| There is some financial aid credited on my bill this semester, but I was also expecting other credits. What happened to my: |
| > | TAP Grant? | |
| > | Pell Grant? | |
| > | Scholarship? | |
| > | Perkins Loan? | |
| > | Federal Stafford Loan and/or Federal PLUS Loan? | |
| > | Private Loans? | |
| > | Federal Work-Study? | |
| > | Federal ACG or SMART Grant? |
| F R E Q U E N T L Y A S K E D Q U E S T I O N S |
I applied for financial aid. Where is my award?
NYU students who submit the FAFSA in accordance with our application deadlines will receive a financial aid award letter which specifies the types and amounts of aid offered.
Award letters are normally sent to students (mailed to the permanent address) during the following periods:
| New Freshmen | early April |
| Returning Undergraduates | mid June |
| New Graduates | varies by school; generally April/May |
| Returning Graduates | mid June |
Students should also use NetPartner
to review their financial aid package and/or financial aid messages.
How do I apply for financial aid?
Go to: Basic Financial Aid Application
Information
What forms other than the FAFSA are required to apply for financial aid?
NYU requires students to submit only the Free Application for Federal Student Aid (FAFSA), and later, New York State residents must also complete the New York State Tuition Assistance Program (TAP) application. The FAFSA is the basic form for most student aid programs; be sure to complete all required sections. Students should give permission on the FAFSA for application data to be sent to New York University: our federal school code number is 002785.
If you want summer financial aid, you must complete a summer
aid application in addition to the FAFSA and TAP application.
How do I make necessary changes or corrections to my Student Aid Report (SAR)?
Go to: Student Aid Report (SAR)
How do I receive a scholarship?
Go to: Scholarships
What about the federal ACG and SMART grants?
A message to students from the U.S. Department of Education announces the introduction of additional federal financial aid programs: The Academic Competitiveness Grant and the National SMART Grant. All students who submit the FAFSA initially will be considered for these new grants. These programs are incentive grants and specific eligibility criteria must be maintained.
ACADEMIC COMPETITIVENESS GRANT (ACG)
NATIONAL SCIENCE AND MATHEMATICS ACCESS TO RETAIN TALENT (SMART) GRANT
What types of financial aid are available to international students attending NYU?
Go to: Financial Aid for International
Students
What about student employment? (And what is "Work-Study"?)
Go to: Student Employment
I have financial aid now, but what about next year? Is it necessary to apply again?
Yes, you must reapply each year to determine and renew your financial aid. (And if you submitted a FAFSA for the current academic year and received an NYU scholarship, you should submit the FAFSA again each year to ensure normal processing.) Submit the FAFSA at FAFSA on the Web.
Each year the U.S. Department of Education will send to you a renewal reminder containing important information about your Federal Student Aid PIN and the FAFSA application process. (If you included a valid e-mail address on your FAFSA last year, you will receive the reminder by e-mail. Otherwise it will be mailed to your permanent address.) You will need your Federal Student Aid PIN to access your pre-filled FAFSA on the Web application that contains much of your application data from last year.
Visit the PIN web site at www.pin.ed.gov to verify your existing PIN, to request a duplicate if you have forgotten your PIN, or to request a new PIN if you (and your parents, if applicable) don't have one. (You use the same PIN each year, so you probably have one already).
It is possible to apply for financial aid online without a PIN, but you must provide answers to all questions on a new FAFSA and you must print, sign, and mail the signature page after you submit the application, which will slow the process.
After January 1 but before March 1 (graduate students should consult their school for exact deadlines) access your FAFSA on the FAFSA web site and revise the information to reflect your income for the preceding year (and other information only if it has changed), then submit the application. Be sure that you specify NYU (code 002785) as the recipient of your information.
You should receive your Student Aid Report (SAR) within a few weeks after submitting the FAFSA. Call (800) 4-FED-AID (433-3243) if you don't receive it. You may also view your SAR on the FAFSA web site (see the "FAFSA Follow-up" area) and make changes if necessary.
If you apply correctly and on time you can expect your NYU financial aid award letter by late May (for returning undergraduates), describing your aid package for the next academic year.
