As of September 2002, the tuition for one academic year of study for a resident of New York State was $5,100 (or $213 per credit). For non-residents the tuition for one academic year of study was $8,416 ($351 per credit).

Any applicant admitted to Graduate Studies in Comparative Literature is automatically considered for financial aid. A limited number of full and partial teaching assistantships are available. During the academic year 2002-03, a full assistantship carries a stipend of $11,261, plus a full Tuition Scholarship. Students with excellent grades and GRE scores are strongly urged to apply early in the fall semester prior to the year they plan to begin their studies so that the program can nominate them for special fellowships, such as the Graduate Council Fellowship, which in 2002-03 carries a stipend of $14,500 plus a full Tuition Scholarship. In addition, minority applicants are eligible to be nominated for the Turner Fellowship, which also carries a stipend of $14,500, plus a full Tuition Scholarship.

All New York State resident graduate students who apply for a Tuition Scholarship must apply for TAP (Tuition Assistance Program). New York State residents who are ineligible for TAP for financial reasons must provide the Graduate School with documentation proving their ineligibility. Students from outside New York State should investigate other sources of financial aid. All students with Tuition Scholarship of any kind must apply for New York residency immediately on arrival at Stony Brook. Beginning with the student's second semester of study, Tuition Scholarship cover only the amount of in-state tuition; students who choose to maintain residency in another state are required to make up the difference from their own funds.