Exactly!
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The NPCs and other tools are heavily heavily disclaimed. We don’t know the data is correct. And one would contact admissions and financial aid b4 signing up for ED if money a factor. And who knows what the student put in for assets, etc. Were the questions answered right. Anyway, it is what it is - just giving my opinion that ED is something to take seriously. And I’m assuming what was entered in the NPC was incorrect. Schools that are CSS and IDOC - if you don’t have a pre conversation you are making a mistake.
I ran both NPC on the NYU site and got two TOTALLY different figures. The NYU NPC was based on the AGI and the net figure would be totally do-able. The other NPC asked for assets, retirement fund info and gross income. With that, we got NOTHING. I have no idea which would be the right number.
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See if you can find any combination of parameters for a dependent student to get list price:
https://www.nyu.edu/financial.aid/misc/npc/
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I see that NYU does have a second more accurate NPC on the CB site:
https://npc.collegeboard.org/app/nyu
That must be the one you ran that gave you a full pay result, because it does have much more detail than the other NPC linked above.
Have you spoken with your HS GC?
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Sorry to disagree but NYC is no longer one of the world’s greatest cities based upon out- migration stats and especially not worth being in debt compared to great state schools. Saving money in undergraduate schools to be able to afford a great graduate school is the way to go unless money is no object and you don’t care about law and order. IMO
Big cities are certainly not for people who can’t tolerate seeing real life issues like poverty and other human struggles to be sure. Especially not for people who imagine that struggles are the result of one being a “bum,” and that issues like homelessness can be solved with more “law and order.”
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I don’t live in theoretical world. I was robbed by 4 men at gunpoint in NYC with a loaded revolver pointed directly at my face within spitting distance of the Empire state building. I didn’t imagine that. Perhaps you are fine with that type of city but I wouldn’t want my son to live in a situation like that and crime there has only gotten worse. I’ll let people like you opine about the human struggles that forced people to behave that way. You can sacrifice your kids if you want. Not me.
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That’s what I was afraid of…I like the “less accurate” NPC better. lol
We haven’t consulted with her HS counselor, but it is what it is. D applied RD, so first she has to get accepted, then we can figure out if the finances will work.
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NYU gets a bunch of kids backing out of ED admits for precisely this reason every year. Vindictiveness doesn’t seem to enter into it. But the student should definitely go back to the FA office for confirmation that the aid offer is final. I have seen some go up, but usually not by more than a few thousand dollars, and most seem to get told the offer is final.
I think you may have misunderstood the poster. We ran the NPC at NYU. It told us we would get grants of around $35k p.a… We knew that was nonsense because it didn’t ask us assets\529. But not everyone will realize all the ins and outs of NPC calculations. This was nothing to do with not understanding the difference between tuition and full COA.
I really don’t understand the people on this thread coming down hard on the student. Relying on a college’s NPC calculator as a guide for whether or not you can afford ED is imo perfectly acceptable and it is not “immoral” to back out if it’s badly wrong. The fault imo here lies with the college, it should get its calculator sorted out.
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I understand your point. I would bet on NYC though. We should all buy the real estate dip.
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I’m not saying it was wrong to use the NPC as a guide. That was absolutely the right thing to do. I was just saying that we ran the same NYU calculator and it calculated an amount over $70K — the breakdown it supplied had ~$45 for tuition and ~$20K for room and board plus other expenses — the total was over $70K. The calculator was pretty clear.
Still, the school will let them back out of ED if the cost is unaffordable. Not blaming the student at all.
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Yes, and I also ran the same calculator, and it gave me a wildly wrong figure for net cost after aid, which is what I am assuming also happened to OP judging from what was said. Just because it is accurate for one person doesn’t mean it is accurate for everyone.
How was it wrong? Different from what your final offer of aid was?
I looked at it and the most income it let you put in was $99.9K.
Everyone has an opinion. Mine is the student had no business applying ED. Unless you’re super wealthy with parents willing to pay or super poor that you know you qualify for a Pell, you should not apply ED.
And if you are super poor, you should only apply to a school that meets 100% of demonstrated need. NYU does not.
No need to debate. The student did what they did. If they back out, they back out. If there are consequences, they will deal.
ED should not be taken lightly - that’s the message I’d give - but again, it’s happened, we all have opinions, and that’s that!!
Assuming you are correct, seems the schools need to do a better job explaining all of that. And no need to say they spell it out in contracts or what have you…proof is in the pudding if people aren’t getting it.
As an ED family, the seriousness of ED is obvious; the student, parent and high school college counselor all sign. The only legit. reason to get out is “financial” which applies in this situation for this student! Also, this is NOT the question for this post - the question is simple - Is NYU Worth the Price? That’s all the student is asking. It amazes me how people go off on a tangent of ridicule. The student is completely free to be dismissed from ED for financial reasons.
If this is your dream school and you can afford it, then it is worth it. If it will strain you or your family then choose UT - great school.
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@TwinMom0419 I said above somewhere. Around $35k a year.
Maybe they should eliminate it since it’s a benefit that can only benefit a few, mostly the wealthy who are already ahead of the game with private schools, college counselors, ACT tutors…
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