Frequently Asked Questions

NYU students who apply for financial aid in accordance with our deadlines are evaluated for financial aid and notified about the specific types and amounts of aid offered.

Students will be awarded their financial aid online via NYU Albert. An email with the appropriate link will be sent to you once your financial aid award package is available.  Information about how to secure your aid will be provided in your financial aid award package and on your "To Do" list on Self-Service.  All communication regarding your financial aid will be available to you via "self service" on NYU Albert.

Award schedule:

• New Freshmen: Early April
• Returning Undergraduates: Beginning mid June
• New Graduates: varies by school; generally April/May
• Returning Graduates: mid July

All students are encouraged to apply every year for financial assistance.  NYU requires the CSS/Financial Aid PROFILE application, the Free Application for Federal Student Aid (FAFSA), and, for residents of New York State, the New York State Tuition Assistance Program (TAP) application.  For applicants to NYU Abu Dhabi, please visit NYU Abu Dhabi Financial Support.

• Go to Applications and Forms

• Go to Tuition, Fees, and Expenses

View your SAR record and make changes on the FAFSA website.

• Go to Scholarships and Grants

• Go to Types of Financial Aid: International Students

• Go to Student Employment

Yes, you must apply every year to determine and renew your financial aid (including NYU scholarships).

Each year the U.S. Department of Education will send to you a renewal reminder containing important information about your Federal Student Aid PIN and the FAFSA application process. (If you included a valid e-mail address on your FAFSA last year, you will receive the reminder by e-mail. Otherwise it will be mailed to your permanent address.) You will need your Federal Student Aid PIN to access your pre-filled FAFSA on the Web application that contains much of your application data from last year.

Visit the PIN web site at www.pin.ed.gov to verify your existing PIN, to request a duplicate if you have forgotten your PIN, or to request a new PIN if you (and your parents, if applicable) don't have one. (You use the same PIN each year, so you probably have one already).

It is possible to submit the FAFSA online without a PIN, but you must provide answers to all questions on a new FAFSA and you must print, sign, and mail the signature page after you submit the application, which will slow the process.

After January 1 but not later than March 1 (graduate students should consult their school for exact deadlines) access your FAFSA on the FAFSA website and revise the information to reflect your income for the preceding year (and other information only if it has changed), then submit the application. Be sure that you specify NYU (federal school code 002785) as the recipient of your information.

You should receive your Student Aid Report (SAR) within a few weeks after submitting the FAFSA. Call (800) 4-FED-AID (433-3243) if you don't receive it. You may also view your SAR on the FAFSA website and make changes if necessary.

If you apply correctly and on time you can expect your NYU financial aid award notification by late May (for returning undergraduates), describing your aid package for the next academic year.

Remember that the FAFSA and all necessary signatures must be received and validated by the processor and released to NYU no later than March 1 (not postmarked March 1), or the department deadline specified by your NYU school, if different. If you delay, a loss of aid could result. If you have not filed your tax return by March 1, you should use best estimates on the FAFSA, but once you file you must return to www.fafsa.gov and make corrections. Remember, you must apply each year to renew your financial aid. March 1 is the priority deadline for most schools at NYU. Applying late could make you ineligible for certain types of aid, and funds become more limited. If you submitted a FAFSA last year and received an NYU scholarship, you should submit the FAFSA again each year by the NYU deadline to ensure normal processing.

If you are a New York resident and received a state TAP grant, you must renew your grant award for next year to ensure credit for TAP on your Bursar bill. Click here for more information about the TAP application process.

Review your FAFSA

Most student aid is based upon financial need, which is determined by the results of your FAFSA. The first step you should take is to ensure that the information you submitted on your FAFSA is correct. If your initial submission contained errors, you should correct your data on the FAFSA website at www.fafsa.gov. If your original data was correct when first submitted but your financial circumstances have changed since you filed the FAFSA, then, depending upon your situation, you may be eligible for review through a process called Professional Judgment. This process allows a financial aid administrator, under specific circumstances, to review your FAFSA eligibility based on new documentation, which will possibly change your eligibility for federal student aid. To determine if you are eligible, you should complete and submit the Professional Judgment Worksheet, available on our Applications and Forms menu. We will review your circumstances and notify you about opportunities for additional grants, federal loans, and alternative loans.

