<p>HI. I'm asking this question for a friend:</p>
<p>How generous is NYU really in terms of need-based aid?
Her family income is $20,000.</p>
<p>Anybody have experience with this? Thanks guys.</p>
<p>NYU does NOT have much money to give. They don’t guarantee to meet need. I’ve heard 2-4 ish people on here who claim “full ride” (or close to it), but I don’t know if that’s true. The COA is $55,000-$60,000 a year. I’ve heard several people who got as much as $25,000/year. Of those, it seemed it increased a bit each year to about $32,000 in the final year. The top scholarships that award this kind of money seem to mostly be “hybrid”…Top academics PLUS financial need. Either one alone doesn’t seem to do much. There are a few really good things like AnBryce. I just asked for more info on this. It’s awarded to 3 people, is HIGHLY competitive. It’s for first generation students with extreme need. Any chance OP is first generation, because they CERTAINLY have extreme need. I don’t know what they look at in terms of academics, I do think that plays a part. </p>
<p>But…in general…for purely need based aid…NYU is not a good option for your friend.</p>
<p>NO one gets a full ride at NYU. While some get better packages than others, NYU still expects their financial neediests to take out there share of federal loans, do Work Study and have parental contribution with PLUS loans,etc. They explicitly state that they do not meet full need. Princeton Review says they meet an average of 63% of need. We only receive 50% of need.</p>
<p>Thanks, she’s first generation, 4.0gpa, err 2010 SAT, tons of AP, Hispanic, overall a very competitive applicant with the exception of her SAT.</p>
<p>Does anybody know any NYU scholarships that might fit her?</p>
<p>Glenny:
Different schools within NYU give different scholarships. And some depend on where you’re from (NYC, etc.). BUT…I do not think there are ANY over $25,000. If your friend’s family’s annual income is $20,000…I do not think NYU is a smart choice. There are SOME things you can do to bring the cost down (or maybe she is within commuting distance, which makes this a very different story…because housing at $11,000-$15,000 is what is going to be the killer even if she got full tuition). </p>
<p>That said, look at NYU’s website. You will see University wide scholarships, which include AnBryce for extreme low income, highly qualified candidates (there are 3 given, but…again…it’s for TUITION only). Then look at the school. You’ll see CAS has Presidential Scholarships for UP TO nearly full tuition. Some schools have no scholarships of their own. Some schools are more competitive than others. Is she wanting to go into a talent based or academic school (i.e. - Tisch versus Stern)?</p>
<p>If she has to get housing, one can apply for “low cost triple” housing that is MUCH less, BUT I don’t know how they decide to whom they’ll assign this…it’s probably based on need as well. </p>
<p>At any rate…you don’t APPLY for any scholarships. Fill out the appliction, file FAFSA, and wait and hope. </p>
<p>Good luck.</p>
<p>Yuck. It’s a wonder how NYU receives so little endowment when it has so many achieved alumni. It would be nice to see a FA reformation moving from merit based to more need based packages (one can only hope). I’m also in a financially tight situation with an EFC of around 2500, so we’ll see soon enough first-hand what the package looks like for people in these cases. Realistically though, I see myself ending up in just another Midwest school (sigh…). Good luck to your friend.</p>
<p>Has your friend investigated scholarship options outside of NYU? If she is a city resident there are many options specifically for NYU to look into. If not, there are still many scholarship options out there. They’re not all significant sums, but if you get several they can add up.</p>
<p>She lives in Long Island. And absolutely does not want to live at home (she’s considering getting an apartment if she CAN get full tuition). I agree that NYU would not be a prudent choice, but one shouldn’t eliminate these things, esp. if she can find ways.