Remember that the FAFSA and all necessary signatures must be received and validated by the processor and released to NYU no later than March 1 (not postmarked March 1), or the department deadline specified by your NYU school, if different. If you delay, a loss of aid could result. If you have not filed your tax return by March 1, you should use best estimates on the FAFSA, but once you file you must return to www.fafsa.ed.gov and make corrections (see "FAFSA Follow-Up"). Remember, you must apply each year to renew your financial aid. March 1 is the priority deadline for most schools at NYU. Applying late could make you ineligible for certain types of aid, and funds become more limited. Also, if you submitted a FAFSA last year and received an NYU scholarship, you should submit the FAFSA again each year by the NYU deadline to ensure normal processing.
If you are a New York resident and received a state TAP grant, you must
renew your grant award for next year to ensure credit for TAP on your
Bursar bill. Click here for more information about
the TAP application process.
How do I get more financial aid?
Review your FAFSA
Most student aid is based upon financial need, which is determined by the results of your FAFSA. The first step you should take is to ensure that the information you submitted on your FAFSA is correct. If your initial submission contained errors, you should correct your data online via the FAFSA web site at www.fafsa.ed.gov (refer to the "FAFSA Follow-up" menu). If your original data was correct when first submitted but your financial circumstances have changed since you filed the FAFSA, then, depending upon your situation, you may be eligible for review through a process called Professional Judgment. This process allows a financial aid administrator, under specific circumstances, to review your FAFSA eligibility based on new documentation, which will possibly change your eligibility for federal student aid. To determine if you are eligible, you should complete and submit the Professional Judgment Worksheet, available on our Forms and Applications menu. We will review your circumstances and notify you about opportunities for additional grants, federal loans, and alternative loans.
Change in Eligibility Increase
If you have enrolled for additional credit points and your tuition and/or fees have increased, if your housing status has changed (i.e. "off campus" vs. "on campus"), or if your grade level has changed, then your eligibility for federal loans (and possibly other types of student aid) may be reevaluated. Contact us or send an e-mail message to us to explain your status change at NYU and to request that your aid be reviewed and/or your federal loan amount be increased if you are deemed eligible. If so, we will certify the additional amount(s) and send you a revised financial aid award letter. The loan funds will arrive on or after the disbursement date specified on the disclosure statement sent to you from your lender. (Please note that annual and aggregate maximum borrowing limits apply to the Federal Subsidized Stafford Loan and Federal Unsubsidized Stafford Loan.)
This change may also affect your eligibility for private student loans. Once you have maximized your federal loan eligibility then you may apply for additional private loan amounts to meet the cost of attendance. (See our information about Private Loans.) Once we have received approval from your lender, the Office of Financial Aid will certify the private loan and then notify you accordingly.
Individual Budget Appeal
If you find that your miscellaneous education-related expenses for the academic year (e.g. books and supplies, computer equipment, etc.) will exceed those projected in NYU's estimated budget for your total cost of attendance, please submit the Budget Appeal form, also available on our Forms and Applications menu.
General Scholarship Increase Request
Returning undergraduate students who have submitted their FAFSA and wish to increase or add scholarship funding to their financial aid package may do so via the annual appeal process. During appeal season, our online Appeal Form for Returning Undergraduates is available on the Forms and Applications menu. Students must meet the specified appeal deadline and include an explanation of why they are seeking additional funding. Appeal results are typically based on financial need and academic performance. The amount of appeal funds available varies each year, and individual NYU schools work closely with the Office of Financial Aid throughout the process to make the appeal determination.
Note: SCPS McGhee students are not eligible to use the Appeal Form for Returning Undergraduates. Please submit a letter of appeal directly to the SCPS Office of Admissions.
NYU graduate students should consult with the admissions/financial aid representative in their school or program department.
Conclusion
Regardless of your status, we strongly encourage all students to explore the many private scholarships available.
You also may find NYU
Payment Plans to be helpful. Although they are not a form of financial
aid, NYU Payment Plans provide a good way to budget and plan your payments
for each semester.
I will attend NYU in the summer. Is there any aid available then?
Usually yes. To be considered for ANY type of financial aid in the summer you must submit the NYU Summer Financial Aid Application, available on our forms menu from February through June. If you are an NYU undergraduate student and wish to be considered for a summer scholarship (extremely limited), you must submit the application no later than March 1. To be considered for both NYU funds and federal aid you must also have completed the FAFSA (for the current or next academic year). To be considered for federal and private aid for the summer, the deadline to submit the summer aid application is in mid-June.
