NEW YORK TECH CATALOG 2024–2025
Students (not international students) who wish to apply for scholarships, grants, and/or student loans are required to complete the Free Application for Federal Student Aid (FAFSA). The college code to be used on the FAFSA for New York Institute of Technology is 002782. The FAFSA is available online at studentaid.gov in December each year. For maximum consideration for all types of financial aid, students should file the FAFSA applications as early as possible in their application process.
Graduate or professional students are considered independent for federal student aid purposes.
In order to qualify for federal student aid, students:
Verification
There is a process for verifying a student's Free Application for Federal Student Aid (FAFSA) and making corrections because students sometimes make errors on their application. Verification is a process by which a school collects information to ensure that the FAFSA has been completed correctly. The FAFSA Processing System (FPS) of the Department of Education selects which applicants must be verified. The university also reserves the right to select applications for verification.
If a student's application is selected for verification, either by the FPS or by the institution, verification is required to be performed by the school. Each year, the Department of Education will determine which items on the FAFSA must be verified.
For the 2024–2025 academic year, students who are selected for verification will be placed in one of the following three verification groups. The verification group determines which FAFSA information must be verified. The student must submit the Verification Worksheet that corresponds with the Verification Group. New York Institute of Technology Verification Worksheets are available for download, or directly from the Office of Financial Aid.
Verification Tracking Groups
Applicants selected for verification will be notified on the Student Aid Report (SAR). In addition, upon receipt of the Institutional Student Information Record (ISIR), the Office of Financial Aid will send a missing information letter to the student informing the student that their application has been selected for verification and which documents must be submitted. The verification results of identity and high school completion status for students whose 2024–2025 ISIR had a Verification Tracking Group of V4 or V5 must be reported to the Department of Education in a timely manner. As such, students whose 2024–2025 FAFSA has been selected for V4 or V5 verification must submit the required documents to the Office of Financial Aid within 14 days of the request for information. Students unable to submit the required documents in person should contact the Office of Financial Aid for assistance.
In accordance with federal guidelines, verification must be completed no later than 120 days after the last day of the student's enrollment. Students may receive an estimated financial aid package prior to the completion of the verification process. However, New York Institute of Technology does not disburse any federal financial aid funds until the verification process is completed. The university reserves the right to withhold some institutional aid funds until the verification process is completed. Students who fail to submit the required verification documents will not receive federal aid.
Reference: 2023–2024 FSA Handbook Volume 1, Chapter 4
New York Institute of Technology students who want to attend other institutions in the United States for a semester may be able to use federal financial aid under a Consortium Agreement. Students must be approved by their respective academic department prior to attending another institution for the semester(s).
At least four weeks prior to the start of the semester(s), students must contact the Office of Financial Aid to complete the Consortium Agreement:
This policy is effective for scholarships and grants earned for the fall 2020 semester, and for all subsequent semesters. This complies with updated federal regulations in the Federal Student Aid Handbook, published December 7, 2022.
Through the generosity of trustees, alumni, faculty, staff, and friends, New York Institute of Technology provides academic scholarships, grants, and assistantships based on academic achievement, high scholastic potential, and demonstrated need and/or ability.
Most scholarships, grants, and assistantships are renewable each fall and spring semester and based on eligibility and funding availability. Students must meet Satisfactory Academic Progress to maintain scholarship eligibility. Students must also maintain the minimum cumulative GPA each semester as required by the scholarship, grant, and/or assistantship requirements effective at the time of admission to the university. Scholarships, grants, and assistantships are applied to tuition only, and divided equally between fall and spring semesters. Generally, most grants and scholarships are not applicable to any summer session attendance, with the only exception being certain graduate awards within a unique graduate program occasionally being available during a summer semester. Institutional aid is credited to a student's account after the end of the add/drop period. Any designated "tuition-only" awards cannot exceed the cost of tuition and will be reduced accordingly. They are not applicable to any summer session attendance. Students cannot receive two institutional merit-based academic scholarships concurrently. In the event that a student qualifies for more than one scholarship, the one with the highest dollar value will be awarded.
Students who qualify for special discounted tuition rates may not qualify for institutional scholarships or may have scholarships or discounted tuition plans reduced accordingly. In the case of a tuition discount (e.g., graduate assistantships), scholarships received for credits taken in excess of maximum allowable discounted tuition will be prorated accordingly based on standard remaining credit ranges. Institutional scholarships are not applied to credits that are covered with other financial aid or offered at a reduced tuition rate. In addition, students may only qualify for one discounted tuition program at a time. Any combination of scholarships and tuition credit awards cannot exceed tuition charges.
Students should contact the Office of Financial Aid for more information on the availability of scholarships, grants, and assistantships.
The university reserves the right to revise its financial aid programs. All programs are subject to change due to modifications in government or institutional policies. Additional criteria and information may be obtained from the Office of Financial Aid. Students are responsible for reading financial aid disclosures before deciding to accept or reject their financial aid.
Eligibility for New York Institute of Technology institutional scholarships, assistantships, and grants is limited to students whose campus home location is Long Island, New York City, or online. To qualify, students:
Students will only be eligible for a scholarship for a maximum of six full-time semesters of continuous enrollment.
This award recognizes the talents of entering graduate students who have demonstrated a high level of academic achievement. It consists of up to $3,000 per-year tuition-only credit for a maximum of three years (six semesters) of continuous full-time enrollment (nine credits). Proration may be available for applicants taking less than nine graduate-level credits per semester, but you must register for at least three graduate-level credits per semester for this proration. In addition, this scholarship applies only to fall and spring semesters and is not applicable to graduate courses that are offered at a discounted tuition rate.
To qualify, students:
This award applies to fall and spring semesters only and is renewable each semester as long as you complete the FAFSA and the financial aid process. Awards will be reviewed after each semester and renewed if you maintain a minimum 3.3 cumulative GPA and satisfactorily complete the courses for which you are registered, with no failing or incomplete grades.
This award is offered to students who hold a New York Institute of Technology bachelor's or master's degree only. This Graduate Alumni Award is NOT APPLICABLE to students enrolled in any combined undergraduate/graduate programs such as: B.S./D.O., B.S./DPT, B.S./M.B.A., B.S./M.S., B.S./OTD, etc.
To be considered, all students must complete an application each academic year. This award consists of up to $6,000 per-year tuition-only credit for a maximum of three years (six semesters) of continuous full-time enrollment (nine credits). Proration may be available for applicants taking less than nine graduate-level credits per semester, but you must register for at least three graduate-level credits per semester for this proration. In addition, this scholarship applies only to fall and spring semesters and is not applicable to graduate courses that are offered at a discounted tuition rate.
To qualify, students:
This scholarship is awarded only to students who are matriculated in the B.S. in Life Sciences combined degree programs in occupational therapy, physical therapy, and physician assistant studies. This award is not applicable to students enrolled in the combined Life Sciences/Doctor of Osteopathic Medicine degree program. The award bridges the gap between your undergraduate phase and your graduate or professional phase.
This one-time scholarship provides up to $3,975 for the first year (including summer if applicable) of the professional phase of the combined B.S./M.S., B.S./DPT, and B.S./OTD programs for the completion of the undergraduate degree program. Full-time attendance is required.
To qualify, students:
Additional information and criteria can be viewed at Financial Aid – New York Tech Scholarships.
Each semester, a limited number of graduate assistantships are made available to graduate students through individual programs and offices. These graduate assistantships are available to full-time, fully matriculated graduate students. Each academic school or office selects from students applying to or already matriculated in a graduate program. High scholastic achievement and demonstration of professional competence as determined by course and/or life experience are criteria for the Graduate Assistantship Award. In exchange for hours worked, a student may obtain a tuition credit through the graduate assistantship program.
The Graduate Assistantship Award is available in increments of one credit, up to a maximum of six credits per semester. Students are expected to work a total of 50 hours per semester for each assistantship credit. Students may not work in excess of 20 hours per week, in accordance with regulations. Students who do not complete the requisite number of work hours will have their awards reduced proportionally.
Work as a graduate assistant involves professionally oriented experiences that contribute to a student's education. Graduate assistantships may be awarded in conjunction with other scholarships. Maximum assistantships, in conjunction with scholarships, discounts, and other financial awards, are not to exceed tuition charges. Scholarships and other awards are subject to proration depending on enrollment and are not applied toward credits that are covered with other aid or offered at a discounted rate. Students are not permitted to carry tuition waivers from one semester to another or from one year to another. All students must have a minimum cumulative GPA of 3.25, and first-semester students must have permission from their advisor. Students interested in becoming graduate assistants should contact their program directors. Additional information can be obtained from the Office of Academic Affairs at 516.686.7630.
