What Does it Cost to Attend New York University?

Located in the heart of New York City’s Greenwich Village, New York University is a dream school for many students.

 

Unfortunately, it also comes with a very high cost. Many families may be intimidated by the price of attendance for their student, but it’s important to remember that the list price can be a bit misleading. Few families pay the list price, with many receiving government, institutional, and outside merit aid.

 

Your net price, which takes into account your total financial aid, is the number that really matters. So, what should you expect to pay if your child attends NYU? Here’s what to know.

 

List Price at NYU

 

Including tuition, room, and board, the list price for attending NYU is $69,710. This is the same for in- and out-of-state students, as NYU is a private school.

 

Generally, families who are in a high-income bracket, earning more than $175,000 per year combined are expected to pay the list price, while others generally receive some financial aid.

 

What is the Price with Financial Aid at NYU?

 

Students who receive only financial aid and no merit aid pay $61,411 on average. This figure can vary significantly depending on the family’s income bracket, however:

 

Family Income Average Net Price
$0-$30,000 $22,731
$30,001-$48,000 $24,621
$48,001-$75,000 $33,617
$75,001-$110,000 $39,445
Over $110,000 $52,597

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What is the Merit Aid Net Price at NYU?

 

Merit aid is a financial award given to students for exceptional accomplishments, both inside and outside of the classroom. A small percentage—5.9 percent—of students who don’t receive need-based aid receive merit aid, with the average award being $264.

 

This means that the average net price for students who don’t qualify for financial aid, but do receive merit scholarships, is close to the list price of $69,446.

 

In a pool of 1,000 schools CollegeVine has analyzed for merit aid generosity, NYU ranks 870th.

 

How Many Students Take Out Loans at NYU?

 

Thirty-one percent of NYU students take out loans, with an average federal loan of $8,346 across all four years. Loans must be repaid after graduation, unlike most other components of financial aid packages.

 

Other Ways to Save for College

 

New York City is an area full of opportunities for students and professionals alike. Many NYU students take on part-time jobs or paid internships in a variety of industries to help them save money. The current minimum wage in New York is $11.10/hour, so students can earn a decent amount of cash on the side.

 

Another way to save money is  if your student scores within then top 1% of PSAT test takers. The National Merit Scholarship Corporation grants scholarships of around $2,500 to 15,000 high scorers each year. NYU itself also does very few merit scholarships to students who do not qualify for financial aid, and you can learn more about them on the Scholarships page.

 

What are Student Outcomes for NYU?

 

The outcomes are generally strong for NYU graduates. The six-year graduation rate is 84%, and after 10 years, students earn an average annual salary of $61,900.

 

Local Area Cost Considerations for New York City

 

New York City’s cost of living index is 209.3, meaning that it is 109.3 percent more expensive than the national average.

 

Freshmen and other undergraduates who meet the housing requirements (must be matriculated students who meet deadlines and have not canceled NYU housing, except for an approved medical leave or study-abroad program) are guaranteed housing.

 

Apartment rental prices can be quite steep in New York. On average, the cost of a one-bedroom is $2,895 and $3,726 for a two-bedroom. The East Village in particular, where the majority of NYU is located, has an average apartment rent of $4,104.

 

Minimum wage in New York City is $15.00/hour for businesses with more than 10 employees, higher than the minimum wage for the rest of New York State. Hourly salaries can vary significantly according to factors such as experience level and industry.

 

Is your child considering apply to NYU? Our Applications Program can assist with the process. Our financial aid assistance tool can help you understand the ROI of colleges and majors and your child can benefit from cost analyses, application theme development, and much more. Contact us today to learn about our services!

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Laura Berlinsky-Schine
Senior Blogger at CollegeVine
Short bio
Laura Berlinsky-Schine is a graduate of Johns Hopkins University, where she majored in Creative Writing and minored in History. She lives in Brooklyn, New York and works as a freelance writer specializing in education. She dreams of having a dog.