Principles and Procedures Governing University Financial Aid
Financial Aid Adopted May 15, 1985
Revised May 12, 1993
Principles Regarding Student Recruitment and Access
- The primary purpose of financial aid at The New School is to
promote educational opportunity and to provide assistance to those
students admitted to the university who would be unable to attend The
New School without the availability of such assistance.
New School adheres to a need-blind admissions policy. Students are
admitted based on their academic ability, rather than their ability to
- Prospective and current students should be counseled
and advised about available financial aid. Every effort should be made
to enable every admitted student to attend, using a combination of
outreach, information dissemination, and professional assistance.
The New School is committed to a policy of equal opportunity in the
administration of financial aid. It does not discriminate against
applicants on the basis of race, color, national origin, religion,
gender, sexual orientation, age, physical handicap, or marital status.
The New School is committed to providing opportunities for equal access
to higher education for qualified current and prospective students from
under represented groups. In seeking a more diverse student body, The
New School seeks to improve access to higher education and to abolish
barriers to equality of opportunity that may have existed in the past.
All matriculated students of the same status (full time, part time,
graduate, undergraduate) should have the opportunity to apply for and
be reviewed for financial aid resources available at the university.
Within that context, each division must establish and publish policies
about specific enrollment and eligibility criteria, including federal
and state guidelines.
Principles Affecting the Awarding of Financial Aid to Students
- Students and their families share the responsibility of
providing the maximum contribution toward the cost of the student's
education, recognizing that financial aid is meant to supplement, not
supplant, the family's and student's contribution.
- Institutional financial aid awards should be made on the basis of combined need and merit.
The determination of need should be the primary responsibility of the
financial aid administrators in each school in accordance with federal
policies, procedures and formulae.
- Renewal of aid must be
contingent upon satisfactory academic progress towards the student's
educational goal as defined by institutional policies and by federal
and state regulations.
- Given no change in the student's
financial or other circumstances, The New School is committed to
renewing financial aid awards. The amount of the initial award will
serve as a minimum in subsequent years, to be adjusted as possible, for
tuition increases. Exceptions will be determined within the academic
division on the basis of criteria established by the faculty.
(Compliance with stated procedures for applying and reapplying for
financial aid will be required for renewal of awards.)
responsibility for the allocation of financial aid and the assessment
of need and merit rests primarily with each academic division. Each
division must have established and published guidelines, consistent
with university policy and federal regulations, for its packaging
policies and procedures. The guidelines in each academic division may
include standards for merit and special needs that the division may
have for students with specific skills and backgrounds.
faculty within a particular school bears the primary responsibility for
defining and determining academic and other areas of merit. In making
the judgment with respect to merit, the faculty should not be
influenced by the amount of need that the student has demonstrated.
Academic divisions may offer several top merit awards, such as prize
fellowships. These awards are established to attract the very best
students who provide academic, artistic and other kinds of leadership
for the institution as a whole.
Principles Regarding Allocation of University Resources
- The effectiveness of financial aid is directly related to
the cost of tuition and other expenses. Therefore, tuition increases
and financial aid improvements should always be linked in discussions
concerning future budgetary appropriations.
- The university
should formulate a long-range plan to increase the amount of tuition
and fees it returns to students at each of its schools in the form of
University financial aid.
- The university financial aid
budget should, at a minimum, increase at the same rate as tuition,
taking into account adjustments for enrollment variations.
- The university should encourage and help support enrollment initiatives which may call for additional financial aid resources.
- The university should emphasize scholarship funds as a priority in any fund raising efforts.
Financial aid funds, which are restricted for particular purposes shall
be applied according to the agreement between the donor and The New
- The university should be committed to identifying
external sources of assistance for its students, including
opportunities for students to work off campus through internship
programs and other employment arrangements.
- The university
should make every reasonable effort to provide on-campus employment
opportunities over and above work opportunities provided through the
College Work Study Program.