AT NYU NAVIGATING FINANCIAL AID
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NAVIGATING FINANCIAL AID AT NYU >>>>>>>>>>>>>>>>>>
NYU BY THE NUMBERS YOU ARE HERE:
3
campuses in New York City,
Abu Dhabi, and Shanghai
Considering NYU
>>>>>>>>>>>>>>>>>>>>>>>
11
global academic centers
in Africa, Australia, Europe, If you have already applied for financial
North America, and South
America aid, then you’ll soon find out what NYU
21,000+ may be able to offer.
undergraduate students
NYU is committed to providing
230+
areas of study many different ways for students to afford
3,900+ an education. In most cases, you and
undergraduate courses
your family will be responsible for a
portion of the cost. Once you and your
family have navigated all the options
and mapped out a plan for financing your
education, you can confidently make
NYU your university.
Ready to get started? Let’s go.
KNOW THE SIGNS:
Learn the Basics
NYU ALLOCATES
While the primary responsibility of paying for your education lies with you MORE THAN
and your family, NYU coordinates private as well as state and federal government $240 MILLION
resources to help you reach your goal of studying at NYU.
ANNUALLY FOR
UNDERGRADUATE
FINANCIAL AID.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
FINANCIAL AID FOR
There are basically three sources of 2. Private Sources THE 2013-2014
aid from which a financial aid award Private organizations, including FRESHMAN CLASS
is developed. corporations, foundations, unions, trade
associations, churches and synagogues, $31,273
1. Federal and State Governments community groups, and even secondary average award for
entering freshmen
The federal government provides schools, offer an array of financial
funds for grants, loans, and employment assistance to students. A free scholarship $25,556
opportunities for students who meet search tool is available on NYU’s website average scholarship
eligibility criteria. The Federal Pell at nyu.edu/financial.aid. grant/award for
Grant, Federal Supplemental entering freshmen
Educational Opportunity Grant 3. Scholarships
(FSEOG), and Federal Work-Study While a small number of merit-based
Program are based on demonstrated scholarships are available, NYU is
financial need and do not need to committed to using the vast majority of
be paid back. The Perkins Loan and its scholarship funds to assist students
Subsidized Federal Stafford Loan whose families are unable to pay the full
are both need-based loans, while cost of an NYU education. Almost all
the Unsubsidized Federal Stafford scholarships—even those where merit
Loan and PLUS Loan are not based is considered—are based on need.
on financial need. If you reside in “My parents were concerned about the cost
of tuition, and so I almost didn’t apply. But
New York State, the Tuition Assistance I wanted to see what would happen if I was
Program (TAP) offers grants to accepted. With an NYU scholarship, federal
and state financial aid, and low-interest
eligible students. student loans, we found a way to make it work.”
—John Chen, Class of 2015
required to log back into the FAFSA to Shanghai using the Gaokao exam.
update your information. The FAFSA The CSS/Financial Aid PROFILE
S T AY O N TR A C K : must be submitted each year to application is administered by the College
Apply and Meet the Deadlines
determine and renew financial aid. Board and can be submitted in the fall
as early as October 1 but not later than
CSS/Financial Aid PROFILE February 15. Please be aware of the
Consideration for admission and financial aid at any university first depends The CSS/Financial Aid PROFILE is application deadlines, which vary based on
on filling out forms in a timely manner; meeting the application deadlines is required for all new freshman students your admissions application type (see table
mandatory. NYU requires two financial aid forms: the CSS/Financial Aid (domestic and international) applying below). You must list New York University
PROFILE and, for applicants to New York City or Shanghai, the FAFSA. to the New York City, Abu Dhabi, and as a recipient and include NYU’s school
Shanghai campuses. It is required every code number (002785) when completing
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> year for all international students to renew your CSS/Financial Aid PROFILE for your
their financial aid. It is not required for information to be forwarded to NYU.
FAFSA The form should be completed and sent
transfer applicants, returning domestic Students with divorced, separated, or
If you are a US citizen, permanent resident, for processing as soon as possible after
undergraduate students, students unmarried parents also need to fill out the
or otherwise eligible noncitizen, you must January 1 but no later than February 15
applying to the Paul McGhee Division Noncustodial Parent PROFILE (or obtain
complete the Free Application for Federal for freshmen or April 1 for continuing and
at the NYU School of Professional Studies, an NYU-approved waiver). For more
Student Aid (FAFSA) to be considered transfer students. Students eligible to file
or Chinese nationals applying to NYU information, visit nyu.edu/financial.aid.
for federal financial aid. This online the FAFSA must complete both financial aid
application, available each year after applications (FAFSA and CSS/Financial Aid Keep these important NYU dates in mind.
