OMG NYU Fin Aid

[owen_osh]

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Just got my financial aid letter from NYU. I was hoping for the best since I think I saw in US News that the average grad only has about 80k of debt, but...

They expect me to borrow $45,000.00 my first year. OMG!
😱

 

[Yogi Bear]

Originally posted by owen_osh
Just got my financial aid letter from NYU. I was hoping for the best since I think I saw in US News that the average grad only has about 80k of debt, but...

They expect me to borrow $45,000.00 my first year. OMG!
😱

damn. just outta curiosity, what was your fafsa efc and what was the "cost of tuition" for nyu?

 

[kiping]

WHY SO MUCH???? 😱

 

[owen_osh]

NYU's total budget is $48,000.
Tuition is $30,500.

MY EFC was $0.

But, my parents made about $100,000 last year. Both are elementary school teachers. My dad retired this year, which was not reflected in the tax returns, and my mom might retire this year or next; so, maybe I can talk them into giving me a little bit more generous package.

Here's what I got:

Scholarship: 3,000
Perkins Loan: 3,600
NYU Sub. Loan: 3,000
Sub. Stafford: 8,500
Unsub. Stafford: 10,000
Additional Unsub. Loans: 20,000

At this point, I'm a little disgusted with NYU (in addition to being pissed about not having a second look weekend) and will be praying (metaphorically) to get good news from a better ranked school that might have more financial resources.

 

[surfdevl02]

Damn...that's rough...that's when you say 'state school'.....

 

[tgan]

that's a bargain...considering Penn state is 47K per year and michigan state is 60K (yes that's 60 K ~240K for 4 years) per year for outa staters. Costs of living in Hershey and lansing a fraction of that of NYC... hope that gives u a little perspective...48K ain't that much...and med schools do not really give out that much grants since they expect med grads to be able to pay their loans back.

 

[labangel]

To try and make you feel a little better...I know my school's fin aid office told us that for the first 2 years, there aren't that many scholarships available. But they do have more available for 3rd and 4th years. I guess that's why the overall debt averages out...at least that's what I'm hoping...

 

[wannabedoc81]

owen_ash,

I got practically the same package as you did (EFC-$0).
I could not believe it either and the package has definitely made me more desperate for a Mt. Sinai acceptance or an acceptance from the schools that waitlisted me...I don' t mind so much the subsidized loans but $20,000 in unsubsidized loans is rough.