Hi, I am an aspiring math/economics major heavily considering NYU. Based on my parents income, I will be receiving very little financial aid, if any. NYU is my first choice and thus I want to apply early decision. However, my father does not want to pay tuition above a certain threshold, which is about $50,000/yr in my case. If I apply early decision to NYU and do not get merit scholarships that would reduce tuition to allow me to go, can I back out of the early decision agreement on the basis that I cannot afford to attend?
If it helps…
Stats: 1550 SAT, 750 verbal/800 Math, with a 3.75 uw gpa, 4.15 w. School doesn’t rank but probably within top 10%, definitely within top 25%
Great applied math and economics programs. My high school is also insanely competitive. Even though my stats suggest otherwise, I would not get into HPYS and the equivalents so I have to consider other options. I also have a lot of family in NYC.
175 of the 2,986 students that had no FA need received merit scholarships with an average award of $4,476. I would start looking at other schools. This is from the 16-17 common data set.
There are great applied math and econ programs at lots of places which are not HYPS… NYU ED is a great choice for someone with no financial constraints. Otherwise, it seems like a shot in the dark… yes, you can back out of the ED commitment if the package they offer you is unaffordable. But why not fall in love with a college which is likely to come in at or under your budget???
Your parents will pay $50,000 a year? That is terrific!!
But it won’t cover the cost of attendance at $72,000 a year NYU.
So…where is the additional $22,000 a year going to come from? You can take a $5500 Direct Loan, but that still leaves roughly $15,000 which, frankly, you might or might not see from NYU.
I wouldn’t apply ED. You are a strong student…so what’s the point? Your application will be strong as a RD applicant as well. Especially since it sounds like there are some financial considerations for you.
P.S. you have the same chance to get accepted to HYPS, etc, as the rest of the under 10% who get accepted. So apply and see.
But you say your parents CAN pay $50,000 a year. The question is…would these schools calculate that you have ANY financial need? They might not…and those schools don’t give merit aid.
A student CAN apply ED, and back out of an acceptance if the financial aid is not sufficient to attend. There is nothing wrong with this, and the student won’t get “blacklisted”.
Who told you that?
Having said that…it is smarter NOT to apply ED if you think you won’t be able to pay the bills.
@CosmicStorm - NYU as a rule does not give out merit scholarships without need and they’re up front about it. This is a direct quote from their website:
"A financial aid package at NYU takes into account both financial need and academic merit. NYU awards very few exclusively merit-based scholarships, as we are committed to using the vast majority of our scholarship funds to assist students whose families are unable to pay the full cost of an NYU education. "
Also, they aren’t generous with what constitutes “need” like some of the wealthier schools (looking at you, Stanford!).
If you need to get your cost of attendance down to 50K and your parents finances do not show any “need”, NYU is pretty much the last place I would say you should apply ED. Find a top-choice school that’s also a likely financial fit or imo you’re just wasting that ED “opportunity”.
I was interested in PetE, but it seems like a pretty inconsistent and risky industry. Also, I learned more about what the job requires (frequent traveling, staying on oil rigs, etc.) and it doesn’t seem appealing to me. I ended up applying to UIUC, UW Madison, UMD College Park, Texas Austin, UW Seattle, UMN Twin Cities, UMass Amherst and Penn State. Does anyone have any ideas of some good ED2 Schools for me? I like Brandeis and it’s very close to home, but I don’t know how much it would cost if I was to ED. The 50k would be to total price including room and board. My parents aren’t willing to pay 70k like many of these private schools seem to cost.
Columbia? They only offer need-based aid, but there is no upper income limit as they look at your family’s complete financial picture. It would be a long shot in terms of aid, but they’re probably give you a little more than NYU.
I really think UMass Amherst could be a great school for you, and a financial match as well. I don’t blame you for wanting to try and ED2 for a tippy top, but that’s a solid good choice, and I hope you get in!
If you run the net price calculator and the numbers don’t work out to be affordable I would not apply ED to NYU (or any other school). NYU in particular is not known to be generous with merit aid.
H’s best friend was ChE and has worked in the petroleum industry his entire career. Nephew is also ChE and is working in petroleum industry.
I would look at curriculum to see what specific courses may limit PetE. What the upper division courses and electives are. It seems the petroleum industry has lots of room for ChE.
