• There are four types of federal direct loans. All are repayable 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 during enrollment 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.

    Find more information about federal loans at studentaid.gov.

    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.

    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/accept their federal direct loans.
      • Newly Admitted students can view and accept their federal direct loans here.  
    • If you are a new borrower at The New School, complete both Loan Entrance Counseling and a Master Promissory Note at studentaid.gov.
    • Before graduation or if enrolled for fewer than six credits, complete Loan Exit Counseling.


  • Contact Us

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

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

    In-Person Office Hours
    Tuesday–Thursday, 10:00 a.m.–3:00 p.m.

    To schedule time with a staff member, visit QLess or text "The New School NY" to 646.328.6322. 

  • 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.