January 1, asks for detailed information PROFILE) by the designated NYU deadlines
Admissions Application CSS/Financial FAFSA Admissions
about your family’s financial circumstances. to be considered for most scholarships. Application Deadline Aid PROFILE Deadline Decision
Using a formula mandated by Congress, Please do not wait to have completed Type Deadline Notification
Date
the US Department of Education evaluates your taxes to file the FAFSA. You may
your family’s financial strength and complete the FAFSA using estimated
Early Decision I November 1 November 15 February 15 December 15
estimates the amount your family can financial information to meet the deadline.
afford to contribute annually toward After completing your taxes you are Early Decision II January 1 January 15 February 15 February 15
your education expenses. The Department Regular Decision January 1 February 15 February 15 April 1
CAUTION: Avoid sticker shock and just apply!
of Education then sends your family’s The only way to know for certain how much it Beginning
Spring Transfer* November 1 N/A November 15
financial information and its estimate will actually cost you to attend NYU is to apply mid-November
for financial aid.
of family contribution to each college you Since the amount you can pay toward college Fall/Summer April 1 N/A April 1 Throughout the
(your expected family contribution) will be about Transfer† month of May
designate to receive the information. the same regardless of which institution you
When you file the FAFSA (fafsa.ed.gov), choose to attend, it is possible that with a sufficient All applicants except for spring transfer applicants should file the Free Application for Federal Student Aid for the academic year
amount of financial aid, it may cost you no more in which they plan to enroll after January 1 and complete it by February 15.
please indicate that your data is to be sent to to attend NYU than it would cost you to attend a * Spring transfer applicants should file the FAFSA for spring entry.
college with much lower tuition costs.
New York University, code number 002785. †
Transfer applicants to the College of Nursing have a November 1 application deadline and receive notification beginning April 15.
Note: The Leonard N. Stern School of Business and Tisch School of the Arts only offer admission to transfer students in the fall term.
ESTIMATED COST
OF ATTENDING NYU CALCULATE YO U R O P TI O NS:
Understanding the Costs
(2014-2015)
Expenses for new
undergraduates at the
New York City campus
(freshmen and transfers) The cost of attending NYU includes both direct education expenses and living
$46,170 expenses. Tuition and fees are consistent from student to student, but your total
annual tuition and mandatory expenses will vary depending on factors such as where you live and your personal
fees*
spending habits.
$1,590
school-based fees, books, and >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
supplies
$2,000 NYU estimates a budget for each student Determining how much your family
personal expenses that includes can pay toward college expenses is an
(living in university housing) intricate process that involves much more
n Tuition and fees
$2,000 n Room and board allowance
than looking at how much your parents
personal expenses earn. There are normally four major
(living at home) n Books and personal expenses
factors used in determining a family’s
$16,782 (standard estimate)
ability to pay for college tuition:
housing and food n Transportation allowance
(living in university housing) n Income
$3,198 Family Contribution
n Assets
housing, food, and Financial aid supplements your family’s n Family size
transportation
(living at home) resources, but you and your family will n Number of children in college
be expected to contribute as much as
Total Budget
you can afford toward your education Families that do not qualify for need-
$66,542 expenses. It’s often a substantial based federal or state aid the first year may
living in university housing
commitment of your resources, but be eligible in future years if circumstances
$52,958 don’t jump to conclusions about the change—for example, when another child
living at home
amount or your ability to afford enters college.
*For Stern School of Business students,
tuition and fees total $46,684. For Tisch
NYU. Most students would not be able
School of the Arts students, tuition and
fees total $50,696.
to attend college at NYU without the
financial assistance they receive.
SCHOLARSHIP PROGRAMS
All students who are offered
admission to NYU are
automatically considered for
merit scholarships. No additional
application is required.
CH OO SE YO U R R O UTE:
Make a Plan AnBryce Scholarship
The AnBryce Scholarship is
awarded to academically
talented freshmen who are the
Each financial aid award may be composed of three types of funding: scholarships first in their families to attend
college. Students who receive
and grants, loans, and employment. the award participate in
educational and cultural
activities as well as orientation
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> and mentoring programs.
