New York University (NYU) Tuition and Fees

New York University (NYU) Tuition and Fees

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    By Susan Guillory

    (Last Updated – 06/2022)

    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

    Student Type

    In-State

    Out-State

    Tuition & Fees

    $56,500

    $56,500

    Books & Supplies

    $718

    $718

    Room & Board

    $19,682

    $19,682

    Other Expenses

    $2,846

    $2,846

    Total Cost of Attendance

    $79,746

    $79,746

    Financial Aid

    For the 2019-20 school year, 65% of first-year students received some sort of financial aid or scholarships to help with NYU tuition. New York University strives to ensure that every student who is eligible is accepted, regardless of financial background. The university has recently made an effort to offer financial aid packages that fully meet the financial needs of each first-year student.

    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

    Recommended: The Differences Between Grants, Scholarships, and Loans

    Private Student Loans

    While some students opt for federal student loans to help with tuition at NYU, 3% of NYU students get private student loans, averaging $10,151 in aid each year.

    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

    Curious to know what New York University undergraduate tuition and fees would be for a four-year program? Based on 2021-22 prices, you would pay $318,984. Compare this to the national average for private institutions of $206,760, per CollegeData.com.

    Undergraduate Tuition and Fees

    Costs for 2021-22

    Student Type

    In-State

    Out-State

    Tuition & Fees

    $56,500

    $56,500

    Room & Board

    $19,682

    $19,682

    Total Cost of Attendance

    $76,182

    $76,182

    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

    Student Type

    In-State

    Out-State

    Tuition

    $35,982

    $35,982

    Fees

    $2,224

    $2,224

    Total Cost of Attendance

    $38,206

    $38,206

    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

    Student Type

    In-State

    Out-State

    Books & Supplies

    $718

    $718

    Room & Board

    $19,682

    $19,682

    Other Expenses

    $2,846

    $2,846

    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

    Fall 2020

    Number of applications

    80,210

    Number accepted

    16,844

    Percentage Accepted

    21%

    Admission Requirements

    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.

    Required:

    •  Secondary school record

    •  Secondary school GPA

    •  Recommendations

    •  Formal demonstration of competencies

    Recommended:

    •  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:

    Subject

    25th Percentile

    75th Percentile

    SAT Evidence-Based
    Reading/Writing

    670

    740

    SAT Math

    700

    800

    ACT Composite

    31

    34

    Graduation Rate

    The graduation rate for students at NYU is as follows for those who began their studies in 2014:

    •  4 years: 79%

    •  6 years: 88%

    Post-Graduation Median Earnings

    The average earnings for graduates of four-year schools across the board is $47,891. Compare this to the median earnings of an NYU graduate of $76,040.

    Bottom Line

    With a total cost of $76,182 per year, NYU isn’t the most affordable option for higher education, but what you get for that price tag is access to some of the best courses and professors in the country. And you may qualify for admittance regardless of your financial background: NYU is now offering financial aid packages that fully meet the financial aid of first-year students.

    SoFi private student loans offer competitive interest rates for qualifying borrowers, flexible repayment plans, and no origination fees.

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    Photo credit: iStock/Rebecca Todd
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