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Undergraduate Admissions

FINANCIAL ASSISTANCE

APPLYING FOR AID
The Free Application for Federal Student Aid (FAFSA) is the only federal application needed to determine eligibility for financial aid. We encourage all eligible students to file the FAFSA, regardless of financial circumstances. If you are a new student in the process of applying for admission, we encourage you to apply for financial assistance when you apply for admission. You will not be considered for any financial assistance, including scholarships, unless you file the FAFSA. (To be eligible to file the FAFSA you must be a U.S. citizen or permanent resident.   If you are not a citizen or permanent resident of the United States, then you are not eligible to file the FAFSA to be considered for financial aid, but you may still qualify for alternative financing options and payment plans.  For more information on all of the assistance programs for international students, visit www.nyu.edu/financial.aid/international.)

You may file the FAFSA at any time throughout the academic year, but keep in mind that processing may take several weeks.  Therefore, we encourage you to file as early as possible.  Additionally, filing the FAFSA electronically greatly expedites the process.  The FAFSA may be filed online at www.fafsa.ed.gov.  Please use NYU’s school code of 002785 when submitting the FAFSA to ensure that NYU receives your application.

Financial aid packages are issued by the NYU Office of Financial Aid to McGhee students who file the FAFSA. Your financial aid package will include information on the financial aid for which you qualify, and you can then choose the aid you wish to accept or decline.  Information on various types of financial aid is listed below.

For more details, please visit the website for the NYU Office of Financial Aid: http://www.nyu.edu/financial.aid/.


BASIC TYPES OF FINANCIAL AID

  • Scholarships are funds that you do not repay. They are usually awarded on the basis of academic ability and/or financial need.
  • Grants are funds that you do not repay.  They are awarded on the basis of financial need.
  • Loans are funds that must be repaid at a predetermined interest rate over a specific period of time.
  • Payment plans are available to assist students with financing all or part of any portion of expenses that must be funded by personal resources.
     

SCHOLARSHIPS FOR NEW STUDENTS

SCPS Scholarship
Qualified students may be awarded up to $7,000 per academic year.  These scholarships are based on financial need and academic potential and are awarded upon completing the FAFSA. No additional application is necessary. . If you are a new student in the process of applying for admission, please note that priority consideration is given to applicants with a complete application for admission on file by the recommended application submission date for their intended term of entry. However, all eligible applicants with a complete application on file by the final application deadline will be considered.


SCHOLARSHIPS FOR CONTINUING STUDENTS

McGhee students are eligible to apply for the following scholarships after their first semester of study:

McGhee Scholars Program
McGhee Scholars are selected each year based on academic performance, and application and essay, and faculty recommendations.  McGhee Scholars are awarded $7,000 per academic year.

Bernard Osher Foundation Re-entry Scholarship
Specifically for adult students returning to college, this scholarship awards up to $2,500 per academic year based on academic potential and financial need.

Etta Kallman Memorial Scholarship
This scholarship was established to provide financial assistance for short-term, travel/study abroad for adults who, because of financial constraints and/or family and work conflicts, are usually denied this enriching experience.  Awards range from $1,000 to $2,000 each.

Arthur Schlansky Memorial Scholarship
This $1,000 award provides financial assistance to students working on degree-related independent research projects in the Social Sciences developed in conjunction with members of the McGhee faculty.

Stenbeck Scholarship
This scholarship provides financial assistance to students pursuing either a Bachelor of Arts in Social Sciences with a concentration in Media Studies or a Bachelor of Science in Digital Communications and Media.  Awards range from $2,500 to $5,000 each.

Shimkin Scholarship
This award is a $300 credit to the NYU Bookstore.

  • Applicants are automatically considered upon filing the FAFSA.

Additional Scholarship Opportunities
Consult the scholarship reference books in McGhee’s scholarship library at 726 Broadway, 6th floor, to find additional scholarship opportunities. Please present your NYU ID at the McGhee reception desk.

