<p>Are your parents going to take the plus loan? That is the question that needs to be answered. If they are contributing and all you are taking are the federal loans, then I would say go to NYU. However, if they are not, then you need to go elsewhere, especially since you are going to law school.</p>
<p>Thank you for the replies. I was a bit confused while looking at my financial aid infoā¦
Iām admitted to CAS, and the total expense is $61,907 but the total of loans, etc (federal work study: $3,000, federal perkins loan: $2,400, stafffod loan 1: $3,500, unsubsidized loan 1: $2,000, federal plus loan 1: $30,440) and scholarships ($20,620) would be $61,960. Did I get the supposed total cost for CAS wrong? </p>
<p>Iām still debating whether the costly expenses will be worth the experience I would get at NYCā¦ this is stressful!</p>
<p>$30,000/yr is a lot for your parents to take on ā itās also no guaranteed that your parents will qualify to take out such a large loan every year. I.e. you could get half way through your junior year and your parents will be unable to qualify for any more loans and you will not be able to finish your schooling.</p>
<p>Is $68,000 a ridiculous amount of loans to take out here or is it worth it? I am considering majoring in Political Science, Journalism, or Communications, but I am not definite on anything, and I am hoping that the abundant opportunities at NYU will help me figure out in my first two years what I actually want to pursue.</p>
<p>@stalmadge5194 yes that is a ridiculous amount to take out in loans. I donāt think any major, even in stern, is worth that amount.</p>
<p>While Iām sure yoru intent was to be helpful, your thread is very misleading. It seems that you have fiancial aid and scholarships confused.</p>
<p>Scholarships refer to monetary awards that are generally based on talent, academics, sports etc and are merit based. Some schools also take finacial need into account when awardign these funds. Schoarlships do not need to be paid back. You are correct when you say that NYU gives fudns based on how much they want the student to attend. But this is NOT FINACIAL AID,</p>
<p>Financial aid. Fiancial aid is based soley on fianical need. Somtimes this aid comes in the form of a grant and does not need to be paid back. More often this aid comes in the form of loans from various sources and does need to be paid back.</p>
<p>I hope this clears things up for anyone who is applying to NYU or any other school for that matter.</p>
<p>Scholarships refers to any monetary award which if part of oneās financial aid package - this include need-based scholarship as well as merit-based scholarship (any award given to a student by a school is typically called a scholarship regardless of whether or not it was given on a need or merit basis) Thereby, my thread and post are in no way misleading. In fact, your post portrays that youāre very unaware of how financial aid works at NYU or any school for that matter.</p>
<p>Financial aid refers to any and all aid being given by a school - scholarships, grants, loan and so on and so forth. Financial aid is NOT based solely on financial need. </p>
<p>If you took the time to read my original post, you would see that NYU does financial aid a bit differently from other schools, such that both need and merit are taken into account when giving students financial aid.</p>
<p>NYU2013: Do you think that taking out $68,000 in loans is worth the experience at NYU?</p>
<p>@stalmadge5194 </p>
<p>Probably not, no.</p>
<p>Suppose that you wanted to pay off your student debt in 10 years ā you would be paying between $700 and $800 per month for the next TEN years of your life after you graduate.</p>
<p>^
Do you mean for $68,000 in loans for all four years?</p>
<p>That assumes that your total indebtedness upon graduation is $68,000.</p>
<p>^
Including all loans (Stafford, Perkins, etc)?</p>
<p>Also, if a relative of mine (not immediate family) is considering helping to pay my tuition, how would they do so? Send the money to my momās checking account and then she writes a check to NYU orā¦?</p>
<p>I donāt know what your financial situation is, so Iām not sure.</p>
<p>Assuming your TOTAL indebtedness is $68,000 (meaning ALL of your loans). If you have other loans on top of that, then you would have to add those to that total.</p>
<p>@NYU2013,
Okay, thank you, I am in the process of calculating indebtness and discussing financial aid options with my parents etc.</p>
<p>What do you mean by my financial situation?</p>
<p>I donāt know what your financial aid package from NYU looks like, what it includes, etc.</p>
<p>68,000 student loan debt for four years in my opinion is not a lot of debt for an NYU educationā¦ I read somewhere at one time that your debt should not be more than what one years cost of attendence is.</p>
<p>How much is OK has nothing to do with the cost of attendance and everything to do with how easily you can pay it back post-graduation.</p>
<p>Sixty-eight thousand dollars sounds like a lot of debt to me.</p>
<p>Most financial advisors recommend not borrowing more than a MAXIMUM of around $40,000 TOTAL, across all four years. (I.e. no more than $10,000/yr)</p>
<p>Just wonderingā¦
Does anyone know if NYU offers financial aid/assistance to international students?
Specifically pertaining to Canada?</p>