Financial Aid and Student Loans in New York

Planning to attend college in the Empire State? While it’s a wonderful place to study with all kinds of excellent programs, the costs are high. New York ranks 43rd in the country for the average cost of on-campus attendance ($41,446 for the 2017–18 school year). With that kind of investment, it’s no wonder that 59% of students in New York graduate with student loan debt. 

One of the best ways to minimize your student debt is to apply for scholarships and grants before resorting to loans. Even if a scholarship doesn’t cover all of your costs, it will help reduce the amount of money you have to pay back.

That’s why we’ve provided this overview of some of the potential opportunities for New York residents. There are far too many scholarships to list here in full, but you can search in more detail at resources like,, and

What scholarship programs does New York have?

There are hundreds of scholarship programs available to prospective students in New York. These scholarships can range from general to career-specific and may vary significantly in funding.

Every contribution toward your education can help. Try to remember that, though it’s a lot of work to apply to scholarships and grants, it’s in your best interest to apply to as many as possible. 

AEF Scholarship

The Ascend Educational Fund gives scholarships to immigrants or children of immigrants, regardless of ethnicity or immigration status. The scholarship award is between $2,500 and $20,000, and all recipients are enrolled in a mentorship program to help them achieve their full potential.

Eligible candidates must meet the following criteria:

  • Born outside the United States, or have two parents originally from outside the United States
  • Be a graduating senior at a high school in one of the five boroughs of New York City
  • Enrolled full-time at an accredited public or private college or university

Applicants must submit their application before February 7. The selection process ends in June, where finalists have their final interviews.

Joseph H. and Mildred C. McManus Scholarship

Unlike many merit-based scholarships, the Joseph H. and Mildred C. McManus scholarship focuses on students demonstrating financial need or who must apply themselves to prosper. The goal of the scholarship is to support residents of Dutchess County, where both Joseph and Mildred spent their lives.

The scholarship pays out $1,500 per year and renews every year for four years.

Eligible candidates must meet the following criteria:

  • A resident of Dutchess County that has recently graduated from a Dutchess County high school
  • Demonstrates financial need
  • Has an overall grade of ‘B’ or equivalent GPA

Applicants have to submit their applications online by the 1st of April.

The Scholastic Scholarship and Internship from NYWIC

This scholarship aims to fund students who are interested in communications and media. It’s administered through the New York Women in Communications (NYWIC), an association that aims to empower women in the field of communications. The scholarship includes a $10,000 award and paid internship at NYWIC in the summer.

Students must already be juniors or seniors in college and display a passion for communications and a desire to learn more. Students must also be U.S. citizens or have permanent residency in New York, New Jersey, Connecticut, or Pennsylvania. The exception is students from other states who are enrolled in a communications program at a college or university in New York state.

The application deadline for the scholarship is January 24. After the initial selection process, candidates must complete a telephone interview. Students who pass this stage will then attend in-person interviews in New York City. The finalists are decided and announced after these interviews.

The Virginia W. Smith Scholarship

The Virginia W. Smith Scholarship funds budding horticulturalists, conservationists, and environmental studies students from the Long Island region of New York. The scholarship consists of a one-time $2,500 award.

High school students who plan to study horticulture, environmental studies, or conservation (and have a satisfactory grade) can apply. Applications close on April 30.

What grant programs does New York have?

The state of New York offers a wealth of grants to prospective students. It aims to make higher education achievable for all New York residents, no matter their background. Most grant applications hinge on financial need, but the decision process can also factor in academic achievement and course of study.

New York State Tuition Assistance Program (TAP)

The state-funded grant helps New York students pay for tuition in several approved schools. It is an annual award that may cover up to $5,165, depending on the program and year of study. Eligible students must meet the following criteria:

  • Be a U.S. citizen and have graduated from a high school in the United States
  • Pay at least $200 in tuition per year
  • Study full- or part-time at an approved institution in New York
  • Have a good academic standing of at least a cumulative C average
  • Meet income requirements

The deadline for the application is the 30th of June.

The New York State Higher Education Opportunity Program (HEOP)

The HEOP is more than a scholarship. It’s a broader program that helps prospective students by providing academic support, financial aid, and access to higher education. Its main target is promising students who would otherwise not attend a postsecondary program.

