If you’re a student living in New York, you’ll want to know about New York University (NYU) costs to budget your living expenses. New York University tuition rates make up the majority of the monthly budget, but there are additional expenses students must consider.
New York University’s living expenses are exorbitant compared to the rest of the country. Students may find it hard to save money in this expensive city. This is why every student with financial needs should apply for New York University financial aid, which includes federal student loans, to help them afford the cost of college.
New York University rankings demonstrate a school with a high-quality curriculum and academic reputation. The US News & World Report highly regards the school’s business, computer science, and nursing programs. While it’s not an official Ivy League school, Newsweek named the university “New Ivy” because of its excellent academics, research, and quality education.
New York University Rankings and Profile
- Accreditation: Middle States Commission on Higher Education
- Acceptance Rate: 13%
- Graduation Rate: 87%
- US News & World Report Ranking: #28
- Times Higher Education Ranking: #26
New York University’s roots trace back to 1831. It is one of the biggest private higher education institutes in the United States. It provides over 400 programs in higher education and is known for its undergraduate and postgraduate degrees in social science, dentistry, nursing, and fine arts. It offers both full-time and part-time programs.
NYU is a global school with campuses in New York, Abu Dhabi, and Shanghai. In New York, NYU’s campus has more than 20 colleges in five locations. Undergraduate and graduate students can study engineering, psychology, business administration, dance, and game design.
How Much Does New York University Cost?
New York University costs $56,500 per year for undergraduate students and $36,206 per year for graduate students regardless of living in state or out of state. Books can cost around $718 per year. Additional services fees and expenses include health insurance, housing, and personal expenses.
New York University Tuition, Fees, and Other Expenses
| Expense | New York University Cost |
|---|---|
| New York University Undergraduate In-State Tuition and Fees | $56,500 |
| New York University Undergraduate Out-of-State Tuition and Fees | $56,500 |
| New York University Graduate In-State Tuition and Fees | $36,206 |
| New York University Graduate Out-of-State Tuition and Fees | $36,206 |
| New York University Books and Supplies | $718 |
The New York University cost of attendance is high. The National Center for Education Statistics(NCES) states the average cost is $37,600 for an education at a private non-profit institution. NYU has several options for prospective students to help pay for costs, such as paying upfront, federal aid, grants, scholarships, loans, and payment plans.
New York University Living Expenses
| Expense | New York University Cost |
|---|---|
| New York University On-Campus Room and Board | $19,682 |
| New York University Off-Campus Room and Board | $19,682 |
The cost of room and board living on-campus is the same as living off-campus. Factors that may affect the prices are the cost of food and preparation and the cost of property and utilities. Of course, depending on your personal expenses and financial obligations, the actual costs may equate to more than the amounts recorded here.
Cost Of Living in New York
New York is one of the most expensive cities to live in globally. According to PayScale, it is 155 percent more expensive to live in New York than anywhere else in the US. The average price of rent in NY is $6,530. This cost is mainly due to the shortage of available homes and land and the demand for housing.
The Big Apple or New York is home to Times Square, the Empire State Building, the Statue of Liberty, and Grand Central Park.
New York University Financial Aid Statistics
The National Center for Education Statistics states that 78 percent of students at NYU receive financial aid. The NCES shows that the total amount of scholarships and grants aid received is $483,061,958. Fifty-eight percent of NYU students received federal grants totaling $17,089,123.
Additionally, 18 percent of NYU students received Pell grants totaling $26,868,352. NYU states that 20 percent of first-year students received Pell grants. It also notes the average amount awarded to first-year students is $37,000. Three thousand students received research scholarships totaling $2.7 million.
Despite the cost of education at NYU, there are ways to alleviate the cost of tuition, and these statistics show that you have a pretty good chance of getting financial aid at NYU, provided you meet the eligibility requirements, which you can find on its website.
Does New York University Accept FAFSA?
Yes, New York University accepts FAFSA. The US Department of Education provides FAFSA or Free Application for Federal Student Aid to help many students in the US afford their educational costs. These come in the form of scholarships and grants.
Scholarships and grants are money awarded to students for the direct expenses of tuition, but some also include institutional charges in fees. They do not have to be paid back, and some will even cover indirect expenses like rent and utilities.
Regardless, applicants must meet certain defined criteria outlined on their website which will show defined terms and conditions. FAFSA is available for residents of the US. While most international students are not eligible, some schools may require international students to apply for FAFSA.
Does New York University Accept GI Bill Benefits?
Yes, New York University accepts GI Bill benefits. The Post 9/11 GI Bill is available to veterans and their spouses that have attended active duty for 90 days minimum post 9/11. It is a financing option provided by the US Department of Veteran Affairs to help pay for veterans’ educational expenses.
Is New York University a Yellow Ribbon School?
Yes, New York University is a Yellow Ribbon school. Yellow Ribbon is a program provided by a condition in the Post-9/11 GI Bill, allowing military dependents to attend expensive private schools at lower, subsidized costs. These may cover some educational costs of attending a private premium school.
New York University Scholarships and Grants
- AnBryce Scholarships. This scholarship is for academically-motivated students with a 3.5 GPA score, demonstrating financial need, and the first generation to attend college. The scholarship may cover the full cost of tuition and may be renewed over four years of undergraduate studies at NYU.
- Breakthrough Scholars Leadership Program. This scholarship through a Stern School of Business program is a full-need scholarship. Students must participate in cohort-based leadership activities and workshops aligned with academic support and extracurricular and professional development resources at NYU.
