FINANCING YOUR EDUCATION
Recognizing the importance of access to education, the institution strives to create opportunities for talented individuals, regardless of their financial circumstances.
Pratt Munson is committed to providing ample financial support to its students through a combination of generous merit and need-based financial aid.
FAFSA Federal School Code: 002798
NYS TAP Code: 0615
*All Pratt Campuses use the same School Codes
Merit-based scholarships are awarded to students who demonstrate exceptional academic achievements and outstanding potential. Additionally, Pratt Munson also offers need-based financial aid, allowing students with limited financial resources the opportunity to pursue their educational aspirations. By investing in the success of its students, Pratt Munson aims to foster a diverse and inclusive community where all individuals can thrive and achieve their goals.
Pratt Munson takes great pride in its affordable tuition, which is notably lower than that of many other private art institutions. We are dedicated to providing substantial financial aid to our accepted students, with approximately 94% of our student body receiving some form of institutional assistance. Our diligent financial aid staff is committed to helping every student maximize their access to available financial aid opportunities.
Free Application for Federal Student Aid (FAFSA)
Students must complete a FAFSA each academic year to be considered for institutional and federal need-based grants, work study, and federal student loans.
It is highly recommended that students file their FAFSA between January 1 and March 1.
Who is Eligible?
Students must meet the following requirements to be considered for federal and state financial aid programs.
- Be a U.S. Citizen or an eligible non-citizen with an Alien Registration Number;
- Have a high school diploma or a recognized equivalency;
- Have a valid Social Security Number;
- Not be in default on an existing federal student loan;
- Maintain satisfactory academic progress
International students who do not meet the above requirements will still be considered for a Pratt Munson Merit Scholarship at the time of acceptance. Approximately 85% of our international students receive this type of scholarship.
Contact us to learn more about the many financial aid options available to you.
Financial Aid Timeline
1. Free Application for Federal Student Aid (FAFSA) Students must complete a FAFSA each academic year to be considered for institutional and federal need-based grants, work study, and federal student loans. It is highly recommended that students file their FAFSA between January 1 and March 1.
2. Verification A student's FAFSA may be randomly selected by the government for a verification process. Students who are selected for verification will be notified by the Financial Aid Office. All verification paperwork and required documentation should be returned by May 15.
3. New York State Student Aid Payment Application (NYS residents only) The NYS Student Aid Payment Application will be used to consider NYS residents for the Tuition Assistance Program (TAP). NYS requires that all students complete a FAFSA prior to completing this application. It is recommended that this application be completed by May 30.
4. Financial Aid Award Letter A student's aid eligibility will be finalized after all financial aid applications and required paperwork have been received by the Financial Aid Office. Students will receive their initial award letter by mail and any revisions will be emailed. Students are required to complete, sign, and return one copy of their award letter to the Financial Aid Office no later than June 1.
5. Financial Aid Appeals The appeal process allows students and/or their families to provide additional information to the financial aid office that may not be captured on the FAFSA. In some cases, a student and/or their family may have had a change in circumstances after their FAFSA had been submitted. Students can communicate these special or unusual circumstances by completing an appeal form and providing documentation to support their appeal
Examples of circumstances that may be considered:
- Loss of employment (involuntary)
- Reduction in income (job change, disability, illness, etc.)
- Substantial medical expenses exceeding 11% of adjusted gross income
- Death of a parent
- Loss or reduction of benefits
- Request to be considered an independent student (ex: parental abandonment, abusive family environment, legal custody of someone other than biological parents).
Examples of circumstances that may not be considered:
- Request to match a financial aid offer from another school
- Request to exclude stepparent income on your FAFSA
- Parent is also attending college
- High debt-to-income ratio
- Failed business or real estate investments
- Inability to liquidate assets
Students that would like to submit an appeal may email our office at firstname.lastname@example.org and request an appeal form. Completed forms should be submitted no earlier than March 15. Students will receive an appeal decision no later than April 15.
Student Accounting / Forms
The Pratt Munson Student Accounts Office Makes Billing Easy. The Student Accounts office provides a variety of services including billing of tuition and other charges, collecting payments, and disbursement of financial aid refunds according to Federal, State, and Institute policies. In addition, the office also provides 1098-T tax forms to eligible students.
