New & override

It is said that when you use 'new' the ToString() method in the base class (System.Object) is hidden, whereas if you use 'override' it's overridden. But in this program whether you use new or override the result is same. I wish to know whether it is possible to explain the reason without inserting new lines in the program. Problem is highlighted.

This program is explained by inserting two new lines in the following webpage (http://www.c-sharpcorner.com/Forums/Thread/156771/) but I wish to know whether it is possible to explain without inserting new lines.

using System;
class DemoStudents4
{
public static void Main()
{
Student payingStudent = new Student();
ScholarshipStudent freeStudent = new ScholarshipStudent();

payingStudent.SetName("Megan");
payingStudent.SetCredits(15);

freeStudent.SetName("Luke");
freeStudent.SetCredits(15);

Console.WriteLine(payingStudent.ToString());
Console.WriteLine(freeStudent.ToString());

Console.ReadKey();
}
}

class Student
{
private string name;
protected int credits;

public void SetName(string name)
{
this.name = name;
}
public void SetCredits(int creditHours)//SetCredits in the child class as well
{
credits = creditHours;
}
public new string ToString() //Tostring() overrides the Object class version.
{
string stuString = "Student " + name + " has " + credits + " credits";
return stuString;
//OR
//return String.Format("Student {0} has {1} credits", name, credits);
}
}

class ScholarshipStudent : Student
{
new public void SetCredits(int creditHours)
{
credits = creditHours;
}
}
/*
Student Megan has 15 credits
Student Luke has 15 credits
*/