Financial aid for Graduate students
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How to apply
You can apply for financial aid online. To do so, log in to My NYU and click on the Financial Aid tab. You will be asked to create a username and password (or use your existing one) and then complete the online application form.
Your application must be submitted by March 1st if you wish to receive aid for summer or fall 2018 terms; however, we encourage students who plan on attending NYU during those terms to apply as soon as possible because some forms may take longer than others.
If you are applying for more than one type of funding support, please note that each form has its due date:
- Graduate Student Loan-in-Full Application deadline is February 15th;
- Graduate Student Loan Deferment Application deadline is March 1st;
- The supplemental Loans for Students (SLS) Application deadline is April 30th
Estimated Tuition & Fees
NYU is a private university, and tuition for graduate students is $75,000 per year. However, it’s worth it: NYU has some of the best programs in their fields, and you’ll have access to world-class researchers and facilities.
The financial aid packages they offer are extensive–you can find out more about them here.
Types of aid
- Grants. These scholarships do not need to be repaid, and they come in all shapes and sizes: grants for students with financial needs, merit-based scholarships, and more.
- Loans. If you decide to take out loans, make sure you understand how they work–and what your options are if things go wrong. For example, suppose you commit delinquency or default on your federal student loans (more than 270 days past due). In that case, there’s no statute of limitations on the government’s ability to garnish wages or seize tax refunds until the loan is paid off in full (which could take decades).
- Work-study jobs allow students to earn money while going to school full-time by working for an eligible employer on campus or off campus at least 8 hours per week during regular business hours (including evenings) during semesters when classes are in session, summer sessions, breaks between semesters; spring break periods between fall/spring semesters; winter break periods between fall/spring semesters.
Graduate assistantships
A graduate assistantship is a job that provides you with a stipend and other benefits in exchange for your work as an instructor or research assistant. To apply for one, go to NYU’s Office of Financial Aid website and complete the “Graduate Assistantship Application.” You must submit your academic record (transcript) along with your application.
The amount of money you can expect from a graduate assistantship depends on the program you’re applying to within NYU. Still, most are between $ 16,000 and $20,000 per year–which is pretty good considering how much some people pay in rent here! In addition to getting paid during school terms, many programs offer summer funding opportunities at various campuses around New York City (and sometimes even abroad).
If this sounds worth exploring further, visit nyu dot edu/financial aid/grad student funding.
Federal loans
If you’re a graduate student, you may qualify for federal loans. These are need-based, and you may be eligible for subsidized or unsubsidized loans. Subsidized loans are based on financial needs and are paid for by the government. Unsubsidized loans do not factor in your income or assets when determining how much money they will lend you–you’re responsible for repaying these funds yourself.
Private loans
Banks and other financial institutions offer private loans. They have higher interest rates than federal loans but don’t require good credit. If you need money now, personal loans can help get you there.
However, there are some drawbacks to consider before taking out a private loan: the interest on these types of loans is not subsidized while you’re in school (as it is with federal Stafford Loans), so if you need to make payments while attending classes at NYU or any other institution that accepts them (and most do), then those payments could add up quickly over time–not ideal for someone who may already be struggling financially!
You should also know that unlike federal student aid programs such as Pell Grants or Federal Work-Study Jobs, which are awarded based on financial need alone without regard for other factors such as academic performance or citizenship status, many lenders require applicants seeking funding through their programs meet specific criteria such as having good credit scores, being enrolled full-time at an accredited university (like NYU!) etcetera.