Please visit the graduate assistantship page for more information.
If you are receiving federal financial aid, VA benefits, or institutional funds, you must make Satisfactory Academic Progress (SAP) toward completing your degree program in a timely manner.
New York Institute of Technology scholarships are offered based on full-time enrollment (nine credits or more for graduate students). To receive an institutional scholarship, you must be enrolled for a minimum of three credits every semester and satisfy cumulative grade point average requirements. Scholarship amounts may be prorated for part-time enrollment.
New York Institute of Technology study abroad programs offer exciting and effective ways to learn about the rapidly changing world and offer students opportunities to experience different cultures. The university has several study abroad programs administered by various academic departments that enable students to earn credits toward an academic degree. Many students choose the summer programs, which have been developed over the years by the individual schools and colleges.
Students who plan to study abroad must contact their respective academic department for details about program enrollment. Students from other colleges and universities may be eligible to participate in study abroad programs. If non-New York Institute of Technology students want to use federal aid, a completed Contractual Agreement must be completed by the student's home school and be on file at New York Institute of Technology. For more information on financing for any contractual agreement or study abroad programs, contact the Office of Financial Aid. Students can determine eligibility for study abroad programs by contacting the appropriate program director or coordinator.
The cost of attendance for the program will be provided by the New York Institute of Technology study abroad program coordinator. Actual costs will depend on current airfares, exchange rates, and other factors. New York Institute of Technology students participating in study abroad programs for credits toward their approved degree program may be eligible for financial aid, including grants (during a fall or spring semester) and loans. Students must:
Eligible veterans should visit VA.gov, and state aid recipients should visit their state aid departments to determine if VA benefits or state aid can be used for study abroad programs. All forms must be completed within established deadlines as set by the Office of Financial Aid. For summer sessions I and III, all documents must be received no later than May 1. For summer session II, all documents must be received no later than June 1.
For more details, contact:
New York Institute of Technology
Office of Financial Aid
Northern Boulevard
Old Westbury, NY 11568-8000
Phone: 516.686.7680
Fax: 516.686.7997
Graduate or professional students are considered independent for federal student aid purposes.
New York Institute of Technology reserves the right to revise its financial aid programs. All programs are subject to change due to modifications in government or institutional policies. Additional criteria and information may be obtained from the Office of Financial Aid. Students are responsible for reading Financial Aid Disclosures before deciding to accept or reject their financial aid.
To be considered an independent student for any federal financial aid program, students must meet one of the following criteria:
The determination of dependency status is derived from the answers to the dependency status questions on the Free Application for Federal Student Aid (FAFSA). Further information regarding dependency status questions can be found at the Federal Student Aid website.
Students who do not meet the federal definition of an independent student, and who have extenuating circumstances, may request consideration for a Dependency Override. In such cases, the Office of Financial Aid will require additional certification and documentation to determine that a student is independent for purposes of federal financial aid programs. A determination of independent student status for federal financial aid purposes does not automatically translate to the same determination for state aid programs and vice versa, nor does this determination guarantee that an applicant will receive additional financial aid that is sufficient to meet the cost of attendance.
New York Institute of Technology students who want to attend foreign schools (both Title IV and non-Title IV eligible) and non-Title IV eligible domestic institutions for a semester may be able to use federal financial aid under a Contractual Agreement. Students must be approved by their respective academic department prior to attending the semester(s).
At least four weeks prior to the start of the semester, students must contact the Office of Financial Aid to:
The regulations of the U.S. Department of Education govern Title IV student eligibility and eligible amounts. Based on federal regulations, there is a limit on the portion of the program that can be offered by the host school under a contractual agreement. The portion allowed ranges between 25 percent and 50 percent of an educational program that can be provided by the ineligible school.
For further information, please refer to the 2023–2024 FSA Handbook, Vol. 2, Ch. 2, pp. 30–31: School Eligibility and Operations, (34 CFR 668.39 and CFR 668.50).
A Cooperative Tuition Award Certificate entitles the cooperating professional to the non-monetary value of the credits requested. The credit value is equal to the credit charge that was in effect on the last day of the placement semester. As such, the cooperating professional will be responsible for all charges not covered by the credit award amount. The certificate is not transferable. The certificate may not be used for payment of a prior semester charge.
The following terms and conditions govern the use of the tuition award:
THE TUITION CERTIFICATE STATEMENT CANNOT BE REPLACED IF LOST OR STOLEN. NO REPRODUCTIONS OF THE CERTIFICATE WILL BE ACCEPTED.
Veterans may qualify for additional benefits, including the Yellow Ribbon Program. Students must achieve Satisfactory Academic Progress to be eligible for Veteran Benefits. For more information, contact the following agencies:
The combined tuition benefits available to a student cannot exceed the student's total tuition costs. Tuition payments received by a student under the Post-9/11 GI BILL® (Chapter 33 veteran benefits) and Yellow Ribbon Program are considered duplicative of any VTA and/or TAP award. Students receiving tuition assistance through these programs may, and in most cases will, have their state VTA and/or TAP payment reduced or denied due to these other benefits. However, payments received under the Montgomery GI BILL® do not duplicate the purpose of the VTA and/or TAP.
Section 103 – VA Pending Payment Compliance
In accordance with Title 38 U.S. Code 3679 subsection (e), this school adopts the following additional provisions for any students using U.S. Department of Veterans Affairs (VA) Post 9/11 GI BILL® (Ch. 33) or Vocational Rehabilitation and Employment (Ch. 31) benefits, while payment to the institution is pending from the VA.
This school will not:
However, to qualify for this provision, such students may be required to:
New York Institute of Technology is proud to be a part of the Yellow Ribbon GI Education Enhancement Program. The program is a provision of the Post-9/11 Veterans Educational Assistance Act of 2008 and allows degree-granting institutions of higher learning in the United States to voluntarily enter into an agreement with the VA to fund tuition expenses for the 2024–2025 school year (as of August 1, 2024) that exceed either the $28,937.09 cap for private institutions or the resident tuition and fees for a public institution. The participating educational institution can contribute up to 50 percent of those expenses, and the VA will match the same amount as the institution.
Students must be eligible for the Post-9/11 GI BILL® at the 100 percent level to be considered for the Yellow Ribbon Program. Students must also meet Satisfactory Academic Progress requirements to receive Veteran Benefits, including Yellow Ribbon Program funds.
Specific eligibility requirements for the Yellow Ribbon Program may be found online.
Students must meet at least one of the following criteria:
Note: If you're a member of the Reserves who lost education benefits when the Reserve Educational Assistance Program (REAP) ended in November 2015, you may qualify to receive restored benefits under the Post-9/11 GI BILL®.
Students who wish to be considered for the Yellow Ribbon Program should complete and submit an application form available online. The VA will inform students via written notification with an explanation of its decision on program eligibility. If approved, students will receive a Certificate of Eligibility confirming their service meets the requirements of the program. All Certificates of Eligibility should be presented to the Office of the Registrar for the university's records. The Certificate of Eligibility does not guarantee Yellow Ribbon funding as the availability of annual funds for New York Tech's Yellow Ribbon Program is limited. Student eligibility is determined by the university's Veteran Certifying Officer. In accordance with institutional funding parameters for the 2024–2025 year, Yellow Ribbon funds are awarded and applicable for the summer/fall/spring semesters. It is the student's responsibility to request, complete, and submit all forms with necessary documentation for all financial aid programs in a timely manner.
Duplicative Benefits
The combined tuition benefits available to a student cannot exceed the student's total tuition costs. Tuition payments received by a student under the Post-9/11 GI BILL® (Chapter 33 veteran benefits) and Yellow Ribbon Program are considered duplicative of any VTA and/or TAP award. Students receiving tuition assistance through these programs may, and in most cases will, have their state VTA and/or TAP payment reduced or denied due to these other benefits; however, payments received under the Montgomery GI BILL® do not duplicate the purpose of the VTA and/or TAP.
For more information on selection criteria for New York Tech's Yellow Ribbon Program, contact the Office of the Registrar at 516.686.7580 or registrar@nyit.edu.
