<p>In the case of NYU and this student, I don’t think it’s going to matter much in the long run whether or not the school requires NCP info. </p>
<p>I think NYU’s calculator is way overly optimistic and has an assumption of merit scholarships and institutional grants which are very iffy at NYU. NYU’s own website states that only the top 5% get merit…and not for every college. Yet, the calculator seems to assume that each student is a top 5% student.</p>
<p>If this student is just a strong student without being top 5%, it’s very likely that ll he’ll get is federal aid…and maybe state aid if he lives in NY. So, he’d need to borrow $40k+ per year.</p>
<p>Anyway, it doesn’t sound like either of his parents would qualify or agree to co-sign these loans. Even if his dad qualified to co-sign the first year, there’s no way to know whether he’d qualify for the later years. </p>
<p>This student has underestimated the “pain” involved with paying back those loans for the first 10 years after college. We’re not just talking about some lesser cutbacks like no vacations or new cars. We’re talking about not being able to pay your rent, buy food, or buy the business attire you’d be expected to wear. Think you’re going to got to work everyday wearing the same cheap $100 suit? Just to purchase the necessary wardrobe for Wall Street work requires thousands of dollars for good suits, shirts, ties, shoes, overcoat, etc.</p>
<p>Do you have any idea how much it costs to live in NYC? And, you get to pay for it with AFTER TAX earnings…Your taxes will be high for a single person with no deductions.</p>
<p>OP, I don’t understand, why then you are saying that your mom agreed to pay custodial share of your college expenses? Why there is a court order if there was no divorce? I would imagine you might qualify for single parent filing, if you are born out of the wed lock, but I have no experience in fafsa and css profile in your case. This is what you should look into.</p>
<p>@mom2collegekids I get what you’re saying, and again, I was just trying to get info the whole time. You’re correct I underestimated the “pain” involved with the loans. Do you know why? Because I didn’t know, which is why I posted this in the first place. I fully understand now.</p>
<p>@artloversplus I don’t want to go too much in detail, but the court documents have to do with the custody of me to which parent, the amount of time I spend with them, child support, and who pays for what expense, etc. So yes I was born out of wedlock. I’ll try and look into it, but I’d like to hear from the people that posted earlier in this thread saying that I have to have both parents information, because they seem to know more than me on this issue.</p>
<p>The fact that your mom pays child support is enough for you to not be eligible for a non-custodial waiver. Even the courts will not make your mom pay $25,000 a year toward your tuition if they believe that she does not have the income and assets to do this without loans.</p>
<p>Lots of good info for you on this thread. You are 15 years old. If you run around making statements that we only eat walleye in the midwest you sound even younger than 15. As you think about colleges over the next year or so broaden your horizons. You are drinking the KoolAid if you think you’re going to make a vast sum of money before you are thirty so think about Chicago, think about Atlanta, think about Philadelphia, Boston,Dallas and other major metropolitan areas if you desire to be among tall buildings and cement…there is more to life than New York and NYU is expensive so, sure, have it on your list but expand your mind from now until you are 17 or 18 and you are at the doorstep of application season. Keep reading this forum, there are many good suggstions for schools outside of the brand name ones everyone knows about. And get the best grades you can the next couple years. There are also other colleges in and around metropolitan New York other than Columbia and NYU. And yes, you would be very wise to have a few FAFSA only schools on your list which will only examine your custodial parent income and assets.</p>
<p>I might have been too harsh on you. As I said before you are young and in a lot of earlier threads you sounded very arrogant and overly materilistic. I actually appreciate your polite response to my harsh post. </p>
<p>@momofthreeboys If you even think that I said anything even close to,“that we only eat walleye in the midwest,” then YOU sound younger than 15. Go back and read what I said. (In my opinion) The only good EXCLUSIVE food in the AREA of the midwest that I was in, was walleye. Yes, I feel the need to capitalize as you obviously were oblivious the first time I read it. The fact that you said that was like when (Insert major news station here) takes a little snippet of what some one from their opposing political party says, and makes it to sound like something completely different. </p>
<p>Okay, with that said, I agree with you, there is plenty of info in this thread now, but there wasn’t when I first posted it, there was none, which is what I keep referencing (I.E. “The point of this thread was…” Not “I’m sitting here wondering what all of this info means after it was given to me”). Yes, there are other cities with major financial districts, trust me I’m thinking about them, and they’ve been in the back of my mind this whole time, but where I want to go is NYC, but the other cities will always be another option. Are there a lot of finance jobs in the other cities? Yes, but where are there the most? Manhattan. Where am I most likely to work if the most jobs in finance are in Manhattan? You guessed it, Manhattan.</p>
