I talked with NYU and they said they’d let us out if we decided the package was not what we needed. I didn’t see it in writing but they said it.
If you look at other colleges such as WUSTL in the common data set, all their attendance rates of ED and matriculation are over 98 and 99% - they don’t let you out. It’s a business. If someone did not go, they have a network of schools that will keep you out altogether - just like they check to see if you applied to more than one ED.
It’s a business - and the colleges don’t play nice - nor should they. You know what you can afford up front and there’s never a guarantee. NYU does not meet 100% of demonstrated need - so that’s another red flag.
I wish you luck - I’m just saying the ship has sailed - if you need to ask the question up front, then NYU or other high price schools, ED was not the option for you. Why my daughter was not allowed to apply anywhere ED.
Or their NPC is more accurate. But it is an illogical leap to state that the CDS means they let nobody out. No college will make someone attend if unaffordable. No student or HS will be blackballed in such an instance. Spreading unfounded urban legends is unhelpful.
It’s not urban myth - you can read stories on line. Again, I can’t speak to this person’s circumstance and I wish them luck, but, in general, a student who will need grants, should not apply ED. Unless you know you will qualify for a pell, etc. Colleges are very clear that if aid is a concern you should not apply - that you sign a contract that is binding. Yes, there are ways to get out of it - but that’s not the intention. That’s all I said was - the time to ask the question - is it worth it is not now, it was b4 he bound himself.
The issue with the calculators, especially at schools like NYU that require the CSS is, the child may not have all the parental info. I’m a parent and perhaps all don’t realize, but I would know b4 I let them apply. After all, it’s the parents money. Anyway, this person asked if NYU is worth it and said they didn’t know if they can afford it.
But we all have opinions - i think you apply ED seriously, not casually - and a NPC is only a guide.
But let’s move on to a better subject and wish this student well.
Since he/she applied ED and would be expected to go, could he/she then ask for more aid or are people able to withdraw from ED obligations based on stating that the aid is not enough?
Agree to go with the huge savings. BUT I would add, to consider coming to NY in the summers and take NYU summer courses and live on campus for transferable credits needed. Pay premium for a shorter experience. Then, with the extra savings if you still love NYU, get the law degree there.
Excuse me if I’m too blunt. If you need FA and if you’re sensitive to the amount of aid given, don’t apply ED or ED2 to a school like NYU. Your situation isn’t a coincidence. Similar stories of disappointment appear frequently and consistently every year. Don’t waste your energy, money, and more importantly your early admissions opportunity, on such schools.
What major are you hoping for? As you know CAP basically only works for Liberal Arts and many students don’t meet their conditions.
Have you been admitted anywhere else?
To give you an idea, a 30k loan (total) is how much a college graduate can reasonably be expected to pay back over 10 years.
Whether or not the OP can get out of his/her ED2 commitment is something that not any of us knows. Assuming that $44k a year is doable for OP and family, the gap is $37k/yr or about $150k over 4 years. Also Op is mixing apples and oranges as far as costs are concerned. $81k for NYU is all in costs. $14k for UT is just tuition. The COA even living with parents is $20-22k, full in state cost assuming you do not live with parents is closer to $30k. That still leaves a $200k differential between NYU and UT. If the goal is law school, save your bucks for that. unless money is not an issue for your parents (in which case it means you are stuck with your ED2 commitment).
NYU’s NPC at Estimate Your Cost is a very minimalist one, where the highest parental income category is “Above $99,999” and there is no place to specify parental assets. You would think that they would use the more detailed College Board template, since they use the College Board’s CSS Profile.
NYU’s NPC seems to give a $57,796 net price for a family of 2 or 3 with 1 in college and parental income “Above $99,999”. It also says that is for academic year 2018-19 with a list price of $74,676.
If a student’s parents don’t submit a deposit or send a check for tuition colleges aren’t going to allow the student to enroll. You can’t register if your account isn’t in good standing.
I don’t understand how people think colleges can force people to write checks for $80,000 or take out loans for $40k. Unless they file a lawsuit and get a judgment I don’t think there’s much they can do. They don’t want to spend 4 years chasing after some kids’ parents every time the kid wants to sign up for classes. There are plenty of others who will be happy to pay.
I think you are comparing the full COA for NYU @$81k with the tuition cost of UT at about $14k. At UT you are going to have to eat and sleep somewhere, so the COA is probably $25-30k, not $14.
Still a significant difference, but not $14k compared to $81k.
idkhelpme02, I went to NYU for my Bachelor’s and Master’s a million years ago when it didn’t cost a million dollars. I loved NYC before, during, and after, but it makes no sense to go there at that cost. I doubt NYU is any better than UT Austin, and, in fact, UT Austin is better than NYU in some disciplines. You can always choose to go to NYC in some other way in your life - and I recommend you do - but it doesn’t make sense to go at that cost for school. With NYU you’re paying for the name recognition and the city. As I said, you can always go to NYC in other ways, cheaper ways, and the name recognition is not worth it. Honestly, I don’t think it’s the kind of school that will utterly impress future employers. I think it’s more of a cool factor. And it is cool. But massive debt is super not cool. In fact, if you can graduate college with little to no debt, just think of all the extra money you’ll be having in your early career days. With debt, you can forget about going to NYC on vacay, or anywhere else for that matter probably, and you probably won’t be able to afford to stay on there after school with massive debt. But with little to no debt, maybe you could afford to live in NY for a stint after college. And of course there’s the law school thing. Maybe paying for NYU law could be worth it? I don’t know. But you will be overwhelmed with debt if you took this on, and then more for law school?!?! Don’t even think another moment about it. Oh, one more thing I think is helpful to think about: Debt is no abstract thing. It means you will have less money than you earn for many years. And with a lot of debt, you will have a lot less money than you earn for many years. While your friends are buying new cars, or going to take low paying internships for the excellent educational opportunity they offer, or getting an apartment in a fun part of town, and eating out at restaurants when they want, you will be continuously saying, “No, I can’t afford it.” It will suck.
Doesn’t hurt to talk to financial aid, and beg, but then let it go if there’s anywhere near that kind of debt.
And here’s the kicker…with the right attitude, you will be happy wherever you go. People love Austin.
Of course you can get out, but that oversimplifies the situation a student puts himself in when he backs out of ED. Sometimes things go poorly for the student. Not enough information for us to know for certain how this one will go.