The William D. Ford Federal Direct Student Loan Program, sponsored by the U.S. Department of Education, offers low interest rates and easy repayment terms, and is geared toward those entering or re-entering the workforce. The Federal Direct Unsubsidized Loan is available to graduate students. The loan is not credit based, and only requires that students meet specific eligibility requirements. All students must file a Free Application for Federal Student Aid (FAFSA) in order for the Office of Financial Aid to determine eligibility for a Federal Direct Unsubsidized Loan. Depending on enrollment status, FAFSA results, cost of attendance, and other factors, an amount will be offered to eligible students. The federal government is the lender for student loans received through the Federal Direct Loan Program.
The Department of Education has developed a process that all Direct Loan borrowers (subsidized, unsubsidized, graduate PLUS, and parent PLUS) are encouraged to complete, called the Annual Student Loan Acknowledgement (ASLA). The ASLA (formerly known as the Informed Borrower Confirmation process) is intended to better assist borrowers in understanding the financial responsibility of funding their education and provide current information on a borrower's cumulative loan balance. As part of the Master Promissory Note (MPN) confirmation process, the ASLA allows student and parent borrowers to view how much they currently owe in federal student loans, and to acknowledge that they have seen these amounts, before borrowing new loans each award year. The ASLA may be completed each year in addition to Direct Loan Entrance or PLUS Credit counseling that may be necessary. The ASLA becomes available for completion online at studentaid.gov/asla each April.
Borrowers are responsible for all interest that accrues on the Federal Direct Unsubsidized Loan, and have the option to pay the interest on their loans while in school or let interest accrue until repayment begins (known as capitalization). Applicants must be enrolled in at least half-time attendance (minimum six graduate-level credits per semester) to be eligible for Federal Direct Unsubsidized Loans and to maintain eligibility for "in-school" deferment status.
Graduate students may borrow up to $20,500 per academic year from the Federal Direct Unsubsidized Loan Program. If graduate students are taking undergraduate prerequisite courses, a Preparatory Coursework form must be completed with their academic advisor and submitted to the Office of Financial Aid. Enrolled graduate students taking undergraduate preparatory coursework (concurrently while in a graduate program) may be eligible to receive undergraduate Direct Subsidized and Unsubsidized Loans. The total combined undergraduate, graduate, and professional aggregate loan limit for the Direct Loan program is $138,500, of which no more than $65,500 can be subsidized.
Graduate students who qualify for Federal Direct Loans through preparatory coursework are only eligible to receive up to a total of $12,500 in Federal Direct Loans for the academic year, of which no more than $5,500 may be subsidized (depending on eligibility determined by FAFSA results). Graduate students receiving undergraduate Federal Direct Loans through preparatory coursework are subject to the undergraduate federal loan lifetime aggregate limits for independent students. Undergraduate independent students are eligible to receive up to a total of $57,500 in Federal Direct Loans for their lifetime, of which no more than $23,000 may be subsidized (depending on eligibility determined by FAFSA results).
Loan repayments will not be required while students maintain at least half-time (minimum six credits) attendance. Repayment starts six months after students leave school or drop below half-time attendance. Interest on Direct Unsubsidized Loans begin to accrue when the loan is fully disbursed, and students may start repayments at any time.
Effective for Federal Direct Loans first disbursed on or after July 1, 2006, the interest rate is fixed. Prior to this date, Federal Direct Loan interest rates were variable. Federal Direct Loan interest rates change from year to year (in July) and may also change specifically for one type or the other; Subsidized, Unsubsidized, or Graduate PLUS. For loans disbursed after July 1, 2022, the interest rate for Unsubsidized Loans is 6.54 percent. Students who received loans prior to the aforementioned dates and who still have balances outstanding on those loans will continue with the interest rate rules in effect at the time of their original loans. Borrowers will also be charged an origination fee. The origination fee represents the lender's (the federal government) fee for making the loan. For loans disbursed after October 1, 2020 and before October 1, 2023, the origination fee is 1.057 percent.
Annual and Aggregate Graduate Limits: Direct Unsubsidized Eligibility Only
On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) became law and provided emergency COVID-19 relief measures on federal student loans owned by the Department of Education. The relief measures, which began on March 20, 2020, include suspension of loan payments, stopped collections on defaulted loans, and a zero percent interest rate.
On November 22, 2022, the student loan payment pause and zero percent interest rate were extended until 60 days after the federal debt relief program is implemented or litigation is resolved. Payments will resume 60 days after June 30, 2023 if the debt relief program is not implemented and the litigation has not been resolved. The Department of Education will notify borrowers before repayments restart. More information is available at studentaid.gov.
A standard academic year for New York Institute of Technology is two semesters—fall and spring. However, a Borrower-Based Academic Year (BBAY) or Seasonal Loan is specific to the period of study that the student is attending and looking to borrow federal loans. For example, a summer/fall academic year (two semesters) or a spring/summer academic year (two semesters) represents a BBAY or Seasonal Loan period. Seasonal Loans are available upon request for those students who wish to receive federal student loans for borrower-based academic years.
Students who are enrolled at least half-time (six credits per semester) during the summer session may request to be reviewed for Federal Direct Unsubsidized and Graduate PLUS Loan eligibility for summer terms. The Office of Financial Aid will determine the student's eligibility for federal and/or private loans for this period of enrollment based on FAFSA information and financial aid history. A student will be offered federal loans for a borrower-based year consisting of two terms, either summer/fall or spring/summer, unless the student is graduating or changing enrollment status.
In order to offer aid to the student, the Office of Financial Aid must have a valid FAFSA on file for the appropriate academic year. Students borrowing loans for a BBAY (i.e. summer/fall or spring/summer) should also submit a Seasonal Loan Request form, which the Office of Financial Aid will use to determine the cost of attendance and budget for the terms being awarded. Students must complete the form in full with information for both terms, otherwise it will not be processed.
Students should understand that Federal Direct Unsubsidized Loans taken during summer sessions still count towards aggregate loan limits and may result in exhausting eligibility more quickly than with a traditional two-semester year (fall/spring). Students should also be aware that most scholarships and grants are only offered during the fall and spring semesters.
We strongly recommend that students speak with a Financial Aid Advisor when completing and submitting the Seasonal Loan Request form to the Office Financial Aid, as they may have pertinent questions that can be answered in advance to avoid processing delays.
The Federal Direct Graduate PLUS Loan is an unsubsidized loan for graduate/professional students. PLUS Loans help pay for education expenses up to the cost of attendance minus all other financial assistance. The application process includes a credit approval requirement and interest is charged during all periods, including eligible periods of deferment. If a PLUS loan application is credit-denied, applicants may appeal the credit decision with the Department of Education or reapply with a creditworthy endorser, and will be required to complete PLUS Credit Counseling.
The Department of Education has developed a process that all Direct Loan borrowers (subsidized, unsubsidized, graduate PLUS, and parent PLUS) are encouraged to complete, called the Annual Student Loan Acknowledgement (ASLA). The ASLA (formerly known as the Informed Borrower Confirmation process) is intended to better assist borrowers in understanding the financial responsibility of funding their education and provide current information on a borrower's cumulative loan balance. As part of the Master Promissory Note (MPN) confirmation process, the ASLA, allows student and parent borrowers to view how much they currently owe in federal student loans, and to acknowledge that they have seen these amounts, before borrowing new loans each award year. The ASLA may be completed each year in addition to Direct Loan Entrance or PLUS Credit entrance counseling that may be necessary. The ASLA becomes available for completion online at studentaid.gov/asla each April.
Creditworthy borrowers may borrow up to the full cost of attendance minus any other aid received. Repayment begins six months after the last disbursement is made and can be deferred by contacting your loan servicer to request a deferment. Direct PLUS Loans can be deferred while the graduate student is enrolled at least half-time and for an additional six months after the graduate student ceases to be enrolled at least half-time (a minimum of six graduate-level credits).
In-school deferment can be requested at the time the PLUS application is completed online at studentaid.gov. In most cases, the Direct Loan Servicing Center will automatically grant an in-school deferment on your Direct PLUS Loan based on information reported to the U.S. Department of Education by the Office of the Registrar showing that you are enrolled at least half-time. The first payment on a Direct PLUS Loan will be due within 45 days after the deferment end date. The Direct Loan Servicing Center (DLSC) will notify students 60 days before the deferment ends. The Direct Loan Servicing Center will notify you of the deferment and of your option to cancel the deferment and begin making payments on your loan. If you are unable to make payments on your Direct PLUS Loan after you leave school and your in-school deferment ends, you may request a forbearance that will allow you to temporarily postpone payments. You will have to explain why you are unable to make payments. To request a forbearance, contact the Direct Loan Servicing Center at 800-848-0979.
