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NYU Financial Aid

leom20leom20 5 replies1 threads New Member
So I got into NYU Tisch ED I for Dramatic Writing. I qualify for a $5145 Pell Grant with an EFC of $1091. However, according to the website, this is the only gift aid I'm receiving. I called the financial aid office and they said that I was offered a $70k Federal PLUS loan(which is ridiculous) but I was not eligible for financial aid because of something in my CSS profile. I'm hoping this is some kind of mistake that I can resolve, and I would really hate to have to turn down NYU because I can't afford it. Does anyone have any advice?
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Replies to: NYU Financial Aid

  • aunt beaaunt bea 10017 replies66 threads Senior Member
    NYU is known for giving really poor financial aid.
    Did you run the NPC? What figures did it give you?
    Many of their students take loans because they think the prestige of the program will get them a really good return on the investment, but that doesn't happen.
    You can contact Financial aid, but I don't think it will change.
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  • SJ2727SJ2727 2172 replies7 threads Senior Member
    Do you know what the issue with the CSS was? (There often seem to be unexpected outcomes when there is a non custodial parent, not sure if this applies in your case.)
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  • leom20leom20 5 replies1 threads New Member
    we have some other assets and stuff in our house(but definitely not enough to warrant 0 aid) and my dad recently lost his job which they had to resubmit a form for
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  • leom20leom20 5 replies1 threads New Member
    NPC said i would get $42k in aid which is super far off from the 0 aid i recieved
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  • cptofthehousecptofthehouse 29876 replies59 threads Senior Member
    You need to find out what is in that CSS PROFILE that is affecting your aid package so adversely. It could be a MISTAKE . A mistake that could carry over to your other schools if you decide you want to withdraw from ED because you can’t afford it. If there is something in PROFILE, or a particular situation that can make financial aid at PROFILE schools unaffordable, you may need to rethink your entire college list.

    NYU does not guarantee to meet full need and does not for most of its students but it does do so for some of them. I’ve known kids who hit their best aid packages from NYU. Find out what financial asset or situation is giving you such a Hugh Expected Contribution from NYU or if they are just straight out gapping you.
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  • SJ2727SJ2727 2172 replies7 threads Senior Member
    The assets could make a difference, as they don’t come into the NPC calc on the website. Our npc calc said could expect aid around $30k (I don’t recall the exact number) but when css with assets was done it also went to zero. Ask the fin aid office to walk you through it. Hope it works out.
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  • cptofthehousecptofthehouse 29876 replies59 threads Senior Member
    SJ2727 wrote: »
    The assets could make a difference, as they don’t come into the NPC calc on the website. Our npc calc said could expect aid around $30k (I don’t recall the exact number) but when css with assets was done it also went to zero. Ask the fin aid office to walk you through it. Hope it works out.

    NYU’s NPC does not take assets into account? It does not ask about bank balances, investments, value of real estate, home equity in primary residence? That’s a huge fail on NYU’s part.
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  • tdy123tdy123 1005 replies18 threads Senior Member
    edited December 2019
    Commonly held view at our HS: If you need undergrad fin aid NYU = Not Your University.
    edited December 2019
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  • cptofthehousecptofthehouse 29876 replies59 threads Senior Member
    Not always the case. But in OO’s situation, the point is whether something is in financials that are going to mess up PRFile Fun aid process at other schools as well. Is there a mistake there?
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  • SJ2727SJ2727 2172 replies7 threads Senior Member
    edited December 2019
    @cptofthehouse the one on the website is fairly simple, no assets. Income, dependents of student, total family size, kids in college are the main questions. There is a note that the actual aid offer could be substantially different from what the npc throws up. https://www.nyu.edu/financial.aid/misc/npc/

    The difference for us what that we’d read enough to know we were unlikely to get anything, so it wasn’t a shock.
    edited December 2019
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  • SJ2727SJ2727 2172 replies7 threads Senior Member
    And agree, not always the case. I met a parent at accepted student day last year whose kid had been offered a full ride scholarship. For many, probably most, students, aid will be disappointing from NYU, but for what I guess NYU sees as the exceptional applicants, they are very generous.
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  • cptofthehousecptofthehouse 29876 replies59 threads Senior Member
    Profile schools tend to take 6-9% of assets including primary home equity towards Expected Contribution. . FAFSA EFC uses 5.6 % of parental assets excluding primary home mortgage.

    Another curve ball is if a family business is in the picture or if parents own some resl estate and collecting rent.

    If you are looking at other PROFIlE schools , you need to run your numbers through some very good NPCs. Even those will not take into account family businesses. But do try to get some idea as to why NYU expects you to pay what they do. If they simply gapped you, chose not to meet your need, that’s one thing. But you should know what they considered was that need.
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  • tdy123tdy123 1005 replies18 threads Senior Member
    Can't understand why people keep being surprised that NYU fails to meet "need" when NYU clearly states that it is NOT a meets need school.:

    "...the primary responsibility for meeting college costs rests with the student and the family..."

    "...NYU is not able to meet the full need ..."

    The surprise is when they meet need, not when they don't.

    Both from the main NYU Fin Aid page at https://www.nyu.edu/admissions/financial-aid-and-scholarships.html
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  • cptofthehousecptofthehouse 29876 replies59 threads Senior Member
    Many good students and their family, their students figure that because the student is a good academic catch, surely money is forthcoming. Colleges always encourage applications, saying not to let lack of money be reason not to apply.

    In this case, OP should find out whether this is just the old NYU gap or if a common PROFILE aid formula is going to come out with a similar Expected Contribution.
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  • lovely654lovely654 5 replies0 threads New Member
    what does NPC mean?
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  • cptofthehousecptofthehouse 29876 replies59 threads Senior Member
    Net Price Calculator. Most all colleges have this on their web sites. You answer the questions about your parents and your income for 2018 (for upcoming year aid) with current asset i got stunk and it gives you an estimate of what kind of Sid you can expect from the school. NYI’s is useless if it does not ask for assets.
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