FINANCIAL AID & STUDENT ACCOUNTS

The Office of Financial Aid administers a variety of assistance programs to help students finance their education, including institutional scholarship support on the basis of merit and demonstrated financial need. Detailed information regarding how to apply for aid and the types of aid available is provided on at www.newschool.edu/financial-aid/

Eligible students may apply for assistance under federal and state programs: studentaid.gov/h/apply-for-aid/fafsa

Federal Undergraduate Grants 

• Pell Grant

• Supplemental Educational Opportunity Grant (SEOG) 

State Undergraduate Grants

• NYS  Tuition Assistance Program (TAP) (undergraduate students only)

• NYS Aid for Part-Time Study Program (APTS) (undergraduate students only)

• NYS Scholarships for Academic Excellence 

Loan Programs

William D. Ford Federal Direct Loan (Direct Loan) Program: 

• Subsidized loans made to eligible undergraduate students who demonstrate financial need to help cover the costs of higher education at a college

• Unsubsidized loans made to eligible undergraduate, graduate, and professional students, but eligibility is not based on financial need.

• PLUS federal loans that graduate (Grad Plus) students and parents (PLUS) of dependent undergraduate students can use to help pay for college.

Federal Work-Study Program

For additional information on financial aid sources, visit the Department of Education’s website at studentaid.gov/understand-aid/types/work-study

Private Credit-Based Educational Loans

Students who need additional funds to cover the cost of their education and those who are not eligible for federal loans may be able to borrow money for their education from a private lender. The New School has partnered with Elm Select to help students and their families research and compare private loan products. The lenders listed are based on the historical lending of our students and families over the previous two years. This list is not inclusive of all lenders, nor does it infer any preferences to these lenders. The New School is not affiliated with nor does it endorse particular private loan providers.

Veterans’ Benefits

The New School has a long history of welcoming veterans to its various courses and degree programs, recognizing in their unique life experience an exceptional potential only those who have served can claim. This tradition continues with the Student Veteran Services office, which provides guidance to all veterans and dependents from admission to graduation and beyond. Student Veteran Services (SVS) works to ensure that you are getting the support you need to transition smoothly to an academic setting and civilian life. All degree seeking programs of study are approved for veterans and their eligible dependents under the Department of Veterans Affairs, and The New School is an approved participant of the Department of Veterans Affairs Yellow Ribbon program. 

In accordance with Section 103 of Public Law (PL) 115-407, ‘Veterans Benefits and Transition Act of 2018,’ amends Title

38 US Code 3679 by adding a new subsection (e) that requires disapproval of courses of education, beginning August 1, 2019, at any educational institution that does not have a policy in place that will allow an individual to attend or participate in a course of education, pending VA payment, providing the individual submits a certificate of eligibility for entitlement to educational assistance under Chapter 31 or 33.

In accordance with Title 38 US Code 3679 subsection (e), this institution adopts the following additional provisions for any students using U.S. Department of Veterans Affairs (VA) Post 9/11 G.I. Bill® (Ch. 33) or Vocational Rehabilitation and Employment (Ch. 31) benefits, while payment to the institution is pending from the VA. This institution will not:

• Prevent nor delay the student’s enrollment.

• Assess a late penalty fee to the student.

• Require the student to secure alternative or additional funding. 

• Deny the student access to any resources available to other students who have satisfied their tuition and fee bills to the institution, including but not limited to access to classes, libraries, or other institutional facilities. 

However, to qualify for this provision, such students may be required to:

• Produce the Certificate of Eligibility by the first day of class.

• Provide a written request to be certified. 

• Provide additional information needed to properly certify the enrollment as described in other institutional policies.

Occupational and Vocational Rehabilitation Program

The New School is an eligible institution for the New York State Occupational and Vocational Rehabilitation Program (OVR). Other states have similar programs. Depending on the state, a student may receive half the cost (or more) of yearly expenses. For information and application, contact the New York Department of Vocational Rehabilitation (or other state equivalent) directly. Students approved for assistance by a state vocational rehabilitation program must also meet all other entry requirements of The New School.

Grants from Other Regions

Rhode Island, Vermont, and Washington, D.C., are among jurisdictions offering grants that may be used at New York State institutions, with maximum awards as high as $2,000. Qualification requirements vary from state to state. In all cases, students must maintain a legal permanent address in their home state (a parent’s address is sufficient). For information regarding programs available and their respective requirements, students should contact their home state’s department of education.

How to Apply

In general, to be eligible for assistance under the programs listed above, students must be matriculated into a degree program and be enrolled at least half-time. To be eligible for federal government assistance, students cannot  be in default on or owe a refund to any of the federal aid programs.

U.S. citizens and eligible residents: Students interested in applying for any government and institutional financial assistance based on need must complete a Free Application for Federal Student Aid (FAFSA) annually. The New School’s code is 002780. Apply electronically at studentaid.gov/h/apply-for-aid/fafsa. Filing FAFSA enables the Office of Financial Aid to receive a need analysis report or Student Aid Report (SAR) electronically.

Tuition & Fees

Estimated Cost of Attendance and Determining Eligibility

The Student Aid Report (SAR) allows the Office of Financial Aid to determine a student’s eligibility for institutional needbased scholarship awards and federal aid programs. The expected family contribution (EFC) and aid from other sources are subtracted from the student expense budget to determine the individual student’s financial need. Thus, a simple expression of the financial aid equation is represented by the following formula: Student Expense Budget – Available Resources = Need.

Your student expense budget, also known as your Cost of Attendance (COA), is the foundation on which eligibility for student financial assistance is determined. Federal laws regulating the disbursement of funds to students receiving Title IV aid (including Federal Pell Grants, Federal Supplemental Educational Opportunity Grants, Federal Academic Competitiveness Grant, William D Ford Direct Loans, and Federal Work-Study awards), dictate the expense items that can be included when calculating COA budgets. Allowable expenses for the period of enrollment are tuition and fees, books and supplies, room and board, other personal expenses, transportation costs, and federal loan fees.

Tuition, fees, educational expenses, billing, payment options  as well as rules and regulations governing aid eligibility can be found at www.newschool.edu/tuition-fees-billing/ or by contacting the Office of Student Accounts, The New School, 72 Fifth Avenue 2nd floor, New York, NY 10011, 212.229.8930, myaccount@newschool.edu. Financial aid inquiries should be directed to the Office of Financial Aid. finaid@newschool.edu.