<p>They gave me 20k CAS scholarship, which I'm grateful for, but it would still be 40k a year which is so much money. Did anyone ever appeal before?</p>
<p>Look at these previous two threads for some info on this topic:</p>
<p><a href=“Accepted - No Financial Aid... - New York University - College Confidential Forums”>Accepted - No Financial Aid... - New York University - College Confidential Forums;
<p><a href=“http://talk.collegeconfidential.com/new-york-university/1112348-thoughts-idea-regarding-financial-aid.html[/url]”>http://talk.collegeconfidential.com/new-york-university/1112348-thoughts-idea-regarding-financial-aid.html</a></p>
<p>NYU rarely grants appeals for FA.</p>
<p>I just received my daughter’s financial aid packet from NYU and were terribly surprised. They are offering her $21000 but the cost is $54,0282 just including tuition & room and board (no other college related expenses e.g health-insurance, books). To add insult to injury they offered her loans that amount roughly to $8000 and offered her a Federal PLUS loan of $26000! My gross adjusted income in 2010 was $18,000. I find it crazy that they would expect a parent to take out more money that they make in an entire year! She also was in the top 3% of her class… so confused by this offer… and its her dream school…</p>
<p>^@Sunny17</p>
<p>I completely understand your thoughts! Neither of my parents are receiving an income because my dad is unemployed and my mom is unable to work and they expected them to take out a loan of about the same amount. It’s absolutely devastating because this is my dream school that would offer me so many opportunities with my major.</p>
<p>People generally don’t seem to understand how NYU financial aid works. So to re-iterate: </p>
<p>(1) NYU DOES NOT meet full need. They are VERY stingy with funds, as our endowment is VERY small. And don’t quote it’s 2.3 billion! That’s so much money! Well, that has to keep NYU operational. If we look at an expenditure, how much does all that New York City real estate cost yearly? Professor salaries, other staff salaries? Providing for 43,000 students in the heart of one of the most expensive cities in the world, in one of the most expensive zip codes in New York, is VERY costly.</p>
<p>(2) NYU gives aid NOT on a need basis, but RATHER on a desirability basis. Most NYU financial aid comes in the form of scholarships, large scholarships are given to the students they want more, whereas smaller ones given to students they want less. Admissions ranks the desirability of students and the financial aid office allocates funds based on the rankings of the students. Typically students are ranked in tiers of desirability.</p>
<p>(3) There are of course exceptions to (2), wherein NYU will give larger amounts to people more in need. However, these usually occur within the same desirability ranking. E.g. a student in tier 1 (most desirable) with EFC $10,000, MAY get more than another student also in tier 1 with EFC $25,000.</p>
<p>*NYU DOES NOT meet full need. They are VERY stingy with funds, as our endowment is VERY small. And don’t quote it’s 2.3 billion! That’s so much money! Well, that has to keep NYU operational. *</p>
<p>???</p>
<p>$2.3 Billion is NOT a small endowment…it is a big endowment. And, all schools have expenditures so the ones you named are irrelevant.</p>
<p>@Mom2college
You don’t understand how small that endowment is for a school that’s the size of NYU. NYU has over 40,000 students, which makes it the largest private university in America. NYU doesn’t have the largest endowment in America. That title belongs to Harvard with a total of $27 billion.</p>
<p>The operational costs of the largest private university in the most expensive city in America is VERY costly, and NYU has been bankrupt twice in it’s history, so they’re very careful about not letting that happen for a third time. </p>
<p>If you’re comparing NYU’s FA with those of ivy leagues, they’re not even in the same league. Ivy leagues have endowments that are multiple times larger than NYU’s, and the size of student bodies are generally a third or even a fourth the size of NYU.</p>
<p>All colleges have expenditures. Yes, I know that. However, NYU is paying off all their properties, most of which are in the village (the third most expensive zip code in NYC), which means that each building is costing a fortune yearly. There are 43,000 students (which I realize a few schools have) however, most schools that are this size either have (1) state funding or (2) much larger endowments (e.g. UM). Compared to other top colleges, we have a small endowment. Compared to other top colleges, our expenses are most likely astronomical. Most other colleges in cities have already paid off their buildings. NYU has only just recently purchased all of their buildings, which are still being paid off. So yes, all the expenditures I listed are relevant. I would think everything that costs money would be relevant to an expenditure, since ya’ know… It’s an expenditure?</p>
<p>Absolutely not! NYU’s financial aid is very strict. It spends most of its money on building new buildings so it’s hard to appeal.</p>
<p>If you are an incoming freshman and want to appeal for more aid, they generally will give you 1000-2000 more, but that is usually it.</p>