• There are four types of federal direct loans. All must be repaid to the U.S. Department of Education after graduation or withdrawal from college.

    • Federal Direct Subsidized Loan: Undergraduate students who demonstrate financial need can borrow up to a set amount each year. Interest on these loans does not accrue for students taking at least six credits in college or during the six-month grace period after enrollment ends.
    • Federal Direct Unsubsidized Loan: Undergraduate and graduate students can borrow up to a set amount each year. Financial need is not considered.
    • Federal Direct Graduate PLUS Loan: Graduate students can borrow up to the Cost of Attendance each year. Students must have acceptable credit or a creditworthy endorser. 
    • Federal Direct Parent PLUS Loan: Parents of undergraduates can borrow up to the Cost of Attendance each year. Parents must have acceptable credit or a creditworthy endorser.

    To-Do List for Federal Student Loan Borrowers

    • Any student who applies to take out a Federal Direct Loan must accept their loan.
      • Returning and continuing students can log in to MyNewSchool to view and accept their Federal Direct Loans.
      • Newly admitted students can view and accept their Federal Direct Loans here.  
    • Students who are new borrowers at The New School must complete both Loan Entrance Counseling and a Master Promissory Note at studentaid.gov.
    • Students who are about to graduate or are enrolled for fewer than six credits must complete Loan Exit Counseling.

    Direct Stafford Loan Annual and Aggregate Loan Limits

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

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

    Find more information about federal loans at studentaid.gov.

  • Contact Us

    Office of Financial Aid
    72 Fifth Avenue, 2nd floor
    New York, NY 10011
    [email protected]
    212.229.8930

    In-Person Office Hours
    Monday–Friday, 10:00 a.m.–5:00 p.m.

    Virtual Office Hours
    Monday–Thursday, 10:00 a.m.–2:00 p.m.

    To schedule time with a staff member, visit The New Queue.

  • Related Links

  • 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.