<p>So a friend of mine is attending Steinhardt and when she told me how much she had to pay, I was absolutely stunned. </p>
<p>For starters, here is an outline of her life. </p>
<p>-Female
-Asian
-B+ GPA, ~1900 SAT, No SAT IIs
-Applied RD
-Attended one of the top high schools in NYC</p>
<p>So yeah… Anyone else getting some similar aids? </p>
<p>Cuz right now, I don’t know what air is…</p>
<p>It happens, but it is not typical.</p>
<p>Ok, your friend is attending the Steinhardt School of Education at NYU. </p>
<p>NYU is a school that is a school that does not meet 100% demonstrated need. </p>
<p>While they do give some merit $$ their big merit $ is reserved for students at the tippy top of the applicant pool. Even then their top award (~25k) does not put a big dent in the COA to attend NYU, so there is still a good amount of $$ to be paid by the family.</p>
<p>Unfortunately, a B+ GPA and a 1900 sat does not put your friend in the field of getting big merit aid at NYU. To me, it is not unusual as there are a ton of threads about students/families who are unhappy about their NYU packages.</p>
<p>yeah, I agree. perhaps she is borrowing the entire coa from a private source, ie. a bank. We were offered that option by NYU before. Which means you will be paying the loan back in installment as soon as it is loaned to you, fully amortized. You might end up with $250K loan balance upon graduating from NYU. I believe the interest rate offered was more than 8%.</p>
<p>I have to clarify, she only pays $10,000 and that is WITH loans. Her grants and scholarships are numerous. And no, they are NOT merit scholarships.</p>
<p>^^sure, here is a simplified illustration of how much a student has to pay if the entire 4 years of COA is borrowed at 8% interest rate, 30 years payout terms</p>
<p>Year Cumm loan amt yearly payment
1 $60K $5280
2 $120K $10560
3 $180K $15840
4 $240K $21120</p>
<p>Total payment four years $52,800 Avg per year $13,200
However, you are locked in $21,000 /year debt for the next 30 or so years after graduation</p>
<p>The above illustration did not put into the consideration of princpal reductions and the money borrowed should be on twice per year basis.</p>
<p>Tuition at NYU is $41,614 a year or 20,807 per semester. </p>
<p>Did she have to pay $10,000 this semester or $5000 this semester and $5000 next semester?</p>
<p>How were her loans broken out? Does she have stafford and Perkins loans? </p>
<p>How much of her award is work study/</p>
<p>Would you be able to post the breakout of her financial aid package?</p>
<p>Are her parents paying any money put of their own pockets (their EFC) in addition to the loans that she has received.</p>
<p>Something seems a little “off” here. For one thing, at least as of a few years ago, NYU required 2 SAT II’s.</p>
<p>The testing policy has recently changed.</p>
<p>
[quote]
Standardized Testing</p>
<p>To be eligible for admission, applicants are expected to submit results from one of the following testing options:</p>
<p>The SAT Reasoning Test; or
The ACT (with Writing Test); or
Three SAT Subject Test scores; or
Three AP exam scores; or
The International Baccalaureate Diploma; or
Three IB higher-level exam scores (if you are not an IB Diploma candidate); or
Students may instead elect to submit results from a nationally accredited exam that is considered locally to signify the completion of secondary education and is administered independently of the student’s school.
Examples include but are not limited to:</p>
<p>GCE Advanced Level Examinations (or equivalent combination of AS-Level and A-Level examinations). AS-Level and GCSE/O-level examination results should also be submitted if available;
European Abitur, Baccalaur</p>
<p>Thanks, sybbie. I stand corrected.</p>