<p>People generally don’t seem to understand how NYU financial aid works. So to re-iterate: </p>
<p>(1) NYU DOES NOT meet full need. They are VERY stingy with funds, as our endowment is VERY small. And don’t quote it’s 2.3 billion! That’s so much money! Well, that has to keep NYU operational. If we look at an expenditure, how much does all that New York City real estate cost yearly? Professor salaries, other staff salaries? Providing for 43,000 students in the heart of one of the most expensive cities in the world, in one of the most expensive zip codes in New York, is VERY costly.</p>
<p>(2) NYU gives aid NOT on a need basis, but RATHER on a desirability basis. Most NYU financial aid comes in the form of scholarships, large scholarships are given to the students they want more, whereas smaller ones given to students they want less. Admissions ranks the desirability of students and the financial aid office allocates funds based on the rankings of the students. Typically students are ranked in tiers of desirability.</p>
<p>(3) There are of course exceptions to (2), wherein NYU will give larger amounts to people more in need. However, these usually occur within the same desirability ranking. E.g. a student in tier 1 (most desirable) with EFC $10,000, MAY get more than another student also in tier 1 with EFC $25,000.</p>