Change in Eligibility Increase

If you have enrolled for additional credit points and your tuition and/or fees have increased, if your housing status has changed (i.e. "off campus" vs. "on campus"), or if your grade level has changed, then your eligibility for federal loans (and possibly other types of student aid) may be reevaluated. Contact the Office of Financial Aid or send an e-mail message to explain your status change at NYU and to request that your aid be reviewed and/or your federal loan amount be increased if you are deemed eligible. If so, we will certify the additional amount(s) and send you a revised financial aid award notification.  (Please note that annual and aggregate maximum borrowing limits apply to the Federal Stafford Loan.)

This change may also affect your eligibility for private student loans. Once you have maximized your federal loan eligibility then you may apply for additional private loan amounts to meet the cost of attendance. (See our information about Private Loans.) Once we have received approval from your lender, the Office of Financial Aid will certify the private loan and then notify you accordingly.

Individual Budget Appeal

If you find that your miscellaneous education-related expenses for the academic year (e.g. books and supplies, computer equipment, etc.) will exceed those projected in NYU's estimated budget for your total cost of attendance (see Tuition, Fees, and Expenses), please submit the Budget Appeal form, also available on our Applications and Forms menu.

General Scholarship Increase Request

Returning undergraduate students who have submitted their FAFSA and wish to increase or add scholarship funding to their financial aid package may do so via the annual appeal process. During appeal season, our online Appeal Form for Returning Undergraduates is available on the Applications and Forms menu. Students must meet the specified appeal deadline and include an explanation of why they are seeking additional funding. Appeal results are typically based on financial need and academic performance. The amount of appeal funds available varies each year, and individual NYU schools work closely with the Office of Financial Aid throughout the process to make the appeal determination.

NYU graduate students should consult with the admissions/financial aid representative in their school or program department (see "School Financial Aid Contacts" on our alphabetical list of References and Resources.

Conclusion

Regardless of your status, we strongly encourage all students to explore the many private scholarships available.

You also may find NYU Payment Plans to be helpful. Although they are not a form of financial aid, NYU Payment Plans provide a good way to budget and plan your payments for each semester.

Usually yes.  To be considered for ANY type of financial aid in the summer you must submit the NYU Summer Financial Aid Application, which is available on our Applications and Forms menu beginning in February.

If you are an NYU undergraduate student and wish to be considered for a summer scholarship (extremely limited), you must submit the application no later than May 1. To be considered for federal and private aid for the summer, you must submit the application no later than July 15.

A Summer Financial Aid Application is also available for non-NYU "visiting" students (the deadline is June 1).

Grant funds and alternative (non-federal) loans are available for the January Term. To apply, you must submit the January Term Financial Aid Application, which is available on our Applications and Forms menu beginning in October.

No.

Most financial aid, such as Federal Stafford Loans, Federal PLUS Loans, TAP, Pell Grant, Perkins Loan, and NYU scholarship, is based on full academic year attendance, so if you are enrolled for one semester only, you will be awarded the appropriate portion for which you are eligible.

You might be eligible for more Federal Subsidized Stafford or Federal Unsubsidized Stafford Loans.  Once your grades have been posted on the Student Information System after the fall semester, if your grade level has increased from a Freshman level to a Sophomore level (32 points earned), or has changed from the Sophomore level to a Junior level (64 points earned) you may be eligible for more Federal Stafford Loan or Federal Unsubsidized Stafford Loan.  If you would like your eligibility for a loan increase to be reviewed, send an e-mail message to the Office of Financial Aid from your NYU email account with your specific request.  If you are eligible, the loan amount will be increased and you will receive a notice to log on the Student Center and accept that amount. A new loan application is not required.  Funds will be disbursed to your Bursar account in accordance with federal disbursement schedules. Also, please note that the increase could affect your loan eligibility for the upcoming summer if you plan to attend and receive federal loans in the summer.

In most cases the amount of financial aid you receive will not be affected.  If your total credit points, your housing status, and your financial aid application information is the same as it was for the fall semester, the amount of financial aid you receive should remain the same.

