NYU vs. Mt. Sinai - FINANCIAL AID

[1Sail0r]

---

Members don't see this ad.

Hello all,

I am adding one more NYC school to my list and it's between NYU and Mt. Sinai. I've been reading threads for the past hour on the differences between NYU & Mt. Sinai so I don't want to turn this into another one of those repeated threads. I am mainly concerned with which school gives more generous financial aid packages of the two. This could come from personal experience or what you've heard around SDN.

Thanks!

 

[OptimisticGirl]

I got quite generous finaid from NYU and know of others who did too. I didn't interview at Sinai however.

 

[almost2017]

Sinai is also ~12-14k cheaper per year than NYU when you consider tuition and housing differences. Not sure if NYU's finaid (however generous) can offset this disparity.

 

[1Sail0r]

Any other opinions?

 

[nBeeDee]

Sounds like you want to go to school in NYC. Why not just apply to both if you can afford it?

 

[mystifire]

I was accepted to Sinai this cycle and received an excellent aid package from them. However I was not accepted to NYU and cannot comment on the details of their aid. I would absolutely suggest Sinai. Their total COA is lower due to lower tuition and lower rent costs at their dorms. The unit loan at Sinai is about 31K, which is pretty reasonable. Sinai does not force you to take out the entire unit loan to receive grant/scholarship aid like some other schools do. If you have divorced parents then Sinai only considers income from your custodial parent only. Sinai just overall seems to have more generous financial aid policies. Their institutional loans are the best I've seen. The director of financial aid at Sinai is a really savvy guy who seemed excellent to work with. The dean of education at Sinai has made it a point to keep the debt of graduating students manageable. One of Sinai's current missions is to raise more money for funding medical education and scholarship sources.

 

[1Sail0r]

Sounds like you want to go to school in NYC. Why not just apply to both if you can afford it?

I'm already applying to 2 other schools in NYC, and want to choose only one more.

I was accepted to Sinai this cycle and received an excellent aid package from them. However I was not accepted to NYU and cannot comment on the details of their aid. I would absolutely suggest Sinai. Their total COA is lower due to lower tuition and lower rent costs at their dorms. The unit loan at Sinai is about 31K, which is pretty reasonable. Sinai does not force you to take out the entire unit loan to receive grant/scholarship aid like some other schools do. If you have divorced parents then Sinai only considers income from your custodial parent only. Sinai just overall seems to have more generous financial aid policies. Their institutional loans are the best I've seen. The director of financial aid at Sinai is a really savvy guy who seemed excellent to work with. The dean of education at Sinai has made it a point to keep the debt of graduating students manageable. One of Sinai's current missions is to raise more money for funding medical education and scholarship sources.

What do you mean by the unit loan? And is it possible to receive full financial aid from Sinai, as in having aid pay for the whole thing?

Thanks.

 

[mystifire]

Ive heard of people getting full tuition scholarships from Sinai but no one with a full COA scholarship, which would cover books and room and stuff, I believe they give about five full tuition scholarsips a year.

A unit loan is the minimum amount a school makes a student borrow per year before receiving grant aid. Those students with the most need would have the entire difference between COA and the unit loan filled with need based scholarship. For instance... Lets say you had a minimal family contribution of 4,000 and Sinai's COA is 68,000. Then you would borrow 31,000, your family gives you 4,000, and Sinai gives you 33,000 in scholarship.

If you still dont understand, Read pages 14 and 15 of this guide. This is the $$ handbook for HMS but it describes the unit loan in the exact same concept sinai uses.

http://hms.harvard.edu/sites/default/files/assets/Sites/Financial_Aid/files/HMSFinAidGuide.pdf

 

[mystifire]

By the way... most competitive med schools have moved to the unit loan concept... If you have a lot of financial need then i would only consider schools that offer unit loans (scholarships aside)