<p>So my kid got in her dream school NYU and got to be excited for 5 minutes...until seeing the "offer" of more than 60K in federal loans for a 64K+ price tag...a price tag that will only go up yearly...and then factor in the at least extra 10K that everyone says you have to account for in hidden NYC/NYU costs. So, NYU expects us or our kid to take on a total bill that will exceed 300K? Oh, I forgot the generous merit scholarship offer of $1000 per year, which I assume is given solely so that NYU can add us to their numbers of how many they give aid to. And, on top of that, they moved her to LSP.</p>
<p>And I guess since it is NYC they expect that we will fall for this?</p>
<p>10k+ in hidden costs? What on earth are you spending 10k on?
NYU has been exceptionally generous this year with their aid. Perhaps your child just wasn’t considered to be a top candidate.</p>
<p>No one’s thinking you’re going to “fall” for anything. If NYU isn’t for you, then it isn’t for you. It’s completely unreasonable to think they owe you anything. </p>
<p>Thanks for joining just to respond to this. Might you have some investment here? Anyone we’ve talked to has said “whatever they tell you NYU costs add 10K.” “What on earth” one could be spending extra money on? in NYC? Haha. This is kid NYU accepted. 1K in merit? Why not just be honest and say you have to pay full price? Why pad stats with 1K and “offer” 60K+ in loans?</p>
<p>But you are correct. At 300K+ NYU is not for us.</p>
<p>Friends of mine have told me that their children who attend NYU often work part-time in the city to earn some spending money and that they don’t give them a dime towards that. </p>
<p>I agree that 1K is almost like a slap in the face and it’s almost cheap to say that they’re traditionally stingy. Optimists would say that it’s better than nothing.</p>
<p>I agree that LSP is pretty much only beneficial to those who are on the wealthier side and can easily pay NYU tuition without worrying about whether LSP is worth it or not. I’m sorry that your child didn’t receive more financial aid and scholarship. NYU is notorious for its high price tag, and that reputation is totally warranted - that’s what you get from a school that’s more of an expanding bureaucracy than an institution focused solely on academics (like many other top universities in the US). That’s just how it is, unfortunately.</p>
<p>However, I will dispute that you’ll need $10k in extra fees. I’m an NYU student in CAS, I live in student dorms in a single, I’m on the meal plan, I’m in a sorority, and all that adds up to $61,000 - $61,500 a year. I get $5000 a year for spending money (~$400 a month), I’ve been here three years, and I’ve always spent less than that $5000. The things that I buy include medication, clothing, personal care items, going out to eat, gifts for friends, partying, weekend trips to visit friends at other schools, etc… I’m not exactly stingy and I don’t even come close to spending an extra $10k a year in “hidden costs” on top of the $61k that, for me, covers tuition, housing, food, and Greek dues. </p>
<p>I don’t know if that changes anything for you but I’m just trying to point out that if an NYU student chose to live in low-cost housing (such as a triple in Rubin), abstained from participating in extracurriculars that have dues, worked a part-time job on top of work-study (which is only 2 to 3 days a week), stayed off the meal plan, waived NYU health insurance (in favor of your own), and spent wisely, the cost of NYU would probably be around $60k a year. Still expensive but not the $74k that you think it is.</p>
<p>Anyway, if NYU is your child’s dream school and if what she’s studying will lead to a career that is going to be located in NYC, then I would recommend going to a cheaper school and transferring after one or two years. The internship and work opportunities are simply incredible at NYU, as well as its alumni network. I’ve also found that almost all of my professors are inspiring in that life-changing way, very engaging, and often the best in their fields (I study English, Politics, & Business Studies).</p>
<p>Your child could also try other NYC schools like Fordham. Nothing really beats NYU for location but if she loves the city maybe she won’t mind.</p>
<p>The price tag of 64K+ came from NYU…right on Albert. My kid got in more than a handful of similar quality schools, most with merit from 12 to 16K. 10-12K in merit from NYU would have made a real difference. And it’s good to hear you don’t spend 10K extra, but again I didn’t make up that figure. The price also goes up every year, right? A little late to consider to Fordham since she didn’t apply. And yes, given the total price tag and wealth of the school, the $1000 in merit did seem like a slap in the face…more insulting than nothing at all.</p>
<p>Yeah, the financial aid at NYU really, really sucks. Sorry to hear about your frustration! I’m sure your child will enjoy and succeed in whatever school she ends up choosing!</p>
<p>I beg to differ regarding Financial Aid at NYU. The offer that my DD received is better than the offer that she received from Syracuse, American, Miami and Marquette.</p>
<p>Not to be the mean person here, but maybe NYU is your child’s dream school,but he or she is not NYU’s dream student.</p>
<p>If you received mostly loans and only 1,000 in merit scholarship this says something. You are not considered poor (hence the loans) You may be a part of the population that can afford college. So forget the fact that NYU is 60,000 a year. Remember that you may actually be able to afford other schools that are not NYU. If your child only received a 1000 in merit scholarship, then that also says something. There’s a reason why NYU didn’t offer her a lot of money. They give more money to the students they really want to attend the school.</p>
<p>I hope you understand that this isn’t me trying to attack you or your child. I’m just saying that you have to stop complaining.</p>
<p>I know plenty of students whose parents make less than $20,000 a year. Some even below the poverty line. They cannot afford most colleges. Even trying to pay off community college is difficult. </p>