1. Scholarships and Grants 3. Employment ARCH Scholarship
A select group of first-semester
n Funds are not repaid. n You will be eligible to work on freshmen who are committed
campus if your financial aid award to making a positive impact on
n Funds are typically awarded for
the world will receive ARCH
academic ability and/or financial need. includes funds from the Federal Scholarships. Students are
Work-Study Program; many positions introduced to professional life
2. Loans skills and future opportunities
are available in a wide range of through a unique internship and
n Funds are repaid with interest departments on campus, although career development program.
over time. they are not guaranteed. Dean’s Scholars
n Government and private loans are n You may also seek work off Dean’s Scholars are select
students admitted to the
available for qualified applicants. campus for supplemental income; College of Arts and Science
although off-campus jobs are not who have been identified for
Federal Work-Study outstanding academic and
If your financial aid award includes funds part of any given award, NYU’s personal achievements.
from the Federal Work-Study Program, you
Wasserman Center for Career These students receive a
are eligible to work on campus and earn up
scholarship grant that covers
to the amount recommended on your award Development is a great resource
letter. You are not required to meet your the full cost of their NYU tuition.
earnings expectation through the Federal for finding employment. In addition, Dean’s Scholars
Work-Study Program, and you may choose become members of the
not to accept the work-study and seek college’s Presidential Honors
employment in an on- or off-campus job Bridging the Balance Scholars Program and are
with employer-paid wages. However, it’s
Because there will likely be a balance given top priority in the
possible that you can find a work-study
position related to your chosen field and earn
selection of classes offered
valuable experience along with a paycheck.
required from you and your family, through the Freshman Honors
NYU has developed several plans to Seminar Program.
assist families. (continued on the next page)
(continued) TuitionPay Plan Fixed Payment Plan Private (Nonfederal) Alternative Loans
Administered by Sallie Mae, this The NYU Fixed Payment Plan NYU students should apply for all
Martin Luther King, Jr.,
Scholars Program interest-free plan allows all or a portion eliminates the uncertainty of future eligible federal assistance available (by
The Martin Luther King, Jr., of a student’s education expenses increases by allowing families to submitting the FAFSA) before
Scholars Program awards
both need-based and merit (including tuition, fees, room, and board) prepay up to four years of tuition, considering a private alternative loan.
scholarships to incoming to be paid in monthly installments. Instead fees, room, and board at the current Most private loans are more expensive
freshmen with outstanding
academic credentials who of one lump-sum payment due at the semester rates established for full-time than federal loans; terms, conditions,
also demonstrate a commitment beginning of each semester—August for undergraduate students. The payment and eligibility requirements vary, and
to the ideals of Martin Luther
the fall semester and January for the spring required is determined by the length the borrower (and coborrower, if
King, Jr.—community
service, humanitarianism, semester—TuitionPay enables a family of the agreement selected (minimum applicable) should first compare a variety
and social progress.
to spread payments over the course of the of two years/four semesters and a of private student loans offered by
Lewis Rudin City Scholarship academic year. By enrolling in this plan, you maximum of four years/eight semesters banks and other education loan providers
Rudin Scholars are outstanding spread your fall semester tuition payment beginning with the fall semester) and and apply only for the alternative loan
incoming freshmen selected
from public and parochial high over a four-month period (June through the applicable tuition and fees for that best suits their needs.
schools in all five boroughs September) and your spring semester tuition the NYU school or college you attend. For more information on any of
of New York City. Scholars
participate in academic and payment over another four-month period Payment must be made in a lump sum. these programs, visit the NYU Office of
cultural activities in New York (November through February). Please note that this program is the Bursar website at nyu.edu/bursar/
City and study trips both in the
United States and abroad. available only to students who are not paymentplans or call 212-998-2806.
Deferred Payment Plan receiving any form of financial aid,
Smilow Scholarship
The Deferred Payment Plan allows you to loans, or scholarships. Choosing the Right Direction
The Smilow Scholarship awards
NYU graduates enjoy some of the highest
generous financial assistance extend tuition, room, and board payments starting salaries in the nation. For example,
to a small group of exceptionally the average starting salary for NYU College
over one semester. You pay 50 percent of your Tuition Stabilization Plan
talented US students interested of Nursing graduates is $76,099—over
in studying science, technology, net balance due for the current term on the Avoid tuition increases by joining this $23,000 more than the national average.
