Updates - NYIT and Hurricane Sandy

Financial Aid FAQs: Sandy Recovery

Nov 05 2012

What if I need to attend another school for a semester or need to transfer to a different school?
If you would need to attend another school for a semester because of a natural disaster ("Sandy"), and you have academic approval from your department, you can utilize your federal student aid at that school, as long as the school you need to attend will sign a Consortium for Federal Student Aid with NYIT. Contact the NYIT financial aid office at finaid@nyit.edu or at 516 686-7680 to find out further information.

If you wish to transfer to a different school, you should contact the financial aid office at your new school as soon as possible so that the new school can request your federal financial aid records. This early contact will also allow the new school to provide you with information needed to support a request for financial aid.

 

What are my options if my aid eligibility was impacted by a natural disaster but my application does not reflect this change?
The financial aid office is authorized to utilize professional judgment in order to more accurately reflect the financial need of students and families affected by a disaster. If you feel that your eligibility for aid was impacted by the disaster, you should contact the financial aid office at your school to ask for a re-assessment of eligibility.

 

Do I need to claim on my FAFSA any disaster-related support I received from either the state or the U.S. Department of Education?
No. If you received any special aid from the federal government or from your state, for providing financial relief, it should not be counted as income, other resources, or other financial assistance when determining your eligibility for federal student aid.

 

What if documentation that I need to apply for financial aid has been damaged or lost by a natural disaster?
It is possible that you will be asked to provide documentation to verify information from your financial aid application. If the documentation being requested has been lost or destroyed by the disaster, you should immediately inform the school. The school may make a determination not to require those specific documents and ask for other documentation.

 

I have a federal student loan and I was not able to complete my school year due to the natural disaster ("Sandy"). What are my options?
If you are a federal student loan borrower who was not able to complete your school year because of the disaster, you will be provided with an extended "in-school" status until you officially withdraw or re-enroll in the next regular enrollment period, whichever is earlier. This action will prevent you from entering repayment status on your loan. Contact the school to request this action. Borrowers who have questions about their Federal Family Education Loan (FFEL) Program loan should contact their lender directly or they can call 1-800-4FEDAID . Borrowers who have questions about their federally owned loans (Direct Loans or FFEL Purchased Loans) should contact their federal loan servicer directly. Federal Loan Servicer contact information is available on the Federal Student Aid Loan Servicers Web page. You can also call 1-800-4FEDAID.

 

I was displaced from my home in the natural disaster ("Sandy"). As a result, I am having trouble making payments on my federal student loan. What are my options?
If you are a borrower in repayment who was adversely affected by the natural disaster, you qualify for administrative forbearance of loan repayment for a period of up to three months. During forbearance, payments are temporarily postponed or reduced. However, interest is still charged during the forbearance period. You should contact your lender or loan servicer to request this forbearance.

Borrowers who have questions about their federally owned loans (Direct Loans or FFEL Purchased Loans) should contact their federal loan servicer directly. Federal Loan Servicer contact information is available on the Federal Student Aid Loan Servicers Web page. You can also call 1-800-4FEDAID.

Governor Cuomo announced recently that the New York State Higher Education Services Corporation (HESC) will grant temporary student loan relief to New Yorkers who were affected by Hurricane Sandy. If requested, New Yorkers in Bronx, Kings, Nassau, New York, Queens, Richmond, Rockland Suffolk and Westchester counties are now eligible to receive a 90 day grace period, from October 27, 2012 to January 25, 2013, in order to repay their student loan payments. All members of the military who have been called to assist in the aftermath of Hurricane Sandy will also be eligible. Borrowers should contact HESC to request a temporary suspension by calling 1-866-991-HESC (4372) or by emailing Dept736@hesc.ny.gov.

 

Sandy Recovery - NYIT Student Hotline:  516.686.7799.

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