The New School
New York, New York · Private Nonprofit · 63.5% acceptance rate
ROI Score: 40/100 · Below Benchmark
Data: 2024-25 College Scorecard release
The New School lands at an ROI score of 40, firmly in the Below Benchmark 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 average earnings six years after entry are only $41,300 and median 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 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.
How The New School scores under our methodology
These are the College Scorecard measures that pull this school's CampusROI score down. They describe the published figures, not the quality of the education, and they are our reading of the data. Check them against your own aid offer and intended major.
- ROI Score40/100 - Below Benchmark tier of our scale (below 45). For context, 38% of the schools we score reach 60 or higher.
- Payback period20.9 years - The median payback across the schools we score is about 12 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 |
| Average 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 first number you'll see is the sticker price: $58,694/year, which covers tuition and fees only. The net price counts books, supplies, and average living costs on top of tuition and fees, then subtracts grants and scholarships. For the average student here it comes to $58,741/year, or roughly $234,964 over four years. That's the number to plan around.
What you actually pay depends a lot on what your family earns. Families making under $30,000/year pay an average of $50,140/year here, while families earning over $110,000 pay $64,738/year.
Among graduates who borrowed, the median federal loan debt from this school is $22,266, which works out to about $236 a month on the standard 10-year repayment plan. Our debt-to-earnings ratio divides that debt by average earnings six years after entry ($41,300) and comes to 0.54, under 1.0, meaning median debt is less than a full year of those earnings.
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 average 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 the Below Benchmark 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
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.
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. 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 the program's earnings are low against the $235,000 sticker.
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 | Median of schools we score |
|---|---|---|
| 1-year repayment | 66.5% | 68.8% |
| 3-year repayment | 72.0% | 73.6% |
| 5-year repayment | 69.4% | 67.7% |
| 7-year repayment | 71.9% | 72.8% |
Completion Rate
Trends Over Time
How The New School’s cost and outcomes have moved across College Scorecard releases (2009-2024).
Average Net Price
Completion Rate
Median Earnings, 10 Years After Entry (as reported)
Earnings reflect borrowers measured 10 years after entry and publish on an irregular cadence with a multi-year reporting lag, so this series shows only the years the Department of Education reported - the data is never interpolated.
Source: U.S. Department of Education College Scorecard, release years shown. Net price and completion are reported annually.
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, 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.
| 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: Below Benchmark Under Our Scoring
Under our methodology, The New School scores 40/100, which falls in the Below Benchmark tier (below 45). At a net price of $58,741 per year, with typical graduate earnings of $52,901 ten years after entry, we estimate the payback period at about 20.9 years. In our view that makes the financial case a hard one to make on the numbers alone, but those numbers are averages: your major, your aid package and what you want from a degree all change the picture, so run your own numbers before you commit.
What it has going for it: its 69.4% graduation rate. What to keep an eye on: weak earnings relative to cost, a long payback period.
Median debt of $22,266 among graduates who borrowed, against average earnings of $41,300 six years after entry, gives a debt-to-earnings ratio of 0.54, under the 1.0 point at which debt would equal a full year of those earnings. Your major matters a lot here: graduates in higher-earning fields will see the better end of this.
The New School: Common Questions
Is The New School worth it?
In our view, the financial case is a hard one to make on the numbers alone. The New School scores 40/100 on our ROI scale, in the Below Benchmark tier (below 45). At $58,741 a year after aid against $52,901 in typical earnings ten years out, we estimate the payback period at about 20.9 years. Your major and aid package can change the picture, so run your own numbers.
How much does The New School cost after financial aid?
The average net price - the cost of attendance (tuition, fees, books, supplies and average living costs) minus grants and scholarships, for full-time, first-time students receiving federal aid - is about $58,741 a year, or roughly $234,964 over four years. Because it counts living costs, it can run above tuition alone. That is the number to plan around. Actual cost varies by family income, per the U.S. Department of Education's College Scorecard.
What do The New School graduates earn?
The typical graduate earns about $52,901 ten years after enrolling, roughly $11,101 a year more than the median high-school graduate ($41,800, per NCES, 2022). That earnings gap is what has to cover the cost of the degree.
How long does it take to pay off The New School?
We estimate the payback period - the time it takes for the earnings bump over a high-school graduate to cover what you spent - at about 20.9 years for The New School. The median across the schools we track is about 12 years.
How much debt do The New School graduates take on?
Among graduates who borrowed, median federal loan debt from this school is about $22,266, against average earnings of $41,300 six years after entry - a debt-to-earnings ratio of 0.54. In our view that is reasonable, though your major matters: higher-earning fields will see the better end of it.
What is the graduation rate at The New School?
The six-year graduation rate is 69.4%, at or above the 64% national average for four-year schools (NCES, 2022). Completion is 15% of our ROI score, since a degree you don't finish rarely pays back.
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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.