<p>I was Accepted but in the finiancial aid letter, it said that my tentative financial aid award is $49,581. Can someone explain to me what this means? Does it mean that I have recieved full tuition? However, I noticed that I have 3 grand in loan money so I know that I’ll have to pay it back. Any thoughts?</p>
<p>that’s pretty much everything. on the website it said the total cost was $48,000 something so they gave you everything. however you do have to pay the loans back, but not until after your 4 years of college. congrats!</p>
<p>Grants you don’t pay back, right? Loans you do? I got like 40k in total.</p>
<p>You’re right, nickel xenon! So far BU’s been the most generous in terms of Financial aid out of all the other colleges I’ve been accepted to. :D</p>
<p>I got a 44k scholarship from my safety but I don’t pay tuition since my mother works there. Haven’t gotten my financial stuff from NYU yet, though. I think this offer sounds pretty good.</p>
<p>wow thanks for the input guys!</p>
<p>Well, my two other safety’s sucked–URI only gave me 2k a year in scholarships and Quinnipiac waitlisted me. 
BU’s looking better and BETTER!</p>
<p>Wait, I have another question…is this financial aid reward renewable? i feel like its too good to be true…</p>
<p>does bu give merit aid?</p>
<p>some merit aid, but a majority of people (from reading CC) appeared to have received generous financial aid packages. i know i did :-)</p>
<p>“Wait, I have another question…is this financial aid reward renewable? i feel like its too good to be true…”</p>
<p>I was wondering the same thing…does anyone have any input?</p>
<p>im pretty sure, but i’d have to check.</p>
<p>I got NO aid from them, only my merit scholarship. 
is there any way to get any from them?</p>
<p>Are you guys sure the total cost is 48k?</p>
<p>i calculated it myself and i got a little over $51,000.
i’m still going to call the financial aid office just to double check my numbers, though.</p>
<p>Aaargh. DX I knew 48k was too low.</p>
<p>Be sure to check whether any component of your FA award is loans. Most universities are sneaky and stick it in there, then show total FA=cost of attendance. Loans can be pretty crippling if you are not careful.</p>
<p>For the sake of illustration, let’s assume that your FA includes $12k/year in loans. Four years + interest will bring this above the mid-$50k range, assuming that you choose to pay it off over 15 years you will be on the hook for about $500/month. Even if you make $50k/year as a starting salary post graduation, $500/month will be a heavy burden when stacked on top of routine expenses.</p>