engineering, and math fields And the NYU Polytechnic School of
payment due date and defer the remaining prepayment plan. It guarantees your Engineering is No. 3 in the nation for
at NYU. Smilow Scholars
50 percent until later in the semester. The tuition rate for up to five consecutive best 30-year return on investment,
participate in bimonthly according to PayScale’s 2013 College ROI
seminars, a career-planning remaining 50 percent can be paid in two equal years or until graduation, whichever (Return on Investment) Report.
series, and unparalleled
research opportunities. installments: October and November for the comes first. This plan is applicable
Participation in the program fall semester and March and April for the to tuition and fees for the fall and
also includes a community
service component, a weeklong spring semester. An interest rate of 12 percent spring semesters only and cannot be
service trip, and a semester per year on the unpaid balance will be used for room, board, or summer
abroad, all funded by NYU.
assessed if payment is not made in full by semester expenses.
the final installment due date.
ASK FOR D I R EC TI O NS:
Frequently Asked Questions
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
What are the chances of Do aid packages carry forward throughout
receiving financial aid from NYU? the entire four years of education?
Nearly half of students who apply for If a student receives assistance as a
aid receive some form of assistance from freshman, the family can usually expect
NYU. Financial need is determined a renewal of aid in subsequent years as
by a number of factors; therefore, families long as they continue to demonstrate
are encouraged to apply for financial financial need. NYU will renew financial
aid—families are often surprised to find aid awards (scholarship awards are typically
out that they are eligible. You won’t find renewed at the same amount, subject to
out what kind of aid will be awarded fund availability) if the family continues
unless you apply! to meet eligibility requirements and if the
student meets academic progress standards,
Will applying for financial aid maintains full-time status, and applies for
affect a student’s chance of admission? financial aid on time each year.
For US citizens applying to the New
York City campus and for all applicants What if the family doesn’t qualify for
to the Abu Dhabi and Shanghai campuses, aid or needs additional assistance?
financial aid and admissions decisions NYU has developed several payment
are made independently. For non-US plans that help families who do not qualify
citizens applying to the New York City for need-based aid or who require
campus, the admissions process may additional financial assistance. Students
be need-aware. who experience a change in their financial
circumstances should contact the NYU
Office of Financial Aid.The NYU Wasserman Center
for Career Development polled
the graduating Class of 2013
from September to December
of 2013 and discovered that
94%
of respondents were either
employed or enrolled in a
graduate or professional
school program “ In my life, I’ve learned that when
you do not commit, you do not risk
46 % and you discover you should
have….The myth of the risk-free
of respondents received two
life is just that: a myth.”
or more job offers
—Alec Baldwin
The overall mean salary for
2013 respondents was Actor Alec Baldwin is committed
to his alma mater. He graduated
$ 53,350 from Tisch School of the Arts
in 1994 and is currently a dean’s
NYU graduates make at least council member. In 2012 he gave
13% NYU a gift to endow a drama
scholarship, which is awarded
more money than their
annually and celebrates his
respective counterparts
significant contributions to the
nationally
performing arts and to Tisch
School of the Arts. A portion of
his gift will support the Talent
Identification Process, the Tisch
School’s initiative to find the
most academically and artistically
talented students regardless of
their financial aid needs.The best way to
find out is to apply. ADDITIONAL RESOURCES
College Board
>>>>>>>>>>>>>>>>>>>>>>> Scholarship Database
collegeboard.com/pay
At NYU we hope your path and ours Here you’ll find an annually
updated list of scholarships
converge—making it possible for you to and other types of financial
aid programs from more than
consider NYU as more than just your 2,300 national, state, public,
and private sources totaling
nearly $3 billion.
dream school.
FinAid
Whatever your family’s income, finaid.org
Here you’ll find access to
wherever you live, whatever your various databases and
information about financial
academic credentials, you may qualify for aid, including calculators
and general information.
some form of financial aid from NYU.
FOR MORE INFORMATION ABOUT FINANCIAL AID,
PLEASE CONTACT US:
Office of Undergraduate Admissions
New York University
665 Broadway, 11th Floor
New York, NY 10012-2339
212-998-4500
admissions.nyu.edu
Office of Financial Aid
New York University
25 West Fourth Street, 1st Floor
New York, NY 10012-1119
212-998-4444
nyu.edu/financial.aid
New York University is an affirmative
action/equal opportunity institution. CNEW YORK UNIVERSITY Office of Undergraduate Admissions 665 Broadway, 11th Floor New York, NY 10012-2339
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