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nyu financial aid

chchchaa10chchchaa10 Posts: 4Registered User New Member
edited November 2012 in Financial Aid & Scholarships
i was wondering if anyone knew the financial aid packet nyu offers. i know that columbia gives anyone with a family income lower than $60,000/year full ride. anyone know what the cutoff for nyu is?
Post edited by chchchaa10 on
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Replies to: nyu financial aid

  • sueinphillysueinphilly Posts: 4,207Registered User Senior Member
    NYU doesn't do the same thing as Columbia. They also don't use the CSS profile. You are not guaranteed to get full need met by NYU
  • NYUMNYUM Posts: 6Registered User New Member
    Even though you might not get that much in aid from NYU, unlike Columbia, you can use ALL of your outside scholarships towards tuition, room and board. Since at the ivys the financial aid is need based they will take away grants from you proportional to the outside scholarship amount you recieve. NYU is not like that since part of their financial aid is merit based. Also the amount you get freshman year is the amount you will get seinor year. However I have heard of people with really high GPA's(after atleast a year at NYU) petitioning it to the Deans of their college and at times getting up to 7,000 dollars more per year.
  • hsmomstefhsmomstef Posts: 3,579Registered User Senior Member
    NYU is well known for very poor financial aid -- gapping most students and including large loans in the FA package.

    Since NYU also includes merit awards, there are a few students that get great FA awards -- but most students are not happy with their FA packages.

    If you check out the FA statistics for NYU on collegeboard.com, this is what it says about NYU:

    on average, NYU meets only 68% of the student's demonstrated need and loans and/or work-study make up 44% of that package.

    Just to give you an idea -- a family of 4 with typical assets, and an income of $60,000 would probably pay nothing at Columbia. At NYU, your EFC would be approximately $8000. Cost of Attendance at NYU is ~$50,000. Your demonstrated need would be $42,000. The typical FA package from NYU would be $28,560 -- and $12,566 would be in loans/work-study. So at NYU, you and your parents would be expected to pay $34,000.
  • sueinphillysueinphilly Posts: 4,207Registered User Senior Member
    Or you could be one of their top prospects and get a big merit scholarship like my son did. My EFC was 12K and my son received 30k in scholarships(for all 4 years), a Perkins and subsidized stafford loan. My out of pocket was probably a bit more than 12K (depending on what dorm and mealplan you take).

    I would never have thought it possible for my son to go to NYU but they came thru big time for us. His SAT was 2250. 780 in math, 760 in verbal His GPA for his freshman year (just ended)was 3.71 which we think puts him on the Dean's list.

    not sure if I have the courage to ask for more $$ in aid. Haven't seen the FA package yet for sophomore year.
  • aronaron Posts: 99Registered User Junior Member
    Sue-Your son's hard work did pay off and I am very glad. But my D with similar SATs and NMF status was considered lucky to receive the Trustees and a smaller scholarship--total was 18,500. The smaller scholarship came after FA appeal. She also was a Baird Urban Experience Scholar, but that was "rolled into the Trustees."

    hsmomstef's math was about right for our family--lots of work study, loans and that's with the scholarships. There was a huge gap and D will be attending elsewhere (and will probably graduate with less debt than one year at NYU).

    Potential NYU students should really discuss finances carefully and go in to the application process with their eyes wide open...and a safety they love.
  • sueinphillysueinphilly Posts: 4,207Registered User Senior Member
    What was your EFC? NYU probably won't give scholarships that cover your EFC. So if your EFC was in the 30K+ range, then it isn't surprising that their aid pkg seemed stingy.
  • aronaron Posts: 99Registered User Junior Member
    It was significantly less than yours.

    When we did the FA appeal, the young man helping me explained that the average scholarship/aid at NYU was 7K. Clearly, the offers our kids received are balanced out by families who receive no aid.
  • sueinphillysueinphilly Posts: 4,207Registered User Senior Member
    I'm sorry NYU didn't work out for your daughter. I tell you when we got their FA pkg I felt as if we had hit the college lotto.
  • franglishfranglish Posts: 2,308Registered User Senior Member
    Since at the ivys the financial aid is need based they will take away grants from you proportional to the outside scholarship amount you recieve.

    This is a bit of a sidetrack to this post, and I apologize, but this quote is not quite true. At Brown you are asked where to apply the outside scholarships-- student contribution, work study, or loans. They do not remove any part of the University Scholarship. Sorry to digress...
  • hsmomstefhsmomstef Posts: 3,579Registered User Senior Member
    For the past three years that I have been reading CC, it is clear that a few students (sueinphilly's for example) do hit the jackpot as far as FA goes at NYU. But it seems like for every 1 student that gets a good package, 20 are seriously gapped with significant loans. NYU is upfront about this -- they do not even pretend to coming close to meeting need.

    Students with high stats might be one of the lucky ones -- so if NYU is a good fit, it makes sense to apply. However -- if you need FA to attend, consider it a reach no matter what your stats are, since the size and composition of the FA packages vary widely.
  • sueinphillysueinphilly Posts: 4,207Registered User Senior Member
    In all honesty, I think what tipped the scales in my son's 'favor' beyond his stats and ECs was the fact that he wrote about coming to NYC since he was 3 to visit with his uncle (my brother who lives in Manhattan and is an NYU graduate) and how that was the only male influence in his life (having never met his father). Myself and my brother are pretty much his entire family.
  • MomOf3StarsMomOf3Stars Posts: 795Registered User Member
    My D received what I would call a decent package from NYU. About $28K in "free" money (Grants and Scholarships). Unfortunately the OOP was more than we could do for her but compared to most others I saw she got a really good deal.
  • NYUMNYUM Posts: 6Registered User New Member
    I got about 18,000 in "free money" which doesnt seem like much but I had around 15,000 in outside scholarships which were added on yearly. I am a recent graduate of NYU who graduated Summa Cum Laude, with Honors in my major, and a 3.92 in 3 years. I think graduating a year early saved a bit of money and I loved NYU so much! Also I am headed to medical school at an ivy so clearly NYU did what it was suppose to for me.
  • chupathingychupathingy Posts: 9Registered User New Member
    My EFC is about 16k, which I think is high in comparison to my friends who got only a couple thousand for their EFCs. I don't qualify for a Pell Grant, and thus was unable to apply for various scholarships that established that as a qualification requirement.

    Now, I got into NYU and they gave me 12,500 as a merit scholarship, while the remaining 40k or so is loans >.> My parents have a decent income, but definitely not enough to handle such large debt. I'll probably spend a long time paying off the loans.

    However, I got into Macaulay Honors College at CUNY, which includes free tuition and several other perks, with the main downside being that its prestige is very new so most people just see it as a CUNY.

    Should I muscle through the hefty debt from NYU or give MHC a try?
  • momfrommemomfromme Posts: 2,536Registered User Senior Member
    NYU gave the worst FA to my daughter of the 7 schools that accepted her - She got lots of loans plus some grants for NMF. They do come through for a small set of people with merit money but their needs-based FA is poor.

    I warned dd before applying so she knew that there was a good chance that they would give poor aid. It was a disappointment when we compared FA packages but she got over it pretty quickly since she knew what was likely beforehand.
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