Money Money Money

<p>I was recently accepted into Stern and of course I was very excited. However, after the initial joy wore off, I realized how much the burden of paying for NYU would be on my family. I have not received my financial aid results yet, but after being rejected from Chicago EA I was stupid and put off applying for FAFSA 10 days after the preferred deadline. Does anybody know how much this will hurt me? My EFC according to FAFSA is 42880. What are the chances i'll get Financial Aid and how much?
One last thing, will I still be considered for NYU merit based scholarships even though I applied for FAFSA late? How much will applying late decrease my chances? </p>

<p>Thanks a Lot</p>

<ol>
<li><p>everyone is considered for merit scholarships (not sure how a late fafsa would affect your 'chances'. My guess is that you will have to be a very top prospect to get a scholarship that will cover a significant portion of your EFC</p></li>
<li><p>the only federal aid you will get with an EFC of over 40K is an unsubsidized stafford loan. ANY student is eligible for this.</p></li>
</ol>

<p>You will not get any other federal aid such as Perkins loans those are for lower income students. And obviously do don't qualify for a Pell grant</p>

<p>Don't be surprised to see a 8-10K scholarship + 3500 of Unsubsidized stafford loan + the EFC</p>

<p>i applied late too :( hopefully it doesn't affect it too much..</p>