Among them are scholarship programs such as Military Service Recognition Scholarships and Veterans Tuition Award. Notably, 69% of the students at New York Film Academy get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $3,526,372. Notably, a total of 21% of the applicants to New York Film Academy receive the Federal Grant every year. Meanwhile, 66% of the applicants receive the Student Grant and 62% are awarded the Institution Grant, while 21% of the students get the Pell Grant. Moreover, the average aid amount for Federal Grant awardees stands at $9,837, while the same comes to $6,000 for State Grant receivers and $8,563 for Institution Grant awardees. And, for the Pell Grant awardees, the average aid amount is $6,874. Among other things, the annual family income of the applicant plays a major role in determining the total financial aid they are actually eligible to receive. In addition to financial grants and scholarship schemes, students can also avail of monetary benefits like student loans to pay for their education. In contrast to grants and scholarships, student loans are taken by the candidates at a certain rate of interest. Moreover, the funds received through these loans will have to be repaid within a given timeframe. At NYFA, an estimated number of 30% of the applicants choose to go for student loans.