<p>I got some outside scholarships, like one 5K, waiting to hear from a few more that I made finalist. I was just wondering how to go about this. Because I only have a couple thousand left to cover for NYU and if I use the scholarship, it'll be even. But I'm afraid that if I tell NYU a head of time they'll lower my financial aid?</p>
<p>The money is being sent directly to the school and not my pocket. What would happen if I don't inform them and the organization just sends the check to the Bursar's Office?</p>
<p>They won’t lower your financial aid (not this year, anyway). However, you will eventually have to inform them of how you will be paying your tuition, since, if they just receive a random check, they won’t know what to do with it. Contact the organization granting the outside scholarship and ask them when they will be sending the check and how they plan to communicate with NYU about what it’s meant for.</p>
<p>If you only have a couple thousand more dollars to pay, don’t take out a loan. Defer payment if you have to (which means you pay in installments), or even put it on a credit card, but DO NOT take out a loan.</p>
<p>Okay that’s a relief. It’s a one-time scholarship though, so I hope it doesn’t affect my financial aid for the next year. Oh I was also wondering, since I filed my fafsa this year using my family’s 07 tax forms, do I have to update it with the new 08 tax forms? There isn’t any change really.</p>
<p>Yeah I won’t be taking out any loans. I still can’t believe how lucky I am haha. I really can’t handle debt, especially since I’m in Tisch, so it’s not exactly like I’m going to be making big bucks immediately out of college. lol</p>
<p>Oh I was also wondering, since the Bursar’s office bills us by semester, is it possible to pay in advance for the next semester too? Cause I have about 3K left to cover per semester and my outside scholarship is going to send them one check for 5K.</p>
<p>If you have need-based scholarships, and your need stays the same, you should get pretty much the same financial aid. If you have merit-based scholarships, those won’t be taken away (unless there are some minimum requirements, and you fail to meet them). NYU will know it’s a one-time scholarship, and as long as those assets don’t show up on your FAFSA, which they wouldn’t since they’re all spent, you’ll be fine.</p>
<p>As for the FAFSA, you had to input your 2008 tax information for the 2009-2010 FAFSA. You can always modify your FAFSA on the FAFSA website, which shouldn’t be a problem if the numbers are that similar.</p>
<p>Since your payment will be 2k over, NYU will more than likely credit you back the amount and send you a check (so make sure your address is up to date!).</p>
<p>Okay that’s good. I just heard rumors that if you get a 5K scholarship, they deduct that from the money they’re giving you which makes everything pointless! lol</p>
<p>Ah I see, that’s good about the check thing. Thanks for all the help!</p>