January Term Financial Aid for Graduate Students
Scholarships: Graduate student scholarship eligibility for NYU January Term (J-term) is determined by your school and usually does not require an application. A majority of the graduate schools do not offer J-term scholarships.
Federal Aid: If you would like to be reviewed for federal financial aid for the J-Term, you will need to reach out to the Office of Financial Aid to request that our office offer you any remaining J-Term federal aid that may be available to you. You will need to have a valid FAFSA on file with NYU, be enrolled at least half time between the combined J-term and Spring term credits, and be otherwise eligible.
Private Loans: If you choose to pursue a private educational loan, you will need to apply with the lender of your choice. On your loan application, your loan period should match the beginning and end dates of the January term as noted on the NYU academic calendar. The lender would send the loan to NYU for certification. Certification is when NYU will confirm your enrollment and cost of attendance with your lender.
Federal Aid: If you request to be reviewed for federal financial aid eligibility for J-term, you should be packaged within approximately one week of your request.
Private Loans: Once NYU has certified your private loan (confirmed your enrollment and cost of attendance with your lender), you would see it on your financial aid package within a few business days. Federal regulations require private loans to have a period of time before the loan will be able to be disbursed to your account, known as a “cool down” period, which gives you the opportunity to cancel your loan before it has incurred any fees. The cool down period will vary from lender to lender.
Federal Aid: If you are eligible for federal financial aid and request to be reviewed for J-Term, you may be offered additional Graduate PLUS Loan up to your cost of attendance. Most graduate students who are enrolled in the spring term will have already used their maximum Unsubsidized Loan eligibility for the year.
Private Loans: A private loan for January term, in combination with any other financial aid utilized for that term, cannot exceed your January cost of attendance.
When financial aid for J-term has been added to your Albert Student Center, you will receive an email letting you know that there has been a revision to your financial aid.
You will need to log in to NYU Albert to accept or decline any loans you may be eligible for. We encourage you to only borrow what you need for the January term and no more. Scholarships and grants are always accepted on your behalf at the time they are added to your financial aid package.
Students needing additional financial aid for January Term will be able to seek out private alternative loans. If you are considering a private loan, you are encouraged to relay to your potential lender the total number of credits you will be taking for the January term and Spring term combined, as some lenders have minimum enrollment criteria:
- Part-time = 1-4.4 credits combined between January term and Spring term
- Half-time = 4.5-8.9 credits combined between January term and Spring term
- Full-time = 9 credits or more combined between January term and Spring term
Private loan eligibility cannot exceed the cost of attendance for January term minus any other aid you may receive for the term. NYU cannot recommend or endorse any particular private lender. You are encouraged to research your options carefully and only borrow what you need and no more.
Typically, January term aid will disburse the first day that the University has re-opened from the Winter Recess.
If your enrollment is reduced after you have had J-term aid added to your financial aid package, your financial aid will be reviewed and can be adjusted or cancelled accordingly. Any updates to financial aid that was already credited to your bursar bill may result in a balance owed.