The New School
New York, New York · Private Nonprofit · 63.5% acceptance rate
ROI Score: 40/100 · Poor Value
The New School lands at an ROI score of 40, firmly in the Poor Value tier. The math behind that score is straightforward and unflattering: net price runs $58,741 per year (essentially identical to the $58,694 sticker tuition), pushing four-year cost to roughly $234,964, while median earnings six years after entry are only $41,300 and ten-year earnings climb to just $52,901. The Scorecard payback period is 20.9 years, meaning a typical graduate's earnings premium does not recoup the cost of attendance until roughly two decades after enrollment. The 69.4% completion rate is the one genuine strength in the file and contributes the highest sub-score (77). Debt-to-earnings sits at 0.539 on a $22,266 median debt load, which is moderate, but the underlying problem is not that students borrow heavily, it is that the school's signature arts and design programs produce graduates whose early-career earnings simply do not justify a private-NYC sticker price. With an earnings-premium sub-score of 15, this is a case where the credential is largely a consumption good rather than an investment.
The data raises concerns about The New School
These metrics fall below the thresholds most financial advisors recommend for a sound college investment. Review them carefully before committing.
- ROI Score40/100 - Poor Value tier (below 45). Most 4-year schools we track score 60 or higher.
- Payback period20.9 years - Most 4-year schools we track have payback periods of 4-10 years.
The New School
Quick Numbers
| In-state tuition + fees | $58,694/yr |
| Out-of-state tuition + fees | $58,694/yr |
| Average net price | $58,741/yr |
| Total 4-year cost (net) | $234,964 |
| Median earnings (10yr post-entry) | $52,901 |
| Median earnings (6yr post-entry) | $41,300 |
| Median debt at graduation | $22,266 |
| Estimated monthly loan payment | $236 |
| Estimated payback period | 20.9 years |
| 6-year graduation rate | 69.4% |
| Undergraduate enrollment | 6,563 |
Data as of 2024-2025. Source: College Scorecard API (U.S. Department of Education).
The Full Financial Picture
The sticker price at The New School is $58,694/year. But sticker price isn't what most students pay. After grants, scholarships, and financial aid, the average student pays a net price of $58,741/year, or roughly $234,964 over four years.
That net price varies significantly by family income. The lowest-income families (under $30,000/year) pay an average of $50,140/year, while families earning over $110,000 pay $64,738/year.
The median graduate leaves with $22,266 in federal loan debt, translating to an estimated monthly payment of $236 on a standard 10-year repayment plan. Against median earnings of $52,901 ten years out, the debt-to-earnings ratio is 0.54 - within the recommended range but worth monitoring.
Net Price by Family Income
What families actually pay after grants and scholarships, by income bracket.
| Family Income | Avg Net Price/Year |
|---|---|
| $0 - $30,000 | $50,140 |
| $30,001 - $48,000 | $52,812 |
| $48,001 - $75,000 | $56,494 |
| $75,001 - $110,000 | $59,894 |
| $110,001+ | $64,738 |
Cost by Income Bracket Explained
Lower-income families (under $30K)
Families earning $0-30,000 face a published net price of $50,140 per year, or about $200,560 across four years. Against $41,300 median six-year earnings, the math does not work without external scholarships, and the inverted-ish gap between net price and 6-year earnings should be a clear warning to first-generation applicants. Pell at 15% suggests the school enrolls relatively few low-income students.
Middle-income families ($30K-$110K)
Middle-income households (roughly $48,001-110,000) pay between $56,494 and $59,894 net per year. Four-year cost lands at $225,000-$239,000, and the school's $52,901 ten-year earnings number means the cost-to-earnings spread stays badly inverted well into a graduate's 30s. Middle-income families taking on Parent PLUS to bridge this gap should price the decision very carefully.
Higher-income families ($110K+)
Households above $110,000 are quoted $64,738 per year net, the highest bracket, putting full cost near $259,000. This is the only income tier where the school's net-price model is internally coherent (aid scales down as income rises), but it is also the tier where the question is no longer affordability but opportunity cost: is a Poor Value tier degree the right use of a quarter-million dollars?
Earnings by Major
Top 10 most popular majors at The New School with available earnings data.
| Major | Median Earnings | Grade |
|---|---|---|
| Design and Applied Arts | $56,838 | F |
| Computer Software and Media Applications | $75,792 | D |
| Arts, Entertainment, and Media Management | $74,936 | C |
| Music | $32,930 | F |
| Film/Video and Photographic Arts | $48,557 | F |
| Fine and Studio Arts | $42,798 | F |
| Liberal Arts and Sciences | $62,976 | D |
| Drama/Theatre Arts and Stagecraft | $39,248 | F |
| Communication and Media Studies | $49,489 | F |
| Psychology | $38,181 | D |
Earnings reflect median 4-year post-completion (or 1-year where 4-year unavailable). Grades based on debt-to-earnings ratio.
Program Analysis
Why these programs deliver their earnings outcomes.
