Exactly how bad is the FA situtation at NYU?

<p>I am looking to see if i can go to NYU and want to see how i could afford it. btw i am from a single parent home.</p>

<p>A lot of people don't get enough free money to afford NYU - they're given loans instead, and they decide they don't want to borrow that much to attend. A lucky few get big scholarships - enough to be able to afford NYU. It's a crapshoot. No one can reliably predict how much you'll get, so the only way to find out is to apply and see.</p>

<p>There is hope. NYU is changing how they are giving FA. In an email from the president in May or June, stated that they were going to eliminate a lot of their merit aid and increase their aid to need based. So I will be anxious to see how this pans out for next year. My D did not get much aid there for the upcoming year.</p>

<p>k.....well hopefully finacial aid will be helpful enough to allow me to attend if i get accepted</p>

<p>bigbomb, there's really no way for anyone to predict this without knowing detailed financial info for your family. One thing is a given, NYU does not guarantee to meet 100% of need, and is usually not even close. Secondly, usually a good portion of the financial need package is in loans which you will have to repay. </p>

<p>milkandsugar, NYU's merit aid has always had a large need component to it. Even the largest merit scholarships considered the financial need of the students to whom they were awarded.</p>

<p>Alwaysamom, I have to disagree with you, I know of 3 students who are top of the game with SAT scores, EC, GPA's and they got full rides with stipends and their families had very high EFC's of 37,000, 51,000, etc. NYU has always seemed to court those that they want with large scholarships and those with need, get way less. I think that is why they are changing theri game plan for the future.</p>

<p>Holy crap they got stipends?! Wow!</p>

<p>milkandsugar, there is no such thing as a full ride at NYU. The largest scholarship award is $26,000 and very few students get that amount. If a financial aid package covers the entire cost of a student's year at NYU, which is in excess of $50,000, you can be sure that a large portion of it is in loans. The only students who would receive any type of actual stipend (not workstudy) would be graduate students. If you've attended an information session at the school, when the issue of financial aid comes up, it is always made crystal clear that 100% of need is not guaranteed to be met. It has always been this way at NYU. We attended our first info session two years before my D started at NYU in 2003. One of her roommates worked in the financial aid office for two years while there, and this is policy. This is what prospective and accepted students are told. The average financial aid award at NYU is approximately $20,000. Unless something has changed for this year, merit aid always has a need component to it, which means that the FAFSA must have been completed.</p>

<p>It is probably possible to get a "full ride" if you commute.</p>

<p>alwaysamom, I work with a physician whose daughter got a full ride and stipend from NYU, all scholarships and grants. She did not attend and went to Princeton.</p>

<p>There is another poster on these threads whose son got 2 15,000 scholarships totalling 30,000. So I,m not so sure about the largest only being 26,000.</p>

<p>FA sucks. I got a PLUS loan which I chose not to take. To save money, I'm commuting rather than dorming, which I'm fine with since I'll only be at NYU freshman year.</p>

<p>I think my son is who you are referring to in a post above</p>

<p>My son had 2 15K scholarships in his freshman year, Trustees and Petrie Scholarship. This year he has a 30K CAS scholarship. Different name, same amount of money, WHEW!</p>

<p>OTOH, I will be paying NYU every cent of my EFC of just over 11K and will be giving my son money for food (he's opting out of a meal plan), so my out of pocket will be close to 15K. And he's got 2400 in Perkins and 4500 in Subsidized stafford loans.</p>

<p>And I consider us Lucky because I can pay my share out of savings (living like a pauper for 15+ years). FWIW, my AGI was just over 50K for this year and another 10K in retirement that the fafsa adds back in.</p>

<p>My son is from a single parent home as well (never met his father), He had a 2250 combined SAT score and he made the Dean's list his first year at NYU (just got the card last week)</p>

<p>Congratulations sueinphilly. My D will be starting in the fall. We are fortunate as well. It is her dream school. She got 12,000 CAS scholarship 2400 perkins and 3500 SUB stafford, the rest we will be paying out of savings.
I'm really glad now that we put that money away.</p>

<p>Good luck to your D. If I can be of any help, just ask.</p>

<p>sueinphilly, thank you. I'm sure things will pop up as the school year approaches.</p>

<p>wow it almost feels like only the well-off financially can afford NYU</p>

<p><a href="http://www.nyu.edu/public.affairs/pdf/SFC-Response_NYU.pdf%5B/url%5D"&gt;http://www.nyu.edu/public.affairs/pdf/SFC-Response_NYU.pdf&lt;/a&gt;&lt;/p>

<p>this is based on data a couple of years old, but it states that 17% of NYU students are Pell Grant recipients. </p>

<p>I don't consider myself 'well-off'. I drive a 17 year old car and lived below my means every day for many many years to save money to send my son to college. Kids need to realize that you don't get to bring home your gross salary. I literally net 50% of gross, never brought home to spend more than 35K (I do put money into retirement so I could increase take home pay if I wanted to, but no one is going to leave me an inheritance and on the odd chance I live until retirement age, I don't want to be poor then)</p>

<p>I'm sure NYU or any college is a struggle for people grossing 20-30K</p>

<p>
[quote]
There is another poster on these threads whose son got 2 15,000 scholarships totalling 30,000. So I,m not so sure about the largest only being 26,000.

[/quote]
</p>

<p>milkandsugar, the $26,000 is the single largest scholarship (which apparently has now been increased this year to $30,000). It's only available, I believe, to CAS students. There are other smaller scholarships and grants which may sometimes be awarded, as those were to Sue's son. You can see even with Sue's financial situation, her son did not get a 'full ride'. He still will graduate with loans. This is the norm, and his debt will be substantially lower than most. </p>

<p>In all the years I've been familiar with NYU, I have never heard of any student receiving a full ride. Neither has a friend who used to be an Associate Dean. My daughter knew many students while she was at NYU who were not only top students, but from very disadvantaged backgrounds. They all graduated with substantial debt. If the girl you know did, indeed, receive what her parents told you, she would be unique in the history of NYU! </p>

<p>bigbomb, NYU is tough to afford, for many. Unfortunately, too many kids fall in love with it and expect great financial aid packages, and it just doesn't happen often enough to prevent them from being in huge debt upon graduation. Many, I'm guessing, will live to regret their willingness to go into debt for NYU.</p>

<p>Alwaysamom, I totally get what you are saying. My D did not get anywhere near our Financial Need. She is receiving 48% of need with a scholarship. The rest we are paying with savings and loans. A 30,000 scholarship with an EFC of 12,000 is meeting 75% of need. The thing about NYU is that they don't seem to have a formula that is equitable. D originally got a 10,000 scholarship, but with her calling and pleading her case, they bumped it to 2000 more. As for my colleague whose daughter was offered a full ride, he is swearing by it. BTW, as it turned out, she went to Princeton and became a Fullbright Scholar. She is in Med School now. So it is quite possible NYU saw her potential and offered her everything. So that is all I can say about that. I cannot vouch for the truthfullness of the full ride with stipend, but he is a trustworthy person. I have no reason to doubt him. IIWII.</p>