<p>My parents make less than $25,000 a year and I currently attend NYU. Because of the wonderful financial aid package and large scholarship I am able to attend this school. My first year is almost done and I am not in debt. </p>
<p>So before you complain about the loans you received (which is for a reason) remember, there are families out there who make $5,000 $10,000 $20,000 a year.</p>
<p>HeyleyC, I’ll decide when and if to stop complaining.</p>
<p>I’m glad NYU is treating you well. I’m guessing many other schools would have treated you just as well as better. Obviously my kid was not highly desired by NYU (I guess), but they DID accept her, and comparable schools offered her more than token merit. $1000 is token. As for the loans, no other school “offered” more than 60K in loans. If they believe we can pay that’s fine, but don’t insult us. No other school in fact offered more than $5500 in loans. Who in their right mind in going to pay 300K to attend NYU??? Dream school or not, it’s not THAT great. I could be mistaken, but I don’t think I’m the first person dealing with NYU to complain about the costs and the merit/FA.</p>
<p>Yes, NYU is expensive and they offer most aid to the kids that they want the most. You’re right, it’s not that great for some programs as it is for others. However, Tisch (School of Arts) and Stern (Business) are some of the best in the world and you can make connections like no other environment. Would the loans/money matter if your child could get a GREAT job right after graduation and is able to pay off those loans quickly? But yes, it depends on the program. </p>
<p>My question to you is… did you really not see the price tags of the schools that your child was applying to?? Or did you just expect your kid to land a full ride to this school?</p>
<p>And yeah obviously a lot of people pay 300k to attend NYU because it’s moderately selective and highly competitive…</p>
<p>I don’t get why people feel that they are entitled to FA…college education at a top institution is a luxury, just like a sports car. I don’t walk into a Ferrari dealership and expect to pay less than anyone else because I make less than them.</p>
<p>@finalchild,
Saw the ‘aid’ from Stern and immediately clicked on the decline link hoping someone who can afford can get off the wait-list before May 1.</p>
<p>Ivygolf, we didn’t feel entitled to anything. We fall into a category like many where for various reasons we don’t qualify for much FA. My D loved the school and we were hopeful about merit aid roughly in the range offered by other similar schools. We didn’t get it. So she’ll go to another school. That’s fine. And yes we knew that NYU would be more expensive than any other school. What we did not expect, and what no other school did, is to “offer” more than 60K in federal loans. As I said above, none of the others suggested or offered more than $5500 as an option. So presumably, in making that offer, NYU believes that taking on 240K+ in loans is a reasonable idea. Sorry, but I find that suggestion ludicrous. We are do not have the kind of money to throw around to make that reasonable. So my “complaint” is more how can they “offer” that with a straight face?</p>
<p>Addendum/Clarification: We didn’t expect 40-50K in aid or merit. We HOPED for 10-15 in merit, which still would leave a very healthy bill but one we would have strongly considered ponying up for. No worries. Comparable schools (with less wealth btw) did give us what we were hoping for.</p>
<p>Finalchild, if your name truly reflects your life situation, congrats. At least you won’t be doing this again! My last child is also flying the coop (I do have others that came back. The “boomerrang generation”). Unfortunately, we are also in the financial position that price played a major factor in school selection. The higher tier schools don’t have to attract top students with merit aid (all applicants are top). So we are truly middle class, meaning we make too much for need based aid but can’t afford the schools we would like. our choices were in state schools which are not as great as they once were because of massive budget cuts, or lower tier private schools looking to attract better students. luckily, my S was accepted to a great BS/MD program that is in state so we caught a break. If he wasn’t accepted there, we would have been forced to choose a city or state school instead of private, strictly a financial choice, and that stinks. My husband and I work hard, yet those who make either more, or LESS, get to choose better schools! in short, I hear you.</p>
<p>Just one other thought after reading the threads and being in a somewhat similar position with our daughter. We are still waiting to hear about our aid based on our own screw up in filing our CSS on time. Based on your last note, you mentioned you were hoping for 10-15/year, but the balance of the investment you knew you would have to make yourself.</p>
<p>Based on that, that sounds like a 40-60K decision to you, not a 300K decision. Admittedly, you might need to add to that a bit for the incremental cost to living/eating and drinking lattes in NYC. Just something to think about. Maybe over four years thats not so bad, especailly if this is your daughter’s dream?</p>
<p>Thanks RMKA, but that’s not how we look at it. We are choosing between a 200K decision and a 280K decision. Yes, that’s ONLY an 80K difference, but it’s not as though the first 200K is painless! I don’t think we got for the 280K level of pain even if we were talking about Harvard, and it’s hard to pass up the 200K choices that are just as good or arguably marginally better than NYU. I also think that especially when considering the cost there is a certain risk attached to NYU. Yes, my kid might wildly thrive but there is a risk that NYC will just be too stimulating/distracting, so the cost/risk/reward profile I don’t believe swings in our favor.</p>
<p>Also submitted CSS late. Daughter was offered $60,000 loans and $3,000 work study. I called and emailed several people at FA and they basically said that all FA decisions are final. Also, we were informed that our status will stay the same throughout the 4 years ( over $240,000 in loans).</p>