The following are the top ten tips that you may find useful as a student.
Apply Early and Every Year.
To be considered for financial aid, most students must complete a financial aid application every year, and submit all requested verification documents to the Office of Student Financial Services within thirty days of the request. Some types of aid, including need-based scholarships, are awarded on a first-come, first-served basis, and may be reduced or canceled if your financial aid file is not complete by the stated deadlines. Academic years start in the fall semester and continue through the summer of the following year, excluding those terms in which you are not enrolled. You may read more about how to start applying for financial aid by clicking on the ‘Apply for Aid’ link. Monitor the status of your financial aid file each year via MyNewSchool.
Keep a Folder of All Applications and Documents.
You should keep copies of all documents and applications you have completed for Student Financial Services, and if you are taking loans, those for your lender and guarantee agency as well. Keep a copy of your award letter and any revised award letters you have received. In addition, make sure to keep copies of your and your parent’s (if applicable) most recent tax forms, in case we need to request additional information before finalizing your aid offer.
Update Your Contact Information.
If you move and do not update your address, we cannot get in touch with you. Students can update their addresses and phone numbers online using MyNewSchool. You should also contact your lender if you have received or are receiving student or parent loans. Also make sure to activate and utilize your university e-mail account. Student Financial Services uses your New School e-mail address to notify you of all pertinent information.
Always Notify Student Financial Services of Any Changes to Your Enrollment.
Your financial aid award is often based on your enrollment in a certain number of tuition credits. You are required to notify the Office of Student Financial Services in writing if you drop a class, add a class, or enroll in a different number of credits than those you indicated on your application. Your financial aid award notice will indicate the enrollment status that the estimated awards are based on. Reconciliation of actual enrollment status generally begins after the drop/add period, so revised award notices will not be produced until well into the semester.
Notify Us If You Are Receiving an Outside Scholarship or Tuition Remission.
Your award requires that you notify us in writing if your employer or another third party is paying your tuition, or if you are receiving a scholarship or assistantship from a source outside of the university. In some cases awards may need to be adjusted, but we maximize scholarship and grant aid if at all possible.
Read Your Terms and Conditions.
Read the terms and conditions of your financial aid as printed on the back of you award letter. Some schools within the university also require your signature on a document that describes the terms and conditions of your program. Note that not all scholarships are renewed for the same amount each year. Contact us if you have any specified questions about your academic program and what is required.
Be Aware of Your Academic Department’s Policies.
Be aware of the policies regarding financial aid in your program of study at The New School. The number of credits needed to maintain full time enrollment status varies from division to division. Some programs allow students to receive a percentage of scholarship if studying less than full time, while others require full time enrollment. Ask Student Financial Services if you are not sure of the specific policies and criteria of the award you are receiving.
In addition, students are expected to maintain Satisfactory Academic Progress (SAP) minimums in order to maintain federal financial aid eligibility. Undergraduates are expected to maintain a Grade Point Average of 2.0 or higher. Graduates are expected to maintain a Grade Point Average of 3.0 or higher.
Utilize MyNewSchool, Your New School E-mail Address, and Other Online Resources
MyNewSchool is the online access point for students to get into class schedules, update information, and access their financial aid and billing information. The Student Financial Services box will allow you to see your financial aid awards, requested documents, view billing information, make payments online, sign up for the payment plan, and authorize others to view your information. Check your account often to insure all your aid has disbursed and that you have satisfied all needed documents. In addition to myNewSchool, our office requires you to activate and utilize your New School E-Mail address since we send important information regarding pertinent financial information to your official university e-mail address. Lastly, use our website. You can use this site to download forms and find important links to other sites, including information on how to research external scholarships.
Be Financially Prepared and Plan Early.
Start looking into funding as soon as possible. You should plan on working summers and between semesters if at all possible. Also, a part-time on campus or off campus job can really help with costs. If you are a parent or an older student with income consider some type of savings plan for college. Many large external grants, especially for graduate school, expect you to start applications a year or more in advance of the school year. It is important to keep or try to build a positive credit report, since credit-sensitive loans may be the option that allows you to study here.
Research, Ask Questions, and Seek Funding.
Ask questions about your options and awards. Student Financial Services is able to explain how your aid has been determined. If you see a grant, scholarship, or assistantship you think you may be eligible for, ask about it. Most awards are covered under your filing of the FAFSA or Undergraduate International Student Scholarship Application by the priority deadline, but there may be an outside scholarship that fits your profile and requires a separate application.
The Financing Solutions Guide (PDF) provides information you need to find a payment and financing strategy that works for you and your family.