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GRANTS

Federal Pell Grants
The Federal Pell Grant Program provides assistance to undergraduate students who demonstrate financial need according to requirements established by the federal government.  For the 2009-2010 academic year, eligible students will be awarded between $509 and $5,350.  You are automatically considered for the Pell Grant upon filing the FAFSA.

TAP (Tuition Assistance Program)
TAP is a grant awarded by the State of New York.  Legal residents of the State of New York who are enrolled in a full-time degree program may be eligible for awards under this program.  For the 2009-2010 academic year, eligible students will be awarded between $500 and $5,000.  TAP is based on financial need, and you must file a FAFSA and a separate TAP application.  If you qualify for TAP, the TAP application instructions will be included in your FAFSA results.

APTS (Aid for Part-Time Study)
APTS is a financial aid program to help New York State residents pursuing part-time undergraduate degree study.  For the 2009-2010 academic year, eligible students will be awarded up to $2,000.  This award is based on financial need, and you must file the FAFSA and APTS applications to be considered.

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LOANS

Federal Stafford Loans
Federal Stafford Loans are low-interest loans made to students enrolled for at least six credits each semester.

There are subsidized and unsubsidized Federal Stafford Loans. Subsidized loans accrue no interest while you are attending school. Unsubsidized loans do accrue interest while you are attending school. Payment on Federal Stafford Loans begins six months after graduation or before if you fall below half-time status (6 credits).  Payment for interest on unsubsidized Stafford loans starts 60 days after the loan funds are credited to your bill, but can be deferred. The current limits for Subsidized loans are $3,500 for freshmen; $4,500 for sophomores; and $5,500 for juniors/seniors.  The current limits for Unsubsidized loans are $5,500 for freshmen; $6,500 for sophomores; and $7,500 for juniors/seniors (all amounts minus any subsidized Stafford loan). 

Additional unsubsidized loans can be obtained if students meet certain eligibility requirements. Freshmen and sophomores may borrow up to an additional $4,000 each year, and juniors and seniors may borrow up to an additional $5,000 each year.

Private Loans
Private loans are available to students in need of financial assistance in addition to the other resources listed on this webpage.  Additionally, students enrolled in fewer than six credits may apply for private loans.  Information on private loan options is available through the NYU Office of Financial Aid at www.nyu.edu/financial.aid/private.loans.ug.php.

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PAYMENT PLANS

NYU has developed several payment plans to assist students with financing all or part of any portion of expenses that must be funded by personal resources.  For additional information on payment plans, please visit the Office of the Bursar at www.nyu.edu/bursar.

TuitionPay Plan
TuitionPay is a payment plan administered by Sallie Mae, Inc.  This is an interest-free plan that allows for all or a portion of a student’s educational expenses to be paid in monthly installments.  There is a nonrefundable enrollment fee of $55. 

Deferred Payment Plan
The Deferred Payment Plan allows students to pay 50 percent of the net balance due for the current term on the payment due date and defer the remaining 50 percent until later in the semester.  This plan is available to eligible students registered for six or more credits per semester and who do not have a previous unsatisfactory university credit record.  Students are charged a nonrefundable application fee of $7.50 for each $1,000 deferred.

SCPS Deferred Tuition Reimbursement Plan
The Deferred Tuition Reimbursement Plan allows students with the benefit of employer tuition reimbursement to defer the portion of their tuition balance that will be reimbursed by their employer to the end of the term when they have received reimbursement.  Students are charged a participation fee of one percent per month of the deferred amount beginning the first day of class until payment is made.  In order to take advantage of this financing alternative, students only need to complete the Credits Against Employer Tuition Reimbursement Plan application and present a company letter stating their company's tuition remission policy.. 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, please download the application and brochure.

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IF YOU HAVE ADDITIONAL QUESTIONS
Developing a plan for financing your education is important.  We encourage you to review the list of FAQs available on the NYU Office of Financial Aid’s website. To discuss these financial assistance options and resources in further detail, new students are invited to contact an Admissions Counselor in the NYU-SCPS Office of Admissions. If you are a current student, please contact the McGhee Advising Office at (212) 992-9055 or mcghee.advising@nyu.edu.