https://studentaid.gov/plus-app/grad/landing
Apply for a PLUS Loan for Graduate or Professional Students
- request a Direct PLUS Loan;
- change the amount of a Direct PLUS Loan you previously requested; and
- authorize how the school may use your Direct PLUS Loan funds to pay for educational expenses.
The information that you provide will be sent to the school that you select. The school you select will use the information collected to determine your eligibility for a Direct PLUS Loan as a graduate or professional student and process your application.
Learn more about grad PLUS loans.
- If you have placed a security freeze on your credit file , you must lift or remove the freeze at each credit bureau before you continue. Your application will not be processed if you have a security freeze on your credit file.
- To qualify for a Direct PLUS Loan, you must not have an adverse credit history. If the credit check shows that you have an adverse credit history, we will explain how you may still be able to qualify for a Direct PLUS loan.
- The Direct PLUS Loan MPN explains all of the terms and conditions of Direct PLUS Loans and is your legally binding agreement to repay all Direct PLUS Loans you receive under the Direct PLUS Loan MPN.
- If you have not previously completed a Direct PLUS Loan MPN, you will have an opportunity to do so after you complete this Direct PLUS Loan application.
If you have any questions, please contact Financial Aid Office.
Anna Skutelnikova
Director of Financial Aid
New York Academy of Art
111 Franklin Street
New York, NY 10013
(212)842-5128
fa@nyaa.edu
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Applying for Financial Aid
Federal Application Requirements and Procedures
Students (not international students) who wish to apply for Student Loans and Federal Work Study Program are required to complete the Free Application for Federal Student Aid (FAFSA). The college code for New York Academy of Art is 026001. The FAFSA is available online at studentaid.gov.
MFA and CFA students are considered independent for federal student aid purposes.
Requirements for Federal Student Aid
- Must be accepted into a New York Academy of Art MFA or CFA program.
- Must have a high school diploma or its recognized equivalent.
- Must be making satisfactory academic progress toward their degree.
- Must be enrolled at least half-time (six credits) to receive aid from Federal Direct Loan programs (unsubsidized, or PLUS).
- Must not be incarcerated.
- Must not be in default on a prior federal student loan.
- Must be a U.S. citizen or permanent resident or other eligible noncitizen.
- Must have a Social Security number.
If you intend on taking Federal Loans you will need to complete an Entrance Interview and a Master Promissory Note.
Complete the online Loan Entrance Interview- An Entrance Interview is a counseling session which is designed to help you better understand your obligation as a borrower and provides other useful information on the loan process. The Entrance Interviews are required. Please go to https://studentaid.gov/ website to complete your Entrance Interview.
Complete the online Master Promissory Note(s) – MPN (there is one promissory note for the Stafford loans and a separate promissory note for Graduate Plus). You can complete the MPN online at the https://studentaid.gov/ website. The MPN is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the Department of Education. It also explains the terms and conditions of your loan(s).
Please note that all Direct Plus Loan borrowers are subject to a credit check. Direct Plus Loan borrowers must have an acceptable credit history or an endorser (someone who agrees to repay the loan if you do not pay it) with an acceptable credit history.
Please email the Office of Financial Aid fa@nyaa.edu in case of any questions.
Loans
Academy students may apply for both Federal Stafford loans (Unsubsidized loans) & Graduate Plus Loans. Our direct lending code is G26001.
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| Federal Direct Student Loan (Unsubsidized Staffort Loan) | Amount: Up to $20,500/year | File FAFSA*, complete Master Promissory Note (MPN) and Entrance Loan Counseling. | ||
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| Federal Direct Graduate PLUS Loan |
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Entrance and Exit Counseling
Entrance and Exit Counseling
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Entrance Interview
Exit Interview
During your last semester before graduation, you will need to complete the Exit Interview. https://studentaid.gov/exit-counseling/
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Federal Work Study
Federal Work-Study (FWS) is a federally funded program by both the Department of Education and the New York Academy of Art. This program provides part-time jobs for eligible MFA and CFA students with significant financial need and is administered by an FWS Administrator, the FWS Committee and the Office of Financial Aid, in accordance with the law, federal regulations, and with instructions from the United States Department of Education. The program is open to students with US citizenship or US permanent resident status. Please email fa@nyaa.edu with questions about eligibility.
To review 2024-25 FWS Handbook please click on the link below.
https://nyaa.edu/wp-content/uploads/2024/09/NYAA-2024-2025_FWS_Handbook.pdf
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Forms
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International Student Loans
The following list of resources is provided to assist international students in their loan research. Loans for international students require a US citizen co-signor. Please consult with your financial advisor for advice on private loans.
- internationalstudentloan.com provides general information about international student loans as well as the list of available private loan services.
- salliemae.com
- collegeavestudentloans.com
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Veteran's Benefits & Post 9/11 "GI Bill®"
“GI Bill®” is a registered trademark of the U.S. Department of Veterans Affairs (VA).
Various Department of Veterans Affairs (VA) programs provide educational benefits for spouses, sons, and daughters of deceased or permanently disabled veterans, as well as for veterans and in-service personnel, subject to certain restrictions. Students eligible to receive VA benefits do not pay tuition and fees at the time of registration, but will have anticipated aid placed onto the student account based on the estimated amount of coverage from the VA. This applies primarily to Chapter 31 and 33 benefit recipients. Veterans with service-connected disabilities may qualify for educational benefits under Chapter 31.