What sets the HEOP apart from other grants is that it combines educational assistance as well as financial aid, which sets grantholders up for success.

Applicants need to meet the following criteria to be considered by the HEOP:

  • New York State resident for 12 months
  • Require special admissions consideration
  • Qualify as both economically and educationally disadvantaged

Students from historically disadvantaged backgrounds get priority. Once a student receives the grant, they not only earn financial aid but additional instruction and tutoring, as well as career and academic counseling.

New York State Aid to Native Americans

The grant provides up to $2,000 per year in tuition assistance for up to four years. Any member of a recognized Native American tribe in the state of New York can apply, as long as the student is enrolled full-time at an approved college or university. Part-time students can receive assistance on a prorated basis.

The application deadline varies depending on which term you are applying for (fall, spring or summer). For the fall term, for instance, the application deadline is July 16. 

New York State Regents Award for Children of Deceased or Disabled Veterans

The grant provides up to $450 per year to children of deceased or disabled veterans who served in the Armed Forces during specific times of war or national emergency. The veteran must be or have been a resident of New York State for the child to qualify. The child must be enrolled in an approved college or university in the state of New York.

The Segal AmeriCorps Education Award

The grant is a post-service benefit to individuals who served in the AmeriCorps program. It is named after Eli Segal, who was the first CEO of the Corporation for National and Community Service.

The amount granted by this award depends on the type of service of the individual. It can range between $350 and $6,195. One award is issued per term of service, and multiple terms of service can qualify for multiple awards.

The award can pay for educational expenses at any approved institution, or it can help repay qualified student loans.

What student loan programs does New York have?

New York doesn’t have any dedicated student loan programs. Instead, it offers scholarships and grants. If you’re looking for a student loan in New York, you’ll have to consider federal student loans, private student loans, or no co-signer student loans.

Federal student loans in New York

Prospective New York students can receive federal financial aid assistance by completing the Free Application for Federal Student Aid (FAFSA). 

Private co-signed student loans in New York

There are many private student loan opportunities for those who need additional assistance on top of federal student loans. Many banks, credit unions, and dedicated lending companies offer private student loans, but almost all require a co-signer.

No co-signer student loans in New York

Funding U began because we identified thousands of students who were unable to qualify for a private student loan because they didn’t have an eligible co-signer. While we’re no longer the only provider of such loans, we offer no co-signer student loans to career-focused students currently enrolled full time in college. The requirements for receiving a loan are dependent upon the GPA of the student and the graduation rate of the institution they attend. To learn more about our no co-signer student loans click here.

What schools does Funding U lend to in New York?

Generally speaking, Funding U’s no co-signer loans are offered to students at eligible four-year, non-profit, undergraduate degree-granting universities (which means we do not lend to for-profit schools, 2-year schools, graduate schools, or trade schools). Our eligibility requirements are based on models that aim to predict how likely a student is to graduate, and because of that we have minimum GPA requirements that students must meet and minimum 6-year graduation rates that schools must reach in order to be eligible. To find out more about how we determine our eligibility, click here.

