Financial Aid

The School of Visual Arts is pleased to provide a Net Price Calculator as a guide to assist in early financial planning for college. This calculator will provide a preliminary estimate of federal and institutional aid eligibility for full-time undergraduate students. The estimates are based on the award policies of the 2020–2021 academic year and are subject to change. Please click on the link to get started.

You can file the 2020–21 FAFSA form online at studentaid.gov using your FSA ID login credentials to sign electronically.

If you have any questions, please feel free to contact Financial Aid at 212.592.2030 or email us at fa@sva.edu.

ENTRANCE COUNSELING

The federally mandated financial aid loan entrance counseling is required for all students receiving a Federal Direct Stafford Loan or a Federal Direct Graduate PLUS Loan for the first time at SVA. If a student has received a Stafford Loan at a previous institution, they do not need to complete the entrance counseling here at SVA.

Students must complete the entrance counseling before any loan proceeds may be received. The entrance counseling is an information session explaining the student’s rights and responsibilities regarding these loan programs.

Please refer to your SVA email account for correspondences from our office regarding your applicable entrance requirements.

EXIT COUNSELING

The federally mandated Exit Counseling session(s) are required for all students that received a Federal Perkins Loan, Federal Direct Stafford Loan, and/or a Federal Direct Graduate PLUS Loan at SVA.

The Exit Counseling sessions provide important information that you need as you prepare to repay your federal student loan(s).

For the graduating class of 2020, the Federal Direct Loan and/or Federal Perkins Loan exit counseling session(s) must be completed online. Please refer to your SVA email announcement to determine your applicable exit requirements.

It is imperative you complete all required exit counseling sessions in order to be cleared for commencement.

Should you have any questions please contact us by email at fa@sva.edu.

The Office of Financial Aid is a member of NASFAA, the National Association of Student Financial Aid Administrators. We abide by NASFAA's Code of Conduct for Institutional Financial Aid Professionals which states that an institutional financial aid professional is expected to always maintain exemplary standards of professional conduct in all aspects of carrying out his or her responsibilities, specifically including all dealings with any entities involved in any manner in student financial aid, regardless of whether such entities are involved in a government-sponsored, subsidized, or regulated activity.

In doing so, the Office of Financial Aid at the School of Visual Arts is bound by the following:

• Refrain from taking any action for his or her personal benefit.
• Refrain from taking any action he or she believes is contrary to law, regulation, or the best interests of the students and parents we serve.
• Ensure that the information he or she provides is accurate, unbiased, and does not reflect any preference arising from actual or potential gain.
• Remain objective in making decisions and advising the administration at the School of Visual Arts regarding relationships with any entity involved in any aspect of student financial aid.
• Refrain from soliciting or accepting anything other than of nominal value from any entity involved in the making, holding, consolidating or processing of any student loans, including anything of value (including reimbursement of expenses) for serving on an advisory board or as part of a training activity or sponsored by any entity.
• Disclose to the administration at the School of Visual Arts any involvement with or interest in any entity involved in any aspect of student financial aid.

The School of Visual Arts' Office of Financial Aid adheres to the professional standards of conduct set forth by the National Association of Student Financial Aid Administrators (NASFAA) adopted by the NASFAA Board of Directors, May 2007. This is particularly crucial in our commitment to ensure transparency in our administration of student financial aid programs and to avoid any conflict of interest.

In compliance with the requirements of the Higher Education Opportunity Act (H.R. 4137) was signed into law on August 14, 2008, the above is the Code of Conduct regarding student loans and all other financial aid for the Office of Financial Aid at the School of Visual Arts.

Please view NASFAA's Statement of Ethical Principles and Code of Conduct for Institutional Financial Aid Professionals.

Due to the COVID-19 pandemic national emergency, Secretary DeVos announced that all borrowers with federal student loans (excluding Perkins) would automatically have their interest rates set to 0% for at least 60 days as of March 13, 2020. Also, borrowers have the option to suspend payments for at least 60 days without additional interest accruing. Please note that the suspension of payment is not automatic. Contact your loan servicer and request an Administrative Forbearance to suspend payment. If you do not know who your servicer is or how to contact them, visit StudentAid.gov/login or call 1-800-433-3243 for assistance.