A Summer Financial Aid Application is also available for non-NYU
"visiting" students (deadline mid-April).
I will enroll in a Winter Session course. Is financial aid available?
No, financial aid is not available for the Winter Session.
I will graduate at the end of the fall semester. Can I have aid awarded for the following spring semester applied to my fall account?
No.
Most financial aid, such as TAP, Pell Grant, Perkins Loan, and NYU scholarship, is based on full academic year attendance, so if you are enrolled for one semester only, you will be awarded the appropriate portion for which you are eligible. If you don't have any summer federal loans, you may be eligible to borrow an additional Federal Stafford Loan amount for the fall semester.
PLEASE NOTE: If you are interested in additional fall Stafford Loan
funds you must contact us before December to
allow ample processing time before the end of the fall semester.
My grade level will advance in the spring. Will I be eligible for more financial aid once I become a Sophomore/Junior/Senior?
You might be eligible for more Federal Subsidized Student Stafford or
Unsubsidized Stafford Loans. Once your grades have been posted on the
Student Information System after the fall semester, if your grade level
has increased from a Freshman level to a Sophomore level (32 points
earned), or has changed from the Sophomore level to a Junior level (64
points earned) you may be eligible for more Federal Student Stafford Loan
or Federal Student Unsubsidized Stafford Loan. If you would like your
eligibility for a loan increase to be reviewed, click
here to send an e-mail message to us with your specific request. If
you are eligible, the loan amount will be increased and you will receive a
disbursement as scheduled. (A new loan application is not
required.) A disclosure statement will be mailed to you by your lender
reflecting the increase and your financial aid award will also include the
additional loan amounts. Also, please note that the increase could effect
your loan eligibility for the upcoming summer if you plan on attending and
receiving federal loans in the summer.
I am an Undergraduate student considering an internal transfer to another NYU school in the spring. How will my financial aid be affected?
In most cases the amount of financial aid you receive will not be affected. If your total credit points, your housing status, and your FAFSA information is the same as it was for the fall semester, the amount of financial aid you receive should remain the same.
PLEASE NOTE:
If you are uncertain of your status, click
here to send an e-mail message to us.
Who do I speak to about a question or problem with my bill?
Billing transactions and associated student account issues are
administered by the NYU Office of the
Bursar.
How do I apply for a loan?
Go to: Basic Financial Aid Application Information
What are alternative loans?
Alternative loans are private (non-federal) loans. Specific terms and eligibility requirements will vary.
You (and your co-borrower, if applicable) should carefully research the options and apply for the alternative loan that best suits your needs. Keep in mind that usually your best option is to pursue federal loans. Be sure you have applied for all of the federal loans you are eligible for before you consider private loans. If you do wish to take out a private educational loan, you must to provide all documentation requested by the sponsor of the loan and follow their application instructions.
Click here for more information about
private lenders.
Why would I apply for an alternative loan?
While the Office of Financial Aid encourages you to first take advantage of the federal loan programs available to you, there may be times when a private loan is an appropriate option:
Most private loans are more expensive than federal loans and you are
advised to plan accordingly. Some do not have full deferment options. It
is best not to borrow more than you absolutely need. Also note that these
are educational loans only, which means you must be a registered student
and the amount you borrow cannot exceed the cost of attendance. (Specific
alternative loan programs may have fixed minimum and maximum amounts you
can apply for.) Individual lenders may, at their discretion, evaluate
credit history.
How can I reduce my federal loans?
If you have completed the MPN process for a Stafford
Loan and/or PLUS Loan but no longer want to
borrow the full amount, contact us as soon as
possible before the loan is disbursed to authorize a reduction.
How can I consolidate my student loans?
Go to: Student Loan Consolidation
My parents don't support me and won't contribute to my education, so why am I still considered a "dependent" student?
It's a federal definition.
There are basic requirements a student must meet to be considered an independent student (see The Guide to Federal Student Aid for criteria). If you do not meet these requirements but you still believe you are truly independent of your parents, you may appeal for a "dependency override" with our office. The example below describes the conditions of an acceptable override, but if your situation is different please bring it to our attention for review.
