FINANCING YOUR EDUCATION
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INSTITUTIONAL AID: FACTS & FIGURES*
Percentage of students who received New School institutional financial aid
Total institutional aid awarded
UNDERGRADUATE
Average percentage of tuition covered by institutional aid
90% 79%
TOTAL
$151 M
UNDERGRADUATE
$42.5M $108.5M
UNDERGRADUATE
GRADUATE GRADUATE GRADUATE
38% 51%
*Merit- and need-based institutional aid awarded by The New School to students enrolled in degree programs on the university's New York City campus in the 2020–2021 academic year.INVESTING IN HIGHER EDUCATION IS ONE OF THE MOST IMPORTANT DECISIONS YOU’LL EVER MAKE.
Higher education can play a transformative role in students’ lives and set them on paths they never could have imagined.
At The New School, we’re sensitive to the rising cost of a college education and know our New York City location adds to costs you will incur. That’s why we created this guide.
We hope to make the journey to choosing the right university for your studies as simple as possible. Our goal is for you to have all the information and resources available early on, to enable you to make the financial decision that’s right for you.
UNDERSTANDING TUITION AND FEES
Tuition rates vary by college and degree level and type.
You will be charged either a flat tuition rate each semester or a per-credit rate, depending on your program.
You should also factor in any merit- and need-based financial aid you may receive, because it may cause your out-of-pocket costs to drop significantly.
Learn more about current tuition fees:
TYPES OF FINANCIAL AID
There are multiple avenues students can pursue to finance their education—meritbased aid, need-based aid, loans, and other funding sources. Many forms of aid can be combined to meet students’ needs.
MERIT-BASED AID
Learn more about scholarships:
New School Scholarships
All applicants (including international students) are considered for scholarships on the basis of academic merit and/or creative ability. These awards cover either a percentage of tuition or a specified dollar amount.
New School merit-based scholarship recipients are selected by the Admission Committee. These scholarships continue throughout the course of recipients’ studies if they continue to meet the eligibility requirements.
Program-Specific Graduate Fellowships
Master’s and doctoral degree programs in certain disciplines offer students special fellowships and funding opportunities. Prospective students can connect with an admission counselor or program director to learn what is available.
External Scholarships and Awards
We strongly encourage students to apply for scholarships with organizations outside of The New School. The Scholarship Advising Office is here to help students find suitable opportunities: Email scholarshipadvising@newschool.edu.
NEED-BASED AID
The process of applying for need-based aid begins with completing the Free Application for Federal Student Aid (FAFSA). Need-based financial aid is restricted to U.S. citizens and eligible permanent residents. The New School is unable to offer need-based aid to international students.
What Is the FAFSA?
To apply for federal and state grants, work study, and loans, you must complete the FAFSA. Completing and submitting the FAFSA is free and gives you access to federal and state financial aid to help pay for college or graduate school. The FAFSA is the only form you need to file to apply for federal financial aid and for most state grants. You must file it each year you’re enrolled to have access to these resources.
New students entering in the fall semester must complete the form between October 1 and June 30, with a priority deadline of February 1. New students entering in the spring semester must complete the form by the priority deadline of November 1. Students should submit the FAFSA each year of their studies.
The New School’s FAFSA code is 002780.
FORMS OF NEED-BASED AID
Federal and State Grants
These are government funds for undergraduate students that do not have to be repaid. The federal government offers grants such as the Federal Pell Grant; in addition, several state governments offer grants that can be used for tuition expenses. You must file the FAFSA to be considered.
Federal Loans
You must file the FAFSA to be considered for a federal student loan. Federal loans for undergraduate and graduate students must be paid back. They offer borrowers more benefits, like fixed interest rates, than most private bank loans.
Federal Work Study
FAFSA filers are considered for federal work study eligibility to help cover their attendance costs. Work study awards provide funding for part-time student employment, usually on campus.
The New School’s Center for NYC Affairs has created a handy guide to FAFSA:
Learn more about federal financial aid:
OTHER FORMS OF FUNDING
New York State Funding
There are two New York State–funded financial aid programs for undergraduate students (U.S. citizens and permanent residents) who have been state residents for 12 consecutive months before enrollment: the Tuition Assistance Program (TAP) and the Aid for Part-Time Study program. If you meet the requirement, please apply at hesc.ny.gov.
Private Loans
If you do not qualify for federal loan programs or if federal loans don’t cover your total costs, consider seeking loans from private lenders.
PART-TIME WORK OPPORTUNITIES
On-Campus Employment
The New School offers a wide variety of paid part-time jobs for international and domestic students in offices around the university. You must apply directly for the position in which you are interested.
Graduate students seeking academic positions such as teaching assistantships should apply through their academic department.
Jobs and Internships in NYC
The New School’s location in the heart of Greenwich Village opens up countless opportunities for students to work off campus and to complete internships, some of which may allow them to earn academic credit upon approval.
Learn more about external funding:
Learn more about our career services:
MORE THAN ONE WAY TO PAY
Whether or not you qualify for merit- or need-based assistance, you can budget payments through an interest-free monthly payment plan offered by The New School. Many families combine a payment plan with credit-based loans to finance all or part of college costs.
Learn more about payment plans:
Use this checklist to organize your financial aid process.
□ Apply for admission.
□ Submit the FAFSA.
□ Monitor the Admission Hub for updates on your application.
□ View your offer of admission and the financial aid award when they are available.
□ Visit newschool.edu/financialaid for advice on planning for New School expenses.
□ Pay your first-semester tuition by mid-August (fall start), mid-January (spring start), or late May (summer start).
Receive personalized assistance in navigating your financial aid journey— in person, on the phone, or online.
Our admission team and financial aid counselors are here to help you make attending The New School a reality.
Office of Admission
212.229.5150 or 800.292.3040
admission@newschool.edu
newschool.edu/admission
Office of Financial Aid
212.229.8930
finaid@newschool.edu
newschool.edu/financial-aid
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