How to read NYU financial aid

Paying for College
1

<p>I received $48,112.00 in financial aid from NYU, including work study/loans.
However, I have no idea what the cost of attendance will be.
My estimated financial aid budget breakdown says that the total cost of attendance will be $48,200.00 for both terms, which seems far too low based on what I have heard previously.
Other sources put the cost of attendance at ~$59,000.00, which seems more accurate, if only because it is less optimistic.
How should I read the financial aid package/Estimated Financial Aid Budget Breakdown?</p>

2

<p>Will you be a commuting student?</p>

<p>NYU lists the cost for a commuting student at $48146 in this document:</p>

<p><a href=“http://www.nyu.edu/content/dam/nyu/financialAid/documents/tuitiongeneral.pdf[/url]”>http://www.nyu.edu/content/dam/nyu/financialAid/documents/tuitiongeneral.pdf&lt;/a&gt;&lt;/p&gt;

<p>R+B ups it to almost $62K.</p>

3

<p>Sounds like thats tuition and doesn’t include room and meals. </p>

<p>What are the loans? Did you get just Staffords or a Parent Plus too?</p>

4

<p>notrichenough- I will be living on campus. I just looked it over, and the room and board makes absolutely no sense (the estimated financial aid budget breakdown listed room and board as 1,000 dollars, which is probably nonsense).
Waverly- the financial aid budget breakdown did list rooming/meals, albeit at ridiculously low prices. As for loans, I got a Stafford loan; no Parent Plus.</p>

5

<p>Did it list a COA breakdown?</p>

<p>NYU may be only listing “direct costs” …which are amounts paid to THEM and may not include travel, personal expenses, etc</p>

<p>What exactly is in your FA pkg?</p>

<p>Grants??? how much?</p>

<p>Loans? What type and how much?</p>

<p>etc</p>

<p>Edited to add…check and see…it looks like they have you living at home.</p>

6

<p>The cost of attendance breakdown was as follows:</p>

<p>Spring 2013</p>

<p>Category Description Amount
Books & Supplies
535.00
Fees
1,413.00
Room & Board
1,020.00
Loan Fees
27.00
Miscellaneous
250.00
Transportation
416.00
Tuition
20,439.00
Term Total
24,100.00</p>

<p>Fall 2012</p>

<p>Category Description Amount
Books & Supplies
535.00
Fees
1,413.00
Room & Board
1,020.00
Loan Fees
27.00
Miscellaneous
250.00
Transportation
416.00
Tuition
20,439.00
Term Total
24,100.00
Total Cost of Attendance
48,200.00</p>

<p>The FA Package was:</p>

<p>Estimated NY State TAP
4,952.00</p>

<p>CAS Scholarship
31,700.00</p>

<p>Pell Grant
5,500.00</p>

<p>Federal Work Study
2,460.00</p>

<p>Stafford Loan 1
3,500.00</p>

<p>Aid Year Totals
48,112.00</p>

<p>The cost of attendance breakdown does seem to include room and board at an impossible price…</p>

7

<p>If you look at that doc I linked to, you’ll see they allocate $2040/year, or $1020 per semester, to R+B costs for commuters.</p>

<p>And your package lists $1020 per semester for R+B.</p>

<p>It seems clear NYU thinks you will be commuting, for some reason.</p>

<p>Since you are planning on living on campus, you need to contact NYU as soon as possible and talk to them to get it straightened out.</p>

8

<p>Ah, I see. It’s all clear now. Thank you very much for your assistance. I will call/email NYU asap.</p>

9

<p>Do you live within commuting distance from the school? If yes, then it is highly unlikely that they will adjust your FA package to live in the dorms. Living in the dorms can be an option for you, however, you will have to figure out a way to pay for them.</p>