Loans

NYUS participates in the Federal Student Loan Program, which helps students and their parents borrow funds to cover educational expenses. Unlike grants or scholarships, student loans must be repaid with interest.

Key Features of Federal Student Loans:

Low Interest Rates – More affordable than private loans.

Flexible Repayment Options – Multiple plans are available to fit your financial situation.

Borrower Benefits – Options such as deferment, forbearance, and loan forgiveness for eligible programs.

Parent PLUS Loans – Available for parents of dependent undergraduate students.

Educational loans provide an important way to invest in your future, offering support today with repayment options designed for long-term success.

NYUS participates in the Federal Direct Student Loan Program, a U.S. Department of Education initiative offering low-interest loans to eligible students and parents.

Available to parents of dependent undergraduate students, as well as graduate and professional students.

Unsubsidized loan – interest accrues during study and deferment.

Requires a credit check.

Repayment begins 60 days after disbursement.

Interest rates vary yearly (set by the U.S. Department of Education).

Are low interest loans for both undergraduate and graduate students with financial need. Repayment begins 9 months after a student graduates or is no longer enrolled at least half time. The interest rate on a Federal Perkins Loan is 5%. Award amounts vary depending upon the availability of funds at the institution.

For undergraduate students with financial need.

The government pays the interest while the student is enrolled at least half-time.

Repayment starts 6 months after graduation or when the student drops below half-time enrollment.

Annual borrowing limits depend on year of study (e.g., $3,500 for first-year students).

For both undergraduate and graduate students.

Not based on financial need – all students are eligible.

Interest accrues from the time the loan is disbursed.

Repayment starts after graduation, with options for deferment and grace periods.

Higher borrowing limits than subsidized loans (up to $20,500 annually for graduate students).

The Federal Work Study Program provides part-time employment to undergraduate students with financial need, helping them cover the cost of post-secondary education.

Students typically work 15–20 hours per week.

A portion of the program may include community service opportunities.

NYUS provides part-time job placements for students who qualify.