PLEASE NOTE:

• Departmental scholarships are not transferable to another school.
• School of Continuing and Professional Studies (SCPS) students enrolled full-time in the General Studies Program, McGhee Division, the Hotel and Tourism Management Program, or the Recreation and Leisure Studies Program may transfer to another undergraduate school at NYU without affecting their financial aid.

If you are uncertain of your status, send an e-mail message to the Office of Financial Aid.

Billing transactions and associated student account issues are administered by the NYU Office of the Bursar.

See also NYU Albert to view your billing information record, including financial aid credits.

If some financial aid items are not listed on your bill, please make sure you do not have any ‘holds’ listed on your account and you are registered for the appropriate number of credits Financial Aid has anticipated for you. Also, please be sure you have accepted the item you wanted on Albert, completed all the necessary paperwork and allow 3-5 business days for this to reflect on your Bursar account.

Keep in mind that you will not receive an updated bill until your scheduled billing date. However, current changes and adjustments are visible on NYU Albert.

It is important to note that in some cases the student aid information initially shown on Albert may not exactly match the official Financial Aid Awards you subsequently receive.

• Go to Direct Loan Instructions.

• Go to Private (Non-Federal) Alternative Loans.

If you have completed the acceptance process for a Federal Stafford Loan and/or a Federal PLUS Loan but no longer want to borrow the full amount, contact the Office of Financial Aid as soon as possible to authorize a reduction.

Once you have accepted your Direct Loan amounts on NYU Albert you cannot make further changes online.  Please notify us to make adjustments to your awards:

• Email to the Office of Financial Aid.
• College of Dentistry students: email to dental.financial.aid@nyu.edu
• School of Medicine students: email to phyllis.schulz@nyumc.org
• Graduate Stern School of Business: email to fin-aid@stern.nyu.edu
• School of Law: email to law.finaid@nyu.edu

Upon receipt of your request (typically within 3 weeks) a Financial Aid Counselor will update your loan.

If you were offered ANY aid you do not wish to use, please ‘decline’ the aid on NYU Albert. This will remove the item from your ‘To Do’ List.

If you have received loan promissory note, and you do not wish to use the loan, you DO NOT have to sign the promissory note. Please disregard the loans promissory notes.

• If the parent borrower is not initially approved for a Federal PLUS Loan, they will receive an endorser packet directly from the U.S. Department of Education.  This packet explains that a PLUS Loan may still be acquired if someone else with an acceptable credit rating -- such as the parent applicant's spouse, a relative, or friend -- agrees to endorse or cosign the loan.  Contact the Office of Financial Aid for further instructions.
• Please note that if the parent borrower receives the Federal PLUS Loan based on a credit-worthy endorser, the PLUS Master Promissory Note (MPN) that the parent completed will expire with that endorsed loan.  A new PLUS MPN will be required for any subsequent PLUS Loan for which the parent applies.
• The U.S. Department of Education does not inform the NYU Office of Financial Aid about the specific reason for the denial of a Federal PLUS Loan.  To appeal for reconsideration, contact the Direct Loan Origination Center toll-free at 1-800-557-7394.
• In the event a denial is final, the student may contact the Office of Financial Aid to request consideration for an additional Federal Unsubsidized Stafford Loan.  Freshman and Sophomores may be eligible for a maximum of $4,000 in additional funds, and Juniors and Seniors may be eligible for a maximum of $5,000 in additional funds.  Please note: if at a later time during the academic year a parent becomes eligible or is approved with a co-signor for a Parent PLUS loan, the additional Unsubsidized Stafford Loan will be canceled.

• If you are not initially approved for a Federal Graduate PLUS Loan, you will receive an endorser packet directly from the U.S. Department of Education. This packet explains that a PLUS Loan may still be acquired if someone else with an acceptable credit rating -- such as your spouse, a relative, or friend -- agrees to endorse or cosign the loan. Contact the Office of Financial Aid for further instructions.
• Please note that if you receive the Federal Direct PLUS Loan based on a credit-worthy endorser, the PLUS Master Promissory Note (MPN) that you have completed will expire with that endorsed loan.  A new PLUS MPN will be required for any subsequent PLUS Loan for which you apply.
• The U.S. Department of Education does not inform the NYU Office of Financial Aid about the specific reason for the denial of a Federal PLUS Loan. If you feel that there are extenuating circumstances and you wish to appeal the credit denial, you must contact the Direct Loan Origination Center toll-free at 1-800-557-7394.

