US Federal Aid Requirements
US citizens and permanent residents are eligible for federal financial aid at NYU Shanghai. To be considered for federal aid, students must complete the Free Application for Federal Student Aid (FAFSA).
If you have not filed a FAFSA and wish to do so, you can apply via fafsa.gov. You will be asked to identify a school/school code to which you wish to release your data for review. The school code for New York University is 002785, which is what you should enter for consideration for financial aid at NYU Shanghai as well. Use of the Data Retrieval Tool is preferred whenever possible.
Types of Federal Financial Aid
If you submit a FAFSA you may be eligible for the Federal Pell Grant and Federal Direct Loans. You may choose to accept or decline the Federal Direct Loans that are offered to you. More information about interest rates and other loan details will be provided via your To Do List on NYU Albert, and you can visit here for more information. Students cannot take out more financial aid than the total they are offered (i.e. scholarship and/or Pell Grant) minus the cost of attendance.
In most cases, scholarships will not affect federal financial aid awards and, if eligible, federal aid will be in addition to the scholarship amount.
While you can apply during the academic year, if funding is necessary, you are encouraged to file as early as possible but no later than two weeks before the end of your final semester for the academic year. If you have already completed the FAFSA for the upcoming academic year, the Office of Financial Aid has reviewed your application for additional eligibility.
To be considered for federal financial aid annually as well as to renew any need-based grant aid, you will need to complete the form each year. Typically you will continue to receive for subsequent academic years the same amount of scholarship/grant you received for your first year (subject to the availability of funds), as long as the following criteria are met:
- You are a full-time student (12 credits or more per semester).
- You applied for financial aid on time (typically May 1).
- You are meeting the Satisfactory Academic Progress standards.
- You have approximately the same amount of financial need that you had in prior years.
If you have questions or concerns regarding financial support, please contact one of our expert financial aid counselors at email@example.com.