School NameFreshman
6 yr
Grad Rate
Adelphi UniversityNoYesYesYes7080
Albany College of Pharmacy and Health SciencesNoNoYesYes6680
Alfred UniversityNoNoYesYes6068
Bard CollegeNoYesYesYes7583
Barnard CollegeYesYesYesYes9295
Be'er Yaakov Talmudic SeminaryNoNoYesYes5493
Beis Medrash Heichal DovidNoNoNoNo2979
Beth Hamedrash Shaarei Yosher InstituteNoNoNoNo673
Binghamton UniversityNoYesYesYes8191
Boricua CollegeNoNoYesYes6255
Canisius CollegeNoNoYesYes6883
Cazenovia CollegeNoNoYesYes6068
Central Yeshiva Tomchei Tmimim LubavitzNoNoNoNo1564
Clarkson UniversityNoYesYesYes7585
Colgate UniversityNoYesYesYes8994
College of Mount Saint VincentNoNoYesYes5172
College of Staten Island CUNYNoNoNoNo3176
Columbia University in the City of New YorkYesYesYesYes9697
Concordia College-New YorkNoNoNoNo4376
Cooper Union for the Advancement of Science and ArtNoYesYesYes8896
Cornell UniversityYesYesYesYes9597
CUNY Bernard M Baruch CollegeNoNoYesYes6990
CUNY Brooklyn CollegeNoNoYesYes5882
CUNY City CollegeNoNoYesYes5586
CUNY Hunter CollegeNoNoYesYes5683
CUNY John Jay College of Criminal JusticeNoNoNoNo4678
CUNY Lehman CollegeNoNoNoNo4983
CUNY Queens CollegeNoNoYesYes5584
CUNY York CollegeNoNoNoNo3071
D'Youville CollegeNoNoYesYes6079
Daemen CollegeNoNoYesYes5777
Davis CollegeNoNoYesYes5981
Dominican College of BlauveltNoNoNoNo4374
Elmira CollegeNoNoYesYes6865
Farmingdale State CollegeNoNoYesYes5083
Fordham UniversityNoYesYesYes8391
Hamilton CollegeYesYesYesYes9396
Hartwick CollegeNoNoYesYes5870
Hilbert CollegeNoNoYesYes5971
Hobart William Smith CollegesNoYesYesYes7886
Hofstra UniversityNoNoYesYes6381
Houghton CollegeNoYesYesYes7180
Iona CollegeNoNoYesYes6775
Ithaca CollegeNoYesYesYes7983
Jewish Theological Seminary of AmericaNoYesYesYes8291
Kehilath Yakov Rabbinical SeminaryNoNoYesYes6792
Keuka CollegeNoNoYesYes5368
Le Moyne CollegeNoYesYesYes7584
LIU BrentwoodNoNoNoNo
LIU BrooklynNoNoNoNo3164
LIU PostNoNoNoNo4678
LIU RiverheadNoNoNoNo
Manhattan CollegeNoYesYesYes7485
Manhattan School of MusicNoYesYesYes7896
Manhattanville CollegeNoNoYesYes5974
Marist CollegeNoYesYesYes8389
Marymount Manhattan CollegeNoNoNoNo4876
Medaille CollegeNoNoNoNo3761
Mercy CollegeNoNoNoNo4473
Mesivta Torah Vodaath Rabbinical SeminaryNoNoNoNo2964
Mesivtha Tifereth Jerusalem of AmericaNoNoNoNo089
Metropolitan College of New YorkNoNoNoNo3347
Mirrer Yeshiva Cent InstituteNoNoNoNo267
Molloy CollegeNoYesYesYes7588
Mount Saint Mary CollegeNoNoYesYes5778
Nazareth CollegeNoNoYesYes6679
New York Institute of TechnologyNoNoYesYes5173
New York UniversityNoYesYesYes8593
Niagara UniversityNoYesYesYes7183
Nyack CollegeNoNoNoNo4259
Pace University-New YorkNoNoYesYes5680
Paul Smiths College of Arts and ScienceNoNoYesYes5171
Pratt Institute-MainNoYesYesYes7288
Rabbinical Academy Mesivta Rabbi Chaim BerlinNoNoNoNo3892
Rabbinical College Bobover Yeshiva Bnei ZionNoYesYesYes8798
Rabbinical College of Ohr Shimon YisroelNoNoNoNo4444
Rabbinical Seminary of AmericaNoNoNoNo2715
Rensselaer Polytechnic InstituteNoYesYesYes8693
Roberts Wesleyan CollegeNoNoYesYes6882
Rochester Institute of TechnologyNoNoYesYes6790
Saint John Fisher CollegeNoYesYesYes7385
Sarah Lawrence CollegeNoYesYesYes7382
Sh'or Yoshuv Rabbinical CollegeNoNoNoNo850
Siena CollegeNoYesYesYes7488
Skidmore CollegeNoYesYesYes8693
St Bonaventure UniversityNoNoYesYes6884
St Francis CollegeNoNoYesYes5574
St John's University-New YorkNoNoYesYes6183
St Lawrence UniversityNoYesYesYes8292
St. Joseph's College-Long IslandNoNoYesYes6880
St. Joseph's College-New YorkNoNoYesYes6882
St. Thomas Aquinas CollegeNoNoYesYes5574
State University of New York at New PaltzNoYesYesYes7686
Stony Brook UniversityNoYesYesYes7490
SUNY at AlbanyNoNoYesYes6483
SUNY at FredoniaNoNoYesYes6278
SUNY at Purchase CollegeNoNoYesYes6383
SUNY Buffalo StateNoNoNoNo4866
SUNY College at BrockportNoNoYesYes6578
SUNY College at GeneseoNoYesYesYes8186
SUNY College at Old WestburyNoNoNoNo4780
SUNY College at OswegoNoNoYesYes6478
SUNY College at PlattsburghNoNoYesYes6882
SUNY College at PotsdamNoNoYesYes5675
SUNY College of Agriculture and Technology at CobleskillNoNoNoNo4073
SUNY College of Environmental Science and ForestryNoYesYesYes7785
SUNY CortlandNoYesYesYes7180
SUNY Downstate Medical CenterNoNoNoNo
SUNY Empire State CollegeNoNoNoNo2652
SUNY Maritime CollegeNoNoYesYes6685
SUNY OneontaNoYesYesYes7685
SUNY Polytechnic InstituteNoNoYesYes5780
Syracuse UniversityNoYesYesYes8391
Talmudical Seminary of BobovNoNoYesYes5054
The College of New RochelleNoNoNoNo3558
The College of Saint RoseNoNoYesYes6175
The Juilliard SchoolNoYesYesYes8893
The King's CollegeNoNoYesYes5173
The New SchoolNoYesYesYes7281
The Sage CollegesNoNoYesYes6279
Torah Temimah Talmudical SeminaryNoNoNoNo210
Touro CollegeNoNoNoNo4782
Union College (New York)NoYesYesYes8892
United States Merchant Marine AcademyNoYesYesYes8492
United States Military AcademyNoYesYesYes8596
United Talmudical SeminaryNoNoYesYes5290
University at BuffaloNoYesYesYes7687
University of RochesterNoYesYesYes8697
Uta Mesivta of Kiryas JoelNoYesYesYes8798
Utica CollegeNoNoYesYes5476
Vassar CollegeYesYesYesYes9296
Wagner CollegeNoNoYesYes6976
Webb InstituteNoYesYesYes7393
Wells CollegeNoNoYesYes6070
Yeshiva D'monsey Rabbinical CollegeNoNoYesYes6750
Yeshiva Derech ChaimNoNoNoNo1964
Yeshiva Gedolah Imrei Yosef D'spinkaNoNoNoNo3689
Yeshiva Karlin StolinNoNoYesYes6162
Yeshiva of Far Rockaway Derech Ayson Rabbinical SeminaryNoNoYesYes5280
Yeshiva of Machzikai HadasNoNoNoNo4699
Yeshiva of Nitra Rabbinical CollegeNoNoNoNo1677
Yeshiva UniversityNoYesYesYes8390
Yeshivath ViznitzNoYesYesYes7594