Credit approval is valid for 90 days.  Your credit is evaluated by Direct Loans every time you request a new loan unless you have had a credit decision within the preceding 90 days.

• Go to References and Resources for information about Loan Consolidation, Loan Deferment, Loan Forgiveness, and Loan Repayment.

It's a federal definition.

There are basic requirements a student must meet to be considered an independent student (see The Guide to Federal Student Aid for criteria).  If you do not meet these requirements but you still believe you are truly independent of your parents, you may appeal for a "dependency override" with our office.  The example below describes the conditions of an acceptable override, but if your situation is different please bring it to our attention for review.

INVOLUNTARY DISSOLUTION OF FAMILY

To demonstrate the "involuntary dissolution" of your family you must present:

• A letter written by you which states that you do not and cannot have contact with your parents and also explains what precipitated the dissolution of the family.
• A letter from a third party (someone not related to you) stating that you do not and cannot have contact with your parents. The letter must be written by someone:
• who is professional (preferably your social worker or case worker, a member of the clergy, or a lawyer who has been represented you in legal proceedings), and;
• who has personal, first-hand knowledge of your familial situation.
• A copy of your completed FAFSA, which must be submitted as if you were an independent student.

If you can provide the appropriate documentation, a dependency override will be considered for you and your financial aid award may be changed based upon an independent status.  (Note that just because a student is considered "independent" does not necessarily mean a student's aid will increase.)

• Go to Satisfactory Academic Progress.

If no student aid of any kind has been deducted from your bill, chances are you did not submit the required financial aid applications, or, if you did, you may have applied later than NYU's priority deadline (see sidebar above right), which may have affected your aid eligibility.  If you have already applied and received your Student Aid Report (SAR) from the federal processors, in most cases you should have received a notice from us to view your financial aid award on NYU Albert.  Verify on NYU Albert that your FAFSA data has been "received" by us (it will be listed in your "To Do" list as received if it is truly received by NYU).

If your FAFSA information was received by NYU more than 3 weeks ago and you have not received a financial aid award, you should first refer to NYU Albert to see if there are any "holds" on your account.  A hold on your account may delay your financial aid awards.  If there is a hold, please rectify that situation.  The delay could be caused by circumstances concerning your aid eligibility.  For example, you may not be meeting the satisfactory academic progress standards required to maintain student aid, or further documents may be required from you before we are able to process your award.  If there are no holds, and if your award still seems delayed, then contact the Office of Financial Aid.  Our counselors can discuss details with you and estimate when you can expect an award.

There is no interim aid.  Students often ask if they can take out private, non-federal loans while they wait for their financial aid application to be processed and their federal loans to be disbursed.  Students are discouraged from pursuing this because it also takes a few weeks to receive alternative loans, and if you take out alternative loans in advance of your federal loans, you may inadvertently take out too much private loan, which you would then have to return.  This can be costly.  Or, if you didn't want to return the private loan funds your federal aid eligibility could be adversely affected.  The best strategy is to apply for financial aid as soon as possible, and, in the interim, work out a payment plan with the Bursar.  If you're eligible for financial aid and you've already made a payment to the Bursar, you will be refunded the amount of overpayment.

Loan refunds are administered through the NYU Office of the Bursar, and there are important elements to consider if you are anticipating a credit balance. For example, because your loans can not be released to NYU before your designated disbursement date, and because once they are disbursed certain basic enrollment criteria must first be verified (e.g. you normally must be enrolled for at least 6 points) before the loan amount is applied to your account balance, a refund resulting from your student loan will usually not be confirmed and processed until a few days after your disbursement date.

Contact the Office of Financial Aid if any of the conditions of your initial award has changed.  Depending on the changes, your aid may or may not be affected, but it is always better to inform the Office of Financial Aid of your plans so adjustments can be made, if necessary, early in the semester.  If you fail to inform the Office of Financial Aid, then any discrepancies that exist between your anticipated and actual registered credit points will appear during enrollment audit and adjustments will be made at that time.  It is the obligation of the Office of Financial Aid to adjust aid according to University policy and federal regulations.

