Hello,
I have been accepted into NYU’s Liberal Studies program. They have offered me a $37,900 scholarship and with the help of the tap and pell grant, I reach about 50k. I will not be dorming because I live in the city. Will this be enough for me to attend the school and pay off other costs with a job instead of loans?
Run your numbers here: http://www.finaid.org/calculators/awardletter.phtml
Thank you!
Can your family pay any remaining costs including your commuting costs?
yes they can
Did you receive your financial aid ward?
How is it broken down line by line?
Was your financial aid based on living on campus or off?
it says:
Liberal studies scholarship: $37,900
Pell grant: $5,920
Tap grant: $5,165
Federal work study: $3,000
an then it offers me the subsidized, unsubsidized, and federal PLUS loan options but I live in NYC and plan to stay at home so I don’t believe i’ll have to take those (I hope?)
I’m not sure how NYU awards scholarships but just be sure your scholarship reflects the fact that you will be living at home. If part of the scholarship was to cover room/board it may be reduced if you choose to commute.
As long a your aid covers your tuition and fees, you should be fine. However, you are short $2843. Take th subsidized loan to cover your direct costs. The interest is paid by the federal government as long as you are in school. You will get a refund of $328.5 per semester.
You would have to purchase a metro card and eat lunch even if you went to CUNY, so that is going to be a wash.
Get a summer job to offset some of your start up costs; books and school supplies. You will have approx 115 a semester in work study which will come out to approx 8 -10 hours a week that you will work (at min wage of $13/hour).
Sounds like an excellent package. Congrats
Thank you but I cannot clearly remember whether or not I put on campus when I applied for financial aid on the fafsa, so would my scholarship amount change drastically from what they are currently offering me if that is the case? Where could I find that information?
Read your entire award letter carefully. If your financial aid award is based on your living on campus, it is going to change if you are not living on campus. Call the financial aid office today. See if you can meet with them tomorrow since you are on winter break. You will need to get this straightened out before you make a final decision
They never sent me a letter the only thing they did was give me the award summary online and nowhere on it does it say anything about dorming just the loans and the grants and the scholarships. So what should I do?
Call them now to seek clarification the office should close at about 5
log back into your financial aid portal (is it on Albert).
On your award letter it should have an estimation of your cost of attendance based on on campus-off campus housing
Look on your FAFSA and see what you did. Did you say on campus…or off campus.
So I called and they told me they have me under “on campus” and that what I have to do now is email the school and let them know that I no longer want to live on campus and that it would change my scholarship amount ( he said not drastically but I am not sure about that) and the amount of loans I would have to take. Thank you for bringing this to my attention by the way. Now I have to wait and see how much they will take away and see whether or not I can afford it anymore.
All you can do is just wait and see what the adjusted award is going to be. If it is not going to be by much, you may have to take the full 5.5k loan
You still should be looking for working a job now. As long as you make under 6k, your EFC will not change. Work study will not be included in the amount of money that you could make.