<p>What it means is that you got 27,500 in free money. The rest is 5500 stafford loans and 2400 Perkins loan for you,this is per year.
NYU always puts the gap as a suggested Parent Plus loan. In your case, that would be approx 22,000 dollars per year. That doesnt mean your parents have to do that. Unless your parents have savings or you have outside scholarships. This is actually a very good package by NYU standards. They never claim to meet 100% of need. You can call and ask nicely to increase the amount but the most they would likely give is 1-2000 dollars more.</p>
<p>COA 59,000-275000=31500-7900(Perkins,Stafford)=23,400 is what has to be dealth with with outside scholarships, savings and/or parent plus loans.</p>