<p>I apologize that I sound like I’m being rude in the first paragraph, but you sounded rude, and ignorant to what I actually stated (in my post), in your post, so I felt the need to be rude in mine.</p>
<p>Ok I’ve decided to resurrect this post because I’ve heard something that most of you guys probably don’t know. Apparently I can get New Jersey Plus loans that pay for just about all of my college. Even if I go to school at NYU, as long as I’m a New Jersey resident, I am eligible for these “Plus” loans. My uncle said that this is what all of my cousins got, including my cousin that went to Northeastern, which was $40,000+/year when she attended. So does anybody else have experience with these “Plus” loans? I don’t know if New Jersey is the only place that has them or not, so you might need to look them up to find out how they work.</p>
<p>You, are not eligible for a PLUS loan. Your parents are eligible for a plus loan based on their creditworthiness. This is nothing new because any parent, who is credit worthy enough to borrow the money can borrow up to the full cost of attendance through a PLUS loan regardless of where they live. the trick is paying it off. IS your dad willing to pay back almost 150k?</p>
<p>Yes you would be eligible for the NJ Class loans as a resident of New Jersey. That doesn’t mean, however, that you can take out an unlimited amount. Every year you would have to reapply, and your credit would be re-evaluated. In fact, you also need a co-signer, so your co-signer’s credit would be re-evaluated. </p>
<p>I have not visited NYU, but, gosh, I admire your spirit for willing to go into massive debt for a large portion of your life to go there. Wow. I am not being mean spirited it is just amazing to me the level of financial and personal sacrafice you are willing to withstand for NYU. It seems to me you are bearing all of the risk and sacrafice while NYU bears no loss whether you manage or fail. If you are a religious person, I would tell you to pray on this for a year, if you are not a religious-bent person I would say meditate on this year… </p>
<p>I am not sure if you are interested in other options, but I wanted to post of a list of colleges that meet your full, or a lot of it, financial need. It might be worth it to highlight a few and pay them a visit. For kicks. </p>
<p>@HomeschoolNewbe Debt is part of life nowadays, as I stated, my cousin went to Northeastern and she has to pay off all of her loans, she is doing fine. If I want to get a good job in finance, I probably have to go to a good college, or at least my chances are greatly increased, that’s how it works. As for the specification of NYU, at this point I’m just using it as an example of a school that’s expensive. Whether it be NYU, Northeastern, Fordham, or even Wharton, for example, it’s going to be very expensive, nonetheless. I’m not willing to sacrifice anything just for NYU, but for a good college, and a good job, I am. NYU just happens to be one of the top schools, that’s not insanely difficult to get accepted into.</p>
<p>kbecker, I guess that is my point. Debt does not have to be a part of your life. You are actively choosing it. I implore you to reconsider the path you are choosing. </p>
<p>On the flip side, if you must go to only NYU, keep your GPA as high as possible, start practicing for the SAT as if your life depended on it, have amazing recs and extracurrics… do your best to make NYU want you enough… for them to pay for it.</p>
<p>Not if you choose it not to be. My sister has been an undergraduate for 7 years, worked full time the whole time, and will graduate this fall or next spring without an cent of debt. It is possible, you just don’t like that route.</p>
<p>I was just checking out NYU’s fin aid calcluator and I got the exact same results as the OP! My financial situation is quite different, but I’m somewhat surprised that our cost of attendance would be the same. Weird. I guess nyu’s just a cheapskate.</p>
<p>Kbecker, go right on ahead and apply to NYU and any other school you like. Just make sure that you also have some school on your list that you know will accept you and that you know you can afford with no “ifs” or 'buts" in the picture. I have seen kids get their best aid package from NYU, and who knows, your mom might send you a check for $30K each year for the cost of college without a murmur. Then all would be good and you have your dream school. </p>
<p>But, like many other kids on this board each year, and many more out there, you can be sitting there with a list of acceptances with insufficient funds to make any of them a go and no one willing to cosign or borrow for you the amounts needed for you to pay for college. When it comes time to pay, that is when ti gets tough. You don’t want to be with no alternatives for yourself and have to scramble for what’s left. Better you look around and find some good possibilities and understand that if the planets align up just right, you might be able to get into an expensive, highly selective school. You can also win the lottery, if you play. You gotta play to win.</p>
<p>Any of those calculators are just best guesses. Wonderful if they work, but disastrous for you to count on them. Take it all with a grain of salt. In fact, get a salt shaker! And throw some over your shoulder for good luck!</p>