If the Direct PLUS Loan is deferred, interest will accrue on the loan during the deferment. You may choose to pay the accrued interest or allow the interest to capitalize when the deferment period ends. Your loan servicer will notify you when your first payment is due. Information about the William D. Ford Federal Direct Loan Program can be found at studentaid.gov.
Federal Direct Loan interest rates change from year to year (in July) and may also change specifically for one type or the other; Subsidized or Unsubsidized, Graduate, or PLUS. For loans disbursed after July 1, 2022, the interest rate for Direct PLUS loans is 7.54 percent. Students who received loans prior to the aforementioned date and who still have balances outstanding on those loans will continue with the interest rate rules in effect at the time of their original loans. There is also an origination fee that will be deducted from the principal amount borrowed. The origination fee represents the lender's (the federal government) fee for making the loan. For Direct PLUS loans disbursed after October 1, 2022, the origination fee is 4.228 percent. The table below describes annual and aggregate maximum eligibility for the Federal Direct Unsubsidized and Graduate PLUS Loan Programs.
| Graduate Annual Limit | Aggregate Limit Including Undergraduate and Graduate Amounts | |
|---|---|---|
| Unsubsidized Direct Loans* | $20,500* | $138,500 |
| Federal Direct Graduate PLUS Loans | Cost of Attendance, Minus Other Aid | Cost of Attendance, Minus Other Aid |
* Ineligible for Subsidized Loans
On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) became law and provided emergency COVID-19 relief measures on federal student loans owned by the Department of Education. The relief measures, which began on March 20, 2020, include suspension of loan payments, stopped collections on defaulted loans, and a zero percent interest rate.
On November 22, 2022, the student loan payment pause and zero percent interest rate were extended until 60 days after the federal debt relief program is implemented or litigation is resolved. Payments will resume 60 days after June 30, 2023 if the debt relief program is not implemented and the litigation has not been resolved. The Department of Education will notify borrowers before repayments restart. More information is available at studentaid.gov.
New York Institute of Technology is not affiliated with any private educational lender and encourages students to use all federal and state funding sources prior to seeking funds from private educational lenders. The Office of Financial Aid will offer helpful advice to all students on resources that best suit financing their educational needs.
Additional information can be found at Financial Aid – Loans and Truth in Lending (TILA).
Once you have received and responded to your Financial Assistance Plan, you can apply for private loans. Helpful information on private loans is listed below. Remember that Federal Direct Loans are also available to eligible students.
Private student loans are used to fill the gap between the cost of education and the financial aid received. It is recommended to first borrow the maximum eligible in Federal Direct Loans and consider the Graduate PLUS loan (for graduate students) before applying for an alternative student loan. The Federal PLUS loan is usually less expensive than an alternative loan. In addition, alternative loans are based on credit and debt-to-income ratio whereas the PLUS loan is based on credit only.
As a borrower, you have the right and ability to borrow student and/or parent private loan funds using any lender you choose. The university encourages students to research and select any of the many educational lenders that provide meaningful benefits to your specific needs. Please note that borrower benefits and lender fees may vary by lender.
Many lenders have an online application process and will inform you of the credit decision within 24–48 hours. The lender will notify the university of your loan approval. You may also contact the Office Financial Aid at finaid@nyit.edu or 516.686.7680 to inform us if you have been approved for a private student loan so that we may process and certify your loan correctly. As always, we are here to assist you in any way possible. Helping our students to achieve their academic goals is our top priority.
Some private loan lenders charge fees on their loans, which can significantly increase the cost of the loan. A loan with a relatively low interest rate but high fees may ultimately cost more than a loan with a higher interest rate and no fees. Also, be aware that the higher the number of payments/years that you have to repay the loan, the more money you will pay in interest over the life of the loan.
Lower rates are generally offered to students with extremely good credit scores. The rates and fees generally increase proportionately as credit scores decline. Many lenders will require school certification and will not lend more than what the school determines to fit into the total cost of education less all other financial aid received.
Private loan lenders often defer the principal payment while the student is in school and up to six months or more after the student's last date of attendance (known as a grace period). During the time of principal deferment, interest is still accruing on these loans. If a student elects not to pay interest while in school, the lender will add the interest to the principal loan amount (capitalization). It is not uncommon for a lender to advertise lower interest rates during in-school and grace periods and then increase the interest rate when full repayment begins.
Students may apply for a private loan with a creditworthy co-borrower if they are unable to borrow a loan on their own. In some cases, it may be advisable to have a co-borrower even if they are able to borrow a loan on their own, as many lenders offer lower interest rates and/or fees for loans with a creditworthy co-borrower.
If you enroll in a higher education institution for the first time on or after July 1, 2012, in order to be eligible for federal student aid, you must have either a high school diploma or a recognized equivalent, such as: a General Educational Development (GED) certificate, state-authorized exam, completion of two-year program, "Excelled Academically in High School," or a homeschool education at the secondary level as defined by state law or grandfathered per Gen 15-09.
New students who do not have a high school diploma, or an equivalent such as a GED, and who did not complete secondary school in a homeschool setting are not eligible for Title IV funds.
Under the Consolidated and Further Continuing Appropriations Act of 2015 (as defined in section 484(d)(2) of the HEA), a student who does not have a high school diploma or an equivalent such as a GED certificate, or who was not homeschooled and who first enrolls in an eligible program of study on or after July 1, 2014, can only become eligible for Title IV assistance using one of the following Ability-to-Benefit (ATB) alternatives, when the student is also enrolled in an eligible career pathway program:
Reference: 2023–2024 Federal Student Aid Handbook, Vol. 1, Ch. 1, pp. 6–11
New York Institute of Technology also reserves the right to evaluate a high school diploma presented by a student. The university may, at any time, request a copy of a high school transcript to validate a high school diploma. A high school diploma or recognized equivalent is required to receive federal student aid.
All graduate students transferring from other institutions will have their credits evaluated by the Office of Admissions prior to admittance. The annual and aggregate limits for graduate-level loans are not contingent upon the number of transfer credits accepted by New York Institute of Technology. All graduate-level students have the same annual and aggregate limits, despite the number of transfer credits accepted. Graduate students are not eligible for Title IV federal grants or the New York State Tuition Assistance Program (TAP). Please contact the Office of Graduate Admissions regarding other transfer credit requirements.
Students must be fully accepted and matriculated into an approved program to be eligible for federal student aid funds. All courses taken must be a part of, and applicable to, the enrolled program of study. Graduate students will not be offered financial aid if they have not met the full requirements for acceptance into an approved program of study.
A graduate student who is required to complete non-matriculated preparatory English language coursework as a result of not meeting English proficiency requirements will not be eligible for federal funds and may not be eligible for institutional aid until meeting the requirements for full admission. Students who are offered conditional admissions due to English proficiency placement are not considered for full admission until completion of the ESL Pathway Program.
Students enrolled in a combined undergraduate/graduate program are considered undergraduate for the first 90 credits for the purposes of awarding federal student aid, excluding students enrolled in the B.S./D.O.* program. Upon satisfactory completion of 90 undergraduate credits, they may become eligible to receive federal student loans at the graduate level. Students must apply for the graduate portion of their combined program by contacting the Office of Graduate Admissions. Students who have been awarded an undergraduate academic scholarship, and continue to meet renewal criteria, will receive the scholarship while enrolled in the undergraduate portion of the program only, up to 90 credits. After transition to the graduate level (91+ credits; excluding B.S./D.O.*), students may be eligible for a variety of special scholarship programs depending on the enrolled program of study, cumulative GPA, and other factors. In order to receive graduate-level financial aid, the student must also update the FAFSA student data fields from undergraduate to graduate level.
* B.S./D.O. students require 115 credits to be completed in the first six semesters of the program. Upon completion of these credits, B.S./D.O. students enter the NYIT College of Osteopathic Medicine and are under the auspices of NYITCOM's Financial Aid Office policies pertaining to institutional aid.
Students enroll in a single, seamless program where they will be expected to complete both undergraduate and graduate degrees. The program sometimes offers special sections of required courses specifically for students in the combined program, but otherwise completes the requirements for both degrees.
