If your Free Application for Federal Student Aid (FAFSA) indicates that you qualify for federal aid, you will see federal aid included in your financial package from NYU. We encourage you to thoroughly review and research what each type of federal aid involves and what your long-term responsibilities will be. You must complete the FAFSA by the appropriate deadlines to be eligible for federal aid.
FAFSA Application Tips
Federal Loans
Your financial aid package from NYU will most likely include a suggested student loan amount, as admitted applicants who have their FAFSA on file are automatically considered for student loans. You should read your loan information very carefully and be sure to follow all instructions included in your financial aid letter to finalize your loan processing and approval.
The Federal Stafford Student Loan Program makes unsubsidized loans available to students taking a minimum of 4.5 credits. Graduate students may borrow up to $20,500 in unsubsidized Stafford loans each academic year. If needed, Direct PLUS Loans allow students to borrow up to the full cost of education, minus other financial aid received.
You can also explore private loan options.
Loan Forgiveness
You may be able to cancel some of your loan debt if you meet certain requirements, such as working in the public service sector, teaching in a low-income school, or working in social service agencies that serve communities in need. Review the Federal Student Aid overview on loan forgiveness to learn more.
Income-Based Loan Repayment
The Income-Based Loan Repayment Plan (IBR) caps your required monthly federal student loan payments at an amount intended to be affordable based on your income and family size. Under the IBR requirements, you may also be eligible for the ten-year Public Service Loan Forgiveness. Find out more in the Federal Student Aid overview on income-driven repayment plans.
Federal Work-Study and Student Employment
Many financial aid award packages include recommended academic year earnings. This means you are eligible to participate in the federal work-study program and may earn up to the amount recommended in your award letter. You can seek out federal work-study jobs, which generally average 15–20 hours per week, through NYU's Wasserman Center for Career Development. Positions in various on-campus departments and organizations are readily available, though not guaranteed. Academic year earnings are paid directly to you on a biweekly basis and are normally used for books, transportation, and personal expenses.
America Reads and Counts at NYU
Earn your federal work study funds while working in a rewarding job through the largest university-based tutoring program in the US. Working under the supervision of classroom teachers, tutors help ensure that the children with whom they are working are reading and doing math at or above their grade level. You do not need to be enrolled in a teacher preparation program or have prior tutoring experience, but you must be able to make a minimum weekly commitment of six hours in blocks of no less than two hours, and must have a federal work-study allotment determined on the basis of your FAFSA. Learn more about the America Reads and Counts at NYU program – the largest of its kind in the nation!