The Graduate School of Arts and Sciences currently offers a comprehensive 6-year funding package, which includes tuition, stipend or salary (depending on year in program), summer support stipend (in years 1 - 5 only), fees (health services, etc.), health insurance, childcare subsidy, etc. In addition, students are given the option to apply for student housing. Renewal of your fellowship each year for the full 6-years is dependent upon your maintaining good academic and administrative standing both in your department and GSAS. The GSAS website provides detailed information on Financial Aid.
New York City can be a challenging place to live on a grad student salary, even with subsidized student housing, and applicants should consider this. But in real terms, your income is likely to exceed this amount if you take advantage of the diverse opportunities for supplemental funding and support, from within the EthnoCenter, the Department of Music and the University in general, as well as paid work.