Financial Aid

Frequently Asked Questions

Find answers to common questions about financial aid below, including how to apply, eligibility requirements, and options available to help support your education. We also encourage you to read our Graduate Admissions Blog post, “Let’s Talk About Financial Aid at Bank Street,” to uncover truths about the process that you may not already know, as well as tips for applying.

  • Do I qualify for financial aid based on my income?

    Your individual financial status from the prior year is a key factor in determining your award. Incoming students who earn up to $80,000 a year (or significantly more for students with families) are likely to qualify for a need-based scholarship at Bank Street. Our scholarship program makes the cost of attending Bank Street Graduate School of Education competitive with most other private schools in the New York region.

  • How do I apply for financial aid at Bank Street?

    Steps to apply for financial aid:

    1. All students interested in receiving financial aid must complete and submit the FAFSA (Free Application for Federal Student Aid). Please remember that in order to complete the FAFSA, you will need your federal tax returns. The FAFSA becomes available annually on October 1 and can be accessed at the Federal Student Aid website. Bank Street’s Title IV Code is G02669 (G ZERO 2669).
    2. Submit the Financial Aid Questionnaire and Degree Requirement Form to the Office of Financial Aid. New applicants to Bank Street College will receive these forms shortly after you have been admitted via your personal email account. Continuing Bank Street College students will receive these forms via your Bank Street email once the FAFSA data has been received.
    3. An Estimated Financial Aid Award letter will be mailed after the financial aid file is complete, starting on March 15.
    4. You must complete the Entrance Counseling and Master Promissory Note available on the Federal Student Aid website.
  • When should I apply for financial aid?

    You can apply for financial aid at the same time you complete your admission application. Filling out the FAFSA as early as possible is an important step for financial aid. Federal student aid, including scholarships, can significantly reduce your financial obligation without adding to student debt.

  • I plan to attend Bank Street College as a full-time student. How can I finance my education and meet my living expenses?

    As a graduate student, you can borrow up to $20,500 per fiscal year (July 1–June 30) through the William D. Ford Federal Direct Unsubsidized Loan Program. The loan funds you borrow can assist in meeting your educational costs as well as your living expenses depending on the number of credits enrolled per semester. You may also qualify for additional sources of aid including scholarships, work-study, or loans.

    Learn More About Loans

  • I have outstanding student loans from my undergraduate school. Can these loans be deferred while I am attending Bank Street College?

    Most student loans can be deferred if you are enrolled at least half time. Half-time enrollment is considered a minimum of 5 credits (or the equivalent) during the fall or spring semester or a minimum of 2 credit hours during the Summer 1 or Summer 2 term. You must check with your lender or loan servicer for more information regarding the deferment of your student loans. The Office of Financial Aid can assist with this process.

  • My circumstances have changed since I filed the FAFSA and I didn’t receive enough aid. Now what?

    Relax and take a deep breath. Then, reach out—We are really good listeners. You can contact our Office of Financial Aid to appeal your offer for any reason. This is a process where you have the opportunity to explain to us why the information we received from the FAFSA is not the whole story. Let us know what’s going on, and we will work with you to see what we can do.

  • What types of payments are accepted for financial aid?

    We accept the following forms of payment:

    • Personal Check or money order
    • Credit Card (VISA or Mastercard)
    • Financial Aid
    • Valid Courtesy Course Waiver or Voucher
    • Payment Plan

    For a complete listing of payment options, visit the Bursar Page