INVOLUNTARY DISSOLUTION OF FAMILY
To demonstrate the "involuntary dissolution" of your family you must present:
If you can provide the appropriate documentation, a dependency override
will be considered for you and your financial aid award may be changed
based upon an independent status. (Note that just because a student is
considered "independent" does not necessarily mean a student's aid will
increase.)
What academic standards must I maintain at NYU to be eligible for financial aid?
Go to: Satisfactory Academic Progress
Why hasn't financial aid been credited on my Bursar bill?
If no student aid of any kind has been deducted from your bill, chances are you didn't submit the Free Application for Federal Student Aid (FAFSA) or, if you did, you may have applied later than NYU's priority deadline, which may have affected your aid eligibility. If you didn't apply at all and would like to, click here for instructions. If you have already applied and received your Student Aid Report (SAR) from the federal processors, in most cases you should have received a financial aid award package from us a few weeks after you received the SAR. Verify with NetPartner that your FAFSA data has been transmitted to us and to confirm that you have received a financial aid award.
If your FAFSA information was received by NYU more than 3 weeks ago and
you have not received a financial aid award, you should first refer
to our award letter schedule, and, if your
award still seems delayed, then contact us. The
delay could be caused by circumstances concerning your aid eligibility.
For example, you may not be meeting the satisfactory
academic progress standards required to maintain student aid, or
further documents may be required from you before we are able to process
your award. Our counselors can discuss details with you and estimate when
you can expect an award.
I haven't yet applied, but my bill is due soon. I know processing takes several weeks from start to finish. Is there any type of interim aid I can have while I wait?
There is no interim aid. Students often ask if they can take out
private, non-federal loans while they wait for their FAFSA to be processed
and their federal loans to be disbursed. Students are discouraged from
pursuing this because it also takes a few weeks to receive alternative
loans, and if you take out alternative loans in advance of your federal
loans, you may inadvertently take out too much private loan, which you
would then have to return. This can be costly. Or, if you didn't want to
return the private loan funds your federal aid eligibility could be
adversely affected. The best strategy is to file the FAFSA
as soon as possible, and, in the interim, work out a payment
plan with the Bursar.
If you're eligible for financial aid and you've already made a payment to
the Bursar, you will be refunded
the amount of overpayment.
When can I expect my loan refund?
Loan refunds are administered through the NYU
Office of the Bursar, and there are important elements to consider if
you are anticipating a credit balance. For example, because your loans can
not be released to NYU before your designated disbursement date, and
because once they are disbursed certain basic enrollment criteria must
first be verified (e.g. you normally must be enrolled for at least 6
points) before the loan amount is applied to your account balance, a
refund resulting from your student loan will usually not be confirmed and
processed until a few days after your disbursement date.
My financial aid award was based on anticipated credits and housing status, but my plans have changed. What do I do?
Contact us if any of the conditions of your initial award has changed. Depending on the changes, your aid may or may not be affected, but it is always better to inform the Office of Financial Aid of your plans so adjustments can be made, if necessary, early in the semester. If you don't inform the Office of Financial Aid about the changes yourself, then any point discrepancies between anticipated and actual registered points will appear during an enrollment audit and adjustments will be made at that time. It is the obligation of the Office of Financial Aid to adjust aid according to University policy and federal regulations.
Click here to send an e-mail message if you
need to inform us of any changes.
Why has my citizenship status been requested? What are the citizenship requirements for federal aid?
Students may be required to verify their U.S. citizenship status to confirm eligibility for some aid programs (e.g. ACG and SMART Grants), and non-citizens are subject to different regulations which may require supporting documentation, depending upon the type of financial aid sought.
Go to: Citizenship Documentation
Is it too late to file my FAFSA now that NYU's priority deadline has passed? Is there any aid I can get while I'm waiting for my federal aid eligibility?
You are strongly encouraged to apply for
financial aid even if you missed the NYU
priority deadline. You may not qualify for the same amounts or types
of funds if you did not apply on time. However, there are still
alternatives available. For example, you will likely be eligible for some
form of federal loan, and possibly federal grants and Federal
Work-Study.
I have been asked to provide verification of my financial aid eligibility. What now?