Higher Education Emergency Relief Fund Report – Emergency Financial Aid Grants to Students

45 Day Funding Report – Distribution as of 10/16/2020

Under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) Higher Education Emergency Relief Fund (HEERF), School of Visual Arts 209 East 23rd Street New York, NY 10010 OPEID 007468 received education stabilization funds designated exclusively for emergency financial aid grants to students.

Pursuant to guidance issued by the Department of Education through an Electronic Announcement published on May 6, 2020, we are providing the following information about the funds we have received, and how, and to whom, we have distributed them.

1 - On April 13, 2020, the institution signed and returned to the Department the Recipient’s Funding Certification and Agreement (for) Emergency Financial Aid Grants to Students required to receive funds allocated under Section 18004(a)(1) of the CARES Act. The institution has used, or intends to use, no less than 50 percent of the total funds received to provide emergency financial aid grants to students.

2 - The total amount of funds that the institution has received from the Department pursuant to the institution’s Certification and Agreement specifically for emergency financial aid grants to students is $1,396,849 and SVA has allocated an additional $90,626 under the CARES Act.

3 - The total amount of emergency financial aid grants distributed to students under Section 18004(a)(1) of the CARES Act as of the date of this Fund Report is $850,200 to Pell recipients and $637,275 to non-Pell recipients with a completed 2019-20 FAFSA.

4 - The estimated total number of students at the institution eligible to participate in programs under Section 484 in Title IV of the Higher Education Act of 1965, and thus potentially qualified to receive emergency financial aid grants under Section 18004(a)(1) of the CARES Act, as of the date of this Fund Report is 1,533 students.

5 - The total number of students who have received an emergency financial aid grant under Section 18004(a)(1) of the CARES Act as of the date of this Fund Report is 950 students received direct deposits and 583 students received checks of which 574 have been cashed.

6 - The methods we used to determine which students receive emergency financial aid grants and how much they would receive under Section 18004(a)(1) of the CARES Act are included below under “Student Emergency Funding Allocation”:

• Priority for the emergency grant was given to students who successfully completed a 2019-20 FAFSA by May 4, 2020 to ensure the funds go to those with the greatest need. Of that population, students who were Pell recipients would receive an award amount of $1,300. The Spring semester totaled 113 days, 58 of which were spent physically on-campus. Using the percentage of time spent on-campus (51.3%) against Federal Work Study, a commonly awarded need-based financial aid, as a base (awarded at $2,500 per semester), the emergency grant amount for Pell recipients was rounded up to $1,300. The remaining funds were divided among non-Pell recipients at $725 per emergency grant.

7 - The guidance/certification we provided to students concerning the emergency financial aid grants appear below under “Student Notices”:

• Eligible students received an email from our office on 05/13/2020 to both their SVA email and their personal email on record explaining their rights and responsibilities. Information regarding the emergency grants is posted on the Financial Aid page and Consumer Information page of the SVA website.

Student Emergency Funding Allocation - Student Notices

For questions or concerns regarding this Fund Report, please contact William Berrios, Director of Financial Aid.

Silas H. Rhodes Merit Scholarship

Award Description: Named for SVA's founder, this competition awards scholarships to applicants from the United States and abroad. The scholarships are awarded strictly on merit and recognize the creative and academic achievements of applicants. A minimum grade point average of 3.0 is required for scholarship eligibility. In order to be considered for the Silas H. Rhodes Scholarship, first-time freshmen applicants must submit all admissions materials postmarked by February 1, 2020, and transfer applicants must submit all admissions materials postmarked by March 1, 2020. Admissions materials include a digital portfolio on CD-R or uploaded to sva.slideroom.com. SVA does not require a separate application for the Silas H. Rhodes Scholarship. If applicants submit all materials by the specified deadline and have a minimum 3.0 GPA, their application will be automatically reviewed for scholarship. Only scholarship winners will be notified of an award.

National Scholastic Art Award Scholarships

Award Description: Merit-based award available to full-time undergraduate students who are eligible for the Silas H. Rhodes Merit Scholarship. Two scholarships are awarded to SVA applicants each year.

