Financial Aid Programs for Graduate Study in New York State
For most of the graduate student financial aid programs administered by the Federal or State Government, you need to complete the Free Application for Federal Student Aid (FAFSA) first so that financial need is established.
Check with the admissions and financial aid office at your school to make sure you are meeting all admissions and financial aid deadlines.
Financial aid is available from other sources too, such as the college you are attending, corporations, unions, professional associations, community organizations, and private lenders. Visit your college, public libraries and these websites to learn more.
Graduate financial aid programs include:
| Federal Programs for Graduate Study In New York State | |||||
|---|---|---|---|---|---|
| Name of Financial Aid Program | Maximum Annual Amount | Maximum Total Amount | Program of Study | Application | Basis for Eligibility |
| Federal Direct Unsubsidized Loans ¹ | $20,500 (less sub loan amount awarded) |
$138,500 (combined undergrad. and grad. sub. and unsub. loans) |
All | FAFSA and complete MPN and Entrance Counseling at studentloans.gov | General eligibility |
| Federal Grad/Professional PLUS Loans | Cost of Attendance | Varies | All | FAFSA and complete PLUS MPN and Entrance Counceling at studentloans.gov | General eligibility and credit worthy |
| Federal Perkins Loans | $8,000 | $60,000 (combined grad. and undergrad. loans) | All | FAFSA and visit campus financial aid office | General eligibility and financial need |
| Federal Work Study | Varies | Varies | All | FAFSA and visit campus financial aid office | General eligibility and financial need |
| Health Professions Student Loans (HPSL) |
Varies | Varies | Dentistry, Optometry, Pharmacy, Podiatric Medicine and Veterinary Medicine | FAFSA and additional application at campus financial aid office | General eligibility and financial need |
| Nursing Student Loans(NSL) |
Varies |
Varies | Nursing | FAFSA and additional application at campus financial aid office | General eligibility and financial need |
| Primary Care Loans ² | Varies | Varies | Allopathic or Osteopathic Medicine | FAFSA and additional application at campus financial aid office | General eligibility and financial need |
¹ For students in certain health professions programs, there is additional unsubsidized eligibility. Contact your financial aid office.
² You must agree to enter and complete residency training in primary care within four years after graduation, and practice in primary health care until the loans are paid off.
| NY State Programs for Graduate Study | |||||
|---|---|---|---|---|---|
| Name of Financial Aid Program | Maximum Annual Award | Duration | Program of Study | Application | Basis of Eligibility |
| Veterans Tuition Award | Equal to the annual tuition charged to NYS resident students attending an undergraduate program at the State University of New York, or actual tuition charged, whichever is less | Up to the equivalent of 6 semesters of study | All | FAFSA, TAP, & Veterans Tuition Award Supplement Application | General eligibility and be an eligible veteran who is a NYS resident. |
| Senator Patricia K. McGee Nursing Faculty Scholarships | Up to $20,000 annually or the average SUNY cost of attendance, whichever is less | Up to three academic years of graduate study | Master’s degree program in nursing, or doctoral degree program that qualifies for nursing faculty or adjunct clinical faculty | FASFA, TAP and Senator Patricia K. McGee Nursing Faculty Scholarships Supplement Application | General eligibility and be a registered nurse professionally licensed in NYS and enrolled in an accredited school in NYS; must agree to execute service contract |
| New York State (NYS) Math & Science Teaching Incentive Scholarships | Equal to the annual tuition charged to NYS resident students attending an undergraduate program at the State University of New York, or actual tuition charged, whichever is less | Up to four academic years of full-time undergraduate study and one academic year of full-time graduate study | Approved program leading to permanent certification as a secondary education teacher in mathematics or science | FASFA, TAP and NYS Math and Science Teaching Incentive Scholarship Program Supplement Application | General eligibility and be matriculated in an approved undergraduate or graduate program at a degree-granting institution in NYS leading to a career as a secondary education math or science teacher; must agree to execute service contract |
| State University of New York (SUNY) and City University of New York (CUNY) Financial Aid Programs for Graduate Study | |||||
|---|---|---|---|---|---|
| Name of Financial Aid Program | Maximum Annual Award | Duration | Program of Study | Application | Basis of Eligibility |
| SUNY Graduate Diversity Fellowship | Varies | Varies | SUNY Graduate Programs | Visit SUNY Campus Office of Graduate Admissions | Demonstration of contribution to the diversity of the student body, including having overcome a disadvantage or other impediment to higher education |
| SUNY Graduate Opportunity Program | Tuition and costs | Varies | SUNY Graduate Programs | Consult with undergraduate EOP/HEOP Director and SUNY Campus Office of Graduate Admissions | NYS resident and an EOP, HEOP, and/or SEEK program graduate |
| CUNY Five-year Graduate Center Fellowship | $26,128 annual stipend and in-state tuition (up to 16 credits per semester) | 5 years | CUNY Graduate Programs | Visit CUNY Doctoral Program | General eligibility and academic merit |
| CUNY Science Scholarships | $25,000 annual stipend and in-state tuition (Up to 16 credits per semester) | 5 years | Biochemistry, Biology, Chemistry and Physics | Visit CUNY Doctoral Program | General eligibility and academic merit |
Other Aid - Assistantships and Fellowships
You may wish to work for the college or university, earning a stipend from an Assistantship or Fellowship. Assistantships and Fellowships are granted by the department of your field of study at your college or university and usually pay a stipend to help cover the costs of tuition. Stipends vary widely, depending on the funding available to the department. Once you decide on your field of study, review your college and academic department information and find a faculty member who may wish to hire you as an assistant:- Teaching Assistant (TA): An academic appointment in support of teaching a course. The assignment is usually in the student’s major field or a closely related one.
- Graduate Assistant (GA): An appointment to support the student’s department.
- Research Assistant (RA): An academic appointment for research that is not directly thesis-related.
- Graduate Research Assistantship (GRA): An academic appointment focused on thesis or other degree-related research, often required of many degree candidates.
- Fellow: An arrangement in which financial support is given to a graduate student to pursue a degree without any obligation on the part of the student to engage in teaching and/or research. Generally, fellowships are merit-based awards and are contingent on the student maintaining satisfactory academic progress as defined by the graduate school.
Taxes and Tax Credits
Stipends may be considered as income and may be subject to federal and/or state income taxes. Consult your college bursar’s office, the IRS or a tax consultant for details.As a graduate student, you may be eligible for the federal Lifetime Learning Tax Credit, which would allow you to subtract up to $2,000 annually from your tax bill.