Hey! NYU is my #1 choice and if I were to be admitted, I would definitely want to go. The ONLY thing holding me back would be money. I know NYU has a rep for being quite stingy. So, if I were to be accepted ED2 but did not get enough financial aid, can I back out? If so, how difficult is it to do & wil it affect my RD schools (I don’t care about them, but I would if I can’t pay for NYU). And finally, if I don’t get much scholarships or aid to NYU, how do their loans work? Can anyone get them? Do they need to be under my parents name or can it be under me? Do I pay interest on them? My parents are very weary of taking out loans but I believe this is the school of my dreams and I want to follow my dreams. I will also work my ass off to look for third party scholarships upon acceptance anyways since I am also a NHRP finalist. But anyways, any insight you could give me about ED2 would be suuuuper helpful. Thanks!
Your parents are tired of taking out loans? Does that mean they have a lot of debt now? They are crazy if they take loans to get you and them further buried in debt, it will be years and years of unhappiness to follow. As a student you can take on only freshman 5,500. After 4 years you would owe 27k. For some reason students like you just can’t imagine what it is really like to pay debt or the power of compounding interest, you want everything now with no understanding of consequences, like a little child.
Oh do not ED2 because you will likely have to reject the offer without comparing it to other schools or knowing if you got outside scholarships first.