I'm just wondering if someone can explain how scholarships work...?

Question

I want to get into NYU but I would need a scholarship to do so. How do scholarships work exactly...do they cover a full tuition? I'm just really confused as to how they work..? Thank you for your help! =]

Answer 1

Scholarships are any gift of money that goes towards paying tuition.

There's many different ways to get them.

First, go to your Guidance Counselor and ask them for any local scholarships they know of and how to apply.

Next, go online.  There are tons of scholarships out there - you just have to apply for them!

Here's a good site:  http://www.scholarships.com/

Good luck!

Answer 2

NYU is quite competitive for scholarships. They will give you a small amount but you're expected to come up with the rest via private loans that either you or your parents take out. Speak to an admissions counselor at NYU. Fill out a FAFSA (A free financial aid application) online, if you haven't already done one in your Junior year, if you're a HS student. This form needs to be filled out each and every year that you are receiving financial aid, as it tell the government what you qualify for, and hooks you up with lenders for loans and grants.  

Scholarships and grants vary in amount and requirement. Neither  needs to be paid back.

Try this website below for individualized scholarships. It will ask very specific questions and route you towards scholarships you may qualify for.

Good luck! (PS - take your parents with you if they'll go as they might have support and information you're not aware of - just be aware its a daunting process, but so worth it!)

PPS - Loan consolidation is for after you've accrued loans, they don't provide the initial loan.

Answer 3

NYU is not a good choice if you need a full scholarship or really any kind of scholarship. They do have a few, but they go to recruited athletes, minorities and exceptional students who could get into the ivy league.

NYU's financial aid in general is poor, they do not meet full financial need and usually require large parent and student loans.This is why it's known as a rich kid school.

If your family is low income and you need substantial aid, look for schools that meet 100% of need. You can check schools for this on the College Board web site.