Financial Aid

Students who wish to use financial aid may be eligible for Federal and/or Private student loans. Federal loans consist of funding provided by the government to domestic students (U.S. citizens and permanent residents only). To apply, you must complete the Free Application for Federal Student Aid (FAFSA). Private loans are non-federal loans that are offered through lenders such as banks or credit unions. Most private lenders require non-U.S. citizens and permanent residents to apply with a U.S. based co-signer. For more information, you are welcome to contact the NYU Stern Graduate Financial Aid Office or visit their website. 

Please note the following important information:

  • The financial aid payment schedule is based on maximum loan eligibility of both Federal and Private loans. You are not required to apply for the maximum loan amount; you may pay your outstanding balance with a combination of loan disbursement and individual payments. 
  • Please note that financial aid is separate and distinct from the out of pocket payment plans. Financial aid is structured according to a specific timeline. Therefore, if you choose to pursue a full financial aid plan, in which you borrow the full program fee, the out of pocket due dates do not apply. ​If you chose to pursue a partial financial aid plan (as per the above), any out of pocket payments must be paid according to the out of pocket deadlines.
  • IMPORTANT: ​Please contact our Finance Team (execedbilling@stern.nyu.edu) to inform the program you will be pursuing financial aid. Please do this prior to beginning the loan application process. If you do not inform the program, your loan application may not be processed and the financial aid process could be severely delayed. 

Further Information

​Borrowing takes place on a semester basis. There are 4 semesters in total. Each semester is assigned a budget based on the tuition charged in that semester.

 

  • Summer Term 1 - In the first semester of the program you have the option to borrow back your deposit. Please note that you cannot pay the deposit with student loans initially. The deposit must be paid out of pocket. 
  • Fall Term
  • Spring Term
  • Summer Term 2
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Stud​​ents are also eligible to apply for funds for travel (travel budgets are determined by the program team​)​. Travel budgets are determined by the modules that take place within that semester. ​If you live within a reasonable commuting distance of any of the modules, you would be unable to borrow for travel for that particular module. If you are interested in this, please notify the Finance Team at execedbilling@stern.nyu.edu so that you can be provided with additional details.  
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If you are borrowing​ in excess of the semester's tuition (for the deposit or travel), please note that you will be refunded the money 2-4 weeks after the loan disburses in full for that semester. ​We would request that you sign up for direct deposit to make this process more efficient.  Please note that Summer loans typically do not disburse in full until July. Therefore, for summer loan refunds, please keep this timing in mind. 

Federal loans consist of funding provided by the government and are available to U.S. citizens and permanent residents only.

Application Process

 

  • In order to apply you will need to fill out the Free Application for Federal Student Aid (FAFSA). The 2022-2023 FAFSA will cover the Summer 2023 semester, while the 2023-2024 FAFSA will cover all remaining semesters of the program. Please fill out BOTH. If the latter is not yet available, please make a note to fill it out when it becomes available. 
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  • Once the FAFSA is received, the financial aid office can package the loan. ​Once the loan is packaged, you will receive an e-mail to accept the loan. The acceptance prompts the credit check. Once credit approved, the loan will disburse provided that all other necessary steps have been completed. ​Please note that packaging typically occurs according to the below schedule: ​
    • Summer Term 1: April/May
    • Fall Term: July
    • Spring Term: January
    • Summer Term 2: ​April/May​
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Federal Loan Information

 

  • For information regarding origination fees and interest rates for federal loans, please see the NYU Stern Graduate Financial Aid Office's website. Please note that financial aid office will update their site with new fees and interest rate figures as they become available. The current fees and rates apply to loans disbursed for the periods listed on the site. 
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  • ​Please note that there are 2 different types of federal loans that you would be able to borrow. As per the website, the Direct Unsubsidized Loan has a borrowing cap of $10,250/semester (including fees). Therefore, if you borrow beyond the cap, you could borrow with the Direct Graduate PLUS loan for the remaining balance. ​
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  • ​Please note that you will be assigned a loan servicer that will handle repayment. NYU does not administer repayment. ​

Private loans are non-federal loans that are offered through lenders such as banks or credit unions. Most private lenders require non-U.S. citizens and permanent residents to apply with a U.S. based co-signer.

Application Process
In order to apply you will need to submit an application directly through the website of a lender of your choosing. Please note that private loans are packaged on a loan period basis. There are three loan periods in your program:

 

  • Summer Term 1
  • Fall/Spring Term
  • Summer Term 2
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Therefore, you will need to apply a total of THREE times over the course of the program in each loan period for the amount you wish to borrow in each period. Please ensure the following: 

 

  • You apply for the correct amount in the correct loan period 
  • The credit associated with your application does not expire by the time the loan disburses 
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Once approved, your lender will send a request for certification to the school. This request verifies your enrollment in the program as well as your tuition costs. Once the request for certification is received, the financial aid office can certify the loan.  Typically certification occurs according to the following timeline:

 

  • Summer Term 1: April/May
  • Fall Term: July
  • Spring Term: January
  • Summer Term 2: ​April/May​
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Private Loan Information

 

  • For information regarding fees and interest rates for private loans, please visit your lender's website.  The NYU Stern Graduate Financial Aid Office's website provides a non-comprehensive list of private lenders and links to each lender's website.  You are not required to borrow from any of the lenders that appear on the site and there is no penalty for selecting a different lender if you prefer. 
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  • Please contact your lender for information about repayment.
  • Submit your deposit. Once you submit, you will be eligible to participate in student lending. You must submit your deposit out of pocket. 
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  • ​Please let us know how much you are interested in borrowing per semester by e-mailing the finance team at execedbilling@stern.nyu.edu.
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  • Please call (1-212-998-3581) to provide your social security number. Your SSN is required to process your application. 
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  • Please let us know if you are pursuing federal or private lending. 
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    • If you are pursuing federal lending:
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      • Please complete both the 2022-2023 and the 2023-2024 FAFSA.
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      • Please also complete the Master Promissory Note(s) and Entrance Counseling. Please do so online here. 
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        • If you are borrowing BOTH the Unsubsidized and the Graduate PLUS loans, you will need to complete TWO Master Promissory Notes - one for the Unsubsidized loan and one for the Graduate PLUS loan. 
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        • If you borrow​ing ONLY the Unsubsidized loan, please complete ONE Master Promissory Note for the Unsubsidized loan. 
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        • Once you have completed the appropriate MPN(s), please also complete ONE entrance counseling session.
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    • If you are pursuing private lending:
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      • Please complete your application with your lender and let us know which lender you are applying with.  
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      • Please ensure that you apply in the correct loan period for the correct amount. Additionally, please ensure that the credit associated with your application does not expire by the time the loan is ready to disburse.
        • If you apply too early, you may need to apply again as the credit associated with your application may have expired by the time the loan disburses. 
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