<p>I recently got my financial aid summary from NYU:</p>
<p>TAP: 5,000
LSP Scholarship: 10,000
LSP University Grant: 3,290
ED Pell Grant: 5,550
ED Work Study: 3,000
ED Perkins Loan: 2,400
ED Stafford Loan: 3,500
ED Unsub Loan: 2,000
ED PLUS Loan: 9,560</p>
<p>My EFC is 0 and I am not sure if this includes dorm and housing. I was accepted into the LSP program. The problem is that I will have to take out approximately $18,000 in loans freshman year and chances are, I will have to take out more each subsequent year because the tuition will increase. Also, my single mom is very hesitant to take out the PLUS loan because her income is not substantial.</p>
<p>I just wanted to know what you guys thought. Do you think it is worth for me to go, considering our low-income and the fact that I got into the LSP program and not a college itself? NYU is my DREAM school and I'm hoping to transfer to the College of Nursing after completing two years in the LSP program.</p>
<p>*The problem is that I will have to take out approximately $18,000 in loans freshman year and chances are, I will have to take out more each subsequent year because the tuition will increase.</p>
<p>Also, my single mom is very hesitant to take out the PLUS loan because her income is not substantial.*</p>
<p>Your mom is right to be VERY hesitant to take out that much in Plus loans each year. She may not even qualify for these loans in subsequent years.</p>
<p>It sounds like you would be expected to pay back all of these loans. Is that correct?</p>
<p>$80k in loans is waaaaaaaay too much for a nursing career. Even half that much is too much. </p>
<p>$18,000 each year in loans is about $12,000 too much each year. You can’t afford NYU. You need to find a less expensive college or university.</p>
<p>It is OK to feel a little sad, because NYU was your dream school. But after you finish that box of tissues, turn down NYU’s ridiculously lousy offer and go find an even better dream for yourself!</p>
<p>NYU has an unfortunate tendency to gap prospective students-- they are rather infamous for the enourmous loans students have to take out. $72,000 in debt is SO MUCH debt for undergrad, even for your dream school, it is simply not worth it. I would tell them no, If I were you. No school is worth 72K plus interest in private loan debt.</p>
<p>tuition and fees as sa commuter student is $40,082 (there is a different tuition charge for stern and tisch.</p>
<p>No, your package does not cover dorms.</p>
<p>No this is not a financially feasible option for your family. it is time for you to dream a new dream. Did you consider Stonybrook or Hunter for Nursing?</p>
<p>I do not think it is worth going into debt to go to NYU especially for nursing. Nursing is one of the fields in which it makes little difference where you obtained your degree. Also as mentioned in one of the prior posts there are less expensive programs many of which provide excellent training. Hunter’s program(CUNY) is excellent. You get experience in many of the top city hospitals. Therefore, it makes little sense to incur significant debt.</p>
<p>I was also recently accepted to Case Western University, with a $17,500 Bolton Scholarship. It’s a good school for nursing. But I’m waiting for the full financial aid summary.</p>
<p>Thanks, guys. I think I’m going to reject NYU.</p>
<p>Case Western isn’t known for giving great aid either. It also costs over $50k per year. It may just give a 5550 Pell Grant, loans, and work study. I don’t think you’ll get a TAP grant there since it’s not in NY.</p>
<p>As others have said, you have to move on to your financial safety. This is ridiculous offer for someone who has a EFC of $0. Yes EFC may be a little higher in the institutional methodology but even with that, this is not a feasible package. NYU has a well deserved reputation for lousy FA packages.</p>
<p>Very smart decision on your part! You should be proud of yourself for making a smart financial decision. You will so grateful for your maturity at this young age, when many of your peers are making emotional rather than rational decisions, in the years to come. When you own a car, own a home and have money in the bank, you will thank your 18 yr old self for this great decision! Best of luck to you and congratulations on your smart decision making!</p>
<p>*When you own a car, own a home and have money in the bank, you will thank your 18 yr old self for this great decision! Best of luck to you and congratulations on your smart decision making! *</p>
<p>So true!</p>
<p>Did you apply to any SUNYs or CUNYs that have a good nursing program?</p>