New College is one of three colleges where candidates for the Church of Scotland may study theology.
Trinity College, Glasgow, and Christ's College, Aberdeen are the other two Colleges such of the Church of Scotland. Candidates may also study in St Mary's College, St Andrews and Highland Theological College UHI in Dingwall, but the legal situation in these institutions is different.
As in its sister colleges, the Principal of New College is a minister of the Church of Scotland, and is appointed by the General Assembly of the Church from the senior academic staff of the School.
Where necessary, the Principal seeks to interpret the Church to the University and the University to the Church.
Professor David Fergusson, Professor of Divinity, is current Principal.
The Principal, with the College Senate, is responsible to the Church for overseeing the academic part of the training of its candidates. He also chairs the committee which organises College worship and works closely with the Head of the School of Divinity.
Assisted by the New College Financial Board, the Principal and Senate are also responsible for investments held by the College.
The Senate of New College is composed of the Professors of the School of Divinity (together with the Head of School, if not a professor).
Two full-time academic posts in the School are supported, in whole or in part, by New College funds.
Alumni relations, the annual newsletter, and fund-raising, are all shared responsibilities.
New College Church of Scotland candidates produce a newsletter, Rainy Dayze.