Can somebody please tell me if this would be allowed? Thanks in advance!
I am planning to apply to NYU early decision. However, NYU is notorious for giving inadequate financial aid to students. If I am accepted to NYU but their financial aid offer is insufficient, can apply to other schools regular decision while still keeping NYU open as one of my options, or will I be forced at that point to turn down NYU to pursue other colleges?
No, you would have to turn NYU down if the FA package makes the school unaffordable.
If you are accepted to NYU ED, you will,have a very short window in which you either accept or decline their offer. You cannot keep your NYU offer open while you wait for regular decision offers to come in. That is NOT the point of ED.
if you accept the ED offer, you MUST withdraw any other pending applications or acceptances.
If you decline the ED offer…NYU is totally off the table for you.
Why don’t you just apply regular decision to NYU…as well as your other colleges?
You will have to decline your acceptance or submit a deposit. If you accept then you have to withdraw all your other applications
How much can your parents afford to pay each year for four years? What are your stats? How much in aid do you need from NYU each year to make it affordable?
Why NYU?
Only apply ED if NYU is your #1 choice and are willing to attend regardless of the FA package you will be offered.
@Madison85 I’m not exactly sure how much we can realistically pay, but I assume it is somewhere around $8,000 per year. However, based upon the information gathered on the financial aid application, it will appear as if my family can afford to pay close to nothing each year. My weighted junior year GPA was 3.66, I scored an 1860 on my SAT (but when I take it again I am expecting to get around 2000), I take extremely challenging classes relevant to my intended area of study (real estate), and my school is a feeder school for NYU. NYU is my first choice mainly because it is the only college in New York City that has an undergraduate real estate program (Schack Institute).
My close second choice school is Penn; if accepted, I’m sure I would get better financial aid than from NYU, but obviously it is highly selective and my stats are relatively low. So, I would like to apply early decision to NYU or Penn.
The prevalent thinking on College Confidential is not to apply ED if you need significant aid.
You likely need to apply to a stats-and-financial safety since your stats aren’t tippy top and you can only afford $8k or less per year (i.e. commutable 4-year or community college).
Per the federal data graphed by tuition tracker, the average NYU undergraduate who had a family income of $30K or less had a net price after NYU scholarships, NYU grants, and Federal/State grants of $25,441. (So, these students likely had other scholarships and/or took out huge loans, or lived at home and commuted to avoid room & board costs.)
I have never seen NYU put forth an adequate financial aid package for a student who is truly low-income and who will need to live in the dorms. YMMV.
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Are we talking about NYU here? The room and board is well above that. I would write that off as an ED option. If you want to apply RD then fine, but don’t expect much. They don’t have the endowment.
The acceptance rate for ED and RD is almost identical for NYU, so you are not gaining much of a bump by applying ED. Personally, I would not apply ED. Seems you really need to compare packages.
You do not need to major in real estate to get into real estate. You should concentrate on becoming a licensed real estate sales person instead. You will need to take a course and pass the salesperson test. Once you graduate–regardless of major–you can be hired and trained by a real estate company.
NYU does not guarantee to meet full need for all…and they don’t. Many students find a significant gap between the Cost of Attendance minus their family contribution…and the aid NYU offers.
http://www.nyu.edu/financial.aid/misc/npc/ is NYU’s net price calculator.
For a student living on campus from a family with an income of <$30,000, NYU’s net price calculator still gives a net price of $20,245, which is about double what the student can self-fund with federal direct loan and work earnings (since such a family is unlikely to be able to contribute anything). If the student is close enough to live with parents and commute to NYU, the net price drops to $2,519 in this case.
However, the NYU net price calculator asks very few questions (e.g. nothing about assets, business, real estate, married versus divorced parents, etc.), so it may not be the most reliable net price calculator.
You should strongly consider tossing an application at Baruch, if you live in NYC which also has an undergraduate real estate program, and may end up being a financially feasible option
http://zicklin.baruch.cuny.edu/faculty/realestate/index_html/programs/bba-realestate.html
what is your unweighted gpa and what are your CR/Math scores
@ucbalumnus – the NYU net price calculator is terrible. Tuition Tracker uses the IPEDS data, and while it is always lagging from a reporting standpoint, it is better than NYU’s NPC.
I don’t have any insight into whether NYU’s financial aid varies based on what college you attend within NYU. That may be another piece of the puzzle.
please don’t go into debt to get a degree in real estate.
Regardless of whether your interests are in development, sustainability, infrastructure (i.e. how a city uses mass transit or how it plans for airports/stadiums/big commercial developments) or sales (either commercial or residential) you most emphatically DO NOT need a degree in real estate to pursue any of these things.
Get a degree in urban planning. Get a degree in finance/accounting. Get a degree in political science or art history or graphic design.
Do NOT get a degree in real estate if it means taking on debt. For every person you see on TV who brags that they made a million dollars last year by only working 25 hours a week, there are hundreds of developers going break every year, and hundreds of real estate sales people who earn 45K per year and work 60+ hours a week.
I cannot imagine stretching the budget for a degree in real estate from NYU.
Marketing is a good degree for working in real estate. A degree in real estate itself is too specific. A broader degree (like finance or urban planning etc as suggested above, or marketing) gives you flexibility.
Another vote for studying something much more general than real estate. And with a small family contribution and less-than-tippy-top stats, you’re going to have to do a very careful search to find options that you could both be admitted to and afford. The financial aid at NYU just isn’t there, so it probably doesn’t make sense to apply at all. And unless you have a major hook or some extraordinary ECs, Penn is not going to happen. Does your school have Naviance? You need to look at see where students with your GPA and SAT have been accepted then start running some net price calculators.
Thank goodness for the really smart parents her on CC. NYU is known for poor FA packages, so hopefully kids and their parents can get a heads up on this before applying ED. As I stated in another thread on CC about NYU, my daughter’s HS classmate will be attending NYU Tisch this fall and her parents put their house up for sale because NYU did not meet her full need and now they are scrambling to figure out how to pay. It’s mind boggling to me. The big takeaway I guess is that families need to do their homework on putting together college lists, especially when it comes to applying ED.