Scholarship negotiation strategy *Updated*

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MachineLemon
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Scholarship negotiation strategy *Updated*

Postby MachineLemon » Wed Mar 21, 2012 12:22 pm

Hey everybody, I am planning to ask NYU for more money. I have a better offer from Michigan to work with. Not sure if NYU will budge, but it can't hurt. However, if they don't up their offer, I will withdraw.

How should I approach the letter? Should I ask for a specific amount or just an increase? Should I mention my intention to withdraw without additional scholarship assistance?

Also, I'm expecting a sizable award from Cornell. Since NYU and Cornell both feed the same market, would a substantial offer from Cornell offer carry extra weight? Presumably this offer will be higher than my Michigan offer. Not sure if I should wait on Cornell. NYU's deposit deadline is rapidly approaching. Any thoughts?

Cheers.

Edit: Is it best to email admissions or financial aid? I have heard of people getting different results.
Last edited by MachineLemon on Wed Mar 21, 2012 2:49 pm, edited 1 time in total.

CanadianWolf
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Re: Scholarship negotiation strategy

Postby CanadianWolf » Wed Mar 21, 2012 12:27 pm

Be straightforward & honest. You must act now since NYU's deposit deadline is approaching. Share your other offer from Michigan with NYU; also, tell NYU that you expect scholarship money from Cornell, but that NYU is your first choice if they will match Michigan's offer. This is just one approach/strategy.

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MachineLemon
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Re: Scholarship negotiation strategy

Postby MachineLemon » Wed Mar 21, 2012 1:06 pm

Thanks, any chance of better than matching? Should I ask for better? COL alone will make NYU substantially more expensive even with the same scholarship.

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MachineLemon
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Re: Scholarship negotiation strategy *Updated*

Postby MachineLemon » Wed Mar 21, 2012 2:50 pm

Bump for updated OP.

justinp
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Re: Scholarship negotiation strategy *Updated*

Postby justinp » Wed Mar 21, 2012 3:20 pm

I'd just call up the admissions office and ask to talk to the person that handles merit-based scholarships. They understand the game, so just tell them what's going on and ask how you should go about requesting a review of your financial aid package in light of other offers.

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Bronck
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Re: Scholarship negotiation strategy *Updated*

Postby Bronck » Wed Mar 21, 2012 3:37 pm

Email financial aid office. They'll then ask you to file the appeal formally on FAAPS.

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MachineLemon
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Re: Scholarship negotiation strategy *Updated*

Postby MachineLemon » Wed Mar 21, 2012 3:53 pm

Bronck wrote:Email financial aid office. They'll then ask you to file the appeal formally on FAAPS.


Cool, thanks! Done.

I wrote the letter in iambic pentameter, we'll see who's reading closely.

Note: I did not write the letter in iambic pentameter.




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