2012-2013 Financial Aid Application Process
If you have not yet done so, apply now for financial assistance for school year 2012-2013. Students must file the Free Application for Federal Student Aid (FAFSA) or the International Student Scholarship Application in accordance with the Apply for Aid chart. The priority filing deadline for students admitted or readmitted for fall 2012 was March 1, 2012. Please note that students in certain programs are not required to file an application to be considered for institutional financial assistance based on academic achievement, but all U.S. citizens and permanent residents must file FAFSA to be considered for government or institutional need-based grants and loans.
Past Due Balances and Financial Holds Information
Student Financial Services will place a hold on the records of students who have an outstanding balance due of fees. The hold prevents future registration and the release of transcripts and diplomas. Students with holds can view account details and make payment by going online to their accounts at MyNewSchool or in person at the cashiering office located on the lower level at 72 Fifth Avenue. In order to clear a hold, a student must pay the balance in full or enroll in a payment plan. Financial aid counseling available at the cashiering office, and students can still sign up for the university's monthly payment plan up until almost the end of the semester.
Billing and Payment Information
Preregistered continuing students are invoiced for tuition and fees shortly after they register (April for fall, December for spring semester) and must make payment or satisfactory payment arrangements by the deadline specified on the invoice. New incoming students who preregister will be invoiced at the time of registration and must make payment or satisfactory payment arrangements by the Friday prior to the first day of classes. New incoming students in programs that charge a flat-rate tuition and who are not preregistered are sent a pre-bill estimate in advance and must make payment or satisfactory payment arrangements by the Friday prior to the first day of classes. New incoming students in programs that charge tuition per credit and who are not preregistered are required make payment or satisfactory payment arrangements at the point of registration.
Refunds of Payments and Financial Aid in Excess of Charges
Students who may be due a refund of financial aid or payments in excess of their university charges should read the following:
Financial aid funds are scheduled to disburse to the university on the first day of classes for a semester for all students who have met the expected enrollment status and required financial aid criteria. In the case of supplemental and private education loans, the funds have already been disbursed to the university. Federal financial aid and New School provided funds will be applied to students' accounts to reduce the balance due for tuition, fees, and university housing charges (if applicable). Any excess credit will be refunded to the student (or the student's parent, if Parent Plus loan proceeds were received). Refunds will be processed daily, Monday through Friday, beginning the first day of classes for a period of two weeks and then, after the two weeks, on each subsequent Tuesday, Thursday, and Friday. Regulations require the university to process refunds to all eligible students within 14 days of our receipt of the funds. However, we make every effort to process refunds before the deadline.
Students are encouraged to sign up for direct deposit and have their refunds transmitted directly into their U.S. checking or savings account. The process takes only a few minutes to complete. We advise that anyone signing up for direct deposit have a check or bank statement available for reference to ensure that routing and bank account numbers are entered accurately. Students can sign up for this service at MyNewschool. Select the Student tab and, under the Student Financial Services section, use the link that says “sign-up to receive refunds electronically (E-Refund).” If direct deposit is not set up, the New School accounting office will mail a refund check to the student's official mailing address of record. Students can also check and update their mailing addresses at MyNewSchool.
For other refund information, refer to www.newschool.edu/studentservices/financialaid/billing/refunds-for-degree-students/.