Tuition and Payment Options at New York Audio Institute
Tuition and payment options
How much does it cost to study at NYAI, and can I spread the payments out?
Both are fair questions. You should be able to see the real numbers before you decide whether a program works for you.
For the full Audio & Music Production and Music Business programs, $14,000 is the starting price. Pay in full and it comes down to $13,300. Spread the cost through internal financing and the total goes above $14,000 because you are paying interest.
Let's look at each program first.
How much is each program?
Audio & Music Production
Program fee: $14,000
Good to know: Pay $13,300 in full or apply for one of the installment options below.
View Audio & Music Production program
Six-week Audio Intensive
Program fee: $4,000
Good to know: Fee to be paid in full up front.
DJ & Audio Production
Program fee: $2,500
Good to know: Fee to be paid in full up front.
View DJ & Audio Production program
Music Business
Program fee: $14,000
Good to know: Pay $13,300 in full or apply for one of the installment options below.
Pay in full and save $700
If you choose a $14,000 program and pay in full, a 5% discount brings the price down to $13,300.
That is the least expensive way to pay. It saves you $700 and there is no interest.
Would monthly payments work better?
If paying in full isn't realistic, you can apply for internal financing on a $14,000 program. You make a down payment first, then pay the rest over 12 or 24 months.
These are the figures in our current payment document:
$1,500 down payment — 12 months
Interest rate: 14%
Monthly payment: $1,122.34
Total you will pay: $14,968.08
$1,500 down payment — 24 months
Interest rate: 14%
Monthly payment: $600.16
Total you will pay: $15,903.84
$2,500 down payment — 12 months
Interest rate: 11%
Monthly payment: $1,016.39
Total you will pay: $14,696.68
$2,500 down payment — 24 months
Interest rate: 11%
Monthly payment: $535.99
Total you will pay: $15,363.76
$5,000 down payment — 12 months
Interest rate: 5%
Monthly payment: $808.33
Total you will pay: $14,699.96
$5,000 down payment — 24 months
Interest rate: 5%
Monthly payment: $404.16
Total you will pay: $14,699.84
The total shown above adds your down payment to all the monthly payments, so you can compare the total cost of each option. Small differences can result from rounding. We will go through the exact total and payment dates with you before anything is signed.
A quick note: These are our current figures. The final deal is the one set out in your contract.
One thing to be clear about: this is a loan, not a pay-as-you-go lesson plan. Once you sign, stopping the program does not cancel what is left to pay.
Do we offer FAFSA?
No. We do not offer federal financial aid through FAFSA.
It is still worth looking at the whole bill. Our total fees are lower than those of some comparable audio programs that do qualify for FAFSA. Federal aid can help with a larger bill, but it does not automatically mean that your total out-of-pocket expense for a FAFSA-qualifying program is lower.
What comes with Audio & Music Production?
Along with one-on-one training inside Engine Room Audio, your Audio & Music Production fee includes a new-student equipment bundle with:
Headphones
A pair of studio monitors
A large-diaphragm condenser microphone
An audio interface
A microphone stand
A one-year Pro Tools student license
An iLok 4
You will need your own laptop. The exact models in the bundle may change, and we will show you what is currently included before you enroll.
Not sure which option makes sense?
We're happy to discuss the options with you. Come see the studio, talk through the program and the figures, and together, we can figure out how we can make it work for you.