Key Info for New Undergraduates
As a new student at New York University, paying for your education is a top priority. We are here to make sure you have all the information you need to stay up to date on your financial aid and to answer any questions you might have.
Learn more about:
- How Your Package Is Put Together
- Scholarships, Grants, and Loans
- Tuition and Other Costs
- Payment Plans
- Student Aid Report
- Important Things to Remember
- Helpful Contacts
How Your Package Is Put Together
Your financial aid package will likely contain funding from several sources like grants, loans, and work study.
We base our federal financial need analysis on a federally mandated formula called the “federal need analysis methodology,” or Expected Family Contribution (EFC). This is determined when you file your FAFSA. You can find out more about this through the U.S. Department of Education’s EFC Formula Guide.
NYU scholarship funding is determined by the results of the CSS Profile for undergraduates.
The EFC and results of the CSS Profile help to determine how much you and your family can contribute to your education, taking into account factors like taxable and nontaxable income, assets, benefits, and the number of family members in college.
Your financial need results from the cost of attending NYU subtracted from your EFC.
If your family’s financial situation changes significantly after you have submitted your FAFSA, email email@example.com to request a review.
Scholarships, Grants, and Loans
Many New York University undergraduates receive some sort of financial aid, whether in the form of scholarships, grants, or loans. Submitting a FAFSA each academic year is important to make sure you continue to receive your aid package.
If you have received scholarships or grants, these are forms of aid that do not have to be repaid upon completion of your degree.
Your financial aid package may also contain federal loans. This type of aid will have to be repaid upon graduating. Many students take out federal loans, while some students may elect to borrow money from a private lender.
Tuition and Other Costs
How much you will pay in tuition, fees, and expenses depends on which school you are enrolled in at New York University and if you live on or off campus, among other factors.
The Office of the Bursar can help you find a payment plan that works with your budget and schedule. They offer deferred plans, fixed plans, and other options to help you pay for your education.
Student Aid Report
Your Student Aid Report (SAR) provides you with basic information about your eligibility for federal student aid. You can choose to receive either a paper or electronic version.
After you receive your SAR from the U.S. Department of Education, review it to make sure all sections are complete and accurate.
You should confirm that you used federal school code number 002785 for New York University.
If you need to make changes, including final income tax return information, follow the instructions on the FAFSA website. Keep the final SAR for your records.
Important Things to Remember
Here’s a checklist of things you should keep in mind to make sure you’re on top of your financial aid and its requirements.
- Know the conditions of the awards you accept. You can find this information in the promissory note you will receive for federal loans.
- Be sure to meet deadlines for any forms or materials you need to submit, like the FAFSA.
- Maintain Satisfactory Academic Progress standards.
- Let the Office of Financial Aid know immediately if you receive student aid like private scholarships or grants from an independent, outside source. It could affect your NYU financial aid package.
- Respond immediately to requests from the Office of Financial Aid to avoid cancellation of your package.
- Tell the Office of Financial Aid if you reduce your credits or intend to become a part-time student (less than 12 credits). This could affect your financial aid package. You should also notify our office if you change your housing status.
- Be sure to reapply for financial aid each year in order to continue to receive your package.
- If you withdraw from a term, you should refer to the official academic withdrawal policy described in your school bulletin. If you are receiving federal aid and withdraw completely, you may be billed for remaining balances that result from the mandatory return of funds to the U.S. government.
Here are some helpful contacts to answer questions you might have about your financial aid, payments, or bills.
Online resources include:
- NYU Albert
- Student Aid on the Web (U.S. Department of Education)
If you want help with applying for financial aid, discussing an aid award, or processing a loan deferment, you can contact the Office of Financial Aid.
To make a payment, inquire about a refund, or pay your bill, contact the Office of the Bursar.
For enrollment reporting for loan deferments and TAP certification, contact the Office of the Registrar.
For residence hall payment and billing, and to find out more about housing options, contact the Office of Residential Life and Housing Services.
For questions about student employment and Federal Work-Study jobs, contact the Wasserman Center for Career Development.