New York University (NYU): Tuition and Fees

Founded in 1831, NYU is regarded as a prestigious university that attracts students from around the globe. It is counted among the top universities in the world. Today it offers splendid online degrees for arts, business, science, and many more courses.

In the present time, education has become a costly affair. So, if you are planning to pursue your higher studies at NYU, you must know how much NYU Tuition will cost. The NYU Tuition Room and Board are very expensive. But the good news is that there are many financial aids available to the students. To reduce the NYU Cost of Attendance, students can also apply for FAFSA.

In this article, you will get to know how much it costs to go to NYU and all the NYU financial aid available to students.

How Much Does It Cost To Go To NYU?

NYU Tuition is estimated to be around $56,500. This figure includes both fees and tuition. Here you need to note that fees differ as per institution and may consist of the gym facility, library services, campus health services, and tech resources.

While comparing the cost of universities, you should always compare the net cost and the total cost. The total price is the tuition and fees plus the cost of NYU room and board, personal expenses, book supplies, and transportation charges. At the same time, the net cost is the average cost that students pay after deducting all the aid and scholarships from the total cost.

Now let’s look at How much does it cost to go to NYU from some actual data.

• NYU Cost of Attendance

NYU Tuition is not the only price students need to pay. There are many different expenses like NYU room and board costs, book supplies, and personal expenses that are included in the NYU Cost of Attendance. Per year tuition fee is $54,800, NYU room and board is $19,244, and book supplies and other expenses sum up to around &718 and $2624, respectively. All these expenses are multiplied by 4 to get the actual cost of getting a degree from NYU.

Different Expenses	Out-State	In-State
Tuition and fees	54,800	54,800
Room and board	19,244	19,244
Books and other supplies	718	718
Other expenses	2,624	2,624
Total NYU Cost of Attendance	77,466	77,466

• Avg net price as per the family income

The net price varies according to the family’s financial status because lower-income salaried people get more financial aid. Lower-income families need to apply for a financial loan through FAFSA to get this benefit.

Family Income	Average net price
$110,000 +	$55,558
$75,001-$110,000	$42,581
$48,001-$75,000	$35,511
$30,001-$48,000	$26,366
$0-$30,000	$25,964

• NYU Room and Board Expenses

The cost of NYU room and board is equal for both on-campus and off-campus. When you look closely, NYU Tuition, Room, and Board prices sum up to be hefty. As the cost of room and board is the same, most students choose to stay in-campus because they get a better chance to socialize with other students.

Room and Board Expenses	Off-Campus	In-Campus
Room and board	$19,682	$19,682
Book and other supplies	$2,624	$2,624
Other expenses	$718	$718

NYU Financial Aids Available to Students

It is clear from the above data that students need to pay a hefty amount of money to study at NYU. Many students are not financially sound enough to bear the expenses independently. Therefore, they need financial help to pay for their studies. The financial aids help the students pay for the gap between what they can afford and the NYU Cost of Attendance.

Let’s look at how many students get NYU Financial Aid. Aid available to students for NYU Tuition is of three types. They are

• Student loans.
• Merit-based scholarships.
• Need-based grants.

Overview of student loans

About 42% of students of NYU take loan to pay for NYU Tuition Room and Board. Though taking a loan is not considered an ideal option for students. Most students want to graduate without taking any loan from any financial body. 

It is prevalent among U.S. graduate students to get a degree while having some debt. Therefore, students generally prefer taking federal loans instead of private loans because federal loans have a lower interest rate. Moreover, in some cases, there are chances of subsidization and loan forgiveness. 

Students consider taking private loans as their last option to pay their NYU Tuition expenses. However, they are the least preferred NYU Financial Aid. Since the cost of NYU Tuition, Room, and Board are high, students need to pay an even higher interest rate by taking a private loan. It is estimated that only 3 % of students opt for a personal loan.

Scholarships and Grants

They are the most preferred NYU Financial Aid for students. Students who receive grants and scholarships don’t need to pay back the money after graduation. Many students focus on getting more money in the form of grants because it only benefits them in the long run by making them financially sound. About 48 % of the students of NYU get some kind of grant to pay for their NYU Tuition and fees.

How Expensive Is NYU?

Studying at NYU requires a lot of money. However, the amount that you pay varies year-wise. This variation in amount happens due to the tuition and fees in different years of a particular course. In addition, book supply, stationery charges, and many other charges keep changing. So if you want to know how expensive is NYU, you must know it is costly, but students have great options for financial aid.

NYU Tuition As Compared to Other Universities

Compared to various other public colleges, NYU stands as the most expensive one. As per the report of the College Board, the average school budget of an in-state college was estimated at $26,820 for the year 2020-2021. This figure includes tuition and fees, book supplies, room and board, transportation, and other personal expenses.

When you look at the figure of how much it costs to go to NYU, you will realize that NYU charges a lot more than other colleges charge. This is because NYU offers a wide array of courses and an incredible campus with all the essential facilities. Students who graduate from NYU have a great future ahead of them.

This is the reason why so many students around the world tirelessly compete despite knowing how expensive is NYU.

Is It Wise To Spend For NYU Education?

Even though studying at NYU is an expensive affair, researchers suggest that it is a wise investment. This is because almost all the students who graduate from NYU earn a job with handsome salaries. As per the 2020 college salary report by PayScale, the average salary of a four-year graduate degree student was around $55,600. This figure further increased to $77,900 in their mid-career.

This shift keeps increasing in the long run. Thus, students eventually earn a lot more than they pay to get a degree from NYU. That is why “how expensive is NYU” is not a matter of concern for applicants.

NYU During COVID-19

Many schools and colleges are still operating in the online mode. Still, NYU has opened its gates to students and faculty members. However, all the students are not attending the on-campus classes. Some classes are still conducted virtually as per the need of the course. It is reported that despite the pandemic, enrollment in NYU has increased over time. 

Students who live in states where travel has been restricted due to COVID-19 get the option of Go Local. With this option, NYU allows the student to take in-person classes at another location of NYU. The university has also canceled all the non-essential international tours as per the U.S. Center for Disease Control (CDC) recommendations and also asked students to go for a 14-day quarantine following an international tour.

What Does It Cost To Attend NYU?

Every applicant has a different financial condition. Depending upon the family income, applicants need to pay less or more to graduate from NYU. Students need to pay the net price. The net cost is calculated by deducting the scholarship or loan amount from the total price. The net price is inversely proportional to the scholarship or loan amount. The higher the loan amount, the lesser amount students need to pay. 

Frequently asked questions 

1. What are the different financial aid available for NYU students? 

Ans:  Aid available to students for NYU Tuition is of three types. They are student loans, merit-based scholarships, and need-based grants. 

2. What are the average room and board expenses for NYU? 

Ans:  On average Off campus/In campus expenses would be around $ 23,000  

3. What is the average scholarship amount awarded to students? 

Ans: Reports claim that the average scholarship amount awarded to first-year students is closer to $37,000. 

4. Is NYU tuition expensive? 

Ans: New York University is one of the most expensive colleges in the world and it costs around $76,614 to go to NYU. But students get different financial aids like student loans, merit-based scholarships, and need-based grants.