Design and Applied Arts
Design and Applied Arts is by far the largest program at 496 graduates and the school's signature offering through Parsons. The ROI grade is F: median debt of $26,000 against $24,804 first-year earnings yields a debt-to-earnings ratio above 1.0, and even at the four-year mark earnings reach only $56,838. Parsons carries real industry pull in fashion and product design, but the data say that for the median graduate, the credential does not pay back on a reasonable timeline.
Computer Software and Media Applications
The Computer Software and Media Applications track produces 186 graduates with $29,550 in first-year earnings climbing to $75,792 by year four, the strongest four-year number in the file. Debt-to-earnings of 0.863 still earns a D, but the earnings trajectory is the most encouraging at the school and suggests students who can bridge the early-career dip do reach a defensible payoff.
Arts, Entertainment, and Media Management
Arts and Media Management graduates 139 students with $37,743 first-year earnings and $74,936 by year four, yielding a C grade and the cleanest ROI in the catalog. Debt-to-earnings of 0.662 is workable, and the program effectively channels the school's NYC industry network into business-side roles that pay early.
Music
Music graduates 111 students and posts the worst outcome on file: $12,109 first-year earnings, $32,930 at year four, and a debt-to-earnings ratio of 1.982 on $24,000 of debt. This is an F grade with no ambiguity. The conservatory experience may be valuable on its own terms, but no defensible ROI calculation supports the $235,000 sticker for this outcome.
Film/Video and Photographic Arts
Film/Video and Photographic Arts produces 84 graduates earning $21,523 in year one and $48,557 by year four. Debt-to-earnings of 1.2 on $25,829 of debt is an F grade. Like Music and Drama, this is a portfolio program where the degree's financial return is genuinely poor and the non-financial case (network, mentors, NYC access) has to carry the decision.
How Graduates Do
Earnings
Loan Repayment
| Metric | This School | Nat'l Avg |
|---|---|---|
| 1-year repayment | 66.5% | 52.0% |
| 3-year repayment | 72.0% | 62.0% |
| 5-year repayment | 69.4% | 68.0% |
| 7-year repayment | 71.9% | 72.0% |
Completion Rate
Admissions Snapshot
| Acceptance rate | 63.5% |
| Enrollment | 6,563 |
| Pell Grant recipients | 15.0% |
| Avg faculty salary (monthly) | $13,417 |
The New School admits 63.5% of applicants, which puts it in the moderately selective band. SAT and ACT mid-ranges are not reported, consistent with the school's heavy emphasis on portfolio review for its design and arts programs. A 63% admit rate combined with a 69% completion rate suggests the screen is real but not punishing, and that admitted students tend to finish, even if their financial outcomes after graduation are weak.
Compared to Similar Schools
Peer institutions matched by type, size, and selectivity.
The New School's peer set (Adelphi University, Albany College of Pharmacy and Health Sciences, Franklin University, Colorado Christian University, and Wilmington University) is uneven as a benchmark, but instructive. Albany College of Pharmacy posts dramatically stronger earnings on a comparable price, and Adelphi typically scores higher on completion and earnings premium. The pre-professional peers (Franklin, Wilmington) generally beat The New School on debt-to-earnings because their working-adult graduates are already earning before they enroll. None of the peers carry The New School's NYC arts-school price tag, which is the core driver of the 40 score.
| School | ROI | Net Price | 10yr Earnings |
|---|---|---|---|
| The New School (this school) | 40 | $58,741 | $52,901 |
| Albany College of Pharmacy and Health Sciences | 94 | $29,882 | $131,426 |
| Adelphi University | 75 | $30,783 | $75,482 |
| Wilmington University | 51 | $15,644 | $53,844 |
| Franklin University | 37 | $25,243 | $51,892 |
| Colorado Christian University | 34 | $29,500 | $50,416 |
Who Thrives Here
Enrollment is around 6,563, Pell rate is only 15.0%, and the student profile skews affluent, urban, and arts-focused. This is the right environment for a student who has the family resources to absorb roughly $235,000 of cost and views the NYC creative network as the actual deliverable. It is the wrong environment for a price-sensitive student who needs the degree to pay for itself, since the data show that for the typical graduate it does not. Strong outcomes here cluster among students entering Arts/Entertainment Management and similar programs that connect to industry.
The Verdict: The Numbers Don't Add Up
The financial data raises serious concerns about The New School. With a net cost of $58,741 per year and median graduate earnings of only $52,901 ten years out, the estimated payback period exceeds 20.9 years. For most students, the financial return does not justify the cost.
Key strengths include a 69.4% graduation rate. However, the data also shows weak earnings relative to cost and a long payback period.
Median debt of $22,266 against $52,901 in earnings is reasonable, though major choice matters significantly. Students in higher-earning programs will see better returns.
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Data: College Scorecard API (U.S. Department of Education)
Vintage: 2024-2025 · Last updated: 2026-03-25
Earnings reflect median outcomes for all federal financial aid recipients. Individual results vary by major, effort, and career path.