Alumni    News    Calendar    Social Media    Laureate Network    MyNSAD    Faculty    Contact Us   

Financial Aid


 

NewSchool of Architecture and Design helps students apply and determine eligibility for various types of financial aid to assist with the cost of items such as tuition, books, meals, and housing. This includes federal and state grant eligibility. However, as an institution, NSAD values the commitment a student makes with current and future earnings to education and includes self-help opportunities through loans and work as part of a financial aid package. 

View the NewSchool of Architecture and Design Financial Aid Code of Conduct.

During the U.S. federal government shutdown, you should see limited, if any, interruption in your federal student aid application (FAFSA) process and federal aid disbursement, such as Pell Grants and Direct Loans. This could change depending on the length of the shutdown. We will keep you updated as we receive new information, or you can monitor the situation on http://www.studentaid.ed.gov/. We are here to help you.

New Federal Student Loan Interest Rates
The Bipartisan Student Loan Certainty Act ties the interest rate for federal student loans to the yield on the U.S. Treasury 10-year borrowing rate. The Act, which affects federal student loans that are first disbursed on or after July 1, 2013, establishes a cap for the maximum interest that can be charged for federal student loans.

Undergraduate Students

  • The interest rate for subsidized and unsubsidized Stafford Loans as of July 1, 2013 through June 30, 2014 is 3.86% with a rate cap of 8.25%
  • The interest rate for a PLUS Loan is 6.41% with rate cap of 10.5%

Graduate Students

  • The interest rate for an unsubsidized Stafford Loan as of July 1, 2013 through June 30, 2014 is 5.41% with a rate cap of 9.5%
  • The interest rate for a PLUS Loan is 6.41% with rate cap of 10.5%

NSAD is approved by the U.S. Department of Education to participate in the following federal Title IV programs:

Federal Pell Grant

Federal Pell grants are awarded to undergraduate students who have not earned a bachelorís or professional degree. Because they are grants, students are not responsible for repayment. Eligibility is determined according to need, the cost of attendance, and the amount of money appropriated by Congress to fund the program. 

Federal Supplemental Educational Opportunity Grant (FSEOG)

The FSEOG is available to students with exceptional financial need and a low expected family contribution. Because this is a grant, students are not responsible for repayment. The amount of the grant and the number of students who may receive it depend on the availability of funds from the U.S. Department of Education.

William D. Ford Federal Direct Loans

William D. Ford Federal Direct Loans are another source of federal student aid. Loans may be obtained from the William D. Ford Federal Direct Loan Program funded by the U.S. Department of Education. Loans obtained through this program are low interest rate loans that are insured by guarantee agencies or the U.S. Department of Education. Federal student loans are required by law to provide a range of flexible repayment options, including, but not limited to, income-based repayment and income-contingent repayment plans, and loan forgiveness benefits, which other student loans are not required to provide. Federal Direct Loans are available to students regardless of income. A student can apply for Federal Direct Loans through the school's financial aid department.

Student eligibility must be determined using the results of the FAFSA and a student must be enrolled in an approved program at least part-time to participate in Federal Title IV programs. The loan must be used to pay for direct and/or indirect educational expenses.

Federal Subsidized Stafford Loan

The Subsidized Stafford Loan does not charge the borrower with interest on the amount borrowed while in school and for six months after leaving school. During these periods, interest is paid to the lender by the U.S. government. 

Federal Unsubsidized Stafford Loan

The Federal Unsubsidized Stafford Loan allows students to borrow a Federal Stafford Loan even if they did not demonstrate sufficient financial need for the subsidized version. The same terms and conditions as the Subsidized Stafford Loan apply except that the borrower is responsible for interest that accrues while she/he is in school and after leaving school.

Federal Parent PLUS Loan

The Federal Parent PLUS loan is available to parents of dependent students to help pay their childís educational expenses. PLUS loans are not based on need. They can be combined with other financial aid resources and cannot exceed the studentís cost of education.

Federal Graduate PLUS Loan

The Graduate PLUS Loan is available to graduate students to assist with educational expenses. PLUS loans are not based on need. They can be combined with other financial aid resources and cannot exceed the studentís cost of education.

Alternative (Private) Loans

Students who have exhausted their federal financial aid and who require additional assistance may apply for alternative (private) loans from lending institutions. Please click here to explore alternative or private loans or see the financial aid office for additional information.

Request Info
 
Apply Now