Sotheby's Institute of Art-New York offers full-time degree students financial assistance through both need-based financial aid and merit-based scholarships. U.S. citizens may also participate in several loan programs. Institutional scholarships and financial assistance, in the form of partial-tuition awards, is intended to provide assistance to students in paying their tuition and fees; it will not fully fund the cost of attending.
Acceptance to Sotheby’s Institute of Art is a prerequisite for the awarding of financial support. Applicants for financial support must have completed the application process and been accepted into their program of choice.
Financial Assistance grants range from $1,000 to $6,000 per term. Admitted students applying for financial assistance are required to fill out an application which asks basic information regarding their financial position. Financial need will be assessed by guidelines provided by the US Department of Education regarding Cost of Attendance (COA) and Expected Family Contribution (EFC). Applications will be reviewed by the Admissions and Financial Aid Committee as part of the rolling admissions process.
How to Apply
Once accepted into a degree program, you will receive the Institute’s Financial Assistance application form. US citizens must also complete the online application for FAFSA; include Sotheby’s Institute federal school code: G41798.
International students must submit a bank letter (on bank letterhead) including the following information: type of account, name of account holder, balance, and date opened.
When to Apply
Applicants are urged to complete and submit their applications for financial assistance by March 1, 2019. The Institute will accept later applications, however, funds are limited and awarded on a first-come, first-served basis as part of the rolling admissions process. For any questions about financial assistance, please contact firstname.lastname@example.org.
Accepted students who demonstrate strong academic merit (average GPA of 3.5 or above, or its equivalent) or have previous work experience in the art world are eligible to apply for a scholarship. Scholarship amounts typically range from $1,000 - $6,000 per term. Students must complete an application form answering three questions from our faculty in essays of 300 words each. The form to apply for scholarships will be sent to accepted students who are eligible, upon request. Applications will be reviewed by the Scholarship and Financial Assistance Committee as part of the rolling admissions process.
Lynne Newman Scholarships
Sotheby’s Institute of Art-New York is pleased to offer scholarships named in honor of Lynne Newman, a passionate patron of the arts and lifelong supporter of art education.
Five Lynne Newman Scholarship awards of $20,000 each (disbursed over the course of three semesters) are available to candidates based on merit and/or financial need.
How to Apply
To be considered, candidates must complete their full admissions application by March 1 of the relevant year along with an additional 1,000-word essay on a topic determined by faculty as well as the Financial Assistance grants form. Applications will be reviewed by the Scholarship and Financial Assistance Committee which will inform candidates of their awards by May 1. Recipients of a Lynne Newman Scholarship are not eligible to receive other grants or scholarships.
US Federal Loans
Sotheby’s Institute of Art-New York students who are US citizens are eligible for the William D. Ford Direct Student Loan program and for the Direct PLUS Loan program. Student and PLUS loans are unsubsidized. Students are responsible for the interest on an unsubsidized loan from the time the loan is made. No payments are required on any federal student loan until 6 months after a student leaves school or if he/she enrolls in fewer than 6 credits. If possible, students may want to pay accrued interest on an unsubsidized loan while enrolled; if not, the interest that accrues while in school is added to the amount owed upon graduation. An unsubsidized student loan is not based on need; students who wish to borrow additional money beyond tuition and fees may do so.
The Institute has established a Virtual Financial Aid Office to assist in applying for Federal student loan programs. The VFAO provides both an overview of federal assistance and a detailed guide to the application process.
How to Apply
There are three steps in the loan application process:
- Complete and submit the Sotheby’s Institute Financial Assistance application form (available upon request for accepted students).
- Complete and submit a Free Application for Federal Student Aid.
- Visit the VFAO and complete the loan application form.
When to Apply
Applications for US Federal Loans for the 2019-20 academic year will be available beginning January 1, 2018.
For Additional Information and Assistance
The Institute and VFAO staff are dedicated to serving all students’ needs and helping every student obtain the financial assistance needed to achieve educational goals.
For any questions about federal loan programs, please call the VFAO at 877.906.1723.
For information about institutional grants and merit awards, or to discuss the cost of attending, contact the Institute via email at email@example.com.
Post 9/11 Veterans Education Assistance Act of 2008
Effective August 30, 2011 Sotheby’s Institute of Art is approved for the training of veterans and immediate family members in accordance with the Provisions of Section 3675, Title 38, US Code. Applicants will be deemed eligible by the Department of Veterans’ Affairs. Please visit gibill.va.gov for more information.