NYU recognizes that the cost of living in New York City, particularly rising residential rents, can pose significant challenges for graduate students. Housing-related expenses are increasingly important when students evaluate their options, especially as other universities may offer discounted housing or additional housing support.
To help address these challenges and support PhD students, some NYU schools, such as Steinhardt, offer financial support in the form of a residential lease guaranty. Under this program, the University will guarantee up to twelve months of rent under an appropriate lease as an inducement to landlords to rent to Steinhardt fully-funded PhD students.
The Lease Guaranty Program is intended to provide greater housing stability for eligible PhD students by allowing NYU to serve as a guarantor on qualifying residential leases. This support may help students secure housing that would otherwise be inaccessible without a guarantor.
Note: As the tenant, you are responsible for paying your rent. NYU, as the guarantor, will only make rent payments to the landlord if you fail to do so. Under the indemnification agreement, you are required to reimburse NYU for any rent or related expenses it pays on your behalf under the lease guaranty.
Eligibility
Please note the following regarding the criteria for participation in the Lease Guaranty Program:
- Entering full-time PhD students supported on the Steinhardt Fellowship Program, applying prior to their first term of enrollment, are eligible to apply.
- Continuing, fully-funded Steinhardt full-time PhD students who are within the first five years of enrollment in their doctoral programs are also eligible to apply.
- Students must be in good standing with the Bursar's Office to be eligible to apply.
- Students may participate in the Lease Guaranty Program more than once. The term of each lease may be one or two years, but no more, and in any event, the Guaranty will be limited to the sum of 12 monthly rent payments at a time as set forth in the Guaranty.
- Space in the Lease Guaranty Program is limited and not all requests may be approved. Applications will be evaluated on a first-come first-served model regardless if they have already participated in the program or not
- There is not a specific limit for program eligibility, as decisions are made on an individualized basis depending on the student's annual income. However, we suggest students search for apartments with a monthly rent that is a modest amount of their annual income.
How to Apply
If you are applying to the PhD Lease Guaranty Program, please follow the submission process outlined below.
- Submit Your Request: Complete and submit the Steinhardt Lease Guaranty Program Google Form to begin the application process.
- Await Review and Approval: The Steinhardt administrative staff will review your submission. Once your request is approved, you will be notified and contacted to schedule a meeting to proceed with the document signing process.
- Sign and Notarize Required Documents: After approval, the documents must be signed by you and by the Steinhardt Vice Dean of Finance & Administration. Additionally, the documents must be notarized by the NYU Office of General Counsel. Important: No delegation of signatures is permitted—both signatures must be completed personally by the respective parties.
- Lease Guaranty
Confirms NYU’s guarantee of a portion of your rent, specifying the maximum amount covered. - Release and Waiver of Liability
Confirms that you accept all rental risks, release NYU from liability, and remain personally responsible for the lease. - Indemnification Agreement
Requires you to reimburse NYU for any rent or expenses paid under the lease guaranty and to hold NYU harmless from related claims. This confirms that the University is not responsible for tenant defaults.
- Lease Guaranty