Just got accepted to NYU via ED1 and realized the financial aid package was not that great.
I think it was the home valuation that made the Financial Aid much lower. The home is 50% owned by my parents and 50% owned by my grandparents. We just filled out the entire home value as my parents.
Do you think if I call NYU Financial Aid and explain my situation, will that lead to bigger need-based aid? Does anybody have similar experiences or knowledge?
Hi
Congrats on the acceptance.
How far off is it from what their NPC computes based on similar data? Run it both ways and see what the difference is.
NYU has never had great financial aid, but they now say they meet need. It is based on their calculations of your need though.
You will need to make changes in both your FAFSA and CSS applications and then contact your colleges you have sent them to.
NYU will have an official process for appealing the financial aid. Additional documents may need to be submitted clarifying homeownership.
Do you have other affordable options if this does not work out? Rerun the NPCs and see where you are in terms of what your family can afford.
@Pathnottaken the FAFSA does not take any data about primary home ownership.
To change the Profile, the student needs to contact NYU to find out how NYU wants this change to be made. And NYU will want clear documentation that this is true.
Contact the financial aid office ASAP. At this point, you may find that these offices are closed at least for the long holiday weekend. You need to explain your mistake, and find out what needs to be done to correct it.
And I will add…it might not just be the home equity…it could be other things in your financial aid application.
Congratulations on your acceptance!
As others have said, contact the financial aid office at NYU ASAP. You may not hear back until after the new year, since it sounds like administrative offices are closed until January 3, but it cannot hurt to reach out and leave a message, and then follow up first thing January 3 if you do not hear back before then.
https://www.nyu.edu/students/student-information-and-resources/winter-break-guide.html