Students can avail of scholarships provided by the school, such as Aid to Native Americans, Albert E. Wischmeyer Memorial Scholarship, Military Service Recognition Scholarships, and New York State Scholarship for Academic Excellence, if they find educational expenses to be on the higher side. Notably, 91% of the students at The New School get some kind of financial aid every year, and the total amount of assistance/loans provided adds up to around $14,095,848. Notably, a total of 17% of the applicants to The New School receive the Federal Grant every year. Meanwhile, 91% of the applicants receive the Student Grant and 91% are awarded the Institution Grant, while 17% of the students get the Pell Grant. Furthermore, the average aid for the Federal Grant receivers is $5,605, and the same stands at $3,291 for State Grant awardees and $18,053 for Institution Grant recipients. On the other hand, the average aid received by the Pell Grant awardees is $4,709. 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. Alternatively, the candidates can also avail of monetary benefits like student loans, apart from financial grants and scholarship schemes to pay for their studies. 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 TNS, an estimated number of 34% of the applicants choose to go for student loans.