Contact the Bursar:
Phone: 315-797-0000 ext. 2174
Fall Tuition is due July 15, 2023.
Fall Bills will be mailed by June 15, 2023.
Spring 2024 Tuition is due January 5, 2024.
Debit and/or credit card payments can be made online through our Nelnet payment portal.
Check payments or money orders can be made payable to Pratt Munson and mailed to:
Office of Student Accounting
310 Genesee Street Utica, NY 13502
(Please include the student’s name and/or ID number on the check)
International tuition payments
can be securely using Flywire. Students are offered favorable conversion rates unmatched by larger financial institutions and are able to pay from any country while saving a significant amount of money on their payments.
Monthly Payment Plan
A tuition payment plan is offered to parents and/or students who would like to finance their education throughout the academic year. The student’s remaining costs are divided into 10 monthly payments (5 payments per term). An initial $85 enrollment fee is required to participate. Click here to learn more.
A tuition insurance plan helps students and their families overcome the financial losses that may result when a student withdraws due to a covered medical reason. Pratt Munson has partnered with GradGuard to make a tuition insurance plan available to our families.
Learn more about this optional offering by clicking here or watching the below video.
The deadline to apply for tuition insurance is the day before the first day of classes each semester.
Cost of Attendance
Our tuition savings, generous financial aid, and easy payment options should certainly factor into your decision to attend Pratt Munson. We provide an exceptional education and Pratt prestige, but with considerably less expensive tuition.
Pratt Munson Refund Policy
No reduction in liability is available to students who withdraw except when approval is given by the proper authorities. Students who wish to withdraw must complete the official withdrawal form available in the Registrar’s office. Tuition refunds are determined by the date the add/drop or complete withdrawal form is signed by the Registrar.
For all students, the following course withdrawal penalty schedules apply:
For the Fall and Spring Academic Year:
- Full Refund, Withdrawal prior to and including the opening day of the term
- 85% Tuition Refund
- Withdrawal from the 2nd through the 8th day of the term
- 70% Tuition Refund
- Withdrawal from the 9th through the 15th day of the term
- 55% Tuition Refund
- Withdrawal from the 16th through the 22nd day of the term
- No Refund
- Withdrawal after the 22nd day of the term
Consider tuition insurance to supplement and strengthen our refund policy. Learn more at GradGuard.com/Tuition/mwpai or call 877-794-6603.
Net Price Calculator
Welcome to Pratt Munson’s First-Year Net Price Calculator! Using our net price calculator will allow you to estimate the cost of your education at Pratt Munson. You will be asked to grade your portfolio, indicate your high school GPA, and provide family income and household information.
Please keep in mind that this tool is only a guide to help you plan for your college costs. Students will receive an official financial aid award letter once they have been accepted to Pratt Munson and completed their Free Application for Federal Student Aid (FAFSA).
PLEASE NOTE: This calculator is only for U.S. citizens and permanent residents.
Financial Aid Options
Pratt Munson Merit Scholarship
A student’s eligibility is determined based on their application materials that were submitted at the time of acceptance. Students must maintain a 2.5 cumulative GPA at the end of their first year to maintain for the sophomore year. This award does not need to be repaid.
A student’s merit scholarship eligibility is reevaluated when relocating to the Brooklyn campus. Eligibility will be based on the student’s cumulative GPA at the end of the first semester of their sophomore year at Pratt Munson. For a complete breakdown of GPAs and scholarship amounts please click here.
Pratt Munson Grant
Eligibility is based on a student’s remaining financial need after all other financial aid has been awarded. This award does not need to be repaid.
Federal Pell Grant
A need-based grant awarded by the federal government. Eligibility is based on the amount of financial need demonstrated on the student’s FAFSA. This award does not need to be repaid.
Federal Supplemental Educational Opportunity Grant (SEOG)
A need-based grant also awarded by the federal government, and is awarded to students that demonstrate exceptional financial need. This award does not need to be repaid.
NYS Tuition Assistance Program (TAP)
Awarded to New York State residents who demonstrate financial need. Students are required to complete the New York State Student Aid Payment Application to be considered for this grant. This award does not need to be repaid.
