NEW YORK UNIVERSITY GRADUATE SCHOOL OF ARTS & SCIENCE G R A D U A T E E N R O L L M E N T SERVICES General Information for Students, August 2009 Disbursement Plans for Fellowship Stipends, Research Assistantships and Compensation for Part-Time Adjunct Instructors This memo details important information about the disbursement plans for fellowships and research assistantships, as well as the payments for students who teach as part-time adjunct instructors. As returning students may recall, in September, 2008, the University implemented an improved schedule for the disbursement of financial aid stipends for fellowships, assistantships or a combination of both. This disbursement schedule will continue for the 2009-10 academic year. Stipend awards for fellowships and research assistantships will be made on a semi-monthly basis. The first disbursement for the fall semester will be on Friday, September 4, 2009. With the implementation of Financial Aid Reform 4 (FAR 4) students who teach will receive compensation as a part-time adjunct instructor. These payments will be made separately from stipends. The disbursement schedule will be similar, providing semi-monthiy payments, but the first payment in the fall semester to a part-time adjunct instructor will be on Tuesday, September 15, 2009. Additional details about adjunct instructor appointments will be provided later this month. The following information is intended to help you plan your finances for the coming year. Please refer to the following sections: 1. 2. 3. 4. 5. Disbursement Schedule for the 2009-10 Academic Year How to Obtain Your Funds Direct Deposit Tax Questions Where to Go with Questions P.O. Box 907 T, 212.998.8050 gsas.admissions@nyu.edu New York, NY 10276-0907 F. 212.995.4557 www.gsas.nyu.edu N E W YORK U N I V E R S I T Y 1. Disbursement Schedule for the 2009-10 Academic Year There will be nine (9) disbursement dates for.the fall semester, nine (9) disbursement dates for the spring semester, and six (6) disbursement dates for the summer. * xS Fall 2009 (9 disbursements) Spring 2010 (9 disbursements) Summer 2010 (6 disbursements) ^W^^mmr^m^^&^^^lll^Sl^m JMBfflfilfflSlpTiT|^^ 9/4 9/15 ~ 9/15 10/1 10/1 10/15 10/15 10/30 10/30 11/13 12/1 11/13 12/15 1/4 12/15 1/4 - 1/15 1/15 -- 2/1 2/1 2/12 2/12 12/1 3/1 3/1 3/15 3/15 4/1 4/1 4/15 4/15 4/30 5/14 4/30 5/14 -- 6/1 6/1 6/15 6/15 7/1 7/15 7/15 7/30 8/13 7/30 8/13 ■ - 9/1 7/1 The full fellowship stipend or research assistantship award will be divided evenly over the disbursement schedule. For example, if you are receiving a $22,440 stipend for the academic year, then each check over the course of the 18 payment periods in the fall and spring will be in the amount of $1,246.66 (gross). Similarly, compensation to a part-time adjunct instructor will be divided evenly over the disbursement schedule. For example, if you are receiving a $5,620 payment for the fall semester, then each check over the course of the 9 payment periods in the fall will be in the amount of $624.44 (gross). 2 2. How to Obtain Your Funds You may obtain your funds either by check or through direct deposit. Ail checks will be distributed at your home department. Your department's administrator can tell you where to pick up your check. Fellowship awards in combination with research assistants hip. If you are receiving both types of awards, they will be combined into one check or direct deposit. Fellowship awards in combination with part-time adjunct instructor compensation. If you are receiving a fellowship at the same time you are teaching, you will receive two separate checks or direct deposits, one for the fellowship and the other for teaching. 3. Direct Deposit The Direct Deposit Program is available to students receiving fellowships or research assistantships, as well as compensation as part-time adjunct instructors. We encourage you to take advantage of this service since you typically have access to your funds faster than by check. If you do not already participate in the direct deposit program, we urge you to do so. You may obtain the Direct Deposit Authorization Form and instructions on the web: http://www.nyu.edu/financial.aid/stipend-deposit.litmI To be eligible for direct deposit, you must have a checking or savings account at a bank that is a member of the Federal Reserve Bank's Automatic Clearinghouse (most U.S. banks and credit unions are members). If you were on direct deposit in the 2008-09 academic year, either in the assistantship system or in the fellowship system, you will continue to be on direct deposit in 2009-10 for your fellowship, research assistantship or adjunct appointment. You do not need to do anything further (unless you have changed banks; see note below). IMPORTANT NOTES: • You must be a registered student for the semester in order for your fellowship stipend to be disbursed. If you have not registeredfor the semester at least 10 days prior to the date of disbursement, then your award may be held • Whenever you change banks, you must complete a new Direct Deposit Authorization Form. If you fail to do so, your payment will be delayed. 3 4. Tax Questions Fellowship stipends. If you are a U.S. citizen, please be sure to pick up the memo titled "Tax Status of Scholarship and Fellowship Awards.'" It is available in Graduate Enrollment Services. The Graduate School is unable to provide tax advice and questions must be directed to a qualified personal tax advisor. Research assistantship stipends. Assistantship stipends are subject to federal, state and local taxes. The Graduate School is unable to provide tax advice and questions must be directed to a qualified personal tax advisor. Part-time adjunct instructors. Compensation for part-time adjunct instructors is subject to federal, state and local taxes. The Graduate School is unable to provide tax advice and questions must be directed to a qualified personal tax advisor. International students. Tax-related questions may be directed as follows: • Tax deductions and eligibility for tax treaty exemption on fellowship stipends: Payroll Department— Stipend Payments, (212) 998-2944 or (212) 998-2928. • Tax deductions and eligibility for tax treaty exemption on research assistantships and compensation for adjunct instructors: Darko Pedisich (darko.pedisich@nyu.edu), the Non-Citizen and Payroll Tax Compliance Administrator. NYU's Office of International Students and Scholars (OISS) provides a good overview of tax filing obligations for international students. The web page is http://www.nyu.edu/oiss/Iegal/taxes/index.html. 5. Where to Go with Questions The first place to go with questions is your department or program. Your department's administrator can teli you about disbursement, when the first check will be available (if different from the dates described above), and can help resolve problems such as investigating why the amount of a check is different from what you expected. If your department cannot answer your question about your fellowship stipend award, then advisors in Graduate Enrollment Services can help you. You can email them at gsas.admissions@nyu.edu, or you can stop by the office at One-half Fifth Avenue. If your department cannot answer your question about your research assistantship check, or your appointment as a part-time adjunct instructor, then the Faculty of Arts and Science (FAS) Fiscal Services Office can help. The best way to reach them is by email at fas.studentpayroIl@nyu.edu. If your department cannot answer your question about a missing check, or you have questions about direct deposit or tax withholding, then the University Payroll Office can help. The best way to reach them is by email at gradstudentfmaid@nyu.edu. 4