Go to: Verification: Frequently Asked
Questions
There is some financial aid credited on my bill this semester, but I was also expecting other credits. What happened to my TAP Grant?
If you are a New York State resident, submitted a FAFSA, and applied for TAP using either TAP on the Web or an Express TAP Application (ETA), you should have received a TAP award certificate from the New York State Higher Education Services Corporation (HESC). Contact HESC at 1-888-NYS-HESC (1-888-697-4372) if more than a few weeks have passed without notification after submitting the FAFSA.
HESC will also advise the NYU Office of the Bursar about your eligibility. If you have received your TAP award certificate but credit has not yet been applied to your bill, write a note on the bill and pay the appropriate remaining balance.
Click here for details about the TAP Grant and
the application process.
There is some finacial aid credited on my bill this semester, but I was also expecting other credits. What happened to my Pell Grant?
To be eligible for a Pell Grant you must be an undergraduate, have not
earned a prior degree, and have an index of 3850 or less (as calculated by
the government). If you were eligible for Pell last year, you may not be
eligible this year — it can vary depending upon your resources. If
you think you are Pell eligible and you subsequently received a request
from NYU for documents to verify your FAFSA data, your Pell Grant may not
be applied to your bill until the verification review is complete. Use NetPartner
to see if you have any outstanding document requests. Also, if you changed
your SAR to update any information the changes
could have affected your Pell eligibility.
There is some financial aid credited on my bill this semester, but I was also expecting other credits. What happened to my Scholarship?
If you filed a FAFSA last year and
received a scholarship, but didn't file this year, your scholarship amount
could be affected. Most scholarships at NYU are based on a combination of
need and merit. Review the letter that you received from our office when
you were initially awarded. If you have not already submitted the FAFSA
and you need to, do so right away. Depending on the availability of
funding, late filers may not get their full scholarship.
There is some financial aid credited on my bill this semester, but I was also expecting other credits. What happened to my Perkins Loan?
If the federal processors received your FAFSA later than the March 1 deadline, you may not have received a Perkins Loan. There is a limited amount of federal Perkins funding available to New York University and we must give priority to those who apply on time.
There are a few other reasons why you may not be eligible for a Perkins
Loan. You must be a full-time student, demonstrate financial need, must
have received Perkins last year in order for it to be renewed, and must
complete your Master Promissory Note (MPN).
There is some financial aid credited on my bill this semester, but I was also expecting other credits. What happened to my Federal Stafford Loan and/or Federal PLUS Loan?
Be sure that you have completed the Stafford
Loan and/or the PLUS Loan application process
for proper disbursement of the funds. If a Stafford and/or PLUS Loan
amount was suggested on your financial aid award letter, submit the Master
Promissory Note (MPN) to the New York State Higher Education Services
Corporation (HESC), a guarantee agency for federal
student loans and New York State student aid. Deduct the pending loan
amount from your bill (minus up to 4 percent origination/insurance fees)
and pay the rest. (Note: you must renew the PLUS MPN annually, even if you
completed one last year.)
There is some financial aid credited on my bill this semester, but I was also expecting other credits. What happened to my Private Loans?
Your private loan must be approved by the lender and certified by NYU
before you will be given credit for that loan. If it has been approved
since the date of your bill, simply deduct the semester portion of the
approved loan from your bill.
There is some financial aid credited on my bill this semester, but I was also expecting other credits. What happened to my Federal Work-Study?
Federal Work-Study is not credited on your bill because it represents
a potential amount yet to be earned in bi-weekly paychecks during the
year. If suggested Work-Study is included in your aid package, it means
you are eligible to participate in the Federal
Work-Study Program. For help in finding a job to earn this money,
contact The Wasserman Center for Career Development at 212-998-4730.
There is some financial aid credited on my bill this semester, but I was also expecting other credits. What happened to my Federal ACG or SMART Grant?
To be eligible for an Academic Competitiveness Grant (ACG) or a
National Science and Mathematics Access to Retain Talent (SMART) Grant,
you must demonstrate financial need, be a Federal Pell Grant recipient,
and meet rigorous academic performance standards as specified by the U.S.
Department of Education. Review all the qualification
criteria to confirm that you are eligible. Changes/updates to your SAR,
etc. can change your student aid status and affect grant eligibility.