<p>^^^
Show your displeasure by going somewhere else.</p>
<p>@chemE2014</p>
<p>oh man I’m so sorry 
that’s just depressing with their horrible financial aid!</p>
<p>I’m still waiting on my fin aid package from NYU…my parents’ EFC is like 6000, and after BU only giving me 50% aid, I have no idea what to expect from NYU.</p>
<p>This may be a stupid question in general,
but do loans have to be under your parents’ names? Or can they just be under the students’?
I really don’t want to add a burden on my parents, and would much rather it be on my shoulders in the future if anything.</p>
<p>There are student loans and parent loans. Student loans are Stafford (max $5500 for a freshman) and Perkins (availability and max varies by school - can’t count on getting it, probably won’t be much if you do). PLUS loans are only for a parents. Private loans are either parent loans or can be student loans but will require a cosigner with a good credit rating.</p>
<p>hope, Almost all schools require financial aid recipients to take loans under the student’s name. The Stafford Guaranteed Student Loans and Perkins Loans are all loans the student has to repay. Most schools will include some of them and there is no credit check. </p>
<p>Schools may also offer your parents the option of taking out a PLUS loan. That is a loan that requires a credit check and your parents would have to repay.</p>
<p>NYU is renowned for giving poor financial aid. There are some exceptions, but generally their FA is not good.</p>
<p>ohh okay! thanks so much for your input!</p>
<p>NYU is renowned for offering terrible financial aid. I know several people who have turned it down to go elsewhere, including state flagships even though NYU was their dream school.</p>
<p>28,800:</p>
<p>NYU Grants $18,000 + Pell Grants $4,300 + Perkins $1,000 + Direct Unsub. $3,500 + Direct Sub. $2,000 = 28,800.</p>
<p>That’s how they came up with 28.8k btwz.</p>
<p>It’d look a lot better if you didn’t dorm or got an apartment in the city, imho. But if you want to try to appeal and really hate your aid package, you may via a letter to the dean, explaining your financial situation.</p>
<p>Yeah, but I kinda have to being that I am coming from Denver, and have no idea about the options there. Most likely I will be rethinking it…</p>
<p>NYU shouldn’t be anyone’s dream school unless their parents can pay full-freight. </p>
<p>Students who need large amounts of aid need to target schools that either meet need or will give assured merit for their stats. Schools like NYU and OOS publics that don’t help much or give much merit need to be off these kids’ lists.</p>
<p>it’s nyu-poly though. the admissions process & the financial aid are super different…I got 30k in merit aid from poly. most probably would’ve gotten zip from nyu (manhattan).</p>
<p>hey, do what you gotta do, chemE.</p>
<p>NYU does NOT guarantee to meet 100 percent of need, so students who can’t afford to pay full freight should not apply.</p>
<p>NYU is the poster child for a prominent university that routinely gives terrible financial aid packages while at the same time being a very, very expensive university located in a city with very high living costs. While a few students apparently do get good aid packages, you could look and probably find well over a hundred posts by other students over the past few years moaning about how awful their NYU aid offer was.</p>
<p>If you’re in Colorado, I hope you applied to CU and School of Mines, both of which should be substantially more affordable for you.</p>
<p>@static75, I am getting loans to cover this since I truly believe that an NYU-Poly education will give me a lot of job offers in the end (as has been advertised on their brochures) A chemical engineer salary should help me get the loan paid off. I will see if I appeal and talk with NYU-Poly financial aid to see what other options I have available to me. The reason I am not going to just give up is that I love this school from the minute I stepped foot on campus and got to see the labs, library, etc. I knew that this is the place for me. The i2e learning philosophy is unique and will harness a lot of awesome learning opportunities for me. Honestly I could not ask for more in a college than NYU-Poly. And until I have spent the last ounce of my energy trying to find a solution to pay for NYU, I will not rest. Hopefully the financial aid office is helpful and understanding of my situation.</p>
<p>@Arabrab I did apply to Mines since its about 10 minutes away from my house. CU is not the place for me especially for the amount of partying, that 420 crap, and I just don’t like Boulder since its very awkward with wierd college kids all over the place just not focused on thier studies. I was doing my IB Extended Essay there over the summer and no one does homework, the libraries even Norlin was empty! But Mines is highly respected here and I did apply there, in, but you know I would like to be in a place where I can have billions of opportunities for research and later on, jobs! Colorado does not offer too many Engineering Jobs which concerns me very much, and NYC does and has a business heart which allows me to quickly find a well paying job and get down to paying off those loans! Alike NYU-Poly though, Mines has students focused on coursework and not on partying, which is exactly what I am looking for in a college, but I prefer NYU over it…</p>
<p>I am getting loans to cover this since I truly believe that an NYU-Poly education will give me a lot of job offers in the end (as has been advertised on their brochures) A chemical engineer salary should help me get the loan paid off.</p>
<p>First of all, a chem engineer is lucky to start around $50-60k per year…not enough for big loans…</p>
<p>Secondly, a Pell family isn’t likely going to qualify to co-sign those big loans…and they may not even want to try. </p>
<p>Thirdly, your family might qualify for the first year or so, but what if they can’t qualify for years 3 and 4? Then what would you do.</p>
<p>This is a horrible package that would leave you over $100k in debt. You’d need a big income ($140k per year) right away to be able to afford those payments…(which would be over $1200/month for 10 long years). </p>
<p>I don’t think you realize that people in their 20s-30s don’t have an extra $1200 a month to go towards student loans. It would literally devastate the quality of your life during very important years of your adulthood (ages 23-33). </p>
<p>If you have less expensive options (like Mines), go there!</p>
<p>
Seems your family’s financial situation improved in the last few days?</p>
<p>aglages I think it is as simple as this…the kids (and sometimes the parents) are so invested in the grades, test scores, EFCs etc. to get accepted into some of these brand schools that it is difficult to get their minds wrapped around the cost and even moreso that the cost might preclude them (or their children) from attending these schools. A huge “chunk” of these discussion boards center around “chances”, anecdotal information about college life, and parents discussing “where” their children can go. There is far less information explaining that there is much hype around costs, less transparency about college finaid packages and kids that think “meets need” means “meets their need.” It’s always a sad time of year on the forums in March and April. There are hundreds of threads about how NYU rarely gives enough aid but people in general are most invested in the can I get in aspect as opposed to the can I afford it.</p>
<p>I just hate seeing mid-income and low-income kids choosing NYU as their “dream school”. Rarely does such a kid ever get an FA package that makes going there do-able without life-stifling debt. It’s a school of the affluent…plain and simple.</p>
<p>That’s a very crummy package for a Pell Grant-eligible family. We have seen one offer like that, which took that college completely off my son’s list of places to consider enrolling. Alas, I think you will have to do the same about NYU. I hope you have other offers to consider. </p>
<p>After edit: from what I know about reputations of the colleges, it’s not clear to me that NYU is a better career choice for you than Colorado School of Mines. Coming out of either college, you will have to gain great grades and network a lot to have a decent chance of getting a job, but I don’t think NYU’s reputation is enough better than that of Mines to be worth anywhere near that amount of debt.</p>
<p>momofthreeboys: I understand and agree with your opinion. I suppose it is in the best interest of high school guidance counselors and parents to encourage the myth that “you can go to any college that your grades are good enough for acceptance” so that students continue to work their hardest…regardless of whether those grades and achievements will actually result in the means to attend their “dream” schools. It is sad that they feel betrayed by that system after getting their hopes built up unrealistically.</p>