There are many types of financial aid available to students of Firm Schools in NYC. All schools will require a family requesting FA to fill out an FA application and submit supporting paperwork such as tax forms to verify eligibility, though again many schools do not have an income cut off mark, so if you are in doubt, apply anyway.
One of the first types of financial aid available is a Need Based Grant:
Most schools will offer need based grants to students and families to enable students to attend, regardless of the family’s income, as long as the student qualifies for acceptance and has found the right match in that school. These grants do of course require an application and supporting documentation to verify income and determine the family’s ability to contribute to tuition. Families with a demonstrated need may be provided with a grant to decrease the burden of tuition. These grants can cover both tuition and accompanying expenses, but are not guaranteed to cover the entire tuition. The family is expected to contribute to costs depending on their financial situation. The contributing costs are often assessed on a sliding scale based.
Need based grants do not need to be paid back to the school. These are not a loan. The money for these grants comes directly from the school’s financial aid budget. Grant amounts can vary considerably, mostly based upon the school’s budget, it’s tuition costs, and it’s general philosophy in awarding aid to student families.