<p>I’m confused how little NYU seems to offer in financial aid, and yet can offer a relatively large chunk of money per student. Does NYU offer more money after the FAFSA is processed? Because as of now (and looking at other ED applicants who got in), most people got jack in terms of $$.</p>
<p>There were a few who got $20k+ in terms of schollies and grants, but certainly not the average applicant.</p>
<p>Averages mean just that. Some folks will receive more and some folks will receive a lot less. The school costs $60,000 plus a year. </p>
<p>Can you provide a link where it says the average SCHOLARSHIP/GRANT is $26,000/student? Are you sure that is not the average FINANCIAL AID PACKAGE (which includes scholarships/grants, loans, work/study)? My guess is that it is the latter. </p>
<p>I agree that some students get $20,000+ in scholarships/grant per year, but that is not the average. My D is an alum and got that but that did not seem to be an average scholarship.</p>
<p>@soozievt</p>
<p>“The majority of financial aid that we award is need-based and the average scholarship/grant for the Class of 2017 was nearly $26,000.”</p>
<p>They may award grants to only a small percentage of the entering class.</p>
<p>Thanks for the quote (though not a link). In that case, I agree with PurpleTitan that the awarding of grants is to a smaller percentage of people and they quote the average of those who receive the grants. </p>
<p>deleted…</p>
<p>OP:</p>
<p>have you not taken AP Stats, or even Alg II? This is a really simple question that a high schooler should be able to answer, particularly one targeting a selective school like NYU.</p>
<p>btw: the NYU website clearly says that those needing fin aid should NOT apply ED.</p>
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<p>That does not mean per student. They may only give grants to 100 students…and the average was $26k. </p>
<p>Keep in mind that schools do not include the data from all the students who got lousy aid and didn’t attend.</p>
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<a href=“NYU Has Highest Total Student Debt in the Nation | by NYU Local | NYU Local”>NYU Local;
<p>No, dear readers we are not surprised, only bemused at the numbers of students who think history will not apply to them.</p>
<p>I agree that those who are looking for need based aid in order to determine if they can afford to attend NYU, should not apply ED. My daughter, who did get a substantial four year scholarship at NYU, applied RD. </p>
<p>nyu published its 2012-2013 financial aid numbers in its 2013-2014 common data set. </p>
<p>the average award that year was in the $26,000 vicinity, as well. however, only 44% of freshmen were awarded need-based aid, so that $26,000 average is really only representative of someone in or near the bottom ‘wealth’ quartile of the class.</p>
<p>those numbers actually seem pretty typical for a school that not known for great aid that tends to enroll wealthy students (even by selective school standards).</p>
<p>what jumps off the page is that in 2012 a full quarter of the schools student body received pell grants. thats high for a ‘tier 1’ school, let alone a ‘tier 1’ private, let alone a ‘tier 1’ private with awards averaging $26,000 given to only 44% of its incoming class.</p>
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<p>also keep in mind that the published financial aid data is only captures those who chose to enroll. given the significance of finances in the enrollment decisions of many students, one cant help but wonder what the numbers would look like for those admitted who chose not to attend. </p>
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<p>Likely worse, especially after finding out that even my miserly level of NYU awarded scholarship/FA was actually more generous according to several other NYU applicants/alums from my age group. </p>
<p>There’s a reason why most of us…including yours truly didn’t enroll. Especially when many academically comparable/stronger colleges were offering us much more FA/scholarship money to the point going there was nearly/totally free and thus, turning down NYU was a no-brainer. </p>
<p>Each time I hear another IRL friend/acquaintance recount debt incurred from attending NYU undergrad, I mentally thank my younger self for turning down NYU’s admission offer for my private LAC. A debt of nearly $100k is already unimaginable. Most of those friends have debt loads far in excess of that. </p>
<p>NYU may rely somewhat heavily on the glamor of its location and the relative short-sightedness of some applicants. It’s definitely a great school, but it’s not worth over $100,000 a year of debt to attend. For that amount of money, you can go to a much cheaper school and then find a studio apartment in Soho for four years after that if that’s what you really want. </p>
<p>Of course, by the time you reach that age hopefully you are mature enough not to move to the heart of New York City unless someone is paying you a ‘heart of New York City’ Wall Street salary.</p>
<p>As far as grant size goes, I think that the actual dollar amount of the grant is relatively meaningless. Most super-expensive private schools offer massive grants to some students, but when you compare the grant to the cost of attendance all it really does is bring the cost down from $65,000 a year to $47,000 a year, which for many people isn’t enough to really make a college affordable. Sometimes I think that colleges are pulling the version of the old gag where a retailer marks up an item 400% of its normal price and then offers a 75% reduction from that new (high) price on Black Friday to fool customers into thinking that it’s some kind of great discount.</p>
<p>As NYU is infamous here for poor financial aid, out of curiosity I just ran their NPC. I used a family of three (1 child) and selected the lowest family income bracket of under 30K. It came back as 61.9K in total costs and 38K in grants with a net price of $23,857. The Pell Grant had already been figured into the 38K, so roughly 24K would need to come from loans and the sky. Most families with an income under 30K would not be able to afford that. Maybe they offer some merit scholarships on top of the grants? Otherwise I have no idea how they could have 22% of their students receiving Pell grants.</p>
<p>I just played with the NPC a bit and even with 6 children with 3 in college and less than 30K family income, the numbers didn’t budge. Maybe they offer merit to NYC high school students? Or is there another source of grants for NY residents?</p>
<p>NYU definitely offers merit money to some kids, but I’m sure plenty of parents are foolishly co-signing on some gigantic PLUS loans.</p>
<p>^should be 23% Pell grant recipients. The actual average amount of grant aid from NYU (not including federal) is only 17,672 and is received by 55% of the students. So on average for all the students, even those not receiving aid, it’s less than 10K.</p>
<p>Their reputation is well deserved!</p>
<p>I imagine that some students commute. With a TAP grant, and that NYU grant and fed Pell and a modest student loan, it may be doable commuting.</p>
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<p>NYU had a larger commuter population even when I was starting college back in the mid-'90s. That was around the time many NYC area parents were already becoming skeptical of whether NYU was worth the high costs. </p>
<p>You also seem to have a pretty broad to the point of stretching it definition of “modest”. </p>
<p>The $100k of debt I’d incurred if I had accepted NYU’s admission offer back then included all that and assumed I would be commuting. Dorming would have caused that figure to balloon. </p>
<p>I don’t know any middle class family…much less a working-class/low income family who can come up with around $100k+ for 4 years back in the mid-'90s. </p>
<p>My younger self did the math and concluded NYU wasn’t worth that much in loan debt. </p>
<p>Also, considering NYU undergrad prestige beyond gems like Stern or Tisch, most admittees who qualified for full merit scholarships from NYU ended up accepting offers from Ivies/peer elites because of prestige and getting full-ride FA offers. </p>
<p>Jarjarbinks…your family owns a business that groses $150,000 to $170,000 a year (according to a post on another thread). It is VERY likely that some deductions allowed by the IRS were added bad in as income by NYU.</p>
<p>And FYI…the NPCs are NOT accurate for those whose parents own their own businesses or are self employed. So,whatever you got on the NPC doesn’t really matter…because of,the business.</p>