<p>I am honing in on this thread in an effort to try to find out what kind of fin aid NYU gives, because my nephew, a junior, REALLY wants to go there.</p>
<p>I don’t even know if he would get in–but IF he does, I was hoping to find out how his financial aid would work out–parents make about $45K year.</p>
<p>Any ideas of a ballpark?</p>
<p>i got $27,000; $3,000 work-study and the rest are loans!</p>
<p>@westcoastmom I know that the income that got me this aid was around 30 to 34 thousand, so his aid might not be any better than what I got. </p>
<p>@ric that’s a good package, I would say. I am going to appeal and try to get what you got. That would make a huge difference, and seeing how my mother makes a lot less than what we reported, maybe they’ll give more.</p>
<p>Again, does anyone know if housing is included in this? that would not be cute if I have to add around 10,000 of housing ontop of this bill.</p>
<p>fhasel,</p>
<p>I’m not sure what bill you have been looking at. All I can say is that sonny’s total bill for 2010-201l is around $58,000. Includes tuition, registration and misc. fees, meal plan (175 flex min. plan required for freshmen in traditional dorms), housing. No medical insurance fee since he is covered by us (that is another $500 a year?).</p>
<p>west coast mom, NYU generally does not meet full financial need. Lauli above got a great package and will likely be one of the better packages we will see around here. (Occasionally, you will see someone with total $30,000+ grant and then additional loans, subsidized and unsubsidized, but this is the rare occasion. Based on reading these threads since last year.).</p>
<p>I received, in total, 20K in scholarships and 3,900 for the grant.
Is this this the merit based scholarship or is it just the need based scholarship? (if that exists)</p>
<p>@fhaselroth if you said you needed housing then it does include everything (tuition, housing, meal plan) also, you might even pay less if you dont need the insurance, choose a lower meal plan (they automatically give you 14/wk but I lowered to 10 and its perfect), and also if the dorm you choose costs less. i think they assume the housing will be like 12,000 or more but some dorms (lct’s for example) cost much less.</p>
<p>I’ll try to break it down for everyone a bit, coming from the perspective of an NYU student paying for school entirely on my own.</p>
<p>Facts:
<p>If you have more questions, go ahead and post them, I’ll do my best to answer them as quickly as possible but most likely after the 21st, finals will be done by then.</p>
<p>We called the financial aid office. Even though we haven’t filed the FAFSA yet (you can’t until January 1st) we used a EFC calculator, and it was roughly $4,000. Apparently that’s too much and there for I don’t qualify for ANY grants what so ever. WHAT SO EVER! They just told me to apply to all the scholarships I could in hopes all the loans wouldn’t be that bad. </p>
<p>The worst part is, I’m still not 18, so some of that $4000 is due to the child support my Dad gives us… but I’m not going to be getting child support when it comes time to pay NYU! Sigh… Right now I’ve got $7000 from NYU, and the rest will have to be outside scholarships and loans. Fun.</p>
<p>I’m a little upset, but NYU’s my dream school and I’m lucky to have even been accepted, so oh well. I’m just still so excited I got in! Woohoo! Again, congrats to us all!</p>
<p>PROFILE OF 2008-09 FINANCIAL AID Freshmen </p>
<p>Financial Aid Applicants 3,004 (67.2%) of freshmen
Found to Have Financial Need 2,390 (79.6%) of applicants
Received Financial Aid 2,342 (98.0%) of applicants with financial need
Need Fully Met Not reported
Average Percent of Need Met 71%
Average Award $26,287
Need-Based Gift Received by 2,298 (98.1%) of aid recipients, average amount $19,120
Need-Based Self-Help Received by 2,207 (94.2%) of aid recipients, average amount $7,987
Merit-Based Gift Not reported
Merit-Based Gift Received by 244 (5.5%) of freshmen without need, average amount $6,683</p>
<p>@docks , how are you paying for NYU?
I have a stingy father to match a stingy financial aid program, unfortunately. My dad would be able to pay a large percent of the PLUS loan my mother would have to get. (He lives abroad and cant take out the loan himself.) However, I feel like I have to convince him to do it. Right now I am trying to cover all ‘worst case scenarios’ incase I don’t receive any help from him. </p>
<p>My mother doesn’t want to take out the 20,000 loan unless my dad agrees to pay her each year that amount.</p>
<p>So essentially I could be facing not being able to go. </p>
<p>I could try taking out a private loan, but I want to go to graduate school and I don’t see that happening with a debt of more than $100,000. </p>
<p>How do you manage on your own?</p>
<p>I have PLUS loans in my father’s name. I’m the one facing the entire bill, but when it came to whose name was on it, he put an honor agreement between us and I’ve always known I’d have to pay. I got roughly 40-45% from the school, the rest is out of pocket. This year I’ve been able to secure a number of external scholarships for school so I expect to have to do less, but now that I’ve turned 18 I’ll be refusing all the loans the school offers and taking private ones in my own name to cover whatever NYU + external do not.</p>
<p>It’s rough. I understand that, believe me. In my mind it was definitely worth it so I did it, but I realize some may not be able or willing to risk that much money on an education.</p>
<p>is there anyway that I can repeal my financial aid package to get more aid? I got $23,000 and I understand that that is a good package for nyu, but I’m super broke and need as much help as I can get.</p>
<p>laulirich,</p>
<p>The short answer is probably not. Once they determine your package, unless there is drastic change in your financial circumstances, e.g., a parent just got laid off, they will budge very little. Maybe $1000 or 2000, if that, and if you are lucky (based on previous posts and my contact with the financial aid office on behalf of sonny).</p>
<p>If you do have drastically changed circumstances or changed finances since submitting your FA application, there is a section in NYU Financial Aid Office’s website where you can find and print out a form explaining the special circumstances and submit as an appeal for more award money.</p>
<p>evolving: nyu is a cheapskate:(.
another question: If I still have debt from my undergraduate studies, will I be able to pull out more loans for grad studies?</p>
<p>hellodocks – even over the age of 18 you will most likely need a co-signer for loans in your own name (with the exception of the Stafford Loans, and Perkins [if you qualify]).</p>
<p>laulirich,</p>
<p>I know. I am sorry for so many students, including my own son, who have to pay so much with or without aid/ scholarships for a college education. Especially back-breaking when graduate expenses are added to undergraduate costs.</p>
<p>You most certainly can apply for more loans for graduate school, in addition to undergraduate loans. In fact, certain types of loans, the Stafford, for instance, appear to allow for deferment of repayment on the undergraduate debt, if you are at least half-time in graduate school, until graduation from grad school. These often have a 6 month grace period. Keep in mind not all loans allow for deferment of undergraduate loans if you go onto graduate studies. IT IS VERY IMPORTANT to check the terms and conditions of the particular loan(s) you apply for.</p>
<p>does anyone know if we have to accept/decline the financial aid offer NOW or after we file the FAFSA in january?</p>
<p>After the FAFSA. I’m pretty sure even if you try to accept/reject now, it’ll tell you the same thing</p>
<p>I got a $15,000 scholarship and the rest in loans–a total of $55k. I’m debating whether or not to distribute my college savings (about 67k) between first and second year, so that I don’t accept all of the loans to begin with. Thoughts?</p>
<p>I don’t think you should. If you or your parents are denied a loan later on, you want to have the means to finish. Not that this should happen, but still.
When it’s time to make payments, you might also want to have that money to make it less stressful after you graduate. You can make adequate payments and watch out for interest. I’m not too familiar with it all but these are some things that come to mind in your situation.</p>