Students may be required to verify their U.S. citizenship status to confirm eligibility for some federal grant programs, and non-citizens are subject to different regulations which may require supporting documentation, depending upon the type of financial aid sought.

• Go to Citizenship Documentation

You are strongly encouraged to apply for financial aid even if you missed the NYU priority deadline (see Financial Aid Deadlines in the column above right).  You may not qualify for the same amounts or types of funds if you did not apply on time.  However, there are still alternatives available.  For example, you will likely be eligible for some form of federal loan, and possibly federal grants and Federal Work-Study.

• Go to Verification: Frequently Asked Questions

To best serve as many students as possible, we do not ordinarily schedule individual appointments (although an appointment can be arranged in an emergency).  To meet with a financial aid counselor, please visit us any time during office hours.

FALL AND SPRING SEMESTER
Monday: 9:00 a.m. to 5:00 p.m.
Tuesday: 9:00 a.m. to 5:00 p.m.
Wednesday: 9:00 a.m. to 6:00 p.m.
Thursday: 9:00 a.m. to 6:00 p.m.
Friday: 9:00 a.m. to 5:00 p.m.

SPRING RECESS AND SUMMER HOURS
Monday to Friday 9:00 a.m. to 5:00 p.m.

See our contact information for additional information and announcements.

If you are a New York State resident, submitted a FAFSA, and applied for TAP using either TAP on the Web or a printed Express TAP Application (ETA), you should have received a TAP award certificate from the New York State Higher Education Services Corporation (HESC).  Contact HESC at 1-888-NYS-HESC (1-888-697-4372) if more than a few weeks have passed without notification after submitting the FAFSA.

HESC will also advise the NYU Office of the Bursar about your eligibility.  If you have received your TAP award certificate but credit has not yet been applied to your bill, write a note on the bill and pay the appropriate remaining balance.

To be eligible for a Pell Grant you must be an undergraduate, have not earned a prior degree, and have an Estimated Family Contribution (as calculated by the government) of $5,273 or less.  If you were eligible for Pell last year, you may not be eligible this year — it can vary depending upon your family and your resources.  If you think you are Pell eligible and you subsequently received a request from NYU for documents to verify your FAFSA data, your Pell Grant may not be applied to your bill until the verification review is complete.  Use NYU Albert to see if you have any outstanding document requests (please check the To Do list).  Also, if you changed your Student Aid Report (SAR) to update any information the changes could have affected your Pell eligibility.

If you filed a FAFSA last year and received a scholarship, but didn't submit the FAFSA again this year, your scholarship amount could be affected.  Most scholarships at NYU are based on a combination of need and merit.  Review the letter that you received from our office when you were initially awarded.  If you have not already submitted the FAFSA and you need to, do so right away.  Depending on the availability of funding, late filers may not get their full scholarship.

If the federal processors received your FAFSA later than the March 1 deadline (see sidebar above right), you may not have been offered a Perkins Loan.  There is a limited amount of federal Perkins funding available to New York University and we must give priority to those who apply on time.

There are a few other reasons why your loan may not be on your bill. On Albert you need to accept your Perkins loan and wait 1 day. After 1 day has passed you must then e-sign your MPN, and print, sign, and mail your Perkins Rights and Responsibilities/Entrance Interview and you Truth-in-Lending in order to receive credit for this loan.  Credit will be posted to your Bursar account 24 to 48 hours after you have completed all these steps and after we have received the printed documents.

Be sure that you have completed the acceptance process for the Federal Stafford Loan and/or the Federal PLUS Loan to ensure the proper disbursement of funds.  If a Stafford and/or PLUS Loan amount was suggested on your financial aid award letter, follow the instructions to secure your loan(s) and then deduct the pending loan amount from your bill (minus the origination fee) and pay the remainder.

Your private loan must be approved by the lender and certified by NYU before you will be given credit for that loan.  If it has been approved since the date of your bill, simply deduct the semester portion of the approved loan from your bill.

Federal Work-Study is not credited on your bill because it represents a potential amount yet to be earned in bi-weekly paychecks during the year.  If suggested Work-Study is included in your financial aid package, it means you are eligible to participate in the Federal Work-Study Program.  For help in finding a job to earn this money, contact The Wasserman Center for Career Development at 212-998-4730.