<p>It’s OK to apply broadly, as long as she understands that matriculation is dependent on both acceptance and the FA package.</p>
<p>this is very important. Put in writing with your D how much you will spend and that any other costs must come from financial aid or merit scholarships (AND NOT FROM large loans). </p>
<p>Be very clear that you will not: 1) co-sign loans 2) borrow any money (or borrow over XX dollars). </p>
<p>Be clear that she must apply to a few financial safety schools (schools you know for sure will be affordable) in addition to any of those other schools. Some parents insist on a few “parent picks”…a couple of schools that their kids must apply to. </p>
<p>As long as the “ground rules” are clear and written down and agreed upon, things will go more smoothly.</p>
<p>Your D will be limited to borrowing the following amounts for student loans…</p>
<p>5500 frosh
6500 soph
7500 jr
7500 sr</p>
<p>Also, NYU is the poster child for horrible aid…it is not unusual for NYU to put a $30k Parent Plus loan in the FA package…expecting parents to borrow to borrow large amounts each year is just crazy. </p>
<p>Do you know how much you can afford to pay each year?</p>