Hi, I’m new to this site so I’m sorry if there’s a better forum to put this under!
I am applying to NYU for Early Decisions, and while I understand that it is a binding commitment if I get accepted, I’m wondering the penalties if I choose not to attend. NYU is my dream school, but I live in a single-parent home, and money is tight. If I don’t receive the financial aid that I need and am unable to attend, what is going to happen?
I know chances are higher if I apply Early Decisions, which is why I’m doing so, but I am scared of being unable to afford it. Thank you for your help!
Note that the NPC is an estimate, not a guarantee. But if the NPC spits out a number that you and your parent deem unaffordable, then don’t apply to NYU. Because wishing and hoping that the actual FA will be better is a useless strategy.
Now, if you and your parent think that you can make it work after running the NPC but that actual FA is much less, then no, you are not obligated to attend,
@cale30 i called NYU the other day about this and they seem to be not too strict about ED being a binding commitment as long as you have a legitimate reason like not being able to afford it.
Every college (not just NYU) allows a student to get out of an ED commitment if finances don’t work. However, it is smart to run the net price calculator before applying ED. Reasons being:
–If the school is completely unaffordable, you might consider using your ED elsewhere.
–Applying ED puts you in the position of having to say saying yes or no to the ED offer before you hear from other schools. You forfeit the ability to compare financial offers among colleges. Before you give up the right to compare financial offers from a group of colleges it seems to me that it would be a good idea to get a sense of what to expect in terms of financial aid at NYU.