SVA Grant

Award Description: SVA need-based award available to full-time students. The Office of Financial Aid determines eligibility and grant amounts based on individual financial need.

SVA Assistance Grant

Award Description: SVA need and merit- based award available to full-time undergraduate students who are eligible for a Federal Pell Grant and have maintained a minimum cumulative GPA of 3.5.

SVA Matching Outside Scholarships

Award Description: SVA matching scholarship available to full- and part-time undergraduate students. Based on the student's financial need, as determined by the completion and submission of the FAFSA. SVA will match 25% of an eligible outside scholarship that a student obtains from a qualified charitable organization and payable to SVA after completion of the FAFSA. The total combined match amount cannot exceed $2,500 for each award year. The match excludes scholarships offered by the SVA Visual Arts Foundation and your department major. SVA Financial Aid determines the eligibility and grant amounts based on the student's financial need as determined by the FAFSA in addition to institutional funding levels.

Federal Pell Grant

Award Description: Federal need-based grant available to full- and part-time students (at least 6 credits per semester).

Federal Supplemental Educational Opportunity Grant (FSEOG)

Award Description: Federal need-based grant available to full- and part-time students who are eligible for a Federal Pell Grant.

New York State Tuition Assistance Program (TAP)

Award Description: New York State need-based grant available to full-time matriculated students who are legal residents of New York State.

New York State Aid for Part-Time Study (APTS)

Award Description: New York State need-based grant available to part-time (3-11 credits per semester) matriculated undergraduate students who are legal residents of New York State.

Dream Act

Award Description: New York State (NYS) award which undocumented and certain other students can apply under the NYS Dream Act.

We also recommend these award-winning sites which provide extensive financial aid information and additional sources of information:

• fastweb.com
• scholarshiphunter.com
• bigfuture.collegeboard.org
• studentaid.gov
• finaid.org
• hsf.net
• salliemae.com/college-planning
• edvisors.com
• gmsp.org

Federal Stafford Loans

Award Description: Federal need-based loan available to full- and part-time students. The Office of Financial Aid determines eligibility and loan amounts based on the student's financial need. Subsidized vs. Unsubsidized: The Stafford Loan has two variations, Subsidized and Unsubsidized. If the student demonstrates financial need, the federal government pays the interest (subsidizes) on the loan during the student's period of enrollment. Students with no financial need are eligible for the Unsubsidized Stafford Loan, and the student is responsible for the interest accrued during their period of enrollment.

Federal Work-Study

Program Description: Federal need-based employment award providing on- and off-campus employment opportunities. Most positions are with professionals in the field of the student's choice and are available on a first-come, first-serve basis.

Federal Parent Loans to Undergraduate Students (FPLUS)

Loan Description: Loan opportunity available to parents of dependent students who do not have an adverse credit history. Parents may borrow up to the entire cost of a student's education (including living expenses) less other financial aid from participating lenders.

Private Education Loans

Private Education Loans are available to students and parents through various lenders. SVA recommends that you review borrowing options through the federal loan programs first and then evaluate the private loan options. Please contact our office for additional information.

SVA Graduate Department Scholarships

Award Description: Merit-based award available from Graduate department chairpersons.

SVA Matching Outside Scholarships

Award Description: SVA matching scholarship available to full- and part-time graduate students. Based on the student's financial need, as determined by the completion and submission of the FAFSA. SVA will match 25% of an eligible outside scholarship that a student obtains from a qualified charitable organization and payable to SVA after completion of the FAFSA. The total combined match amount cannot exceed $2,500 for each award year. The match excludes scholarships offered by the SVA Visual Arts Foundation and your department major. SVA Financial Aid determines the eligibility and grant amounts based on the student's financial need as determined by the FAFSA in addition to institutional funding levels.

Dream Act

Award Description: New York State (NYS) award which undocumented and certain other students can apply under the NYS Dream Act.

