<p>I am just wondering if any of you may be able to give me some advice here. I am taking online classes and I am new to NYU. For financial aid, I completed the FAFSA, was awarded a scholarship, received the Perkins Loan, and an unsub loan. However, I am still short for even one semester. My parents were awarded a $30,000.00 loan, but, unfortunately, they filed bankruptcy and still have 3 years left in their term. I was wondering if anyone had any ideas of how I can continue to go to school - because as of right now, I won’t be able to enroll for the Spring semester. My parents cannot accept their loan (which I don't expect them too) because of their bankruptcy and they're not even allowed to apply for it, knowing they would get denied, so I could get extra funding. I am 22 and already I have horrible credit from medical bills that were sent to me by mistake and cannot be taken off as for now. I have applied for every school loan that you can possibly imagine and I get denied. Even Sallie Mae denied me... I will not have a co-signer ( and couldn't even get one if I wanted ) and a private loan is out too.. no bank is going to give money to someone with bad credit. When I talk to the folks in financial aid, no knows how to help me and I end up getting transferred to 5 million people. I had a counselor hang up on me because he couldn't answer my questions. I had another say to me, "Are we about done here? Obviously, no money means no school." Really? Aren't schools supposed to try and help students? I just want to go to school. It has been my dream forever and already it is ending. So, does anyone have any advice for me?</p>
<p>NYU is one of the two or three most expensive colleges in the country. NYU does not have a large endowment considering the size of the school and simply does not have the resources to give generous financial aid to all students. Obviously it is totally unaffordable for you, as it is for most students.</p>
<p>The solution is to attend a more affordable school, such as a local public college.</p>
<p>If it is not too late to withdraw and not owe all that money for the fall, that is what you need to do NOW.</p>
<p>If it is too late to do that, you need to meet with the Bursar’s office and devise a payment plan for your outstanding bill. You will need to withdraw from college and get a job so that you can pay off the rest of your bill. No college us going to admit you as a transfer without your transcript from this semester, and you won’t get that until your bill is paid.</p>
<p>Sorry.</p>
<p>The adults around you did not advise you well when you were applying to college. They should have told you that NYU was unaffordable.</p>
<p>While those folks you talked to may have been “rude” they were telling you the truth. There isn’t a magic source of money. No, they’re not req’d to find you a money source…because for you there isn’t one.</p>
<p>Frankly, it was very naive for you to start at such an expensive school w/o the funding. Do you owe money for THIS semester? If so, that’s a problem unless you can withdraw and not owe. </p>
<p>Why aren’t you going to a local state school or CC?</p>
<p>Agreed. Finish this term. Get the best grades you can possibly get. Then go talk to the Dean of Students about a leave of absence for the next term. It is highly likely you will not be returning to NYU because it is not affordable for you. But better not to burn that bridge…just in case you win the lottery.</p>
<p>Then as noted upstream…get a job and pay off your balance to NYU. They will not release your transcripts until you do. </p>
<p>Then look for places to transfer to that are affordable. If your parents really can’t provide any financial support, then you have a couple of choices.</p>
<ol>
<li><p>Go for two years to a community college and live at home. Your Pell and Direct loan will likely cover your tuition costs.</p></li>
<li><p>Work full time and attend college part time…again probably commuting from home to save money.</p></li>
<li><p>Work full time and save money for attending college. Alternate work years with school attending years. Yes, it will take you a while to finish, but you will have some job experience and also the money (hopefully) to pay your costs.</p></li>
</ol>
<p>It sounds like the student will owe about $15k for this semester. If so, then if withdrawing will eliminate that debt (or greatly reduce) that should be considered. It’s very hard for a young person w/o a degree to pay off $15k in debt.</p>
<p>According to the NYU website, this student would have needed to withdraw from the university before October 1, 2013 to get even a portion of the tuition refunded. After October 1, it clearly states NO REFUND.</p>
<p>So at this point…this student will be responsible for the full bill for this term whether he withdraws…or not. He might as well complete the courses.</p>
<p>I strongly suggest he make an appointment with the Dean of Students to discuss his options…and do so ASAP.</p>
<p>This is a ridiculous situation. The student knew the cost when s/he enrolled. s/he knew the parents couldn’t borrow. The idea that colleges would “help you” come up with the money is not realistic if the “help” didn’t come with the FA pkg. When schools can help, the help comes in the FA pkg. The student knew that s/he was given $30k in loans that weren’t doable. That was the BIG RED SIGN that the school wasn’t affordable…yet, the student proceeded anyway.</p>
<p>To the OP…just for the record…even if your parents applied for and were denied the PLUS Loan, you would ONLY get an additional $5000 in Direct loans FOR THE YEAR. You would still be $25,000 short for the year…or so.</p>
