New York University is a private university located in New York City. Since its establishment in 1831, NYU has provided high-quality education to thousands of students. After these students have graduated, many of these students have been successful. There are numerous Nobel Prize Winners, Turing Winners, Pulitzer Prize Winners, and other prestigious award recipients among its alumni. If you are into pop culture, Lady Gaga and Angelina Jolie are famous alumni.
Currently, there are approximately 25,000 undergraduate students and 26,000 postgraduate students studying at NYU. These students study at numerous colleges and departments including College of Arts and Sciences, Tandon School of Engineering, Stern School of Business, etc.
The university is ranked high in USA Rankings, and some of the most notable rankings are 19th place in QS World Rankings and 30th by U.S. World Rankings. You can see from these rankings that New York University does indeed has great degree programs for its students. It is well known for its business program and engineering programs, and that does not mean that other programs are of inferior quality.
One of the most frequent reasons why prospective students immediately shut down the idea of attending NYU is its ticket price (tuition cost). However, there are financial aid and scholarships that are available at New York University to make the actual price that students pay to be much lower. This article will go over the different NYU scholarships and financial aid so that you can afford your study at New York University.
New York University Cost of Attendance
The cost of attendance for New York University is approximately $70,000 a year. Approximately $50,000 is tuition fees, $15,000 is room and board, and the rest is personal expenses. Keep in mind that these costs do not factor in scholarships at New York University.
Only the super wealthy would be able to spend this much money on their children’s education. To make education accessible, New York University has generous financial aid and scholarships from its fund through endowment, grants, government funds, alumni donations, etc.
New York University Scholarships
New York University offers both merit and need-based scholarships for its students. These can be widely categorized as university-wide and college-based scholarships. So, let’s take a look at these scholarships!
1. University-Wide Scholarships
Every incoming student is eligible to receive these scholarships. With the exception of 9/11 scholarships, there is no separate application.
A. AnBryce Scholarships
This is a four-year full-tuition scholarship for first-generation students who have excelled in academics. To demonstrate this, you should have a high GPA, test scores, as well as extracurricular activities that highlight your desire to learn more.
B. Arch Scholarships
This scholarship at New York University is given to students who have a mindset to serve others and make this world a better place. Also, students should have demonstrated financial need.
C. Lewis Rudin City Scholarships
This scholarship is given to students who have graduated from high schools in New York City. It is named after an alumnus, who donated funds to help the local students to attend NYU.
D. Martin Luther King, Jr. Scholarships
This scholarship is awarded to students who have followed in the footsteps of Martin Luther King Jr. by doing community service, showing leadership, and advocating for progress. The scholarship recipients receive monetary aid as well as opportunities to network, travel, and do community service.
E. September 11 Scholarships
These scholarships are for children of police, fireworker, and other emergency response workers that have died at 9/11. These scholarships can cover full tuition, room, and board. You will need to submit additional paperwork to show your eligibility criteria. Please note that all victims other than those mentioned above do not qualify for this scholarship.
2. College-Based Scholarships
These are awards that are given by individual colleges, such as Tandon School of Enginnering and College of Arts and Sciences. Students will be automatically eligible for many of these scholarships when they apply for admissions, but some scholarships will require additional application materials. Look at the section below on how to apply.
How to Apply for NYU Scholarships
To be considered for scholarships without a separate application, which consists of the majority of the scholarships, you will need to file CSS Profile and FAFSA to be considered. Then, you will need to check the NYU Scholarship Page to check if the scholarships that you are interested in require an additional application. You should definitely do this for college-based scholarships.
The deadline to submit the financial documents differs based on your type of application that you are submitting. If you are applying through Early Decision I, the deadline is November 15, for Early Decision II, it is January 15, and for Regular Decision, it is February 15. So, make sure to fill out your financial aid documents before these deadlines to be eligible for New York University Scholarships!
New York University Grants
Now, let’s take a look at grants, which are awarded based on need. These can be categorized into Federal, State, and University Grants.
Federal grants are available for low-income familes, and it includes Pell Grant, Teach Grant, Federal Supplemental Education Opportunitiy Grants, etc. You will automatically qualify for these when you file the FAFSA.
State grants are given to the New York residents, and this includes the New York Tuition Assistance Program (TAP) Grant. You will need to file additional paperwork to be eligible. We will go over how to apply to this grant in the next section. The maximum income limit is $80,000 per year.
New York University grants are given by the university to award money to students who have demonstrated need. No additional application is required except for CSS Profile and FAFSA.
How to Apply for Grants
To qualify for federal and state grants, you will need to file FAFSA and CSS Profile. FAFSA is used for federal aid, and CSS Profile is used for institutional aid. To qualify for the TAP grant, you will need to file a separate application. For the application link to TAP and additional information on these grants, visit the NYU Grants Page!
New York University Loans
Loans are the third type of financial aid that you might receive in your aid package. There are several types of loans, which are federal loans, university loans, and private loans. The most recommended type of loans to get is the federal loans because these have the lowest interest and are subsidized, which means the loans’ interest doesn’t start accumulating until after you graduate.
Then, the next recommended type of loans is university loans, which have decent interest rates and also subsidized. The final type of loans is private loans, which have high-interest rates and most loans accumulate interests even while you are in college. So, you should avoid this type of loans at all cost.
Net Price Calculator
Now, you may wonder what is the actual price that you will pay to attend New York University. A useful tool is the net price calculator, which is a tool to estimate the New York University Scholarships and Grants that you will receive at the university. It will ask you questions about your and your family’s finances, just to give you a heads up! When you finish the form, it will give you an estimate of what you will pay at NYU.
Please keep in mind that this is a rough estimate. Your actual aid might be higher or lower. You can only know your actual aid only when you receive your financial aid package.
I hope that this article on New York University scholarship and financial aid was helpful. If you are from New York, I highly recommend that you go to New York Scholarships Category because these universities will likely be the most affordable. If you are not from New York, I suggest that you go to Authority Scholarship Website and visit the category of your state.