Do I need to apply?
For NYU undergraduates, the Summer Financial Aid Application is usually available starting in February and is due May 1 to be considered for NYU scholarship.
After May 1, students will be reviewed for federal financial aid as long as they have a valid FAFSA on file, are enrolled in a minimum of 6 credits, and are otherwise eligible. For students whose first term of enrollment will be the summer 2017 term, you will need to have both the 2016-2017 FAFSA on file for the summer and the 2017-2018 FAFSA on file for the fall. 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.
IMPORTANT: The May 1 deadline for scholarship review does not apply to students enrolled in the SPS Division of Applied Undergraduate Studies. Students in this program are automatically reviewed for scholarship eligibility upon enrollment.
How much financial aid will I get?
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. 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 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. Click here for 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 May 22, 2017 to August 13, 2017.
PLEASE NOTE: Private alternative loans for summer are set to disburse in 2 separate payments during the summer. A refund cannot be issued until sufficient funding has been received to cover all charges. For most students, this will not occur until after the second scheduled disbursement arrives in July 1. Please plan accordingly. In addition, you must be enrolled at least half-time at the time of disbursement or your funds will be returned to the lender.
Can I get TAP in the summer?
You must apply for your TAP award at Tap on the Web.
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.
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.
When will my aid disburse?
Federal regulation determines the timing of federal financial aid disbursements. Your federal aid will be made in two disbursements: the first summer disbursement will occur ten days before the start of your first summer session class, and the second disbursement will be approximately July 1.
For those who pursue private loans, the first summer disbursement will occur no earlier than ten days before the start of your first summer session class, and the second disbursement will be approximately July 1.
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 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.
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.