Below is a table listing all of the schools in New York that Funding U is currently lending to, with additional details on which grades we are currently lending to, based on the school’s 6-year graduation rate. 

General Disclaimer
Funding U creates informational content that is of interest to prospective borrowers and our applicants. The information included in this blog post could include technical or other inaccuracies or typographical errors. It is solely your responsibility to evaluate the accuracy, completeness and usefulness of all opinions, advice, services, merchandise and other information provided herein. FUNDING U IS NOT RESPONSIBLE FOR, AND EXPRESSLY DISCLAIMS ALL LIABILITY FOR, DAMAGES OF ANY KIND ARISING OUT OF USE, REFERENCE TO, OR RELIANCE ON ANY INFORMATION CONTAINED WITHIN THESE BLOG POSTS (INCLUDING THIRD-PARTY SITES).
Third Party Brands

No brands or products mentioned are affiliated with Funding U, nor do they endorse or sponsor this article. Third party trademarks referenced herein are property of their respective owners.

External Websites
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by Funding U. Links are provided for informational purposes and should not be viewed as an endorsement.
Funding U Loan Products
Loans are made by Funding U which is a for-profit enterprise. None of the information contained in Funding U’s website constitutes a recommendation, solicitation or offer by Funding U or its affiliates to buy or sell any securities or other financial instruments or other assets or provide any investment advice or service.