Major Categories of Revenue

NYU's primary source of revenue is from tuition and fees net of financial aid for undergraduate and graduate students, accounting for 58% of the total budget, with student housing and dining contributing another 9%. The increase in undergraduate tuition in the fiscal year 2024 budget is 3.9%, below the average of a market peer group of private non-profit colleges and universities. Since the start of the University's affordability initiative in the fiscal year 2016, the compound annual growth rate (CAGR) of NYU undergraduate tuition is 2.7%, also below its peer average. NYU’s  average student housing rate increase in the fiscal year 2024 is 3.2%, and the meal plan rate increase is 3.9%.

Sponsored research and sponsored educational programs account for 11% and 7% of total operating revenue, respectively. Expendable philanthropic contributions contribute 3% of total revenue for operations, excluding gifts to endowment and capital, i.e., not expendable for operations. 

Endowment income distributions and earnings on short-term investments of operating cash balances provide 6% of the revenue budget. Although the NYU endowment is large in absolute dollars, with a market value on June 30, 2023 of approximately $5.9 billion (including NYU Langone Health), it is small relative to the number of students enrolled at NYU. In a national study by NACUBO of 689 college and university endowments, based on June 30, 2022 data, NYU's total endowment (including the School of Medicine) was the 29th largest in total market value among U.S. universities but 196th in endowment per student ($89,903 per FTE student). A note on endowment performance can be found on the Investment Office web page.

Income from real estate represents 2% of the revenue budget, clinical income from dental patient care provides 1% of operating revenue, and all other sources of revenue total 2%. All other auxiliary operations account for 1% of the total operating revenue budget.