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Parsons The New School for Design
Scholarship DetailsGlossary of terms appearing in scholarship package details
Student Self-Help Self-help is the first portion of every student's need-based financial aid award and initially consists of a term-time job. Students may opt to use a student loan to substitute for all or part of the Federal Work-Study award. Students are free to use any combination of loans and term-time employment to meet this expected contribution; and the relatively modest student effort contribution - relative to total costs and relative to what most other colleges and universities in the U.S. expect - means that New School students, even if they choose to borrow, should graduate with manageable levels of indebtedness. The figure above for Federal Work-Study is an estimate based on average student schedules. Outside scholarships Outside scholarships may be used to reduce a student's work-study or loan contribution. Scholarships in excess of $5,000 will be used to reduce The New School grant. Health Insurance The New School requires all students to have health insurance, either through their parents or another plan. If the student is not covered by a parental plan, The New School grant will be increased to cover the student insurance plan. Other details The New School first considers a student's eligibility for other need-based financial support, including the Federal Pell Grant, the Academic Competitiveness Grant (ACG), the Federal Supplemental Educational Opportunity Grant (SEOG), state grants, and gift aid or tuition waivers from parents' employers, etc. The New School will then fund any remaining financial need with Parsons Scholarship. These figures illustrate expenses for students living in the dormitories or an apartment (not with parents). If a student commutes from a parent's home, the Cost of Attendance will be decreased as will The New School scholarship.
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