These are two separate degree programs with two separate entry points. Students first enroll in a bachelor's program. In their junior or senior year, if they have a sufficiently high GPA, they may take certain graduate-level courses to complete their undergraduate requirements. Upon graduating with their bachelor's degree, they may then enroll in a related master's program, with the benefit of having already earned credits toward their graduate degree. This allows them to earn their second degree on an accelerated basis, usually in half the time of a normal master's degree.
Note: Since accelerated master's programs consist of two separate degree programs, unlike the combined degrees, there are no changes in the normal rules for financial aid.
References: 2023–2024 FSA Handbook, Volume 2, Chapter 2: Program Eligibility, Written Arrangements, and Distance Education and 2023–2024 FSA Handbook, Volume 8, Chapter 1: Student and Parent Eligibility for Direct Loans and Code of Federal Regulations, Title 34 CFR 685.200(f)(6), and Title 34 CFR 685.203
A graduate student who is required to complete preparatory undergraduate coursework may be eligible for federal student loans. A graduate student who is taking some undergraduate coursework is eligible for graduate loan limits if the student is enrolled at least half-time in graduate courses (or at least half-time in undergraduate coursework that can be applied to graduate program requirements). The student must already be admitted into a New York Institute of Technology graduate program. Students are not eligible for federal graduate-level loans in any semester in which they are not registered for at least six graduate credits toward their graduate degree.
A non-matriculated student with a bachelor's degree who is taking preparatory coursework for acceptance into a graduate program may be eligible for federal student loans. Students who must complete undergraduate coursework to fulfill degree requirements for a graduate program are not eligible for graduate loan limits unless they are matriculated into the graduate program and enrolled at least half-time for graduate credits in that program.
A graduate student taking undergraduate preparatory coursework at least half-time may be eligible for undergraduate loan limits based on credit load and must submit a completed Preparatory Coursework form to the Office of Financial Aid.
If a student is required to take undergraduate preparatory courses for a graduate program and is not enrolled at least half-time in required credits for the graduate program, the student will have one 12-month consecutive period in which they may borrow Subsidized (if eligible) and Unsubsidized Direct Loans at an undergraduate loan level. The student must be enrolled at least half-time (six credits) in the prerequisite courses to be eligible for the prerequisite-level loans. The amounts that can be borrowed are capped at no more than the annual maximum for a fifth-year undergraduate. (Please note that fifth-year undergraduate loans are subject to the undergraduate aggregate loan totals. So, if you've previously borrowed up to the maximum aggregate amount allowed in undergraduate loans, you will not be eligible for additional undergraduate-level federal student loans and may have to utilize alternative methods to cover education costs, such as private student loans, during your prerequisite course period.)
A Preparatory Coursework form completed by the student and a faculty advisor in your academic department must be submitted to the Office of Financial Aid in order to receive fifth-year level Federal Direct Subsidized and Unsubsidized Direct Loans.
If students are unable to complete all preparatory courses within the first 12 months of attendance at New York Institute of Technology, they should be advised that they may only be able to borrow private, alternative student loans to cover the cost of their remaining preparatory courses, unless student is concurrently registered for at least six graduate credits per semester to qualify for graduate-level federal loans.
Federal References:
A student may apply for a Federal Direct Unsubsidized and/or Graduate PLUS Loan for coursework the school has documented as necessary for them to enroll in an eligible graduate-level program. The courses must be part of an eligible program otherwise offered by the school. If enrolled at least half-time (six credits per semester) in these prerequisite courses, the student is eligible for loans for one consecutive 12-month period beginning on the first day of the loan period.
A graduate student may borrow up to $12,500 in Federal Direct Unsubsidized Loans if they are taking preparatory coursework required for full admittance into an approved graduate degree program.
Breakdown of the loan limits for graduate/professional coursework is as follows:
** Loan limit is not prorated if the coursework lasts less than an academic year. See 2023–2024 FSA Handbook, Volume 8, Chapter 1, for more information on FSA eligibility for this coursework.
To be eligible for loans under this exception, a student must be taking prerequisite classes for at least half-time admission into a graduate program. If the student is only taking these classes to raise their GPA in order to be admitted, the student will not qualify.
The ability to borrow funds requires that the student has not reached undergraduate loan limits for Federal Direct Unsubsidized Loans. Additionally, student financial aid cannot be used twice to pay for the same coursework (except as required by law for failed coursework). For example, student financial aid cannot be used to pay for a course designated as undergraduate coursework, then again for the same coursework designated as graduate level. In all cases, the coursework taken must lead to a degree in the enrolled program of study.
Eligibility for a federal student loan may be granted for up to one calendar year (one consecutive 12-month period) if the student is enrolled in coursework required to meet prerequisites for admission into a degree program. In order to be offered federal student loans for preparatory coursework, students must complete a Preparatory Coursework Form with the academic department chairperson, or other departmental designee, and submit the completed form to the Office of Financial Aid.
Note: Please be aware that financial aid is offered based on a student's enrollment status and degree/course agreement for the declared program of study.
Reference: 2023–2024 FSA Handbook Vol. 1, Ch. 1, pp. 2–3; plus Code of Federal Regulations Title 34 CFR 668.20; Title 34 CFR 668.8(j); and Title 34 CFR 668.32
ESL courses, if taken as part of an approved academic program and have credit equivalencies, are eligible courses for financial aid purposes and aid will be awarded to cover tuition costs for these courses. ESL courses taken when a student is enrolled in an ESL program are not eligible for financial aid.
The Department of Education has implemented regulations governing repeated coursework effective July 1, 2011, per federal regulations (Title 34 CFR Section 668.2). The regulations have been implemented to improve the pace of graduation completion for students, which in turn should reduce loan indebtedness and preserve grant funding levels.
Repeating courses may significantly impact Satisfactory Academic Progress (SAP) and eligibility for Title IV federal financial aid and institutional aid. Grades of D or better in repeated courses will be counted as earned credits. All course repeats will count as attempted credits and be used in the quantitative and maximum time frame components of the SAP policy. Students should consult with a financial aid advisor before registering for a repeated course. Students may be full-time or part-time.
The rules regarding repeated coursework will further impact recipients of Title IV federal financial aid funding. Students are allowed to repeat coursework under these circumstances for federal financial aid, Reference: Title 34 CFR Section 668.2(b):
See the following examples for how the Repeated Coursework Policy affects financial aid:
Example 1: A student has received an F in a class. The student receives an F in the same class next semester, and the semester following that. Financial aid will count those courses toward enrollment for programs that require certain enrollment statuses. After the fourth try, the student receives a D. The student decides to try to get a better grade next semester. The following semester, the student receives another F. Federal financial aid will no longer pay for that course for subsequent semesters.
Example 2: A student has received a C in a class. The student takes the class again in hopes of achieving a better grade, but then receives an F in the same class next semester. Federal financial aid will not pay for the course again. The student would be responsible for payment of the course if they register for it again.
The programs that New York Institute of Technology offers for which minimum grades are required and courses can be repeated include:
Students in these programs may have one time to repeat a course in which they received a grade of C or below. Please refer to the course descriptions to determine individual courses with minimum grade requirements for these programs.
This policy is effective for grades earned in the fall 2020 semester and for all subsequent semesters. The policy complies with updated federal regulations (CFR 668.34) effective as of July 1, 2011.
Introduction
To receive Title IV Federal Financial Aid, institutional funds administered by the New York Institute of Technology Office of Financial Aid, or certain veterans benefits, students must maintain measurable academic progress toward degree program completion. Federal regulations require evaluation of qualitative and quantitative measures as well as completion of the degree objective within 150 percent of the normal published time frame.
NOTE: This Satisfactory Academic Progress (SAP) policy is separate and distinct from the Academic Probation and Suspension policy administered by the Office of the Registrar.
All enrollment periods, including those for which a student did not receive financial aid, are included in the measurement of Satisfactory Academic Progress. A student's entire academic history will be considered when determining SAP status, including all transfer credits on a New York Institute of Technology transcript. Incompletes (I), Withdrawals (W), and Unofficial Withdrawals (UW) count as attempted credits, but not earned credits. Withdrawn Failing (WF) and Failing (F) count as attempted credits and earned grades.
Students who do not meet the SAP standards will not be eligible for federal or institutional financial aid until they have successfully appealed their Unsatisfactory Academic Progress (UAP) status and can regain eligibility by meeting the standards of this SAP policy, or by following a prescribed academic plan as determined by an academic school designee.
