Summer Financial Aid for Undergraduates
Do I need to apply?
Beginning in Summer 2020, NYU undergraduates do not need to complete an application to be reviewed for NYU summer scholarship. Our hope is that by removing this barrier, more qualified students will be able to be reviewed for scholarship funding. Summer scholarships will be awarded based on eligibility, enrollment, and financial need. Priority will be given to students who have enrolled for their summer courses by March 25. At this time, we are unable to offer summer scholarships to international students.
All students are reviewed for federal financial aid as long as they have a valid FAFSA on file, are enrolled in a minimum of 6 credits (combined total for all summer sessions), and are otherwise eligible. For students whose first term of enrollment will be the summer term, you will need to have both the current academic year's FAFSA and the upcoming academic year's FAFSA on file for summer and fall awarding. Please be sure to do both applications if you are a summer admit. If you wish to apply for a private loan, you will need to apply with your chosen lender.
When will I be awarded?
We anticipate that all students who are enrolled for summer courses will be awarded on April 1. Your summer financial aid package will be based on your eligibility and can include NYU scholarship and/or federal financial aid. Students who wish to pursue a private loan will need to apply with their chosen lender.
How much financial aid will I get?
NYU scholarship amounts will vary as they are dependent on factors such as eligibility, enrollment, and financial need. Your financial aid cannot exceed your estimated cost of attendance.
For most undergraduate students, eligibility for federal financial aid includes one semester of Subsidized and/or Unsubsidized Loan (as long as you did not borrow your yearly maximum in the spring term) and for those students who are independent, up to the cost of attendance in Parent PLUS Loan. Some undergraduate students may also be eligible for Pell Grant. For private loans, students may borrow up to their cost of attendance. Please note that both Parent PLUS Loans and Private Loans are subject to credit approval.
How will I know when I have been awarded?
When a summer award has been added to your Albert Student Center, you will receive two emails, one letting you know that there has been a revision to your financial aid and another letting you know that a summer award was added to your academic year award. Instructions on how to accept your award will be in this email.
How can I apply for a private loan?
A private loan may be an option for you if you are not eligible for federal aid. NYU does not endorse, recommend or prefer any particular private loan over another. Note that loan terms and eligibility requirements can vary. Review our information about lenders that NYU students have used in the past. Students may apply for a private loan via the lender's website, and credit approval is usually necessary. Allow up to 3 weeks for processing.
If you apply for a private loan be sure to list NYU as your school and your loan period/period of enrollment as the date of the first day of summer classes through the last day of summer classes, as indicated on the NYU Academic Calendar.
Can I get Pell Grant in the summer?
If you have completed a FAFSA, are eligible for Pell Grant funds, and have remaining lifetime eligibility, you will be reviewed for Pell Grant after enrolling in summer courses.
If you were enrolled full-time in both the fall and spring terms, you must enroll in a minimum of 6 credits in the summer to be eligible.
If you did not attend or were enrolled part-time in the fall or the spring terms, there is no minimum credit requirement. Your eligibility will be assessed based on your FAFSA Expected Family Contribution (EFC) and the Federal Pell Payment Schedule.
Can I get TAP in the summer?
If you are a New York State resident you may be eligible for a summer Tuition Assistance Program (TAP) Grant if you are enrolled as a full-time student (12 credits or more). Your potential TAP grant can be determined by using the New York State TAP Estimator. If you use the TAP calculator, divide the estimated one semester amount by 2 to obtain the amount for summer. Summer TAP payments are not sent by N.Y. State until after the summer is completed.
Note: Undergraduate students are limited to receive a total of eight TAP payments. If you request a summer TAP payment it will affect your grant payments in future semesters.
What if I am expecting outside scholarships for the summer term?
If you will receive any other outside financial assistance for your summer attendance at NYU including outside scholarship, the total amount of aid you are receiving may not exceed your cost of attendance. Please notify the Office of Financial Aid of any outside summer scholarship you are expecting.
When will my aid disburse?
Federal regulation determines the timing of federal financial aid disbursements. Your federal aid will disburse ten days before the start of your first summer session class. For those who pursue private loans, the summer disbursement will also occur no earlier than ten days before the start of your first summer session class.
If your enrollment is reduced after your financial aid has disbursed, it will be reviewed and adjusted or cancelled accordingly which may result in a balance on your bursar bill.
When will I receive my refund for my non-NYU billed expenses?
Financial aid is disbursed to your bursar bill to first cover NYU billed expenses. If your financial aid exceeds your bill, you may expect a refund for educational costs not seen on your NYU bill shortly after your aid has posted to your bursar account, generally within a few business days.
What if my enrollment plans change?
If your enrollment is reduced after this initial summer awarding, your financial aid will be reviewed and adjusted or cancelled accordingly which may result in a balance on your bursar bill. Changes in enrollment affect the cost of attendance and the amount of aid that you are eligible for. Your financial aid cannot exceed your estimated cost of attendance.