<p>My initial financial aid summary shows that NYU is offering me only $5,500 for the year. Someone told me I may get a fuller financial package in the future (since I was only recently notified of my acceptance), but I'm not sure if this is true. Further, I'm transferring into NYU Tisch with an A.S., but it may still take me up to three years to graduate. </p>
<p>Luckily, my father is in the Coast Guard and can apply the GI Bill to me, but this may not make that huge of a difference. A friend of mine who attends NYU and was previously in the military told me that the GI Bill only offers him $17,000 a year, which is barely enough to cover one semester. </p>
<p>I also have $27,000 saved in the bank for college.</p>
<p>Despite having all these financial advantages, the price tag of NYU still seems so large. If I attend Rutgers on NJ Stars II and the GI Bill, it'll be virtually free -- but a major in filmmaking will not be a possibility. </p>
<p>In short, I'm wondering if the price tag is worth it given the financial support I've acquired so far. In addition, I'm just wondering what you guys do to pay for NYU. Are there any notable scholarships I should focus on acquiring? Where can I find more information on going to NYU without acquiring truckloads of debt?</p>
<p>Thanks.</p>
<p>Loans…</p>
<p>The key questions are how much would you (and your parents?) owe in loans at graduation and how much do you project that you will be earning the first 3-5 years after graduation. You want to project paying your student loans in less than 8-10 years. If you can’t, then … sorry, but this school is not for you.</p>
<p>Are you saying that you dont know your FA award yet? Once you get that you will have a better idea.
17,000+5500(I assume these are stafford loan+9000(your savings over 3 yrs=31500 </p>
<p>Are you classified as a junior? You would be entitled to more stafford loans. You would need a little more info.</p>
<p>As far as I know, I will be classified as a junior. How do I find out about getting more Stafford loans? Right now, the financial aid summary says I didn’t receive any Stafford loans.</p>
<p>As a junior you are entitled to 5500 subsidized and 2000 unsubsidized making a total of 7500. You need to fill out the FAFSA form if you didn’t already. I would notify the school that you want the stafford loans. Assuming that you would finish in 2 years then you would have a total of approx 43,000 covered for tuition, room and board. Are your parents willing to contribute? you can still work and earn income to close the gap.</p>
<p>Fill out the FAFSA if you haven’t! You might be eligible for a Pell Grant/Perkins/Stafford/PLUS loan depending on your situation, but you will almost certainly get more money. Do you know if you received any kind of merit scholarship from NYU?</p>
<p>I did fill out the FAFSA. I was notified of my acceptance May 11, and since then I’ve only received notification on how to check my financial aid summary on the Albert site. And, as I said, that only shows $5,500 – that’s it. </p>
<p>Am I supposed to receive an update email or something?</p>
<p>Is the 5500 a grant orscholarship?</p>
<p>If you are not clear why dont you call the office.</p>
<p>So I called and they said the summary ($5,500) listed on the Albert page is my full financial package. The $2000 unsubsidized will be added once they confirm my credit evaluation.</p>
<p>Well that is really not enough money. What is your EFC? You can appeal for some FA other than loans.</p>
<p>Excuse my ignorance, but how can I determine my EFC?</p>
<p>In order to receive any institutional aid one must fill out FAFSA and send it to the school. It does not guarantee any aid but it does allow the institution to grant you any federal aid your are entitled to and any institutional aid the school is willing to give you. There are some online calculators that can help you figure out what your EFC might be. The bets website I know is [FinAid</a> | Calculators](<a href=“Your Guide for College Financial Aid - Finaid”>Calculators - Finaid).</p>
<p>It sounds as if you might not have done FAFSA</p>
<p>I filled out the FAFSA a while ago, but I can’t remember what the EFC was. Should I be able to access that information from my account after I already filled it out?</p>
<p>Thanks for the help, by the way. I appreciate it. I’m just really overwhelmed with all the stuff I need to figure out, and I’m having trouble determining where to start.</p>
<p>Your SAR (Student Aid Report) was probably sent to your (or your parents) e-mail address. Try to check there first. </p>
<p>Here is the FAFSA website.
<a href=“https://fafsa.ed.gov/FAFSA/app/fafsa?locale=en_US[/url]”>https://fafsa.ed.gov/FAFSA/app/fafsa?locale=en_US</a></p>
<p>If you don’t remember your PIN, go here.
<a href=“https://pin.ed.gov/PINWebApp/PINServlet?state=100[/url]”>https://pin.ed.gov/PINWebApp/PINServlet?state=100</a></p>
<p>Edit: Just found my kid’s e-mail. Takes you to the exact same FAFSa screen.</p>
<p>Sounds like he already filled the FAFSA out. $5,500 is the maximum federal loan for a freshman. No Pell, as apparently he’s not eligible. Additional unsub loans of $4,000 would only be offered if his parents failed a PLUS credit check.</p>
<p>Run away from NYU. Now. You cannot afford it and you will be saddled with huge loan debt if you try.</p>
<p>You have roughly 38000 towards your yearly education, based on the fact that you will be a junior. You are approx 16,000 short of the billable costs. That is the amount that you have to figure out how you will come up with. Are your parents going to contribute? Can you ask for more FA? Any outside scholarships? Are you working?</p>
<p>Wait, Milkandsugar, how exactly are you figuring that estimate?</p>
<p>By the way, I figured out my EFC. It’s 21072, as listed on the FAFSA.</p>
<p>That puts you far out of the realm of federal need-based aid. NYU is not likely to offer you anything else. Loans beyond the Stafford amount you’ve been offered would have to be PLUS loans taken out by your parents.</p>
<p>Well, to offer a counterperspective, if you’re only looking at two years of school since you’re transferring in with an Associate’s, as milkandsugar said you’re only $16,000 short of the billable cost. For two more years, that’s $38,000 of loans you’d need to assume. As far as I’m concerned, that’s a very reasonable price to pay for a world-class education (at a top-5 ranked fine arts program) at Tisch.</p>
<p>Think of it like this. You’re graduating with a 4-year degree from NYU Tisch with a loan figure of $38,000.</p>