Reference: 2022–2023 Federal Student Handbook, Vol. 1, Ch. 1, pp. 11–18
Guidelines for Academic Progress
For financial aid purposes, an aid year at New York Institute of Technology consists of summer, fall, and spring enrollment periods. Summer begins the year, and spring concludes it. A student attending an intersession (short-term courses between fall and spring semesters) will have those courses evaluated with spring semester progress.
The measurement of SAP is calculated at the end of each enrollment period (semester) during the aid year, and status is effective with the next enrollment period (semester). If a student changes majors or academic programs, all attempted and earned credits will be included in the qualitative, quantitative, and normal time frame measurements (no more than 150 percent), with the exception of those stated elsewhere in this policy.
Qualitative Standard
The qualitative component measures the quality of a student's academic progress by their cumulative GPA.
Graduate Standard
Graduate students must maintain a cumulative GPA of 3.0 at all times.*
* Athletic award eligibility will continue to be governed by a signed Athletic Agreement. All other Title IV and institutional aid for athletes will be governed by this Financial Aid Satisfactory Academic Progress policy.
The required cumulative GPA is based upon the total number of attempted and earned credits, including the grades of F (Failure) and WF (Withdrawn Failure). Grades of I (Incomplete), W (Withdrawn), and Unofficial Withdrawal (UW) are not factored into a student's cumulative GPA.
Pace (Formerly Known as Quantitative Standard)
Students must meet a quantitative standard of academic progress measured as a completion rate percentage.
For the purposes of measuring pace, the grades of Incomplete (I), Withdrawn (W), Unofficial Withdrawal (UW), Withdrawn Failure (WF), and Failure (F) count as attempted credits but not as successfully completed credits. Accepted transfer credits are also included in this calculation, both as attempted and earned credits.
Maximum Time Frame for Degree Completion
Students must obtain their degree objective within 150 percent of the normal time frame for degree completion. For example:
Effects of Remedial, ESLI, and Repeated Courses
Consequences of Failure to Meet SAP "Financial Aid Warning"
Financial Aid Warning is a status assigned to a student who fails to make satisfactory academic progress at the end of an enrollment period. A student who fails to meet SAP (excluding maximum time frame) at the end of an enrollment period is no longer eligible for financial aid; however, the student is automatically placed in a Financial Aid Warning status—not to exceed one enrollment period—if the student was successfully meeting SAP in the previous semester. This does not apply to students who are meeting SAP as a result of a successful appeal. If a student fails to meet SAP in the enrollment period immediately following the approved semester, the student will not be placed in a Financial Aid Warning Status.
The following conditions apply to the Financial Aid Warning Status:
Financial Aid Probation
Financial Aid Probation is a status assigned to a student who fails to make satisfactory academic progress, has successfully appealed, and can meet minimum SAP standards by the end of the enrollment period. This student has had eligibility for aid reinstated and can receive financial aid for one enrollment period.
For students who have successfully appealed but cannot meet minimum SAP standards by the end of one enrollment period, an individual academic plan may be developed in conjunction with an academic school designee. These students will be evaluated and must demonstrate progress each period, as required, in a maximum of two enrollment periods (beyond the "warning" term).
Appeal Process
Extenuating circumstances may occur during an enrollment period and impact a student's ability to meet SAP standards including, but not limited to:
In all cases, circumstances must be sufficiently documented.
If unexpected circumstances occur and the student wishes to appeal their status, a Satisfactory Academic Progress Appeal form must be submitted to the Office of Financial Aid. A student must meet with the appropriate academic school designee to discuss and document the appeal, and the academic school designee will recommend whether a student's eligibility should be reinstated. Appeal guidelines include:
Final decisions will be made by the SAP Appeals Committee. A decision is based on the documented information provided, the circumstances leading to the appeal, and the academic plan, if required. Students will be notified of the committee's decision in writing by postal mail or email. The decision of the SAP Appeals Committee is final.
If the appeal is denied, a student is no longer eligible for further financial aid from New York Institute of Technology until the student becomes compliant with SAP policy standards.
Satisfactory Academic Progress for New York State Programs
Although graduate students are no longer eligible for the New York State Tuition Assistance Program (TAP), some students may qualify for other programs administered by New York State.
New York Institute of Technology is responsible for implementing standards of satisfactory academic progress to maintain eligibility for all financial assistance programs, including federal, institutional, and New York State programs.
The standards that apply to New York State awards require recipients of such awards to maintain a steady rate of progress toward a degree and to earn a prescribed academic average. These standards affect all students who receive New York State awards. Additional information on SAP for New York State aid may be obtained from the Office of the Registrar at registrar@nyit.edu.
Waivers
A one-time waiver may be granted to the recipient of state financial assistance who has failed to maintain pursuit of program or make satisfactory academic progress. A student must initiate the request for a waiver through the Office of Student Life and document one of three reasons for the request: a death in the family, serious illness, or other mitigating circumstances beyond the student's control. Approval of the waiver is not automatic. After careful review of the documentation by the Office of Student Life, a student will be notified by email as to whether a one-time waiver will be granted.
For more detailed and complete information on the waiver and other eligibility requirements, review Appendix C: Commissioner's Guidelines on Good Academic Standing C-Average Requirement: Questions and Answers on the New York State Higher Education Services Corporation (NYSHESC) website.
Objective
The Title IV Student Withdrawal Policy is designed to ensure the accurate and timely determination of:
The policy maintains the proper disposition of Title IV funds, in accordance with 34 CFR 668.22 of the Code of Federal Regulations.
Reference: 2023–2024 Student Financial Aid Handbook, Volume 5, Chapter 1
Background
When a recipient of Title IV grant(s) and/or loan(s) withdraws from New York Institute of Technology during a payment period in which they began attendance, the university must determine the amount of the grant and/or loan assistance earned by the student as of their withdrawal date. This policy establishes steps that the university must take to ensure compliance with federal regulations.
Policy
New York Institute of Technology must always return any unearned Title IV funds that it is responsible for within 45 days of the date the university determined the student withdrew. New York Institute of Technology must offer any post-withdrawal disbursement of loan funds within 30 days of that date.
Note: On March 13, 2020, the President of the United States declared a national emergency due to COVID-19. The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on March 27, 2020. As a result of the national emergency due to COVID-19, New York Tech moved students from ground-based instruction to distance learning for the remainder of the spring 2020 semester, and for the fall 2020 semester. After that, classes resumed in a hybrid format.
For the summer 2020 semester and later (while the national emergency was still in place), a student must submit a written attestation explaining why the withdrawal was the result of the COVID-19 emergency in order to be eligible to retain all federal Title IV funds. Title IV funds will be returned as determined by the required R2T4 calculation for students who withdraw during these semesters; unless the student indicates, in writing, that the withdrawal is a result of COVID-19-related circumstances.
As of the date of this update, the National Emergency is set to expire on May 11, 2023.
Withdrawal Date
A student's withdrawal date varies depending on the type of withdrawal.
Reference: Determining a student's withdrawal date at a school that is not required to take attendance in the 2023–2024 Student Financial Aid Handbook, Vol. 5, Ch. 1, pp. 23–24.
Official Notification Provided
In a case when the student provides official notification of their intent to withdraw, New York Institute of Technology will use the date of notification as follows:
*To begin the withdrawal process, the student contacts the Office of the Registrar to obtain the appropriate withdrawal form. If the student both begins the withdrawal process and provides a notification to New York Institute of Technology, the earlier of the two dates will be used as the withdrawal date.
Official Notification Not Provided
In a case when the student does not provide official notification of their intent to withdraw, New York Institute of Technology may use the midpoint of the payment period as the date of withdrawal, with the following exception:
Last Date of Attendance
New York Institute of Technology may always use the withdrawal date as the student's last date of attendance at an academic activity reported by a faculty member on a course enrollment roster or final grade sheet. Examples of academic activities are exams, tutorials, computer-assisted instruction, academic counseling, turning in class assignments, or attending a study group assigned by the university. The faculty member will maintain documentation of the last date of attendance.
Date of Official Notification Not Provided
This is the date that New York Institute of Technology learns the student has ceased attendance. The university will perform the return to Title IV funds calculation and return any unearned funds no later than 45 days after the end of the payment period. For a student who withdraws without providing notification to New York Institute of Technology, the university must determine the withdrawal date no later than 30 days after the end of the earliest:
Reference: 2023–2024 Student Financial Aid Handbook, Vol. 5, Ch. 2, pp. 9–12
Rescission of Withdrawal
New York Institute of Technology may allow a student to rescind an official notification to withdraw by having them file a written statement that the student is continuing to participate in academic activities and intends to complete the enrollment period. If the student subsequently ceases to attend the institution prior to the end of the payment period, the rescission is negated, and the withdrawal date will be the last date of attendance at an academic activity. If the student subsequently withdraws (without ever returning to the university) after rescinding an intent to withdraw, the rescission is negated, and the withdrawal date will revert back to the date of the first official notification.
