Financial Aid at NYU?

Yo guys, I got a question about NYU's financial aid. I've always dreamed of studying in NYC but the cost of attendance is kinda freaking me out. How generous is NYU when it comes to financial aid? Any firsthand experiences or good resources I could check out would be really appreciated. Thanks in advance!

Hello! NYU and NYC are certainly alluring, but it's a smart move to consider the financials as well. NYU has a reputation of being less generous with need-based aid compared to some other private universities. In the past, it's been known for 'gapping', where the financial aid package does not fully meet a student's demonstrated need. However, in recent years, they've been making efforts to improve this.

Let's break it down. As with most universities, NYU offers need-based aid and merit-based aid. The level of need-based aid you could get depends primarily on your family's income and assets, which you'll report on the FAFSA (Free Application for Federal Student Aid) or the CSS Profile (College Scholarship Service Profile). The result from these forms will be your Student Aid Index (SAI); the lower your SAI, the more financial aid you're generally eligible for. You should especially understand that NYU isn't a school that meets 100% demonstrated need for all admitted students. That means NYU's financial aid packages may not cover the entire cost of attendance, leaving a gap that you'd need to cover out-of-pocket.

For merit-based aid, NYU offers a small number of substantial merit scholarships, primarily to top performing students. These are awarded on the basis of academic, creative or leadership merit.

If you're applying Early Decision and financial aid is an important factor for you, make sure to carefully evaluate your finances. While finances can be a legit reason to withdraw from an ED agreement, it's wise to have an estimate before applying by using the net price calculator found on NYU's financial aid page.

Ultimately, your financial aid package will depend on your specific situation, and the best way to estimate what you might receive is to use NYU's net price calculator (https://npc.collegeboard.org/app/nyu). This will take into account your family's financial situation and provide you with an estimate of the financial aid package you could receive if you're admitted.

Please remember this is general advice, and it's important to reach out to NYU's Financial Aid office for the most accurate and personalized information. Good luck!