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FINANCIAL AID AND SCHOLARSHIPS

BASIC TYPES OF FINANCIAL AID

  • Scholarships and fellowships are funds that you do not repay. They are usually awarded on the basis of academic ability and/or financial need.
  • Loans are funds that must be repaid at a predetermined interest rate over a specific period of time.

Because of the School’s commitment to your educational goals and academic excellence we offer students the opportunity to receive either the Dean’s Fellowship, or a Merit Scholarship.

DEAN'S FELLOWSHIP
The Dean’s Fellowship is awarded on the basis of financial need. All accepted applicants must complete the Free Application for Federal Student Aid (FAFSA) to be considered for the Dean’s Fellowship. Dean’s Fellowship awards range from $500 to $4,000 per academic year.

MERIT SCHOLARSHIP PROGRAM
There are a limited number of Merit Scholarships available. They are awarded on the basis of financial need, academic achievement, and specific criteria applicable to each merit-based scholarship. All accepted applicants must complete the Free Application for Federal Student Aid (FAFSA) to be considered for the Merit Scholarship. Merit Scholarships range from $500 to $4,000 per academic year.

DEPARTMENTAL SCHOLARSHIPS
Many SCPS graduate programs offer a limited number of departmental scholarships.

TUITION REIMBURSEMENT
Many companies provide financial assistance to their employees to attend New York University. For more information, contact your human resources department. Also, full-time New York University employees and their dependents are eligible for a limited number of credits of tuition remission (exemption from tuition only) in each term, provided they qualify for admission and meet the deadlines for application. Contact the NYU Employment Office, 7 East 12th Street, 1st Floor, New York, NY 10003; or call (212) 998-1250.

STUDENT EMPLOYMENT
NYU provides a wide range of traditional employment opportunities for students, and all students can take advantage of the placement services offered by the Student Employment and Internship Center located at 5 Washington Place. The Center posts extensive listings of both on-campus and off-campus jobs.

OTHER FINANCING OPTIONS

Federal Government
The federal government provides funds for loans to eligible students who qualify.

Through the Stafford Loan Program, eligible graduate students may borrow up to $18,500 for the academic year. The total amount borrowed in any year may not exceed the cost of education, less all other financial aid received that year. Stafford loan disbursements are co-payable to NYU and the student, and funds are applied first to any outstanding balance on the student's account.

Requirements: For U.S. citizens and U.S. permanent residents, NYU requires only the Free Application for Federal Student Aid (FAFSA) in order to apply for assistance to help you pay for your graduate education. Based on your answers on this form, and using a formula mandated by Congress, the Department of Education makes an evaluation of your financial strength and estimates the amount you can contribute annually towards your educational expenses. This information is then sent to each college that you designate to receive the information. A FAFSA must be filed for each academic year in which you seek assistance.

Forms: To determine eligibility, you must first complete the FAFSA form. NYU prefers that applicants submit the FAFSA electronically. Please note that the application requires New York University's code number, which is 002785. The FAFSA printed version is usually available beginning in late November for the next fall.

PRIVATE SOURCES
A wide variety of private organizations offer financial assistance to students. Many corporations, foundations, unions, trade associations, religious intuitions, and community groups have established scholarship programs based on need and academic achievement.

Reynolds Foundation Graduate Fellowships in Social Entrepreneurship
New York University is delighted to announce new full-tuition scholarships from the Reynolds Foundation for graduate students interested in public service careers and social entrepreneurship. The Reynolds Foundation Graduate Fellowships in Social Entrepreneurship are available to students pursuing a Master's or professional degree in any of NYU's graduate or professional schools on a full-time basis, and include activities such as seminars with influential leaders in various fields and a special course on social entrepreneurship taught by a member of the faculty at NYU's Robert F. Wagner Graduate School of Public Service. Reynolds Fellows have the opportunity to meet other students interested in social entrepreneurship and public service from a wide range of disciplines throughout the NYU community. 

Talbot Scholarship

Private Loans for Graduate and Professional Students
Through a competitive bidding process, New York University seeks to provide private student loans to the greatest number of its students at the lowest available interest rates and with no fees. NYU’s Financial Aid Office features a variety of special loans for our students, followed by a varied and representative sample of the many additional providers of education funding. You are not required to borrow from any of the lenders listed below; we encourage you to compare information from other available student loan providers.

  • Nellie Mae/Sallie Mae Signature Student Loan for NYU Students: New York University works with various institutions to make the Signature Loan available to creditworthy students for payment of tuition and fees. Interest terms are competitive at a variable low rate. For more information visit NYU's Financial Aid Office. 
  • Citibank Loans for NYU Students: Citibank offers CitiAssist, a private loan designed to supplement government loans, at the bank's lowest available interest rate, equal to prime rate minus 1 percent. CitiAssist has absolutely no loan fees, no payments while in school, and flexible repayment terms. For a full description of Citibank's products and services and an APR example, call 1-800-745-5473 or visit NYU's Financial Aid Office.

PAYMENT PLANS
NYU offers or participates in a variety of payment plans. They range from a 12-month, interest-free prepayment plan to loan programs that allow you to finance the cost of your education over many years.

  • Monthly Payment Plan: The traditional University billing cycle of one large lump-sum payment due at the beginning of each semester makes it difficult for many students to pay educational expenses out of their current income. In response to this situation, NYU offers the Monthly Payment Plan in which all or a portion of a student's educational expenses may be paid in monthly, interest-free installments. The Monthly Payment Plan is not a loan program. Rather, it is a budget plan administered by Academic Management Services (AMS) that enables you to spread your payments over the course of the year. Participation in the plan typically begins in June, prior to the fall semester classes.
  • Deferred Payment Plan: If you are registered for six or more credits in a semester, the Deferred Payment Plan allows you to extend tuition payments. You may defer up to 50 percent of the net amount due each semester. Simply subtract the amount you wish to defer from your initial payment and repay it in two equal installments at an annual interest rate of 12 percent. For the fall semester, 50 percent of tuition is due at registration, and the balance can be paid in two equal payments in October and November. A similar program is available for the spring semester.
  • SCPS Deferred Tuition Reimbursement Plan: To encourage a greater number of people to realize their ambitions, SCPS has created a very reasonable Deferred Payment Plan. With the Deferred Payment Plan, students can defer their entire tuition balance until the end of the term when they have received reimbursement from their company. In order to take advantage of this financing alternative, students only need to complete the Credits Against Employer Tuition Reimbursement Plan and present a company letter stating their company's tuition remission policy. Students are then only charged a participation rate of 1 percent per month. For instance, if course tuition is $2,000, the student will be responsible for a charge of $20 per month. Payment of the full amount of tuition deferred is due by January 31 for the fall semester, and June 30 for the spring semester. To apply for this plan you may download the application and brochure.

DEADLINES FOR FINANCIAL AID
You are encouraged to file your 2007–2008 FAFSA no later than March 15 for the fall 2007 semester, and December 1 for the spring 2008 semester. Please note that these are priority deadlines only. You can file the FAFSA at any time within the academic year, but are advised to file before the start of class. The FAFSA requires five to six weeks for processing.

NOTIFICATION OF AWARD
If you are awarded aid, you will receive a financial aid award letter that will include details about your award package, as well as a summary of the assumptions made in constructing it.

FOR MORE INFORMATION
To learn more about financial aid opportunities, program administered scholarships, veterans' benefits, and deferred payment tuition plans, go to NYU's Financial Aid Office.

If you would like to download and print a version of this financial aid information, download our Financial Aid Brochure.