I would strongly suggest you add IMO, since it is not true.
Do you know if NYU is vindictive in this manner when an ED applicant backs out because NYU’s FA (non-)offer gave a very different net price than NYU’s very poor NPC?
I don’t think NYU will care (plenty of full payers), but I have seen high schools act vindictively… more often, other students.
Real example - NYU says who cares because they can find another full pay student. High school begrudgingly keeps the situation under wraps and does not ask many questions. Peer student complains to guidance (deaf ears) and then complains to UT Austin. Result may be a rescind from UT Austin - and a year off and reapply the following year. Maybe the Texans are more kind, but that happens in the northeast. Families get vindictive when they think the son “of a rich guy” took his daughter’s spot and then cried poverty.
I agree with @1NJParent. Our CC crowd makes the back-out look way too easy.
Appeal your aid package since there’s a discrepancy between the calculator and the package, but don’t expect anything.
What major were you thinking of?
@michaeluwill: this scenario only applies to “meet need” colleges.
Colleges that don’t meet need don’t care, since they know some students cannot attend for financial reasons; in fact, it’s part of the admission process, called “admit/deny”. NYU does that a lot.
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Better descriptor would be “financial rejection”.
However, colleges that claim to “meet need” do this, because their definition of “need” may not match that of the students and parents. If they had accurate net price calculators, then students and parents can be forewarned (and therefore not apply ED or at all), but NYU’s net price calculator is very inaccurate, even for “ordinary” financial situations.
Thanks to everyone finally agreeing with my original statement. The student had no business applying ED only to question this later.
And NYU does not meet full demonstrated need.
Schools push the ED because it’s great for them. And yes, it’s easier to get in so for a rich student it’s great. For the parent who doesn’t want to be on the hook for $320K, not so great. Unless you know you’re going to get a pell grant, it’s not great - and if you are that person, you should only ED to schools that meet 100% of need of which NYU isn’t one.
Yes, they can get out - but it’s messy and frankly not moral.
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I graduated from UT Austin. I have a niece and a nephew at UT Austin right now. I have a pretty good feel for the bureaucracy. The odds of a random high school kid connecting with someone in the administration and getting an offer rescinded for someone else are about the same as me starting at Quarterback for the Miami Dolphins next season.
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That makes sense.
Parents are tough. Happened last year with a local and a UVA rescind. Whether YOU think it is realistic or not, the message should be breaking ED comes with risks. If you are able to get out using a financial excuse, and it is not valid (like many are not on CC) - buyer beware.
sounds like you may have only run the tuition calculator not the full COA…my DS looked at NYU as well. The tuition was around $45, but that was without Room & Board. The total cost when we looked at it was around $70K…the very reason he did not apply. Also, our research showed that they give VERY LITTLE financial aid.
If you can get out of it, for financial reasons I would.
What may be “not moral” is NYU having an extremely inaccurate and misleading net price calculator. If the OP used NYU’s net price calculator and got an affordable net price there before applying ED, then the fault lies with NYU having a misleading net price calculator.
Of course, if colleges really want to make ED usable by students who need financial aid, they could offer financial aid pre-reads before the ED deadline, promising that, if the actual financial aid situation is the same as that given in the pre-read, the pre-read net price will be met. But since ED is a way to increase no-FA students, that is unlikely.
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Not to defend NYU, bu we used the NPC in the fall and came up with $70K as a total COA — the $44K was only the tuition. OP may have misread the information before they applied, unfortunately.
I don’t think going into $200K in debt is worth it for any undergraduate degree. My daughter is a current NYU Gallatin student I am not sure I would have encouraged her to go into $200K in debt to go there.
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Moderator’s Note: Let’s get beyond the issue of breaking ED and back to the original question. Thank you
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@idkhelpme02 : can you answer questions from posts 32 and 44?
So ED is for the wealthy and the poor for top schools.
OP applied ED because NYU’s Net Price Calculator spit out $44k. The financial aid package came back with a net cost of $81k. That’s a huge difference. How would the OP know to question the result before they applied? Unless you’re cosigning the $160k loan this high schooler needs for a school that is so not worth the debt, maybe you should leave the decision up to their family.
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Also, one more thing, Gallatin does not accept most of the credits you will be bringing.
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Is NYU worth the price
Yes, (as much as any other college) and when you add the opportunities that come with being in one of the world’s greatest cities - double yes. The good news for you is that U Texas Austin is also a great school. ED breaks are truly bad for all, but I am less of a judger and more of a warner. Good luck.
I agree with you 100%. My son is graduating from a good state university with no debt. He has been accepted to three T-14 law schools and the prices are outrageous. If he had substantial debt right now, he would not be able to go to a top school unless he got a huge amount of merit aid, which is certainly not a given,
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