I’ll tell her about these (Presidential, AnBryce, etc). </p>
<p>I think she’s doing gallatin.</p>
<p>My one daughter is in the same boat. It’s tough, I know. My D also LOVES NYU, and we have…let’s just say a lot more money than OP has. But it is a personal decision whether or not one can actually AFFORD to go there. There are plenty of schools that pledge to meet your financial need. Unfortunately, NYU isn’t one of them, yet it’s one of the most expensive schools in the country. It’s not for everyone. But, my D did apply too. Hey, maybe we’ll win the lottery, right? You can’t know unless you applied, but then…it’s a disappointment to get in but not be able to afford it. Even if my D got the $25,000 (and she won’t), it woudl still be a VERY tough decision. Like yshino…my D will almost undoubtedly end up in the proverbial midwestern state school as well. BUT…there are a lot worse things. One thing I told my D, to help ease her pain. If we don’t have to pay NYU’s price…then we’ll have some money left to perhaps let her do some of their summer programs! Either in NYC or abroad. That’s something to look forward to! Or, get this free undergrad in state tuition then re-try NYU for grad school.</p>
<p>^So I guess the fact NYU gave me 120,000 even though I don’t really need any money from them is an anomaly?</p>
<p>120,000 for all 4 years, meaning 30,000 per year? What is your EFC? Hard to believe.</p>
<p>N-Pakistan: No, it’s that rare scholarship I spoke of. There are a few. So, SORT OF an anomaly, but a known quantity nonetheless. Example: I mentioned AnBryce for extremely low income first generation, which is up to full tuition. That would amount to about $32,000 x 4. That IS need based. As well, the $25,000 CAS Presidential looks to increase each year. Let’s say $25, $27, $30, $32 = $ 114,000. But it’s mostly merit based…I’ve definitely seen some at least a couple of “non-need” kids get it. But OP is asking about need based aid. I brought up the merit scholarships because OP hadn’t mentioned her friend’s stats; maybe he/she could qualify. BUT…$120,000 in aid unfortunately doesn’t help most of us. You got it without need, so the balance is easy for you to pay. But, for many of us, the remaining $120,000 is just too much. I’m assuming that to be true of the OP’s friend. Especially since in-state publics will cost around $80,000 for 4 years…and anyone who has merit will probably cut that in half…maybe to zero. That’s a really big difference. As well, SO much depends on the school within NYU. Getting into Stern is harder, so getting merit type aid there would be harder due to competition (I don’t know much about scholarships outside of CAS, each school is quite different). In Tisch, your “merit” scholarship will be talent. If you’re in Steinhardt, it takes lower stats to get their top scholarhips (though I think I heard their merit were eliminated or decreasing…but that’s heresay).</p>
<p>My EFC is about 5000, but my other family members are vastly more wealthy than us and told me they would have no trouble covering at least partial costs. ( I have a big family; it is one of the benefits.) However, my father is going into retirement, and I guess that is why NYU decided to give me so much money. I am lucky, no doubt. The fact I do not have a single loan on my name really makes me glad especially during these economic times where it is hard to find a low interest rate. Part of my package was a loan, which was about 10,000 dollars. So the other 35,000 I needed to come up every year is going to be covered by my uncle. ( I bought him an Armani watch and took him to the chinese buffet lol)</p>
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<p>It makes perfect sense to me. NYU is a great school but if you dance with the financial aid programs for too long it’s harder to feel generous about giving back to the school.</p>
<p>nuclear: If your EFC is $5000…then you DEFINITELY proved need. Are you saying you didn’t fill out FAFSA at all? Because, if you did, NYU is very aware of your income and need (relatives notwithstanding).</p>
<p>Nuclear, the numbers don’t add up. Scholarship 30,000. 35,000 from relative.==65,000
per yr. Tuition is 55,000. Am I missing something?</p>
<p>R124687, I believe he would not have gotten scholarship money or loan offer if he did not file FAFSA.</p>
<p>milkandsugar: I got 30 thousand from NYU of which 10K was a loan. I didn’t take the loan, and I am just having my relatives pay the rest. I applied knowing my relatives can carry my freight. It is very simple. But yeah, my parents don’t make a lot of money as our EFC is only 5000. Even if NYU didn’t give me this large scholarship, all I am saying is that I am covered.</p>
<p>Oh, that make more sense. You are VERY fortunate. You are going to have a blast there.</p>
<p>@NP, I think the discussion was focused on scholarships, not loans. The 25k is a scholarship. Loans and other things are different, I think it’s not uncommon to get a total financial aid package including loans for 30K.</p>
<p>Wow… so NYU really does have sucky fin aid. Thanks for the responses!</p>
<p>I don’t know what her EFC is, but it’s prob close to 0.</p>