Calculation of Earned Title IV Assistance
U.S. Department of Education software will be used to perform all refund calculations. A copy of the completed calculation worksheet will be kept in the student's file in the Office of Financial Aid. The amount of Title IV assistance earned by the student is calculated by determining the percentage of grant and/or loan assistance earned by the student, and applying that percentage to the total amount of grant and/or loan assistance disbursed to the student or on the student's behalf for the payment period, as of their withdrawal date. The percentage of Title IV assistance earned will be equal to the percentage of the payment period completed by the student, when said percentage is 60 percent or less. If the student's withdrawal date occurs after the completion of 60 percent of the payment period, the percentage earned is 100 percent.
Withdrawal from Cycle Classes
A Cycle Class is defined as a course in a program that does not span the entire length of the payment period or the period of enrollment. A student who registers for a Cycle Class and then ceases to attend or fails to begin attendance is considered withdrawn, if the student is not attending any other classes and is not registered for a Cycle Class to begin at a later date within the enrollment period. A student is not considered to have withdrawn if the university obtains written confirmation at the time of withdrawal that the student will attend a Cycle Class to begin later in the same period of enrollment. This confirmation must be obtained at the time of withdrawal, even if the student has already registered for subsequent courses. If the student fails to return for the subsequent cycle, the date of withdrawal reverts back to the original withdrawal date in the earlier cycle.
Post-Withdrawal Disbursements
If the total amount of the Title IV grant and/or loan assistance earned by the student is more than the amount that was disbursed to the student as of the withdrawal date, the difference between the two amounts will be treated as a post-withdrawal disbursement. In the event of outstanding charges on the student's account, New York Institute of Technology will credit their account for all or part of the amount of the post-withdrawal disbursement, up to the amount of allowable charges.
If Direct Loan funds are used to credit the student's account, New York Institute of Technology will notify the student (or parent for a PLUS Loan) and provide the student (or parent) with the opportunity to cancel all or a portion of the loan(s).
Any amount of a post-withdrawal disbursement that consists of loan funds and has not been credited to a student's account will be offered to the student (or parent for a PLUS Loan) within 30 days of the date the university determines the student's withdrawal. Any earned grant funds that the student is eligible to receive due to a post-withdrawal disbursement will be provided within 45 days of the date of determination. Students will be notified of such disbursements in writing. The notification will include:
Upon receipt of a timely response from the student or parent, New York Institute of Technology will disburse funds in the manner specified in the response. Distribution will occur within 180 days of the date of determination of the student's withdrawal date. If no response is received from the student or parent, New York Institute of Technology will not disburse any of the funds. The university maintains the right to decide whether to make a post-withdrawal disbursement in the event that the student (or parent for a PLUS Loan) responds after 14 days of the date that notification was sent to them. If New York Institute of Technology decides not to make this post-withdrawal disbursement, it will inform the student (or parent) in writing. In the case of a post-withdrawal disbursement, grant funds will be disbursed prior to loan funds.
Refund of Unearned Funds to Title IV
If the total amount of Title IV grant and/or loan assistance that was earned by the student is less than the amount that was disbursed to the student as of the withdrawal date, the difference between the two amounts will be returned to Title IV programs and no further disbursements will be made. Funds will be returned as follows:
Refunds by the University
In the event that New York Institute of Technology is responsible for returning funds to Title IV programs, the funds will be returned in the order prescribed by the U.S. Department of Education (listed below) within 45 days of the date of determination of a student's withdrawal.
Refunds by the Student
In the event that the student is responsible for returning grant funds to Title IV programs, New York Institute of Technology will notify the student within 45 days of the date of determination of their withdrawal. The student will be advised of making arrangements for repayment.
Payment Period or Enrollment Period
Withdrawals and the return of Title IV funds will be based on a payment period for all standard term programs. Non-term program payments will be based on an enrollment period.
For a payment period or period of enrollment in which courses in the program are offered in modules:
Documentation
New York Institute of Technology must document a student's withdrawal date and the date of determination that the student withdrew. The documents will be kept in the student's academic file in the Office of the Registrar and the Office of Financial Aid in the case of an Official Withdrawal. Unofficial withdrawal dates are monitored within the Office of the Registrar. The return to Title IV funds calculation and other accompanying documentation will be secured in the Office of Financial Aid.
New York Institute of Technology is committed to helping students afford the opportunity for a valuable education. In order for the college to determine eligibility for any type of financial aid, all students (except international students) must complete the Free Application for Federal Student Aid (FAFSA) at studentaid.gov. Financial aid is provided through institutional, state, and federal funds for scholarships, grants, loans, and employment. Aid offers are designed to recognize scholastic achievement, service, and/or demonstrated financial need. The variety of financial aid programs available allows many students to greatly reduce their educational costs while attending New York Institute of Technology.
Students who qualify for special discounted tuition rates may not qualify for other institutional scholarships, or may have scholarships and other aid offers reduced accordingly. In the case of a tuition discount (e.g., tuition remission), scholarships received for credits taken in excess of maximum allowable discounted tuition will be prorated accordingly based on standard remaining credit ranges. In addition, students may only qualify for one discounted tuition program at a time. Any combination of scholarships and tuition credit awards cannot exceed tuition charges.
Financial aid offers are not guaranteed, and are subject to any and all revisions in federal, state, and institutional policies; availability of funds; changes in enrollment; minimum grade requirements; housing status; and timely submission of all required documentation, including official transcripts, as well as adjustment of any miscalculation of awards. A student's financial aid eligibility requires registration in appropriate program-level courses. It is the student's responsibility to request, complete, and submit all forms with necessary documentation for all financial aid programs, including scholarships, in a timely manner. Financial aid offers are not granted retroactively and are subject to funds availability. All students must meet Satisfactory Academic Progress (SAP) requirements at all times in order to receive and retain financial aid. The university reserves all rights to review and/or modify its financial aid programs. All programs are subject to change due to revisions in federal or state government or institutional policies.
It is the student's responsibility to be aware of all filing deadlines for financial aid and to notify the Office of Financial Aid of any changes in enrollment, housing status, and dependency. Students should be aware that in the event of an over award, a situation that occurs when the amount of aid exceeds the student's financial need or cost of attendance, federal regulations require that the aid be reduced to within the student's established educational cost of attendance.
The following guidance provides eligible students with general information about the Family Educational Rights and Privacy Act (FERPA) …
Graduate or professional students are considered independent for federal student aid purposes …
Repeating courses may significantly impact Satisfactory Academic Progress (SAP) and eligibility for Title IV federal financial aid and institutional aid.
Veterans may qualify for additional benefits, including the Yellow Ribbon Program. For more information, contact the following agencies:
More Information:
New York Institute of Technology's study abroad programs offer exciting and effective ways to learn about the rapidly changing world and offer students opportunities to experience different cultures …
New York Tech students who want to attend other institutions in the United States or abroad for a semester may be able to use federal financial aid under a consortium agreement …
New York Tech students who want to attend other non-Title IV eligible institutions in the United States or abroad for a semester may be able to use federal financial aid under a contractual agreement …
The Cooperative Tuition Certificate is an award that recognizes cooperating professionals/clinical instructors for mentoring New York Tech students…
If you enroll in higher education for the first time on or after July 1, 2012, in order to be eligible for federal student aid, you must have either a high school diploma or a recognized equivalent (such as a General Educational Development (GED) certificate or a homeschool education).
All graduate students transferring from other institutions will have their credits evaluated by the Office of Admissions prior to admittance to the university. The annual and aggregate limits for graduate-level loans are not contingent upon the number of transfer credits accepted by New York Institute of Technology.
Students must be fully accepted and matriculated into an approved graduate program to be eligible for federal student aid funds.
Students enrolled in a combined undergraduate/graduate program are considered undergraduate for the first 90 credits for the purposes of awarding federal student aid. Upon satisfactory completion of 90 undergraduate credits, they become eligible to receive federal student loans at the graduate level.
A graduate student who is required to complete preparatory undergraduate coursework may be eligible for federal student loans.
