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  • Federal Direct Loans are loans offered to eligible students by the U.S. Department of Education. The amount students can borrow depends on whether they are dependent undergraduates, independent undergraduates, or graduate students.

    Subsidized loans may be awarded to undergraduate students with financial need, as determined on the basis of the Free Application for Federal Student Aid (FAFSA). The federal government pays the interest on subsidized loans for students while they are enrolled in school at least half-time.

    Unsubsidized loans begin accruing interest upon disbursement. For more information on the difference between subsidized and unsubsidized federal loans, visit studentaid.ed.gov or speak with a financial aid counselor.

    We encourage you to learn about the student loan default rate.

    The 2019-2020 undergraduate interest rate for both is 5.05 percent. Based on the most recent available data, the average loan amount for all undergraduate students at The New School is $6,657 for the 2018-2019 academic year. Of all undergraduate students (including freshmen) at The New School, 31 percent use federal student loans to help pay for their university education.

    Please review Time Limitation on Direct Subsidized Loan Eligibility for First-Time Borrowers.

    Direct Stafford Loan Annual and Aggregate Loan Limits

    Year of Study*Dependent Student AmountIndependent Student Amount
    First year (0–29 credits)$5,500 (max. $3,500 sub.)$9,500 (max. $3,500 sub.)
    Second year (30–59 credits)$6,500 (max. $4,500 sub.)$10,500 (max. $4,500 sub.)
    Third year and beyond (60+ credits)$7,500 (max. $5,500 sub.)$12,500 (max. $5,500 sub.)
    Aggregate Total Loan Amount$31,000 (max. $23,000 sub.)$57,500 (max. $23,000 sub.)

    *Year-of-study credit level is based on enrollment in an undergraduate degree program. Tiered eligibility differs for undergraduate diploma.

    Applying for a Direct Loan

    First, submit your FAFSA. Once your FAFSA is processed, your loan offer will appear on your financial aid award letter. The amount undergraduate students can borrow depends on whether they are dependent or independent and on how many credits they have earned toward their degree. Graduate students can borrow up to $20,500 in Federal Direct Loans each academic year, depending on their remaining eligibility.

    Review Your Unmet Requirements

    You can view your requirements and accept or decline the full amount or a partial amount of your loan offer in your MyNewSchool account.

    Accepting certain forms of aid, such as Federal Direct Loans, requires applicants to take additional steps, such as completing entrance counseling and signing a Master Promissory Note on studentloans.gov.


  • Take The Next Step

Submit your application

Undergraduates

To apply to any of our undergraduate programs (except the Bachelor's Program for Adults and Transfer Students and Parsons Associate of Applied Science programs) complete and submit the Common App online.

Undergraduate Adult Learners

To apply to any of our Bachelor's Program for Adults and Transfer Students and Parsons Associate of Applied Science programs, complete and submit the New School Online Application.

Graduates

To apply to any of our Master's, Doctoral, Professional Studies Diploma, and Graduate Certificate programs, complete and submit the New School Online Application.

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