<p>I'm really sorry if this question has been asked before, or if it's obviously stated in the FAQ on the financial aid website. I couldn't find anywhere that discussed it, so I thought I'd asked. I've potentially found a way to cut my costs at NYU by moving into an apartment off campus. However, my EFC is 0, and I get somewhat reasonable (but still far from affordable) financial aid because of this. If I move off campus, will my COA be changed, and will my NYU aid package be affected? </p>
<p>I am an incoming sophomore at Stern and I’m in the same exact situation looking for off-campus housing (EFC is 0 for me as well) and I have the same question as well! :)</p>
<p>My d’s financial award stated that it was based on an assumption of on-campus housing. My guess is if you don’t stay on-campus, NYU will reduce the amount of your aid. That was our impression anyway.</p>
<p>I tried to google the COA info that NYU puts out every year, somehow I can’t find it. I think NYU tries to keep it a secret and then only pulls it out when they need to once a year. Anyway, I seem to recall they listed the COA for off campus housing students as only a few thousands less than on-campus students. So it wouldn’t really affect your FA that much. You can always call the FA and pose the question as a anonymous person.</p>
<p>Off-campus and on campus COA appear to be considered the same amount in NYU’s estimated budget. What differs is the budget for housing expenses when calculating expenses for on campus/ off campus students vs. commuters.</p>
<p>Probably best to contact the FA office directly to find out what budget they use to calculate FA for off campus, though it looks like the NYU posted estimated budget is the same for off campus and on campus students.</p>
<p>The above edited link should come up with the info I think milkandsugar was looking for.</p>
<p>evolving, thank you. I never find that info. 2 years ago, they had three different columns, on-campus, off-campus and commuter. I’m glad they combined it. My D wuill be contemplating off-campus housing when she is a senior.</p>
<p>Thank you guys very much for this. I was looking for that exact link as well, to see if it specified. I’m wondering because one of the students I’m planning on getting an apartment with’s parents are willing to cover up to the cost that NYU housing would be per year. This means that by paying a few hundred a month, we can get housing much cheaper, which could potentially make up for the gap I have between my financial aid and my actual COA (this gap is sizable enough that I really need to figure out a realistic method of closing it). Does anyone know if NYU looks into who’s paying for the off campus housing?</p>
<p>does anyone know if nyu can offer to pay for off campus apts?</p>
<p>also, to the OP, my efc is 0 and I got pretty generous aid, if I factor in the loans. By eliminating the aid for living on campus, are you going to find some other way to pay for the apt? Sorry if that is too personal of a question, you dont have to answer that.</p>
<p>NYU doesn’t care who pays for your off campus housing and NO they do not pay for it. It is between you and the landlord.
If however, your loan money is used to go for housing, I would imagine at some point they would send you a check when there is a surplus in your bursar account, because you did not go for on campus housing.</p>
<p>@woodendynomite: I’m not sure what you’re asking, but the way it adds up is, with my friend’s parents’ contribution, I’ll have to come up with about $250 per month for rent. I’m planning on paying this in cash using money that I’ve earned from working. This will be A LOT easier because, while the aid I got from NYU technically covers everything, right now I’m essentially paying for my housing with the PLUS loan. I am capable of earning the money to pay up front for some of the loans, but the problem with NYU (and any college for that matter) is that it asks for thousands of dollars right before the semester starts. I don’t have the kind of money to spare that all at once, so I wind up using some of the loans I’m offered to cover it, and I return the rest to the lender. By paying something monthly, I’ll be able to come up with the money much more easily, not to mention save thousands of dollars. (And yes, I’m aware that NYU has a monthly payment plan, but it’s still asking for more money than I’ll have for the year, so I’ll still have loans, and I don’t really need that stress). I hope that answers your question, and I’m sorry for being so verbose. </p>
<p>@milkandsugar: Thanks for answering my question. If NYU doesn’t care who pays for the housing, then I might be golden to go off campus.</p>
<p>You specify in your FAFSA whether you’re living on or off campus and use that when calculating aid. I’m assuming NYU Fin. Aid uses an average monthly rent when calculating aid for students that mark off campus (prob 1400 a month or so, which is right around NYU’s on campus prices).</p>
<p>I’m moving off campus this fall and my financial aid package was only a little less than I’ve gotten the past two years. However this could also be based on the fact that I’m going to be a junior and aid typically goes down each year or the fact that my GPA has slipped a little bit.</p>
It takes a lot of us as a team to dig up information that is scattered all over the place.</p>