Total Cost of Attendance
New York University, commonly referred to as NYU, is known for being a leader in global education. With campuses in Abu Dhabi and Shanghai, as well as study sites around the world, NYU provides ample opportunities for students to study abroad. NYU tuition, at $56,500 per year for the 2021-22 school year, is higher than the national average of $35,807.
Costs for 2021-22
Recommended: New York Student Loan & Scholarship Information
Generally, financial aid is monetary assistance awarded to students based on personal need and merit. Students that qualify for financial aid can use it to pay for college costs like tuition, books, and living expenses.
The federal government is the largest provider of student financial aid. However, aid can also be given by state governments, colleges and universities, private companies, and nonprofits. The different types include:
- Scholarships: These can be awarded by schools and other organizations based on students’ academic excellence, athletic achievement, community involvement, job experience, field of study, and financial need.
- Grants: Generally based on financial need, these can come from federal, state, private, and non-profit organizations.
- Work-study: This federal program provides qualifying students with part-time employment to earn money for expenses while in school.
- Federal student loans: This is money borrowed directly from the U.S. Department of Education. It comes with fixed interest rates that are typically lower than private loans.
Colleges, universities, and state agencies use the Free Application for Federal Student Aid (FAFSA) to determine financial aid eligibility. The FAFSA can be completed online, but note that state and federal and school deadlines may differ.
You can find other financial aid opportunities on databases such as:
- US Department of Education – Search for grants from colleges and universities by state
- College Scholarship Service Profile (CSS) – A global college scholarship application used by select institutions to award financial aid
Private Student Loans
Private loans are funded by private organizations such as banks, online lenders, credit unions, some schools, and state-based or state-affiliated organizations. While Federal student loans have interest rates that are regulated by Congress, private lenders follow a different set of regulations so their qualifications and interest rates can vary widely.
What’s more, private loans have variable or fixed interest rates that may be higher than federal loan interest rates, which are always fixed. Private lenders may (but don’t always) require you to make payments on your loans while you are still in school, compared to federal student loans which you don’t have to start paying back until after you graduate, leave school, or change your enrollment status to less than half-time.
Private loans don’t have a specific application window and can be applied for on an as-needed basis. However, if you think you may need to take out a private loan, it’s a good idea to submit your FAFSA first to see what federal aid you may qualify for as it generally may have better rates and terms.
If you’ve missed the FAFSA deadline or you’re struggling to pay for school throughout the year, private loans can potentially help you make your payments. Just keep in mind that you will need enough lead time for your loan to process and for your lender to send money to your school.
Recommended: Guide to Private Student Loans
Projected 4-Year-Degree Price
Undergraduate Tuition and Fees
Costs for 2021-22
NYU students paid approximately $56,500 for tuition in the 2021-22 school year, as well as $19,682 for room and board. This makes their total costs for one year of school $76,182.
NYU tuition and room and board are much higher than the average for private schools in the U.S. of $51,690. A large number of students take out undergrad loans to help with these costs.
Graduate Tuition and Fees
Costs for 2021-22
New York University also offers graduate programs. Graduate tuition at NYU was $35,982 for the 2021-22 school year, and additional fees were $2,224. Many students take out graduate loans to aid with these expenses.
Cost per Credit Hour
For students who don’t opt to go to NYU full time, they can pay for tuition on a per-unit basis. In 2020-21, the fee was $1,947 per credit, plus fees.
Campus Housing Expenses
Costs for 2021-22
NYU has 23 residence halls, many of which are in Greenwich Village. And while students aren’t required to live in a residence hall, more than 11,000 students choose to.
New York University doesn’t offer off-campus housing, though some students opt to find their own accommodations. Currently, a studio apartment in Greenwich Village averages $2,770 per month.
It’s important to budget for room and board in addition to NYU tuition. Student loans can cover these costs, too.
NYU Acceptance Rate
Now that you know the NYU acceptance rate, let’s talk about the requirements to be admitted to NYU. While there is no published required GPA, the average GPA is 3.7, according to CleverHarvey.com, an educational platform. NYU looks at your complete application, including test scores, though it currently is waiving the requirement for test scores.
- Secondary school record
- Secondary school GPA
- Formal demonstration of competencies
- Secondary school rank
The deadline to apply for Early Decision I is November 1, and NYU will make a decision on your application by December 15. For Early Decision II, the deadline is January 1, with a decision by February 15. The deadline for Regular Decision is January 5. You can start your application to NYU here. And find student loan and scholarship information here.
SAT and ACT Scores
Because of the COVID-19 pandemic, New York University is currently not requiring students to submit SAT or ACT scores, though it is an option to do so.
Here are the average scores for NYU students by subject at the 25th and 75th percentile:
Popular Majors at NYU
NYU offers more than 270 areas of study, and draws students in with the diverse subjects they can focus on.
1. Liberal Arts and Sciences/Liberal Studies
Undergraduate degrees in 2020-21: 579
2. Registered Nursing/Registered Nurse
Undergraduate degrees in 2020-21: 455
3. Business/Commerce, General
Undergraduate degrees in 2020-21: 402
4. Econometrics and Quantitative Economics
Undergraduate degrees in 2020-21: 369
5. Computer and Information Sciences, General
Undergraduate degrees in 2020-21: 364
6. Research and Experimental Psychology, Other
Undergraduate degrees in 2020-21: 350
7. Cinematography and Film/Video Production
Undergraduate degrees in 2020-21: 337
8. Drama and Dramatics/Theatre Arts, General
Undergraduate degrees in 2020-21: 291
9. Digital Communication and Media/Multimedia
Undergraduate degrees in 2020-21: 314
10. Management Science
Undergraduate degrees in 2020-21: 169
This resource can help you learn more about the different majors at NYU.
- 4 years: 79%
- 6 years: 88%
Post-Graduation Median Earnings
SoFi Loan Products
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SoFi Private Student Loans
Please borrow responsibly. SoFi Private Student Loans are not a substitute for federal loans, grants, and work-study programs. You should exhaust all your federal student aid options before you consider any private loans, including ours. Read our FAQs. SoFi Private Student Loans are subject to program terms and restrictions, and applicants must meet SoFi’s eligibility and underwriting requirements. See SoFi for more information. To view payment examples, click here. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change. SoFi Lending Corp. and its lending products are not endorsed by or directly affiliated with any college or university unless otherwise disclosed.
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Featured Image Credit: New York University, New York.