Sotheby's Institute of Art-New York offers full-time students financial assistance through both need-based and merit-based aid; US citizens may also participate in several federal loan programs.
Acceptance to Sotheby’s Institute of Art is a prerequisite for the awarding of financial assistance. Applicants for financial assistance must complete and submit the Application for Admission prior to their financial assistance application and must complete all aspects of the admissions process, including the interview, prior to consideration for an award.
Sotheby’s Institute of Art Scholarships and Financial Assistance
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. Both financial need and academic merit will be taken into account by the Scholarship and Financial Assistance Committee. Financial need will be weighted more heavily in the determination of grants while academic merit/professional accomplishment will receive more emphasis for merit awards.
Lynne Newman Scholarships
Sotheby’s Institute of Art-New York is pleased to offer five scholarships named in honor of the family of Lynne Newman, a passionate patron of the arts and lifelong supporter of art education. The scholarships are $20,000 each and will benefit MA students beginning their studies at Sotheby’s Institute of Art-New York in the fall of 2018. Scholarships will be awarded based on merit and financial need and credited directly towards tuition fees. In order to be considered, you must submit your full application to the admissions committee by July 9th. Scholarship awards will be announced by July 31st. Those that have already applied for scholarships and financial aid will automatically be considered for this scholarship program.
How to Apply
Applicants accepted into the program will be sent the Application for Financial Assistance. Funds are limited and awarded on a first-come, first-served basis. Therefore, applicants are encouraged to submit the online application before the priority deadline. For more information please contact: Anupama Chakravartti at email@example.com
US Federal Loans
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 a Virtual Financial Aid Office for applying to Federal student loan programs. Completion of the loan application form on the VFAO website is required in order to be considered for federal aid. The VFAO also provides an overview of federal assistance and a detailed guide to the application process.
How to Apply
William D. Ford Direct Student Loan program
There are three steps in the loan application process:
1. Complete and submit the Institute’s Financial Assistance application form. Please email firstname.lastname@example.org for the 2018-2019 form.
2. Complete and submit a Free Application for Federal Student Aid.
3. Visit the VFAO and complete the loan application form. Completion of the VFAO loan application form is required in order to be eligible for federal loans. Failure to complete the application on the VFAO website could significantly delay your student loans (VFAO will be available in April 2018).
US citizens must also complete the online application for FAFSA. Our federal school code number is G41798.
Direct Plus Loan
Please visit studentloans.gov for information about completing this application.
When to Apply
Applications for US Federal Loans for the 2018-19 academic year will be accepted through June 29, 2018.
International (non-US) students can apply for loans through their country of citizenship. Non-US students may consider applying for private bank loans.
Additional Information and Assistance
For information about institutional grants and merit awards or to discuss the cost of attending, contact the Institute via email at email@example.com.
If you are pursuing a degree in New York or London, you are eligible to obtain a private loan through Sallie Mae. For more information, visit www.salliemae.com.
Post 9/11 Veterans Education Assistance Act of 2008
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 www.gibill.va.gov for more information.
Frequently Asked Questions
Which application(s) do I need to complete?
All applicants for financial assistance must complete the institutional Financial Assistance Application form (available soon). U.S. citizens should file the FAFSA online at www.fafsa.ed.gov.
Are International students eligible for financial assistance?
Non- US citizens can apply for the Institute’s scholarships and grants only. Federal aid-eligible non-citizens should file the FAFSA online at www.fafsa.ed.gov.
What is the Institute’s six-digit federal school code (for FAFSA)?
Our federal school code number is G41798.
How can I get information about my financial assistance award?
You will be notified by email soon after we have entered your financial assistance award into your student account. We'll also notify you promptly if your award changes for any reason.
Do I have to reapply for financial assistance every year?
Student Financial Services sends out reminders regularly, but it is your responsibility to complete a new financial assistance application prior to each academic year.
With whom can I speak if I have a problem with or question about my account in general or a particular bill?
Any questions about your account or a particular bill should be directed to our Finance Department firstname.lastname@example.org.
How can I pay my student account balance?
Payments can be may be made by check, credit card, or electronic transfer.
Checks should be made payable to: Sotheby's Institute of Art – NY
Please include the student’s name and the name of the degree program on the check, and send it to:
Sotheby's Institute of Art
570 Lexington Avenue
New York, NY 10022
Attn: Department of Finance
All checks should be drawn on a US bank account and be in US dollars.
By Electronic Transfer
If paying by Electronic Transfer, please add $25 to the total payment to cover incoming wire fees. Failure to do so could result in delays in the processing of your payment.
By Credit Card
You may charge your deposit (non-refundable and non-transferable) on Visa, MasterCard or American Express by contacting our Finance Department at (212) 897-6642. Please note that an administrative fee of 3% will be added to payments made via credit card. For additional information contact our Finance Department at (212) 897-6642 or by email at email@example.com.
Where will my invoice be mailed?
In an effort to offer greater access to invoice and payment information, as well as reduce our impact on the environment, Sotheby’s Institute of Art – New York utilizes electronic invoices. Students do not receive a paper invoice at their official mailing address and will instead receive a notification at their Sotheby’s Institute of Art – New York e-mail account when an invoice is ready to be viewed.
When are tuition and fees payments due?
Invoices for the fall semester are emailed in June with a payment due date of July 31, 2018 and invoices for the spring semester are emailed in November with a payment due date of December 14, 2018.
What if I need additional copies of my bill?
Contact our Finance Department at (212) 897-6642 or by email at firstname.lastname@example.org.