<p>This topic is directed more towards current NYU students and alumni....what is probably the best way to pay for NYU's $40,000 a year pricetag, my parents aren't exactly excited about taking out a 2nd and 3rd mortgage just to put me through my first few years of college (let alone grad school!)...what are the best kinds of loans to take out, and also...how generous is NYU with its financial aid packages?</p>
<p>Thanks!</p>
<p>I think the question should be rephrased to "how ungenerous is NYU with its financial aid packages?"
There is no generosity in NYU FA.</p>
<p>so what kind of students get given financial aid?</p>
<p>Count on lots of loans. I was lucky enough to get one of the biggest scholarships available at NYU and it still leaves about $15,000 a year that my family and I have to pay. And I'm one of the very lucky ones, trust me. I've heard lots of horror stories about bigtime gapping by NYU when it comes to aid. So yeah, count on big debt when you graduate.</p>
<p>i was given a 17,000 dollar package. It seems that they were very generous to the GSP kids.</p>
<p>Was that all need based aid? I wouldn't be getting any of that. This might seem like a ridiculous question, but is there any merit $ in GSP?</p>
<p>NYU is getting better every year with financial aid. One of President's Sexton's goals is to make the school more attractive to top non-wealthy students. NYU is doing tremendous fundraising, and a good portion of that money will go to recruiting the best students, regardless of their ability to pay. Certainly expect more merit scholarships and funds devoted to finaid in the coming years.</p>
<p>yes they do give out merit scholarships. I got this money based on need.</p>
<p>What stats would they base merit scholarships on in GSP? Or are they based on some need also--that is what I have found elsewhere - that all scholarships labled as merit are not totally merit based and require some financial need. I think that the truely middle class get killed on this stuff. My family could never pay the amount of our EFC.</p>
<p>GSP has very few merit scholarships...the aid in GSP is mostly all need based. If someone is getting a merit scholarship from NYU, they would normally be competitive enough to get into one of the regular schools and not GSP. It seems logical that GSP would have the least amount of merit money.</p>
<p>I do know some kids who have gotten merit scholarships at NYU and they have truly stellar academic profiles. The financial aid packages leave a lot to be desired. NYU may be working on providing a larger amount of demonstrated need, but as of now, they do gap big time.</p>
<p>thehotdamn, a $17,000 package is about the average. I wouldn't call that generous, though, when NYU costs with everything included are going to run you $45,000 or thereabouts. GSP students are not going to get merit scholarships. Those will go to the top 10-15% of accepted students.</p>
<p>actually, i did some research...the actual average amoutn of aid given per student is somewhere between 4,500 - 5000 per year...so 17000 is far above average</p>
<p>Were are you getting those numbers?</p>
<p>Also, those averages are very skewed. There are many people at NYU who don't even need financial aid at all, and there are others who need very little, like around a couple thousand.....so when you throw them into the mix, the average will be low.</p>
<p>bigred, not sure where you're doing your research but the numbers you have are wrong. Actually, the amount I quoted is low. The most recent figure is $18,145 for an average. If you attended an information session prior to applying you'd know that the average award has been in excess of $15,000 for a while now. When I attended on a couple of years ago, the figure was around $16,000. </p>
<p>These figures are given by the financial aid office to anyone who inquires. They're calculated for those who receive aid, not for those who do not. As it says there, nearly 3/4 of students now receive some financial aid.</p>
<p>oh God... I was hoping NYU would at least give me enough $$ so the price would be about the same is it would for me to go to PSU (about $20k)... I'm thinking thats a bit unrealistic now</p>
<p>At the briefing session I attended (my S applied to NYU), we were told that a little more than half the kids are on financial aid. Now that was last year. And about half those getting aid get the average amount of aid which was given as $18,586., with about 2/3 of that being grants. The rest is made up of loans and workstudy. About 12% of the kids are given merit awards, but the average amount of scholarship is $6500. Perhaps the budget has been increased this year. These numbers are in line with what USN&WR have for the 2003-04 school year, by the way. I know when we worked up the numbers for Tisch, the cost was over $50K as they charge a Performing arts surcharge. And if you want some leeway in a decent room, you can add another thousand to the room charge as well. My friend's daughter goes there and she says it is well over $50K a year.</p>
<p>I apologize for putting up misleading numbers...but I got them from an otherwise credible source....PrincetonReview.com has this under NYU:
Scholarships & Financial Aid
Tuition: $28,328
Undergraduate receiving need-based financial aid: 56%
Average freshman total gift aid: $4,359
Direct Lender: No</p>
<p>i got 20k scholarships for stern, and thats the highest non-loan finaincial aid ive heard of... 2/3 are from grants? ya right, nearly everybody i asked had almost all in loans, and only a few thousand, if any, in grants.</p>
<p>BiGReD - PrincetonReview.com is not a credible source. I'm sure you know that $28,328 is not the correct tuition. Here is the accurate information (excluding Tisch and Stern, which are slightly more and can be found on a different page): <a href="http://www.nyu.edu/financial.aid/tuitiongeneral.html%5B/url%5D">http://www.nyu.edu/financial.aid/tuitiongeneral.html</a></p>