We also recommend these award-winning sites which provide extensive financial aid information and additional sources of information:

• fastweb.com
• scholarshiphunter.com
• bigfuture.collegeboard.org
• studentaid.gov
• finaid.org
• hsf.net
• salliemae.com/college-planning
• edvisors.com
• gmsp.org

Federal Stafford Loans

Award Description: Federal need-based loan available to full- and part-time students. The Office of Financial Aid determines eligibility and loan amounts based on the student's financial need. Graduate students are eligible for the Unsubsidized Stafford Loan, and the student is responsible for the interest accrued during their period of enrollment.

Federal Graduate PLUS Loans (GradPLUS) 

Loan Description: Loan opportunity available to graduate students who do not have an adverse credit history. Graduate students may borrow up to the entire cost of attendance minus other estimated financial assistance.

Federal Work-Study

Program Description: Federal need-based employment award providing on- and off-campus employment opportunities. Most positions are with professionals in the field of the student's choice and are available on a first-come, first-serve basis.

Private Loans

Private loans are available to students through various lenders. SVA recommends that you evaluate all private loan options. Please contact our office for information on programs specifically designed for continuing education students.

How do I apply for financial aid?

All students must submit a Free Application for Federal Student Aid (FAFSA) as the first step in the application process. The fastest way to apply is online at FAFSA on the web at studentaid.gov. Don't forget to appropriately sign the certification page when you have finished the online application.

Do I need to be admitted before I apply for financial aid?

You should apply for aid as soon as possible after October 1. Only students accepted for admission will be considered for financial aid eligibility.

Do I have to apply for financial aid every year?

Yes, a new application is required every year. You will receive a FAFSA renewal application, either in the mail or if you filed online by way of an e-mail from the Department of Education. You may also complete a new FAFSA online at studentaid.gov or by picking one up in our office.

How is the FAFSA filed?

You can file your FAFSA online at studentaid.gov.

When should I file the 2020-21 FAFSA?

You can now submit your 2020-21 FAFSA form as early as October 1, 2019 using your 2018 tax information. You can file the 2020-21 FAFSA form online at studentaid.gov using your FSA ID login credentials to electronically sign.

What are SVA’s codes for federal and state aid programs?

The federal school code for SVA is 007468 and should be listed when filing your FAFSA. 

Our school code for New York State's Tuition Assistance Program (TAP) is 7858. This code should be listed when you file the NYS Express TAP Application.

Can I apply for financial aid for the summer?

Generally, any matriculating student attempting six or more credits during the summer semester may be eligible for aid. We encourage all students interested in summer assistance to contact a financial aid advisor.

I am an international student, am I eligible for financial aid?

Students who are attending college on a student visa do not qualify for federal and state Financial Aid. There are some alternative loans that you can apply for with a co-signer who is a U.S. Citizen. We also recommend applying for scholarships. You may research scholarship opportunities at iefa.org, a scholarship search engine that focuses on international students.

Where can I get more information about outside scholarships?

There are many useful scholarship search engines on the web. Here are just a few we recommend:

• fastweb.com
• scholarshiphunter.com
• bigfuture.collegeboard.org
• studentaid.gov
• finaid.org
• hsf.net
• salliemae.com/college-planning
• edvisors.com
• gmsp.org

When can I expect to receive an award offer?

Beginning March 1, our office will make every effort to send you an award letter within two weeks (depending on the time of year) of receiving your FAFSA results.

Where can I find my financial aid application processing/status?

• FAFSA on the Web
• FSA ID Site
• New York State Higher Education Services Corporation
• NSLDS
• IRS
• Social Security Administration
• Selective Service
• Federal Student Aid

What is the maximum annual borrowing limit for my Direct Stafford Loans?

The maximum annual borrowing limits for direct student loans are located at the Federal Student Aid website.

What is the difference in interest rates between the Federal Loan programs?

Interest rate comparisons for student loans can be found at studentaid.gov website.

If I decide to withdraw or take a leave of absence from SVA, is there anything I need to complete with the financial aid office?

You will need to complete loan exit counseling if you have received a Perkins Loan or a Direct Loan.

Frequently Asked Questions

Emergency Financial Aid Grant to Students

Under the Coronavirus Aid, Relief, and Economic Security (CARES) Act 

Overview

The Coronavirus Aid, Relief, and Economic Security (CARES) Act includes the Higher Education Emergency Relief Fund (HEERF), which provides more than $14 billion in emergency funding to higher education institutions across the country. Of those funds, more than $6 billion must go directly to students in the form of emergency financial aid grants (HEERF-student emergency grant funds) for expenses related to the disruption of campus operations due to the COVID-19 crisis. These FAQ’s are published to address some of the questions students may have.

