There is no separate application necessary for graduate students. As long as you have a valid FAFSA on file, are enrolled in a minimum of 4.5 credits (or less than 4.5 credits but with an approved equivalency), and are otherwise eligible, you will be awarded federal financial aid for the summer term. If you wish to apply for a private loan, you will need to apply with your chosen lender.
Your financial aid cannot exceed your estimated cost of attendance. For most graduate students, eligibility for federal financial aid includes up to $10,250 in Unsubsidized Loan (if you only took up to $10,250 in the spring term) and up to the cost of attendance in Graduate Plus Loan. For private loans, students may borrow up to their cost of attendance. Please note that both Graduate Plus Loans and Private Loans are subject to credit approval.
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 current academic year award. If the summer term is your first semester, you will receive an email letting you know when your award is available to view. Instructions on how to accept your award will be in this email.
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.
Financial aid is disbursed to your bursar bill to first cover NYU billed expenses. If your financial aid exceeds your bill and you are expecting a refund for educational costs not seen on your NYU bill, you can expect to receive your refund after July 1.
If your enrollment is reduced after this initial summer awarding, your financial aid will be reviewed and adjusted or can-celled 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.