Basic Allowance for Housing (BAH) is usually sent directly to veterans by the VA. Students must be enrolled full-time to receive the full monthly BAH rate. Veterans and eligible dependents should contact the Registrar’s Office each term for which they desire certification of enrollment. Students eligible for BAH will only receive this benefit if their enrollment is certified with the VA each term. All veterans are expected to reach the objective (degree or certificate) authorized by the VA with the minimum number of points required. The Department of Veterans Affairs may not authorize allowance payments for points that are in excess of scholastic requirements. Applications and further information may be obtained from the student’s regional office of the Department of Veterans Affairs. Additional inquiries can be directed to the Director of Financial Aid fa@nyaa.edu. Since interpretation of regulations governing veterans’ benefits is subject to change, veterans should keep in touch with the Department of Veterans Affairs.
Important Benefit Information
- Veterans can apply for VA benefits online.
- Since interpretation of regulations governing veterans’ benefits is subject to change, veterans should refer regularly to the VA website at va.gov.
- After acceptance to the Academy, complete the paperwork through the VA. A Certificate of Eligibility Letter (COE) will be mailed to the student, indicating the chapter and eligible benefit(s). Chapter 31 veterans will receive an Authorization & Certification of Entrance or Reentrance into Rehabilitation & Certification of Status (22-1905).
- Upon receipt of your Certificate of Eligibility (COE) from VA, submit it to Director of Financial Aid fa@nyaa.edu. If you do not yet have a COE, attach a screenshot of your benefit information from the VA eBenefits website to the form, but you will still be required to send the COE to the Director of Financial Aid once you receive it.
- After registering for classes each term, notify the Director of Financial Aid that they need to certify your enrollment. Please be sure to redact your SSN on any attachment(s).
- More information about education benefits offered by VA is available at the official U.S. government website at benefits.va.gov/gibill.
Delayed Payments
The Academy recognizes there are times when veterans who rely on monetary benefits from the Department of Veteran’s Affairs and/or other external agencies are challenged by untimely payments. If you are an student who is a veteran or military connected student who is in such a situation, please contact the Financial Aid Office fa@nyaa.edu. The Academy will not impose any penalty, including the assessment of late fees, the denial of access to classes, libraries, or other institutional facilities, or to require that a covered individual borrow additional funds due to the individual’s inability to meet his or her financial obligations to the institution due to the delayed disbursement funding from the Department of Veterans Affairs. The Academy does not consider the following scenarios as a delayed payment:
- If we receive confirmation from the VA that the student is no longer eligible to receive the funds or have exhausted their eligibility (after submission of certification to the VA).
- If the student is not covered in full with their VA benefits. Students not eligible for enough VA benefits to cover their semester tuition in full are responsible for paying the balance.
- If the student fails to submit the Certificate of Eligibility (COE), and any other required information for certification.
In the scenarios listed above, the student may be subject to finance charges or registration holds if the balance is not paid by the student.
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Yellow Ribbon Program
Yellow Ribbon Program | Veterans Affairs
The Yellow Ribbon Program can help you pay for higher out-of-state, private school, foreign school, or graduate school tuition and fees that the Post-9/11 GI Bill doesn’t cover. Keep reading to find out if you’re eligible and if your school takes part in this program.
You must qualify for the Post-9/11 GI Bill at the 100% benefit level.
And at least one of these must be true:
- You served at least 36 months on active duty (either all at once or with breaks in service) and were honorably discharged, or
- You received a Purple Heart on or after September 11, 2001, and were honorably discharged after any amount of service, or
- You served at least 30 continuous days (all at once, without a break) on or after September 11, 2001, and were discharged or released from active duty for a service-connected disability, or
- You’re an active-duty service member who has served at least 36 months on active duty (either all at once or with breaks in service), or
- You’re a spouse using the transferred benefits of an active-duty service member who has served at least 36 months on active duty, or
- You’re a dependent child using benefits transferred by a Veteran, or
- You’re a Fry Scholar
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Repayment Plans
Federal Student Aid
No Description
You can pick from repayment plans that base your monthly payment on your income or that give you a fixed monthly payment over a set repayment period.
FAST FACTS
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You can pick from repayment plans that base your monthly payment on your income or plans that give you a fixed monthly payment.
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Repayment plans based on your income are a smart choice to lower your payment. For example, payments on the Saving on a Valuable Education (SAVE) Plan are no more than 10% of your discretionary income. The lower your income—or the larger your family size—the less you’ll pay each month.
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If you don’t pick a repayment plan, your loan servicer will place you on the Standard Repayment Plan (a 10-year fixed payment repayment plan). This plan might result in a higher monthly payment for you.
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Repayment Calculator
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Student Loan Forgiveness
Federal Student Aid
No Description
If you are employed by a government or not-for-profit organization, you may be able to receive loan forgiveness under the Public Service Loan Forgiveness Program .
Contact your servicer to apply for student loan forgiveness, and more.
Public Service Loan Forgiveness Program (PSLF)
The PSLF Program is intended to encourage individuals to enter and continue to work full-time in public service jobs.
Requirements:
- Borrowers may qualify for forgiveness of the remaining balance of their Direct Loans after they have made 120 qualifying payments on those loans while employed full time by certain public service employers.
- You must make 120 on-time, full, scheduled, monthly payments on your Direct Loans.
- You must make those payments under a qualifying repayment plan. When you make each of those payments, you must be working full-time at a qualifying public service organization.
Qualifying employment:
- Federal, state, local, or tribal government organizations.
- A 501(c)3 nonprofit.
- A not-for-profit that’s not 501(c)3 designated but meets other requirements related to public service.
- AmeriCorps, in a full-time capacity, or the Peace Corps.