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Financial Aid issues (NYU POLY)

DidntHaveMyNameDidntHaveMyName Posts: 5Registered User New Member
So I applied ED and got into NYU Poly (computer engineering). Recently I got my aid package and am freaking out.


Polytechnic Grant 22,200.00
College Work-Study 1,500.00
Pell Grant 695.00
Perkins Loan 1,000.00
Direct Subsidized Loan 3,500.00
Direct Unsubsidized Loan 2,000.00
Recommended Parent Loan 28,675.00
Academic Year Totals 59,570.00

now my parents make less than 90k a year and have not great credit. Two years ago when my older sister needed it my parents got denied for the parent plus. Now there are 3 children going into/in college. My mom also is now a dislocated worker. They won't do anything until my parents are denied the plus loan (resulting in 4k more federal unsubsidized loans) and my mom's been unemployed for 5/6 weeks (again less than 5k)
my EFC is less than 5k (4925 to be exact) but this means I need to come up with 20k

The actual cost (tuition, fees, room and board) works out to 54828
loans & grant total (once the plus loan is denied) 33395

so my actual debt to the school will be 21433
which on top of I'll need to plan on several thousand for transportation, my laptop, books, supplies, stuff, etc


So understandably I'm freaking out at this point because I'm not sure I can get 4 cosigners at 21.5k. NYU Poly is my dream school and at this point my only other legitimate option would be UB. I really disliked the idea of UB even before finding NYU Poly. I've read that the DoD, NASA, NSA and some other federal agencies have programs that'll pay for up to the last 2 years and of course there's ROTC and a ton of various scholarships but most of the deadlines have passed.

HELP ME?!!?!
Post edited by DidntHaveMyName on

Replies to: Financial Aid issues (NYU POLY)

  • happymomof1happymomof1 Posts: 19,144Registered User Senior Member
    This institution has offered you an unaffordable aid package. Kick it to the curb and move on.

    If UB is your only affordable option, do your level best to find something likable about it, or start thinking about how you are going to spend a Gap Year while you come up with a new list of places to apply to.
  • Iron MaidenIron Maiden Posts: 1,838Registered User Senior Member
    This is a prime example of why you never apply ED when aid is an issue.

    ROTC deadlines are way past. ROTC is not a way to pay for college. It is a calling. Students who try it to pay for school almost always wash out.

    This school is totally unaffordable for you I'm afraid.
  • BobWallaceBobWallace Posts: 1,696Registered User Senior Member
    Yeah, don't apply ED if money is an issue, and especially don't apply ED to a school with notoriously bad financial aid like NYU.
  • DidntHaveMyNameDidntHaveMyName Posts: 5Registered User New Member
    I'm really not sure what my other options are is the issue. RIT would work aid dependent, the only thing I haven't liked about it is it's proximity to my family, which might become an advantage; not living on campus would save some money.

    I'm torn because I really, really want to go to poly but clearly can't afford to. At this point a SUNY or CUNY is what I would assume to be workable, given that some of that aid is basically transferable.

    I've thought about AFROTC (and even the academy) before but decided it would be too much of a hassle as a glasses wearing, currently out of shape student that fell a little short for the academy grade/score-wise.
    I didn't think aid would be so big an issue, I just kind of stupidly assumed that as a b+ honors kid I'd at least be able to go to some good schools, maybe with hefty loans but at least possible.

    I'm just amazed that they can't/won't do anything, except point out their policy requiring 5 weeks of unemployment and the federal policy on declined plus loans.

    It's still not completely merged with NYU so I thought it'd be okay. Still separate financial aid and registrar.

    It was my dream school, I'm still having some trouble coming up with other schools knowing how nice it is. I'm really boned because I was so set on it that I didn't bother to create a backup plan

    Thanks Guys
  • brendank21brendank21 Posts: 226Registered User Junior Member
    Here are some things to take into consideration:

    The COA at a SUNY is roughly $20,000. The bulk of that cost is room and board. The actually tuition is under $7,000 which is very affordable.

    At a SUNY you will probably get no other aid besides Pell and TAP unless you qualify for some scholarships they might have. But those are very small.

    If you can commute to a SUNY go there or if there is another local school that might provide merit aid.
  • SpudcommandoSpudcommando Posts: 96Registered User Junior Member
    What is it with NYU? They're a pretty well endowed school, but from what I've seen they're pretty stingy with their FA.

    And yes I agree with the others, time to kick NYU to the curb because no undergrad program is worth piling a mountain of debt on yourself. And absolutely DO NOT enroll into ROTC unless you're absolutely sure that's what you want to do. Because based on my experiences in the Army, both the enlisted and higher ranking officers are perfectly capable of making your military career no matter how brief a perfectly miserable one should they ever suspect you're just one of those butterbars who only did it for college.
  • DidntHaveMyNameDidntHaveMyName Posts: 5Registered User New Member
    The only SUNYs I could realistically commute to are MCC and Brokport, anything else is like 1 hour plus. Isn't federal aid based on COA not just tuition?

    I wouldn't do ROTC right now unless it was the difference between my dream school and a school I disliked with a passion or a community college.
  • BobWallaceBobWallace Posts: 1,696Registered User Senior Member
    @Spudcommando - NYU does not have a large endowment considering the size of the school. This is from their own website:
    How does NYU’s per student endowment compare to other institutions?

    Not well:

    Princeton: $2.2 million per student
    Yale: $2 million per student
    Harvard: $1.7 million per student
    Columbia: $328,000 per student
    NYU: $62,053 per student

    Among 785 institutions that participated in a recent survey, NYU ranks 31st in terms of its overall endowment. Based on its endowment value per student, NYU ranks 202nd.
  • actress17actress17 Posts: 16Registered User New Member
    Hi!
    I'm in the same boat as you except I've been accepted to NYU tisch and NYU is my dream school and they've also given me an unaffordable financial aid package. I understand how difficult it is to let this school go but I've realized that taking out that many loans will ruin my life and it will ruin yours too. Think about the money they're asking to take out in loans could ACTUALLY be used for in your future..your house, car etc. SUNY schools are good schools and maybe you could do grad school at NYU if you get a better financial aid package then.
  • cptofthehousecptofthehouse Posts: 24,083Registered User Senior Member
    You cannot afford this school. You have over $10K in the federal loans, Staffords and Perkins combined if you get the additional $4K from the Staffords.

    Aren't you eligible for some money from TAP? If you are Pell eligible, you might get something from them, but nothing close to what will close that gap. I think commuting to Brockport is your best option, or looking at UBuff if that is still an option. With Tap, Pell, and the full Stafford, if you find a job now, and work there, you just might be able to make a go of it, and after freshman year, or even maybe for freshman year, there is a lot of cheap, dirt cheap off campus housing with a lot of students going that route. It's $20K to go to a SUNY with full room/board taken, so you still have a gap.

    IF you talk to UB, they may give you a $2500 grant as well. My son got it even at the 11th hour. Depends on your stats.
  • DidntHaveMyNameDidntHaveMyName Posts: 5Registered User New Member
    I'm really hoping RIT has some good aid at least for spring
    might do a semester at MCC and transfer
    Stony Brook would be really nice I could probably get in for the spring especially if RIT isn't viable
  • Iron MaidenIron Maiden Posts: 1,838Registered User Senior Member
    Keep in mind that aid for transfers is typical less than for incoming Freshman.
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