Federal Work-Study Program
Work study eligibility is a need-based work program and is offered to students who show exceptional financial need. Students maintain a part-time job on campus while enrolled at Pratt Munson. Students are paid New York State minimum wage and will receive a bi-weekly paycheck. These funds are not earned upfront and are not applied to your college tuition bill. Funding for this program is limited and will be offered on a first-come basis. Eligible students will be offered work-study on their Financial Aid Award Letter. Students must maintain a 2.0 GPA at the end of each semester to remain eligible for Federal Work Study.
Federal Student Loans
Low-interest loans are offered by the federal government. Students must complete a FAFSA to be considered eligible for all federal loans. All students who borrow a federal student loan will be required to complete a Master Promissory Note and Entrance Counseling Session at StudentAid.gov. Students will be notified by the Financial Aid Office when these requirements are available.
- Federal Direct Subsidized Loan: Offered to students based on financial need. Interest rates are fixed at 5.50% for loans disbursed on or after July 1, 2023. Interest does not accrue while the student is in school. Repayment begins six months after the student graduates or stops attending. Maximum loan amounts are $3,500 for first-year students and $4,500 for sophomores.
- Federal Direct Unsubsidized Loan: Offered to students regardless of financial need. Interest rates are fixed at 5.50% for loans disbursed on or after July 1, 2023. Interest does accrue while the student is in school. Repayment begins six months after the student graduates or stops attending. Maximum loan amounts are $5,500 for first-year students and $6,500 for sophomores. An additional $4,000 is available to independent students or to dependent students whose parents have been denied the Federal Direct Parent PLUS Loan.
Federal Direct Parent PLUS Loan
Offered to the parent of a dependent student, so they may bridge the gap between a student’s financial aid eligibility and their total cost of attendance. Interest rates are fixed at 8.05% for loans disbursed on or after July 1, 2023. Parents are required to complete a separate loan application that requires a credit check. This loan is not based on financial need and can cover up to the student’s entire cost of attendance. Interest does accrue while the student is in school. Repayment begins after the loan has been fully disbursed. Parents do have the option to defer repayment while the student remains in school, however, they must contact their loan servicer and request a deferment once the loan has entered repayment. Parents should email the Financial Aid Office if interested in this option.
Alternative Student Loan
A loan that is designed to help students meet their college costs after all other types of aid has been awarded. There are several lenders that offer students the opportunity to borrow loan funds; however, a credit-worthy co-signer is usually required. Cosigners can be a parent, relatives, family friends, etc. The lender determines the interest rate. Students can apply for a fixed or variable interest rate when completing the loan application. Interest will begin accruing at the time of disbursement. Students can choose to begin repayment after graduation or immediately. Please click here to research available loan lenders and their online loan application instructions.
Nelnet Monthly Payment Plan
A tuition payment plan is available for students that would like to finance their education interest-free throughout the academic year. The student's remaining annual balance is divided into 10 monthly payments over the academic year. Payments are due on the 15th of each month starting in July and ending in April. There is an $85 annual set-up fee that is due upon enrolling in the online monthly payment plan.
Financial aid exists beyond the many opportunities available through Pratt Munson. Below are some of them:
Veterans' Educational Benefits
The Department of Veterans Affairs administers a variety of education benefits programs. The most common benefit program used is the Post-9/11 GI Bill for dependent children. The Department of Defense may also allow eligible veterans to transfer educational benefits to dependent children. Benefits can be applied to tuition, fees, housing, and books/supplies. For more information regarding eligibility, please click here.
New York State ACCESS_VR
Vocational Rehabilitation provides a full range of services and financial assistance to help eligible individuals with disabilities meet their career goals. For further information, students should contact the nearest district office of Adult Career and Continuing Education Services-Vocational Rehabilitation. District office locations can be found here.
NYS Scholarship for Academic Excellence
This program provides scholarship assistance to outstanding New York State high school graduates. Students must have graduated from a New York State high school, be matriculated full time at an institution located in New York State, be in good academic standing, be a US citizen or qualifying non-citizen, and not be in default of a student loan. Students should contact their high school guidance counselor to apply.