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Financial Aid


All admitted students in good standing who are not receiving aid elsewhere can expect to receive financial aid. Applicants are not required to complete financial aid applications

Stern provides a full-tuition scholarship for an approved program of study. In addition, students receive an annual living stipend and individual health insurance for up to five years, provided that students maintain satisfactory academic standing. All financial aid awards require residency for 11 months (September-July).

Students also receive financial support for research, conference travel, and research computing needs.

Doctoral Student Funding

  • The First Three Years of Financial Aid: During the first three years of study, the stipend is provided in the form of a full fellowship.
  • Fourth Year Financial Aid: The stipend in the fourth year is packaged through a combination of teaching and fellowship. Stern PhD students are required to teach one undergraduate class at Stern. The opportunity to teach is an important part of the learning experience, and helps students to obtain better job opportunities upon graduation.
  • Fifth Year Financial Aid: Fifth-year fellowships are mostly funded by special named donor fellowships. All fifth year students in good standing receive full funding. However, the stipend may either come in the form of a full fellowship, or a combination of fellowship and teaching. Full-fellowships are performance based.


The following named fellowships may be awarded: Ernest Kurnow Fellowship, Donald L. and Valerie R. Honerkamp Fellowship, Fred Renwick Fellowship, Joseph Taggart Fellowship, Marcus Nadler Fellowship, Benjamin Levy Fellowship, David Wood Fellowship, Jules Bogen Fellowship, Edward Deming Fellowship, Paul Willensky Fellowship, James T. Clifford Memorial Fellowship, Milton Reynolds Fellowship, Lee Sproull Doctoral Fellowship, Edwin and Diane Elton Fellowship, PhD Director's Fellowship, and PhD Alumni Fellowship.

In addition, some doctoral students win fellowships from sources outside of Stern, i.e., NASDAQ, NSF, AAUW, AICPA, State Farm, Social Science Research Council, KPMG, Society of Actuaries, etc.

The Fred Renwick Fellowship Program

The Fred Renwick Fellowship offers annual support to U.S. citizens who are planning careers in college or university research and are enrolled in doctoral studies at New York University’s Stern School of Business. The goal of the fellowship program is to provide generous financial support for scholars from the African American community in their pursuit of the doctoral degree.  The Fellowship is designed to promote diversity both in the NYU Stern doctoral programs and among the faculties of the world’s leading business schools, by virtue of NYU Stern’s outstanding placement records after the student graduates.
Candidates should demonstrate a deep and abiding commitment to the role of African-American individuals in academia. Candidates must specialize in Finance or Economics.  Fred Renwick Fellows will receive a stipend supplement and additional research funding for up to five years, in addition to Stern’s living stipend, tuition scholarship, health benefits, and housing assistance.
Admitted students to the Fall 2016 doctoral program will be selected on the basis of academic merit and the perceived potential to serve as a mentor for future graduate students.

  • Term of Fellowship: September 1, 2016 to July 31, 2017 (renewable)
  • Application Deadline: Concurrent with PhD program admissions deadline, January 5, 2016
  • Application Review Start Date: January 6, 2016
  • Award Announcement: Concurrent with PhD program admissions invitations, March 2016