Frequently Asked Questions and Answers

Q: Which students are eligible to receive HEERF-student emergency grant funds?

A: To receive HEERF-student emergency grant funds, students must be eligible to receive Title IV federal financial aid (e.g., Pell Grant, Direct Loans, etc.) and have incurred additional expenses due to campus disruptions due to the pandemic, such as food, housing, technology, course materials, health care, and childcare. After confirming a student meets these requirements, the institution retains discretion over which students will receive HEERF-student emergency grant funds and the amount of the award. 

Q: Are students required to have a Free Application for Federal Student Aid (FAFSA) on file in order to be eligible for the HEERF-student emergency grant funds?

A: In order to establish a student’s eligibility for HEERF funding, students must be able to demonstrate their eligibility for Title IV federal student aid. To do so, the College requires the student to complete a FAFSA application and meet the other related student eligibility requirements. In addition, the student must have qualifying expenses and be an active student in good standing. 

Q: What criteria was used to determine who receives the HEERF-student emergency grant funds?

A: Priority for the emergency grant was given to students who successfully completed a 2019-20 FAFSA by May 4, 2020 to ensure the funds go to those with the greatest need. To ensure those within that population with the greatest need received additional assistance, Pell recipients received a larger grant amount than non-Pell recipients.

Q: How much will I receive in the HEERF-student emergency grant assistance and when will it be disbursed?

A: Pell recipients received $1,300 and non-Pell recipients received $725. The funds were disbursed on 05/21/2020.

Q: What does the phrase “disruption of campus operations” mean?

A: This refers to any change in the way the College operates that resulted from its response to the COVID-19 pandemic. This includes, but is not limited to, the closure of the campus and the move to online instruction. It also includes the resulting lack of services available to students due to the campus closure.   

Q: Which students are not eligible to receive HEERF-student emergency grant funds?

A: International and Undocumented Students: In order to receive the HEERF-student emergency funds, the Department of Education states students must meet Title IV federal student aid eligibility requirements. Therefore, international and undocumented students are not eligible to receive HEERF-student emergency grant funds.

Distance Education/Online Students: Students who were enrolled exclusively in online programs on March 13 (the date of President Trump's national emergency proclamation) are not eligible for HEERF-student emergency grant funds, according to the Department of Education’s guidance.  

Q: Which expenses are the HEERF-student emergency grant funds for? And what can students use these funds for?  

A: HEERF-student emergency grant funds provide monetary assistance to students whose education has been disrupted because of the coronavirus global pandemic. The U.S. Department of Education has made the emergency grant aid available to students of institutions who need financial support for additional expenses related to the disruption of campus operations due to the COVID-19 outbreak, including things like course materials and technology as well as food, housing, health care, and childcare. For example, because the College changed to online courses, a student may have incurred expenses to purchase a web camera, printer, computer software, or faster internet service. 

Q: What do students need to do, or what type of application does the student need to complete to participate in the HEERF-student emergency funds?

A: There is no application process in order to receive the emergency grant. Our office determined eligible students who met the awarding criteria and notified those students with an email to their SVA email as well as their personal email on record. Students were given the option to opt out of receiving the emergency grant within five business days of receiving the email if they did not incur expenses as a result of the pandemic. If our office did not receive a signed and dated response from the student to that effect within five business days, we assumed that the student has incurred those expenses and will use the emergency grant towards them.

Q: Are there additional HEERF emergency grant funds available to students with higher expenses and special needs?

A: All funds have been exhausted at this time.

Q: How will the students receive the funds?

A: For those students receiving an emergency grant, they were provided the opportunity to sign up for E-refunds if they had not already done so to have their refund deposited directly into their US bank account. Students who had not signed up for direct deposit will receive a check mailed to their current address on file. 

Q: Does the HEERF emergency grant have to be repaid?

A: No, this is grant assistance and does not need to be repaid.