GI BILL® is a registered trademark of the US Department of Veterans Affairs (VA). More information about education benefits offered by VA is available at the official US government website at http://www.benefits.va.gov/gibill.
The transferability option under the Post-9/11 GI BILL® allows service members to transfer all or some unused benefits to their spouse or dependent children. The request to transfer unused GI BILL® benefits to eligible dependents must be completed while serving as an active member of the U.S. Armed Forces. The Department of Defense (DoD) determines whether or not you can transfer benefits to your family. Once the DoD approves benefits for transfer, the new beneficiaries apply for them at VA. To find out more, visit the DoD's website.
Eligible service members may transfer all 36 months or the portion of unused Post-9/11 GI BILL® benefits (unless DoD or the Department of Homeland Security has limited the number of transferable months). If you're eligible, you may transfer benefits to the following individuals:
Family members must be enrolled in the Defense Eligibility Enrollment Reporting System (DEERS) and be eligible for benefits at the time of transfer to receive transferred benefits.
Please visit the DoD's milConnect site to determine if you are eligible to transfer your benefits.
The option to transfer is open to any member of the armed forces active duty or Selected Reserve, officer or enlisted who is eligible for the Post-9/11 GI BILL®, and meets the following criteria:
Transfer Process
While in the armed forces, transferors use the Transfer of Education Benefits (TEB) website to designate, modify, and revoke a Transfer of Entitlement (TOE) request. After leaving the armed forces, transferors may provide a future effective date for use of TOE, modify the number of months transferred, or revoke entitlement transferred by submitting a written request to the VA.
Upon approval, family members may apply to use transferred benefits with VA by printing, completing, and mailing the VA Form 22-1990e to your nearest VA regional office or by applying online. VA Form 22-1990e should only be completed and submitted to VA by the family member after DoD has approved the request for TEB. Do not use VA Form 22-1990e to apply for TEB.
A child's subsequent marriage will not affect their eligibility to receive the educational benefit; however, after an individual has designated a child as a transferee under this section, the individual retains the right to revoke or modify the transfer at any time.
A subsequent divorce will not affect the transferee's eligibility to receive educational benefits; however, after an individual has designated a spouse as a transferee under this section, the eligible individual retains the right to revoke or modify the transfer at any time.
The combined tuition benefits available to a student cannot exceed the student's total tuition costs. Tuition payments received by a student under the Post-9/11 GI BILL® (Chapter 33 veteran benefits) and Yellow Ribbon Program are considered duplicative of any VTA and/or TAP award. Students receiving tuition assistance through these programs may, and in most cases will, have their state VTA and/or TAP payment reduced or denied due to these other benefits. However, payments received under the Montgomery GI BILL® do not duplicate the purpose of the VTA and/or TAP.
If a service member wants to reallocate transferred benefits, they can do so using the TEB Portlet in MilConnect. If a veteran wants to reallocate benefits, they should contact the VA.
If transferred benefits are totally revoked for a dependent, a service member must resubmit a transfer request for the dependent via MilConnect; a veteran cannot re-transfer benefits to a dependent if the dependent's transfer eligibility was previously totally revoked.
The Harry W. Colmery Veterans Assistance Act of 2017 allows for designation and transfer of Post-9/11 GI BILL® benefits to eligible dependents of the veteran/service member upon the death of the veteran/service member or of a dependent who had unused transferred benefits.
Family member use of transferred educational benefits is subject to the following rules:
Spouses
Children
Get the fact sheet on transferability of Post-9/11 GI BILL® benefits, or visit va.gov for more information. For specific questions about your eligibility, the status of your transfer request, and service-specific questions about the TEB Portlet, please contact the career counselor or personnel center from the list below:
| Branch of Service | Contact |
|---|---|
| Army Active Duty Officer | |
| Army Active Duty Enlisted | |
| Army National Guard | |
| Army Reserve (Enlisted and Officer) | |
| Navy Active Duty Personnel | 866-827-5672 DSN 882-5672 |
| Navy Reserve | Tel. 800-621-8853 Fax. 757-444-7597/7598 |
| Marine Corps Active Duty Officer | |
| Marine Corps Active Duty Enlisted | |
| Marine Corps Reserve | |
| Air Force Active Duty | 800-525-0102 210-565-5000 DSN 665-5000 |
| Air National Guard | Contact unit Retention Managers |
| Air Force Reserve | 800-257-1212 |
| Coast Guard Active Duty | |
| Coast Guard Reserve | |
| National Oceanic and Atmospheric Administration (NOAA) | 301-713-7728 |
| U.S. Public Health Service (USPHS) | 240-453-6130 |
The following guidance provides eligible students with general information about the Family Educational Rights and Privacy Act (FERPA).
This document is a compilation and update of various letters and guidance documents previously issued that respond to a variety of questions about FERPA. While this guidance reflects our best and most current interpretation of applicable FERPA requirements, it does not supersede the statute or regulations.
FERPA is a federal law that is administered by the Family Policy Compliance Office in the U.S. Department of Education. 20 U.S.C. section 1232g; 34 CFR Part 99. FERPA applies to all educational agencies and institutions (e.g., schools) that receive funding under any program administered by the department. Parochial and private schools at the elementary and secondary levels generally do not receive such funding and are, therefore, not subject to FERPA. Private postsecondary schools, however, generally do receive such funding and are subject to FERPA.
Once a student reaches 18 years of age or attends a postsecondary institution, they become an "eligible student" and all rights formerly given to parents under FERPA, transfer to the student. The eligible student has the right to have access to their education records, the right to seek to have the records amended, the right to have control over the disclosure of personally identifiable information from the records (except in certain circumstances specified in the FERPA regulations, some of which are discussed below), and the right to file a complaint with the department. The term "education records" is defined as those records that contain information directly related to a student and which are maintained by an educational agency or institution or by a party acting for the agency or institution.
FERPA generally prohibits the improper disclosure of personally identifiable information derived from education records. Thus, information that an official obtained through personal knowledge or observation, or has heard orally from others, is not protected under FERPA. This remains applicable even if education records exist that contain this information, unless the official had an official role in making a determination that generated a protected education record.
Under FERPA, a school is not generally required to maintain particular education records or education records that contain specific information. Rather, a school is required to provide certain privacy protections for those education records that it does maintain. Unless there is an outstanding request by an eligible student to inspect and review education records, FERPA permits the school to destroy such records without notice to the student.
For further information, please see Student Privacy and FERPA/PIPA at New York Institute of Technology.
The New York Tech Athletics Program has been suspended indefinitely due to the pandemic.
For the 2024–2025 academic year, we are honoring the athletic scholarship amounts in the 2020–2021 Athletic Agreement Letters, provided that students attend full time and continue to make satisfactory academic progress towards degree completion.
The Federal Perkins loan program ended on September 30, 2017, with final disbursements permitted through June 30, 2018 by federal law. Students can no longer receive Federal Perkins loans.
The Federal Perkins loan is a fixed-rate, low-interest loan from the federal government. The interest rate is fixed at 5 percent. Repayment on Federal Perkins loans begins nine months after the borrower leaves school or drops below half-time attendance. For first-time loans disbursed after October 1, 1992, the borrower will make minimum monthly payments of $40. Perkins loans are subsidized by the Federal Government, therefore; interest will not accrue until repayment begins.
Perkins loans are eligible for federal loan cancellation. This allows 50 percent of your original debt to be cancelled with three-year service as a teacher in certain areas or as a volunteer in the Peace Corps. More information is available at studentaid.gov.
Your Rights as a Federal Perkins Loan Borrower
You are entitled to:
Your Responsibilities as a Federal Perkins Loan Borrower
You must:
Reference: 2023–2024 Federal Student Handbook Volume 6, Chapter 3
Student expenses vary with the individual's academic program, schedule of classes, and whether the student commutes or lives in a residence hall. For the full-time student, the only fixed costs are tuition and the college fee based on the academic program.
Variable costs include food, housing, transportation, books, course materials, supplies, and equipment, and other personal expenses. The cost of meals on campus varies. The cost of books and personal expenses depends on the student's major and budget choices for leisure activities. Transportation costs vary by distance from the college and mode of transportation, including whether the student carpools.
Students with unusual expenses or special budgetary concerns should consult the Office of Financial Aid.
For more information, please see the Office of Financial Aid: Costs and Allowances.
Federal Reference: 2023–2024 Federal Student Handbook, Vol. 3 Ch. 2: Cost of Attendance (Budget)