Scholarship Negotiation

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Tempo

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Scholarship Negotiation

Postby Tempo » Sun Jun 12, 2016 9:42 pm

So, I've put my deposit down for NYU next year. I'm still on the waitlist for Columbia and Berkeley. NYU isn't giving me any scholarship and already rejected my first negotiation. If I get off, say, Columbia's waitlist, can I try negotiating again? Or, likewise, if I get off Berkeley's waitlist this summer without money can I negotiate and say I'll go to NYU without any money?

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GFox345

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Re: Scholarship Negotiation

Postby GFox345 » Tue Jun 14, 2016 10:32 pm

Tempo wrote:So, I've put my deposit down for NYU next year. I'm still on the waitlist for Columbia and Berkeley. NYU isn't giving me any scholarship and already rejected my first negotiation. If I get off, say, Columbia's waitlist, can I try negotiating again? Or, likewise, if I get off Berkeley's waitlist this summer without money can I negotiate and say I'll go to NYU without any money?


If you do manage to negotiate anything, and it seems to me that you have very little leverage, you will almost surely not get a significant scholarship. Have you considered the ramifications of attending NYU at sticker? The COA for one year is $89,342. That works out to 332k at repayment. If you want to pay that off in 10 years, you're looking at a MONTHLY payment of $3,975 or $2493 monthly for 25 years. That's absolutely nuts, man. You have to have better options than that. Did you get into any other lower T-14s with any money? What's your GPA and LSAT? You honestly might want to sit out this cycle, retake, and reapply at the beginning of the cycle next year. It's only like 2 months away at this point anyway.

Seriously, man. Do you want to pay $2500 a month until you are 50 when you could potentially wait a year and get a much better result?

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Tempo

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Re: Scholarship Negotiation

Postby Tempo » Wed Jun 15, 2016 1:40 am

GFox345 wrote:
Tempo wrote:So, I've put my deposit down for NYU next year. I'm still on the waitlist for Columbia and Berkeley. NYU isn't giving me any scholarship and already rejected my first negotiation. If I get off, say, Columbia's waitlist, can I try negotiating again? Or, likewise, if I get off Berkeley's waitlist this summer without money can I negotiate and say I'll go to NYU without any money?


If you do manage to negotiate anything, and it seems to me that you have very little leverage, you will almost surely not get a significant scholarship. Have you considered the ramifications of attending NYU at sticker? The COA for one year is $89,342. That works out to 332k at repayment. If you want to pay that off in 10 years, you're looking at a MONTHLY payment of $3,975 or $2493 monthly for 25 years. That's absolutely nuts, man. You have to have better options than that. Did you get into any other lower T-14s with any money? What's your GPA and LSAT? You honestly might want to sit out this cycle, retake, and reapply at the beginning of the cycle next year. It's only like 2 months away at this point anyway.

Seriously, man. Do you want to pay $2500 a month until you are 50 when you could potentially wait a year and get a much better result?


With savings/money it will amount to 75k of loans. So I'm just trying to get whatever I can to reduce that small amount.

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GFox345

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Re: Scholarship Negotiation

Postby GFox345 » Wed Jun 15, 2016 8:55 am

Tempo wrote:
GFox345 wrote:
Tempo wrote:So, I've put my deposit down for NYU next year. I'm still on the waitlist for Columbia and Berkeley. NYU isn't giving me any scholarship and already rejected my first negotiation. If I get off, say, Columbia's waitlist, can I try negotiating again? Or, likewise, if I get off Berkeley's waitlist this summer without money can I negotiate and say I'll go to NYU without any money?


If you do manage to negotiate anything, and it seems to me that you have very little leverage, you will almost surely not get a significant scholarship. Have you considered the ramifications of attending NYU at sticker? The COA for one year is $89,342. That works out to 332k at repayment. If you want to pay that off in 10 years, you're looking at a MONTHLY payment of $3,975 or $2493 monthly for 25 years. That's absolutely nuts, man. You have to have better options than that. Did you get into any other lower T-14s with any money? What's your GPA and LSAT? You honestly might want to sit out this cycle, retake, and reapply at the beginning of the cycle next year. It's only like 2 months away at this point anyway.

Seriously, man. Do you want to pay $2500 a month until you are 50 when you could potentially wait a year and get a much better result?


With savings/money it will amount to 75k of loans. So I'm just trying to get whatever I can to reduce that small amount.


That's undoubtedly a better situation, but the fact remains that you could still save well into the six figures with a better cycle. Did you apply late, retake mid cycle, or something like that? It seems really strange to me that NYU is your only T-14 admit.



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