. I was offered 5,500 in direct loans and the rest I’ll have to figure out.
Figure it out…how? You won’t be able to take loans in that amount. You will need a co-signer. Can someone do that for you?
I do hope it works out…but $10,000 is a lot to cover.
From what I’ve heard NYU doesn’t care about other schools fin aid offers. There are tons of students on reddit/nyu posting such questions and info.
Don’t take more debt, go to the school you can afford the most.
Figure it out? What does that mean?
There is no financial aid fairy. So leaving Belmont, you’ll have 18K in loans, AND you still have a gap of 10K per year- so over four years, you’ve got to find an additional 40K?
You need to start at the beginning. We don’t care how much you’ve been offered in aid- what matters is what’s left to pay (by you) and if you can afford that. Can you walk us through your other options?
I don’t think NYU cares about Belmont’s offer, and I don’t think you can afford Belmont unless your parents can swing the 10K per year gap you’ve got.
I have a good deal of money saved, plus I plan to get an on-campus job. I can get a co-signer if I really need to, but I’d like to avoid it.
I’m actually curious about the other way around- would Belmont consider giving me more since NYU accepted me into one of their most competitive classes+ gave me a bunch of money? Should I at least ask? Would that be inappropriate?
I’m asking if Belmont would consider NYU’s scholarship. NYU gave me more than Belmont. I understand that there is no “financial aid fairy”, but the rest of the money is something I’m dealing without outside of this individual issue. I will likely have to take out loans, and that’s why my goal is to get as much money as I can from Belmont.
What is Belmont’s annual cost of attendance?
It looks like you’re getting $36k from them, including a fed student loan.
You can politely contact Belmont and say that you’d love to attend, but your family can’t afford it.
I dont’ think mentioning NYU’s program will help since that school would be more costly for you.
Blossom: There is no financial aid fairy, lol best line I’ve heard in long time
I was hoping to buy a Mercedes CLS which has a list price of $71,000, I told the dealer that Toyota was giving me a nice discount on the $35,000 Camry which I couldn’t afford either. I wonder if the Mercedes dealer will feel bad for me and give me a bigger discount?
2019-2020 Tuition and Fees $35,650
2019-2020 Room and Board $12,520
Total Cost for 2019-2020 $48,170
The above does not include: books, personal expenses, health insurance or travel. So you may need to add about $6000 to the above…for a total of about $54k (this will increase each year).
What is your home state?
Who would be your qualified cosigner?
How much do you have saved?
There’s absolutely no reason to be condescending and rude to me. I apologized in advance that I am very unfamiliar with the college admissions process and if I had any idea of what I was doing, I wouldn’t ask. I have absent parents and attend a boarding school with no advising, in addition to only recently deciding to seek higher education due to circumstances out of my control. Additionally, its the other way around. I received more money from NYU.
Cost of attendance is 30,000, but I need to consider the 6,000 for room and board and any other additional fees. Since their highest merit scholarship is 10,000 I was asking if it would be appropriate to mention the large, partially-merit-based scholarship I received from NYU in order to maybe get an additional 2,000 a year from Belmont. This is also taking into account that they are a smaller university and I have overly competitive scores + credentials for the school.
???
Belmonts cost of attendance is about $55k per year
To everyone mentioning how much I will owe Belmont- I understand. No matter what I will have debt, I understand that. I was very specific in that I’m trying to decrease it as much as possible.
I’m talking specifically about tuition. Tuition is about 16,000 a semester.
I live in Texas and have connections so I can drive back and forth on holidays. I can have my mother cosign if needed. I have more than 10,000 saved, although I don’t know the exact amount at the moment.
I was talking about Cost of Attendance…which is the annual cost.
And room and board isn’t $6k, it’s over $12k.
So that everyone’s on the same page, stick with annual numbers.
We’re trying to help you decrease. Look at my #9 post.
Who is your qualified cosigner? And will they cosign and QUALIFY for all 4 years?
On the paperwork they sent me for 2019 prices, it’s around 6,000 for the cheapest housing options- which I will definitely be choosing. My mother will be my cosigner and I believe she will. Thank you for the advice, I will definitely contact them.