- Community College Transfer Opportunity Program (CCTOP) Scholarships. Eligible students participating in the CCTOP and transferring from community colleges can apply. It is a need-based scholarship, and students must be nominated by their community’s dean, department chairperson, professor, or transfer counselor.
- POISE Scholars. This scholarship is for Borough of Manhattan Community College students pursuing studies majoring in science, technology, engineering, psychology, and math. The student must participate in various activities and social network opportunities.
- Global Pathways Scholarships. Degree-seeking students whose home campus is NYU and who want to travel overseas can apply for this need-based scholarship of up to $4,000 per semester for the additional costs of studying abroad. Students should already be FAFSA applicants.
New York University Average Net Price by Income
| Family Income | New York University Net Price |
|---|---|
| $0 to $30,000 | $23,476 |
| $30,001 to $48,000 | $24,529 |
| $48,001 to $75,000 | $30,866 |
| $75,001to $110,000 | $39,359 |
| $110,001 and up | $55,962 |
According to NCES, the net price by income for attending NYU varies from $23,476 to $55,962. These cost of attendance estimates can help you work out a budget. However, remember these are estimates, and the amount may change depending on various aspects of your application, so make sure you contact admissions for help.
How to Calculate New York University Cost
Whether you are a prospective full-time or part-time student, the above table can help you figure out an estimated price of attendance at NYU. One of the benefits of attending NYU is that on-campus, off-campus, and commuter students pay the same flat rate for tuition and fees.
You can also work out a personalized cost of attendance with the NYU tuition calculator. It is an excellent tool as NYU’s Stern School of Business and Tisch School of the Arts have different rates for their programs, and this way, you can personalize your estimated price of attendance.
Is the Cost of College Too High?
No, the cost of college isn’t too high if you get a scholarship to pay for college or make an effort to save money. The renowned New York University provides excellent education with respected qualifications in a vibrant city and community. Additionally, NYU has an array of facilities and resources to help its students at school and socially.
The school provides a center intended to enhance the life of students. They have an office of global services that helps international students with immigration matters. They also have an LGBTQ+ center, allowing the NYU LGBTQ+ community to educate and engage with others about the LGBTQ+ community.
New York University Student Debt
- Students Receiving Federal Loans: 28%
- Median Debt After Graduation: $20,500
- Average Monthly Loan Payment: $205
The NCES College Scorecard states that 28 percent of NYU students receive federal loans with a median debt after graduation of $20,500. The average monthly loan repayment is $205. This is well below the national average. According to the Education Data Initiative, the national average student loan debt balance is $37,014 for federal and $40,904 for private loans.
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Students must conduct in-depth research before applying for a loan to pay educational expenses. These loans usually have high-interest rates, and the amount you pay back is considerably more than the initial loan. Also, according to the Education Data Initiative, 52 percent of students that agreed to student loan debt, in the end, did not feel it was worth it.
New York University Tuition Payment Plans
The only tuition payment plan NYU offers through a partnership with Nelnet is a semester-based plan. This allows enrolling students to pay the cost of a semester over four monthly interest-free payments. It is available to all NYU students except those enrolled in the Leonard N. Stern School of Business Executive programs.
New York University Graduate Salaries and Outcomes
According to the school’s website, a New York University graduate’s median salary is $71,128 and includes a signing bonus of approximately $11,976. That is beneficial, considering the US Bureau of Labor Statistics reports that the national average for all occupations is $58,260.
Furthermore, NYU states that within six months of graduating with a bachelor’s degree, 95 percent of students are either working, in graduate school, or both. The top industries hiring NYU graduates are healthcare, information technology, financial services, entertainment and journalism, media, and publishing.
How to Save Money in College
- Buy second-hand textbooks. Buying used books can help save money. New textbooks are a waste if you consider how little you use them. You can also recoup some costs by reselling the books when you have finished using them.
- Use your student ID card for discounts. There are a variety of businesses that offer student discounts. Clothing companies, tech companies, and even restaurants provide discounts to those with valid student ID cards.
- Find Alternative transport. Considering the price of gas, insurance, and parking, owning a car can be expensive. Using public transport or riding a bicycle can save you a considerable amount of money.
- Live off-campus. By living off-campus, you can get a roommate and split the cost of rent to save on your living expenses. This is not possible living on campus as housing rates are set amounts per student. You could even opt for communal living arrangements.
- Get a side gig or work exchange. Having a side gig to earn money will increase your income, and as a result, you can save more. Work exchange is working in a school co-op in exchange for a lower housing rate to save money.
Is New York University Affordable?
Yes, New York University is affordable if you receive financial aid. The list of notable alumni from NYU is equally impressive, boasting names such as Lady Gaga, Alec Baldwin, and Kristen Bell. While NYU is not among the cheapest schools in New York, the university does offer a variety of paid and free courses, including online learning opportunities.
New York University Cost FAQ
The New York University tuition for international students is $6,332 for four credits, $12,664 for eight credits, and $26,885 for 12 to 18 credits. Note that additional fees are not included in these estimates of cost.
Yes, New York University is one of the best schools in New York as it ranks 2nd on US News & World Report’s Best Colleges in New York, following Cornell University. The school also ranks 28th nationally.
Yes, you can study online or in a hybrid format with New York University as it provides several certificates, bachelor’s degrees, and graduate degree programs in these formats. They call it the campus without borders.
The cost of the application fee at New York University is $80. This fee can seem pretty high but New York University is one of the most prestigious universities in New York. Students who cannot afford this fee may request a fee waiver on the Common Application.
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