NYU Tisch Financial Aid (Transfers)

Paying for College
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<p>Interested in anyone's experience with Tisch Financial Aid. Son has been accepted as a sophomore transfer, but probably well beyond our reach. EFC of $2067.</p>

<p>He was rejected last year, but the Clive Davis Program remains his dream even though he had a great experience this year where he wound up.</p>

<p>He told us Tisch has offered him a scholarship ($5,500) but the bulk of his package was a $55,000 PLUS loan. (We have been declined for PLUS loans each of the past 5 years based on our financial circumstances).</p>

<p>Anyway, I though that must have been a mistake, as he didn't mention the traditional student GSLs.</p>

<p>Turns out it was no mistake -- in addition to the $5,500 scholarship, his package has an estimated TAP grant of $500, Federal Work Study of $3,000, $2,400 Perkins Loan, $3,500 Subsidized Stafford, and a $2,000 Unsubsidized Stafford.</p>

<p>The real explanation if that the Tisch tuition and fees for 2014 are $68,496!!</p>

<p>This is unbelievable to me, and we're pretty jaded by now, having two graduates in the past two years. We've never seen anything more than the mid-$50s to date.</p>

<p>Anyway, I don't see any realistic chance of him attending, and he would be foolish to do so given that he has basically a free ride already at his current Top 15 University. </p>

<p>But I would still be interested in anyone's fin aid and other experiences with NYU generally and Tisch specifically.</p>

<p>Thanks.</p>

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<p>I don’t know about Tisch, but NYU as an institution is famous for offering excellent financial aid to a very small number of students that it desperately wants, and lousy aid to everyone else.</p>

<p>NYU-Tisch is not “probably” well beyond your reach, it IS well beyond your reach. There is no way for you to come up with that kind of money, given the information that you have provided here. It is OK to feel sad for a couple of days, but don’t over-indulge that emotion. NYU-Tisch is not worth it. Your son has an essentially free option where he is happy (enough) now. He’ll be even happier when he has finished his education with no or minimal debt, and is out in the world living the life of a starving artist.</p>

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<p>[I’m&lt;/a&gt; Graduating From A College I Can’t Afford | NYU Livewire](<a href=“http://journalism.nyu.edu/publishing/archives/livewire/money_work/gen_debt/]I’m”>http://journalism.nyu.edu/publishing/archives/livewire/money_work/gen_debt/)</p>

<p><a href=“Another Debt Crisis Is Brewing, This One in Student Loans - The New York Times”>Another Debt Crisis Is Brewing, This One in Student Loans - The New York Times]Placing</a> the Blame as Students Are Buried in Debt</p>

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<p>If you have the time and the sordid interest just do a search for “NYU” in this forum. You will turn up a mountain of reading. Nearly all the threads begin with a post very similar to yours.</p>

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<p>This is a good article too:
[NYU</a> Students: Debt and Debtor - Page 1 - News - New York - Village Voice](<a href=“News & Politics - The Village Voice”>News & Politics - The Village Voice)</p>

<p>

</p>

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<p>These are great comments, thanks all.</p>

<p>I don’t want to sound bitter (I really didn’t WANT my son to go to NYU) but it really seems like NYU is designed for people with more money than sense.</p>

<p>Something is very wrong there.</p>

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<p>NYU has a very aggressive business model. I have read recently that they are now, after much public criticism about staggering student loans, giving students a modicum of advising prior to the students taking on unconscionable amounts of debt. Something like the adviser saying “Now think carefully before you borrow this much.” That’s a step in the right direction I guess, but of course in reality they want to see the big money keep coming in so they can keep buying up entire blocks of prime Manhattan real estate.</p>

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<p>I know of some kids who did get their best deal from NYU. They were top picks for the school, and so their financial aid package was flush. In prior years, some kids who had NCP found the school a God send, as it used to use FAFSA so if you got lucky with aid there, you would get a LOT more money than those peer schools that use PROFILE and want the NCP info. </p>

<p>The way it works with NYU, is that they are need blind in admissions. So every and anyone can have an equal chance of getting accepted. Getting the money is a whole separate process, and they do not meet need for most people. If you are one of the minority for whom they did meet need, all is good. Other wise you either come up with the money somehow, through loans, sell the family home, get a relative to pay, etc, or you can’t come. A great school for internationals who can play it both ways. Apply as poor and magically come up with the money if accepted with no aid, but get aid if they win that lottery. </p>

<p>This can happen in any number of schools where one can get gapped, but NYU also has the distinction of being among the most pricey schools, so when they gap, they can gap big time…</p>

<p>It’s a matter of opinion as to which is preferable. To have a school decline applicants for whom they cannot or will not meet need or close to it or have a school operate on a need blind basis, and it is up to the applicant and family to come up with money if the school chooses not to give aid.</p>

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<p>I’ve just never heard of a school with that sticker price, or anything close. I wonder how many others there are out there?</p>

<p>With tuition, it always seems like a “race to the top”.</p>

<p>Truly insane…</p>

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<p>Oh, there are a number. All of the ivies, a lot of the national universitiies, and a number of the private schools. The word out there is that many of them are not getting that sticker price from the majority of their students.</p>

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<p>Just a quick follow-up on our Fin Aid experience. Son’s total anticipated cost to attend was $68,496.</p>

<p>Financial Aid package covered exactly 25%, 8% of which ($5,500) was a Tisch Scholarship. The rest was GSLs, work study and a $500 TAP grant.</p>

<p>The remaining 75% ($51,596) was not covered.</p>

<p>We did ask for a review, and explained that S’s package at his current school covered 94% of his total costs of attendance, exclusively with scholarships and grants – no loans, no work study.</p>

<p>Not that we would expect NYU to fund anything to that level, but it at least was an indication of how little we can provide toward S’s education.</p>

<p>Finally spoke with someone at NYU’s FA Office yesterday who said the awards are basically set in stone, but that if S did enroll for the Fall he might be able to appeal for more aid in the Spring.</p>

<p>Not happening, naturally.</p>

<p>Not to be ungrateful (NYU owes us nothing), but I can see why its endowment is so relatively small. How many grads leave with warm fuzzy feelings of generosity, and how many with an enormous debt load and a lot of resentment?</p>

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<p>

Good that you didn’t fall into this trap.</p>

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<p>

I don’t see how anyone can “resent” debt they willingly and knowingly took on to go to pricey school any more than one can “resent” the car loan taken out for a Maserati. And to the extent it’s Parent Plus debt, it was taken on by adults who have been dealing with financial matters for many years and can’t pretend ignorance of the concept of debt.</p>

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<p>Glad to know you didn’t take on this much debt. </p>

<p>Schools are good at selling the dream to anyone who wants to pay for it. The problem is a lot of people (not all) view student loan debt as the greatest thing that ever happened to them. It allows them to live their dream, but unfortunately once reality hits (usually after graduation) they realize they were ripped off.</p>

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<p>Really glad you were smart about this. I’m just sorry that they collect as much in applications fees as they do given their policies.</p>

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<p>A reason why NYU can’t give out more competitive aid packages to students as peer schools do is because their endowment is so small. </p>

<p>I’m glad you were sensible about this. Way too much debt to take on for a performing arts major, I can assure you.</p>