<p>My EFC is 0. I plan on transferring to NYU for the fall and was wondering if there is any sort of calculator that will estimate the amount I will receive in federal aid, if I am eligible for the maximum amount are these numbers correct:</p>
<p>Pell: 4310
Stafford: 3500
Perkins: 4000
SEOG: 4000
NYS TAP: 5000</p>
<p>I can not take out loans (mother is on disability, 0 income and 0 assets, therefore not eligible for any private loans.) Am I correct in assuming I will be awarded all or the majority of the aid listed above, my EFC is 0, single parent of 5 with 3 children in college. Is there any calculator I can use that will give me a rough estimate of what may be available to me, prior to receiving my aid package from NYU. I am applying for jobs to pay off the difference, but if I will not be able to earn enough to pay the difference in aid I will not be able to attend. (P.S. I am a NYC resident and will be living with parent.) Any help is really appreciated. Thanks.</p>
<p>$3500 is the maximum Stafford loan for a dependent freshman student. You say you are transferring so I assume you are not a freshman. I was not quite sure if you are saying you are a single parent with 5 kids or if your Mom is the single parent. If you are the parent with 5 children you are independent. The loan limits for sophomores are $4,500/sophomore year, and $5,500 for each remaining year. Independent students can borrow an additional unsubsidized $4,000 the first two years and $5,000 the remaining years. If you are not the parent and are a dependent you may be able to borrow the additional Stafford if your parent applies for and is turned down for a parent plus. Finaid.org has more information on loans here
FinAid</a> | Student Loans</p>
<p>The Maximum Pell is $4731 for the 2008-2009 school year.</p>
<p>The maximum SEOG varies by school. At my daughter's school for instance it is $2,000. You would need to check with NYU what their maximum is.</p>
<p>Pell grant is a grant that you get what you are eligible for (eg if your EFC is 0 you will get the $4731).
SEOG is a grant where the school decides how to distribute it. It is a limited funds grant - that is the government gives the school only a certain amount of funds and they can run out.</p>
<p>There is no way of knowing for sure what aid you will get as much is up to the schools. Good luck.</p>
<p>What is your major? There is another grant for Pell eligible students who are 3rd & 4th year students doing specific majors (sciences, certain languages) - the SMART grant.</p>
<p>Good luck.</p>
<p>My major will be Management Information Systems. I am the son, my mother is single 0 income, 0 assets, and 2 other children in college full time. We would not be approved for any Plus loans or other loans requiring collateral or income. I am the student, I will be transferring as a upcoming sophomore (currently in freshman year.)</p>
<p>As a dependent sophomore you are eligible for $4500 subsidized loans (assuming need which it looks like you would have). If your Mom applies for and is turned down for a PLUS loan you should be eligible for and additional unsub Stafford of $4,000. She has to apply and be turned down for you to be eligible for the additional loan.</p>
<p>just an FYI -- NYU is notorious for poor financial aid. Don't expect your package to come even close to meeting your need, particularly for a transfer student. you will most likely be expected to come up with 30%-50% of the cost on your own (after stafford loans).</p>
<p>you might want to consider some other options.</p>
<p>Why don't you consider Baruch, you would be eligible for a free ride. Stern is a great school but if you can't afford it, I wouldn't recommend going into serious debt, it will affect your grades and cause a lot of unneeded stress. NYC has quite a few great schools, look at your other options.</p>