<p>I was recently accepted to NYU Class of 2016. Although thrilled, I am a bit skeptical about going based on my financial aid package. I received a total of 28,000 dollars in free money, this includes a Steinhardt Scholarship, Eckhouse Scholarship, Provost Grant, and the Pell Grant. By the time I arrive at NYU I will have paid a total of 35,000 (I am currently working). Did I receive a good financial aid package? My parents said they could help me out with 5 grand maximum per year, which means I would have to take out about 12 grand to 14 grand per year. Is it a bad idea to go to NYU? I would be about 48 grand in debt after 4 years, but i'll try to graduate in 3 years to save money. What should I do? Go to a local school or take off? Please HELP!</p>
<p>How are you going to pay or even get these loans?</p>
<p>Are your scholarships guaranteed for all 4 years in the same amount</p>
<p>As a freshman, you can borrow 5500 through the stafford loan process. Did you also receive a perkins loan in your package?</p>
<p>If your family is pell eligible, where is the 5k coming from? will your parents be in a position to take out loans each year to make up the difference?</p>
<p>Hi, please go to the NYU thread in the college section. The first thread is an excellent post on how NYU aid works. Its not pretty (the aid, not the post)</p>
<p>I haven’t received or accepted any loans. The 28,000 is strictly free money. By the time I start I will have 35,000 towards school with the free money included. Since my parents declared bankruptcy I won’t be able to get a PLUS loan and will therefore be able to get up to 12,000 in Stafford and Perkins loans (from what I read on the fafsa website and from talking to a representative). Thus bringing me up to 47,000, the other 5 grand will come from my parents. I will also be working when I get to New York so the money I earn from my job will go towards saving or anything I need while in the city. Is this still too much in loans? Should I just go to UCR, CSUF, CSULB, Humboldt State, San Fran State, Fordham, or Drexel?</p>
<p>I do qualify for Cal Grants and yes I am an instate CA resident. Travel costs are something I will have to save up for while working and I will only be traveling during winter break and when I come back for the summer. I’m not sure how much I will have to take out for a CA public school since they haven’t given me my financial aid package For now I guess I will have to wait since decisions for the UCs will be out starting tomorrow. The other UCs I applied to are UCLA, UC Irvine, and UC San Diego.</p>
<p>I would suggest you wait and see how the UC schools do. They are excellent schools. I know the grass is always greener…but lots of east coast kids would LOVE to attend those schools at instate prices. Adding int the Calgrant makes them a very good value.</p>
<p>Yea, but that’s the thing… I didn’t fill out the Cal Grant application because I thought “Hey I’m going to NYU anyway and I have to drop all of my other apps” and now i’m seriously regretting not submitting it. I’m sure that it will still be cheaper even without the cal grant, but I feel like unless I get accepted to UCLA or UC Irvine then I won’t think twice about going to NYU. But there’s always that what if… I’m stupid.</p>
<p>Are you contributing some “saved money” towards college this year? It sounds liike you are. You’ve got $28k in free money, but you say that you’ll arrive and have paid $35k. Where is that other $7k coming from?</p>
<p>if that $7k is coming from YOU and savings, then how will you have that again for next year?</p>
<p>Even without the Cal Grant app, I think you’d still get Blue and Gold promise since it looks like your income qualifies. So, UCs still may be cheaper for you.</p>
<p>Yes I got accepted Early Decision to NYU and because I haven’t cancelled all the other applications. I’ve sent them all e-mails and to this day they still send me notifications about going to their school. Mom2collegekids I will only have 7 grand for the first year which means the next two-three years will be slightly harder for me. I’m starting to realize maybe NYU isn’t the best choice.</p>
<p>If you submitted FAFSA and if your school submitted your GPA before March 2, that would qualify as the application for Cal Grant. Do you know for sure if your school did not submit your GPA?</p>
<p>Blue and Gold promise does have the qualification stipulation that one must have applied for Cal Grant. If GPA wasn’t submitted to CSAC, then you wouldn’t be able to get Blue&Gold either :(</p>
<p>My counselor submitted my gpa in mid February and I submitted my fafsa the day it became available haha I’ll call to verify So is NYU now just a dream like so many others have made it seem?</p>
<p>adrian…you need to find out the status of the Cal Grant or you may find that the other schools are a financial reach as well.</p>
<p>If so…there are MANY students in CA who start at their local CC and then transfer to one of the UCs or Cal States to finish their degrees. You WILL have a college option…you just need to determine which is the best for you.</p>
<p>You need to discuss this carefully with your parents. NYU is costly…and you would have significant loans, it seems. Please have a discussion about your college finances with your parents ASAP to help you best make your college matriculation decision…which sounds like it will have financial considerations as part of the decision making process.</p>
<p>Your family is low income…and even coming up with $5k per year may be iffy. they may be being overly-optimistic. That’s about $400 a month for 48 months. that’s a long time for a low income family. Many things can “pop up” during those 4 years which would require that money (a dental emergency, a major car repair, car replacement, appliance purchase, etc, etc)</p>
<p>You’re going to have a short-fall soph thru senior year. Plus, NYUs costs will rise during that time.</p>
<p>And, what about travel costs??? Traveling to and from Calif is expensive! One way tix for fall and spring, and round trip tix at Christmas! how will those get paid?</p>
<p>And, your parents won’t qualify to co-sign loans if needed.</p>
<p>Call the UCs and see if you’re on track for B&G and Cal Grants.</p>
<p>NYU is unfortunately just a dream for most. It’s a school many fall in love with, but they just don’t have the money to give most what they need. That most kids don’t get to leave their community or state for college is something many don’t realize.</p>
<p>I think you got a relatively generous package from NYU but you will in all likelihood be in $80 to $100K in debt by time it is all over. You are being optimistic about your costs - New York is a very expensive city. There are other universities that are probably in the position to give better packages. Good luck.</p>
For now I guess I will have to wait since decisions for the UCs will be out starting tomorrow. The other UCs I applied to are UCLA, UC Irvine, and UC San Diego.</p>
I’m stupid.</p>