<p>So I was recently accepted into NYU Stern :) </p>
<p>I was checking my Financial Aid summary and the summary stated: </p>
<p>Stern Scholarship: $58,910.00
Pell Grant: $5,645.00
Aid Year Totals: $64,555.00</p>
<p>From perusing some other threads, I realize this is an extremely generous FA offer and I'm very grateful that NYU is able to give that to me my freshman year.</p>
<p>I was just wondering how, if at all, my FA changes year to year. Will it typically decrease by a certain amount? If so, how much approximately? </p>
<p>Any input from NYU students would be much appreciated.</p>
<p>I’m currently a freshman at NYU CAS. I recieved a substantial amount of financial aid as well-- when I checked with the financial aid office, the woman there told me that the scholarships I received would be renewed for all four years. However, from personal stories I’ve heard from friends, that doesn’t seem to be necessarily true. I would ask the financial aid office for more advice-- since I haven’t received any information about financial aid for the upcoming fall semester I can’t verify any facts except obviously GPA needs to be above the cutoff. Hopefully I helped! If you have any other questions about NYU, let me know.</p>
<p>My daughter also received a scholarship to nyu and part of our struggle is that they don’t “guarantee” scholarships all 4 years. I’ve talked to several folks in nyu financial aid and I’ve been told they won’t guarantee, they say that usually they are renewed, as long as there is no substantial change in your financial situation. That’s the troubling part, ‘same amount of financial need’.</p>
<p>Scholarships and grants are types of gift aid that do not have to be repaid. They may take the form of University scholarships, federal or state grants, or outside scholarships.</p>
<p>For most undergraduates, eligibility for a merit-based and/or need-based scholarship is determined upon entrance to the University based on prior academic strengths and, if you apply for financial aid, your demonstrated financial need. Typically you will continue to receive for subsequent academic years the amount of scholarship you received for your first year (subject to the availability of funds), as long as the following criteria are met:
You are a full-time student (at least 12 points).
You applied for financial aid on time.
You are meeting the Satisfactory Academic Progress standards.
You have approximately the same amount of financial need that you had in prior years.</p>
<p>No college will guarantee an aid award for 4 years. None. The closest you’ll get is that all things equal, the award will be similar. As a rule, they do stick to that with some caveats. FIrst of all, do understand that the costs tend to go up each year. They go up, all things equal, but also upperclassmen housing options often are more expensive anyways, so it’s a double hit there. Also most every school, even Harvard has a student contribution that is expected and that tends to go up each year. Schools expect the students to take a larger role in paying for college costs each year. Also, the federal Stafford limits go up, and every school I know who gives out loans will lap up that differential very quickly.</p>
<p>Congrats to those getting these packages. I’ve said a few times that I’ve personally known students whose best package was from NYU. It’s not that they do not give out great aid packages at time. The issue is that it is not guaranteed and not what most kids will get. That it is need blind in admissions means that getting accepted is absolutely no guarantee that even a dime of need will be met. Instead of turning down an acceptable kid, they just won’t give him aid in many cases.</p>
<p>Hey, just an update. I received the exact same amount of scholarship money this coming year, despite my financial situation changing quite a bit.</p>