New York University’s tuition is increasing next fall, while financial aid is decreasing, but surprisingly the number of applicants is rising.
Many NYU students can agree that it is becoming harder for them to afford the school. In 2011-2012 the total cost of attendance, including tuition and housing will be 3.6 percent higher than it was this year. Financial aid will also increase next year by 3.8 percent.
But this represents a drastic decrease from previous years.
Despite these numbers, the 2010-2011 academic year was a record year for NYU applications with 42,242 total student applicants for the Class of 2015 topping its prior record of 38,037 applicants from the previous year.
“Although students and their parents may be making a financial reach to attend NYU, they feel that the level of education at NYU is above par and the opportunity to study in one of the greatest cities in the world is unparallel to other universities,” explained an anonymous NYU admissions office employee.
Several students argue that if NYU does not help make the tuition more affordable, then NYU’s incoming classes will begin to decrease in size. However, there are other students who believe that although NYU is hard to afford students will never stop applying because of the school’s prestige and location.
“The increase in tuition is disappointing,” stated 19-year-old, NYU sophomore, Emily Fiore, from Easton, Ct. “However, I knew coming into NYU that it was very expensive because it is a private institution, therefore, I expect things like this to happen. I worry that soon enough not as many students are going to be able to attend this university because of its expenses.”
New York University’s tuition for the 2011-2012 academic year will increase 3.8 percent from 2010-2011. The cost of room and board will increase by 3.1 percent making the total cost of attendance 3.6 percent higher than it was this year.
“It is really getting ridiculous, I have my daughter attending NYU now and another daughter who will be going to college in two years,” stated a concerned, fourth grade teacher from Syracuse, NY, Debbie Jeneault. “I’m going to have to start working more over the summer as well as have my daughters take out loans and apply for scholarships.”
In an article from NYU Local News, by Charlie Eisenhood, called, “NYU Announces Largest Cost Increase Since 2008, Much Smaller Financial Aid Boost” published on April 6, it was first reported that, “The aggregate increase in cost of attendance is the highest since 2008. Last year, the jump was 3.1 percent; in 2009, it was 3.4 percent. It’s important to note, however, that those increases were the smallest of the past twenty years.”
“Additionally, the percentage increase in undergraduate financial aid is down sharply from 5.8 percent last year and 7.8 percent in 2009,” the article stated.
After several attempts, financial aid office employees have declined to comment on the decrease in financial assistance for the upcoming school year.
Students have stated that this upcoming year’s tuition increase is partially due to new study abroad programs in Shanghai and Abu Dhabi, as well as a new center for academic and spiritual life in New York.
“I feel that it is ridiculous,” exclaimed NYU sophomore, Dhayna Chandramohan, 20, from New Jersey, as she threw her hands in the air. “I understand that the university is making expansions but I wish my tuition were going towards furnishing more things in New York and not in Shanghai, Abu Dhabi or at any other abroad locations.”
While some students feel that President Sexton's ambition to make NYU the first truly global university is the cause for the increase in tuition and why there is a struggle to afford tuition, others feel that the school will make an effort to help students afford the university with the amount of financial aid offered.
“NYU is a dream school because of its location and all that it offers, I don’t think the tuition going up would deter anyone from applying here,” explained NYU sophomore, Vivek Nayar, 19, from Syracuse, NY. “The tuition will always raise from year to year, but I believe NYU is doing all that it can in the way of providing its students a way to receive a proper education.”
“NYU is a very expensive university that will continue to expand. We must expect it and accept it,” stated, 20-year-old, NYU sophomore Ryan Horch from Long Island, NY. “I am taking out loans for two years and my parents are paying for the following two years. However, I feel that NYU is trying its best to make itself affordable so that our student population doesn’t decrease.”
In a university-wide email, sent by NYU President John Sexton, Provost David McLaughlin and Executive Vice President Michael Alfano, NYU students were informed of the increase in tuition.
"We operate today in a period in which a tuition-dependent university such as NYU faces growing pressures. Our re-engineering efforts and the annual savings they yield have placed NYU in a better position to confront these circumstances than many universities and colleges." The email also stated, "Nonetheless, we know there remain significant challenges with which we will have to grapple."
"Every budget is a balance of resources and needs, of aspirations and realities, of accomplishing as much as we can with what we have," the email explained.
“NYU is doing all that it can to offer its students a wonderful education. In doing so it makes such expansions that will help us prosper and grant us opportunities,” stated NYU sophomore, Matt Berkowitz, 20, from Boston, MA. “The tuition increase sucks, but without it we could not have such a great environment to learn in. Students will never stop applying to such an excellent school because of all that it has to offer, no matter what the cost will be.”
REPORTING
In creating this story I first did online research. I found articles and statistics that have helped me develop my main idea. I have discovered that as tuition at NYU is increasing, financial aid is significantly decreasing, but surprisingly student applications are rising.
I interviewed several students, parents, and employees at NYU to get their opinion on the matter. It was hard to get responses from several employees, however, I was persistent. It is quite challenging getting an employees opinion on such a touchy subject.
I read several articles as to why the increase in tuition is occurring. Most of the money is going towards study abroad programs. And with the amount of tuition increasing found out why there are more applicants than ever before.
Lastly I learned what actions students would take to make NYU affordable. Some take out loans while others apply for scholarships. NYU is a prestige university. Students will never stop applying.