<p>Thank you all for your advice! I thought that I would be fine when it came to financial aid. My parents didn’t file for bankruptcy until almost 6 months after I was accepted, but I did have to defer. Also, I wasn’t aware that they were going to split my financial aid in half. I am doing online classes and owe $10,772.00 for the Fall semester. I was awarded $7,335.00 in aid. I have a job, but my take home pay is under $300.00 a month. I am constantly applying for jobs everyday, but no one is hiring around my area unless you have a nurses degree or are a trucker. I do live with my parents and that is a big help too. I chose to go to NYU because I didn’t need PSAT or ACT scores to get in. I went to Baker College, but none of my credits will transfer. I thought by going to NYU - I could take a few semesters and build up good grades, then transfer to another university that was closer and cheaper. I have 2 community colleges around me, but they do not have the programs I want to go into. I can’t go and just take my basics - I have to be enrolled in a program. When I went to Baker, I was enrolled as a Vet. Tech., I never wanted to be though. I am going to school for Anthropology/ Archaeology. I was accepted into Central Michigan, but had my acceptance withdrawn because I couldn’t submit proof of my PSAT/ACT tests. Recently, I was accepted to the University of Colorado - Boulder. I turned them down because my advisor ASSURED me that the Fall and Spring semesters wouldn’t be a problem, but wouldn’t be able to handle anything that came after. She passed my balance for Fall and now last week - she e-mailed me saying that it doesn’t look good for Spring. It really sucks that teen parents, drug addicts, etc. have all sorts of opportunities to attend college. I am just a normal 22 year old woman who has never “messed up”, works hard, and I can’t even go to school. As for NYU “helping” me, I never expected anyone to come up with some magical solution lol. The financial aid dept. wants ALL students to submit a Financial Aid Profile, where associates in the dept. are able to “help” “find” solutions for me. And I have to pay for that too…not… I can’t. I know that the people in financial aid were just trying to be honest, but yes, they were rude too. I have been hung up on and when I call back, thinking something was disconnected, I was told no, that he just didn’t have a solution. And the other guy kept yawning and groaning from the beginning of our meeting and would cut me off. I can honestly think back and I have never been treated so rude by anyone in a business profession. :/</p>
Seriously? You are very misinformed if this is what you believe. For a start, Kids with drug convictions lose eligibility for federal aid. And why should a teen parent have any less opportunity to go to college. Good for them if they can manage school and being a parent. You made a mistake choosing a school that is much too expensive and unaffordable for you. Nothing whatsoever to do with teen parents or drug addicts (for whom the school would be equally unaffordable).</p>
<p>
Aid is awarded for the year. It will always be split by the number of semesters or quarters in the school year. This will be the case at every school.</p>
<p>You could have gone to a CC…SAT or ACT scores aren’t needed.</p>
<p>That said, it’s RIDICULOUS to have considered borrowing THAT much money when just taking a simple SAT or ACT test would have opened the doors to much cheaper schools. </p>
<p>Your parents may not have filed for Bankruptcy until after you were accepted, but it’s very likely that they knew long before that they couldn’t afford those loans and probably wouldn’t have qualified.</p>
<p>My only advise is to withdraw ASAP for the 2nd semester, work and pay off what you owe to NYU so the university will release your records, and seek a school you can afford for next summer or fall session.</p>
<p>I give credit to teen mothers who are able to go to school! But it’s like the whole food stamps thing. People that are able to work don’t but can go out and do all sorts of stuff. Then you have those who actually do something and they can’t even afford groceries. Also, the PSAT/ ACT tests were never offered at my high school. If you wanted to take them, you had to go to this university and pay $360.00. It wasn’t worth it.</p>
<p>Mom2collegekids: I would never expect my parents to help me with any loan, I would rather have them denied and only $4000.00 for school- instead of them being $30000.00 in debt.</p>
<p>NYU is a private school. I can assure you that teen mothers on WIC are not attending for free unless they are the brilliant few NYU wants for the sake of their own reputation. </p>
<p>There aren’t impoverished people, as you should know, since you are now impoverished yourself, with the exception of the academically gifted, who have it “easier” than you. </p>
<p>I’m sorry you were I’ll advised. I hope you can figure it out without resorting to blaming others who find themselves in unfortunate situations as well. </p>
<p>What state are you from? What is the cost of attendance at the state U?</p>
<p>Also, the PSAT/ ACT tests were never offered at my high school. If you wanted to take them, you had to go to this university and pay $360.00. It wasn’t worth it.</p>
<p>the SAT and ACT are RARELY offered at student’s high school. NEARLY EVERY student has to take it SOMEWHERE ELSE. You weren’t at a disadvantage. Millions of students take the SAT or ACT elsewhere. That’s how it’s done.</p>
<p>AND no…it doesn’t cost $360. It costs about $60…everywhere. You pay ONLINE at Collegeboard for the SAT or ACT.org for the ACT. Each testing location doesn’t get to change the price.</p>
<p>That said…even if there was some unbelievable way that the SAT cost $360, then to say it “wasn’t worth it” and then CHOOSE to go to an over-priced schools that costs tens of thousands of dollars that you don’t have speaks volumes about what the financial thinking is in your household.</p>
<p>You attended Baker College so you live in Michigan? And you applied to UC Boulder, an Out of State public U? Did you look at the costs you would pay there? What community colleges are available to you locally?</p>