<p>My kid received a scholarship from NYU, which was quite a pleasant surprise, since our EFC is not low. However, it does not state that it is renewable, as with other offers that we got. The NYU website states that they are as long as "You have approximately the same amount of financial need that you had in prior years". Well that is very subjective. My concern is that we will have 2 in college for two years. But I wonder if they will reduce the amount when we only have 1 in college? Does anyone have any experience with NYU?</p>
<p>In their FAQ’s NYU states that you must apply for FA every year, even if you have scholarships</p>
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<p>Your best bet would be to contact NYU financial aid office and get an answer in writing. NYU’s “new financial aid policy” using the profile and the non-custodial profile is very new (this is the first year under this new policy). </p>
<p>Since they are using the institutional methodology, when in the past for a lot of years they only used the FAFSA (and gave horrible aid), you definitely need to find out how your child’s aid will be affected when there is only one child in college.</p>
<p>As of right now, with the scholarship, has NYU met 100% of your demonstrated need?
IS their scholarship based on merit or on need?</p>
<p>If merit, what are the qualifications to keep the scholarship?</p>
<p>Thanks, I will call, I would be shocked though, if they put it in writing. I think it is by design that they dont put in in writing, so that it can be changed. I am very hesitant to base 4 years, on a scholarship that is not guaranteed.</p>
<p>Do you qualify for financial aid from NYU? NYU does have some purely merit scholarships. about 6% of NYU students, 1234 of them qualify for merit awards that are not need based, and in fact that stat is for those who get zero need based aid from the school. The average of such grants is $7253. If your DD got one of these, then it is not need based, and may be renewable. If she qualified for financial aid and the grant is part of that, then yes, whatever given to her will be reduced when the need is.</p>
<p>no, we do not qualify for any need based aid(pell, etc). I still think it is odd that they dont put it in writing. We have full tuition offers from 3 other schools, and it is clearly spelled out that is renewable for 4 years, as long as the required gpa, and academic progress is maintained. My other child in college, also has a small 4 year renewable scholarship, that was clearly outlined. </p>
<p>I have scoured the NYU website, and it only says this regarding scholarships</p>
<p>"Typically you will continue to receive for subsequent academic years the amount of scholarship you received for your first year (subject to the availability of funds), as long as the following criteria are met:</p>
<p>You are a full-time student (at least 12 points).
You applied for financial aid on time.
You are meeting the Satisfactory Academic Progress standards.
You have approximately the same amount of financial need that you had in prior years.</p>
<p>Its the last line that worries me. Once my other child graduates, clearly I wont have the same “need”.</p>
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I think it is highly probable they will reduce your aid when your other child finishes school.</p>
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<p>No, you don’t qualify for need based aid if your EFC is =/more than the cost of attendance at NYU (full freight payers). Pell is federal aid, it simply means that your EFC is higher than ~6k.</p>
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<p>One way that worked for me was to email rather than call. D2s school is very good about responding to FA emails, others may not be, but it could be worth a try and if NYU doesn’t respond in a couple of days, call instead.</p>
<p>Most of NYU’s grants and scholarships are need based, so yes, if your need changes, there will be changes in the amounts of aid. That is standard for need based grants. The big question is whether your DD got need based aid or purely merit based grant money. Are you going to have to submit FAFSA or PROFILE each year to determine whether you get this money or not? </p>
<p>Call them and ask. That you did not get other aid is not an issue here. The question is whether you were eligible for need and whether that is what was part of the determination as to whether you DD got the money or not. If it didn’t come into the picture, then is not a need based award, but there are some merit awards that are just for one year too. YOu need to find out if the award is going to be renewed and what the conditions are, whether they are FAFSA based or GPA based or automatic.</p>
<p>Thx for the replies. I alreadyknew the questions to ask the FA office. I only posed the question, to see if anyone on here had experience with NYU specifically. The money given was a a Tisch School scholarship, NOT a grant. As I said before, typically with scholarships, a school spells out the terms/renewal requirements, in this case they did not. In my experience, if a school is not automatically renewing it, and its not spelled out, I can bet they are basing it on need, and not merit, however, since it was Tisch, it may be merit based. At any rate, before I even consider sending there, I have to know whether it is renewable, and quite honestly, I dont think they will give me an answer in writing, but who knows, its worth a shot. I do know that our “need” will change in two years, because my other child will be out of school.</p>
<p>IIRC, NYU also calls their grants- scholarships.</p>
<p>Their named scholarships have gpa requirements for renewal</p>
<p>its also odd, they only require the CSS profile for new students, after that you only file the fafsa.</p>
<p>partyof5, we were given money far above what would be considered our need. Kiddo received one scholarship based on merit and not need. (We were informed of the merit scholarship weeks ago.) But the other money (the college scholarship) alone covers 100% of need. Kiddo will be able to attend NYU for only a few thousand a year. So, to my surprise, they didn’t use merit aid to reduce financial aid.</p>