PAY TUITION AND COMPLETE FAFSA FOR FINANCIAL AID
The cost of the 2-year Executive MBA program that begins in January 2012 is $149,000. The total includes all fees, books, study materials, meals on class days, group tutors for selected courses, lodging and meals for the residency and two Global Study Tours (note that it does not include airfare to and from the Global Study Tour destinations or related incidental expenses).
Tuition Payment Schedule for Class Beginning January 2012
Due on acceptance
|$5,000 (non-refundable tuition deposit)|
|Due December 15, 2011||$36,000|
|Due July 15, 2012||$36,000|
|Due December 15, 2012||$36,000|
|Due July 15, 2013||$36,000|
The balance due on your Statement of Account can be paid with electronic checks, personal checks, bank drafts, wire transfers and/or money orders. If your account requires payment by certified check or money order, you may not make payment by electronic check.
If you are participating in a third-party payment (tuition reimbursement) plan, provide the information needed to bill your employer when you complete Form 1. Please contact Shivani Dhir (see below) with your questions on tuition reimbursement.
Your registration is not complete until all required forms and your tuition payment are received. The payment deadline for all new students is December 15, 2011. Please do not wait until the last minute.
Payments can be made directly to the NYU Stern bursar at:
NYU Stern School of Business
Office of the Bursar
44 West Fourth Street, 6th Floor
New York, NY 10012
You may contact Shivani Dhir at:
NYU Stern School of Business
Executive MBA Program
Attn: Shivani Dhir
44 West Fourth Street, Suite 4-100
New York, NY 10012
FINANCIAL AID GENERAL INFORMATION
1. Who can apply for financial aid?
You can apply for financial aid if you: (a) are self-paying, (b) receive partial financial support from your firm, and/or (c) are being reimbursed through a tuition reimbursement plan.
Note: If you are being reimbursed retroactively through a corporate tuition reimbursement program, consider taking out a loan to cover your first invoice (1/4 tuition plus loan processing costs). You will then use your company reimbursement for your Spring 2012 courses to pay the Fall 2012 invoice. Eventually, in the Fall of 2013, you can use your fourth and final reimbursement to pay off your Federal loan. There is no pre-payment penalty for Federal loans. If you qualify for the subsidized portion of the Stafford Loan, interest does not begin to accrue until six months after graduation. Repayment for all federal loans typically begins six months after graduation or six months after you drop below six credits of registration.
2. How do I apply for a loan?
Refer to the section below titled “Financial Aid Instructions for Spring 2012 Executive MBA Students.” Read everything carefully; then fill out the FAFSA application on the web, following the directions. Approximately four to six weeks later, NYU Stern’s Financial Aid Office will send you an award notice and recommend loan programs for you. Note: Students generally apply for Federal loans because of more favorable long-term interest rates.
3. Where can I ask questions?
The NYU Stern Financial Aid office is located in the Henry Kaufman Management Center, 44 West Fourth Street, Suite 6-140. You can contact the Stern Graduate Financial Aid Office by email: firstname.lastname@example.org, by telephone: 212-998-0790, or by fax: 212-995-4606, or visit the website:
4. What happens if the loan disbursement arrives after the tuition deadline?
The Bursar will grant a credit on your account as long as your Federal and/or private loans are fully approved. There are no late fee penalties.
5. What about the $5,000 non-refundable deposit?
The $5,000 deposit is due before enrollment and is not refundable. You must pay your deposit by the deadline given in your letter of admission to hold your place in the class. If your organization is late in cutting the check, you will be required to pay with a personal check, and then seek reimbursement from your organization.
FINANCIAL AID APPLICATION INSTRUCTIONS FOR SPRING 2012 EXECUTIVE MBA STUDENTS
1. FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA): If you are a U.S. citizen or permanent resident, complete the FAFSA as soon as possible, in order to qualify for Federal student loans for Spring 2012.
Note: You will need to re-apply for financial aid and submit another FAFSA form for the 2012-2013 Academic Year.
2. STUDENT AID REPORT (SAR): Approximately one week after you submit your FAFSA, the Federal processor will email you a link to your SAR. The SAR is a summary of the information you provided on your FAFSA.
3. APPLYING FOR FEDERAL AND PRIVATE LOANS: After you have paid your enrollment deposit, Stern Graduate Financial Aid Office will review your information and email you instructions on how to activate your financial aid award.
FEDERAL SUBSIDIZED STAFFORD LOAN: This is a long-term, fixed-interest loan guaranteed by the Federal government. The government pays the interest while you are enrolled in school. The limit is $4,250 per semester, the annual limit is $8,500 and the aggregate limit is $65,500. The interest rate is 6.8%, and origination fees of .5% are applicable.
FEDERAL UNSUBSIDIZED STAFFORD LOAN: The terms of this loan are the same as for the subsidized Stafford loan except that your loan eligibility is not based on financial need and interest accrues from the date of disbursement. The annual limit is $20,500 less the amount of subsidized loan funds, and the aggregate limit is $138,500 (including the Federal Stafford subsidized loan amount).
NOTE: You may also apply for the Federal Graduate Plus loan to supplement your Stafford loans. This loan is not a need-based loan. Its approval is contingent upon a credit check. The interest rate on this loan is 7.9%, and origination fees of 2.5% are applicable. (You may choose between this loan and a private loan. See details on private loans below).
If you are eligible for Federal loans (subsidized and/or unsubsidized or Graduate Plus), the amount(s) for which you are eligible will be listed on Albert, the university wide system, after you file the FAFSA.
How to Secure Your Financial Aid:
*Both steps 2 and 3 can be completed at StudentLoans.gov
For more information on the federal loan program, you may visit the Stern Graduate Financial Aid Office website at:
For more information on disbursement of funds, you may also refer to the Stern Graduate Financial Aid Office Disbursements and Refunds page.
PRIVATE EDUCATIONAL LOANS: In tandem with your Federal loans, you may also take out a private loan. All private loan programs require that you have a good credit history and some may require a credit-worthy co-signer. For a listing of lenders that offer private student loans, please visit Private Student Loans for Domestic Students. Certain private loan programs allow eligible international students to borrow money for tuition and living expenses not covered by other financial aid. These loans may require a credit-worthy U.S. citizen or U.S. permanent resident as a co-borrower.
International students may review loans available to them at:
* Note: Since the disbursement date for loans is after the Bursar's payment deadline, you must have all loans approved before the payment deadline in order to use the approved loan funds as a “credit” toward your account.
* Also note for both federal and private loans: Since the volume of disbursements is high at the start of each semester, please be sure to budget accordingly. If your student account has a credit balance because of excess financial aid, you maybe entitled to a refund. You should not count on a refund for the first month of any semester.
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