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Federal Student Financial Aid
Pell Grant: Pell Grants are the foundation of federal student financial aid, to which aid from other federal and nonfederal sources might be added. Pell Grants are generally awarded only to undergraduate students — those who haven’t earned a bachelor’s or graduate degree. Amounts change yearly.
Federal Supplemental Educational Opportunity Grant (FSEOG): FSEOGs are awarded to undergraduate students with exceptional financial need—those with the lowest Expected Family Contribution (EFC) numbers. Federal Pell Grant recipients receive priority for FSEOG awards.
Academic Competitiveness Grant (ACG): This is a new grant program that began in the 2006 – 2007 award year for full-time undergraduate students enrolled in an eligible program, who receive Federal Pell Grants. Beginning in the 2009 - 2010 award year, half time students may also receive ACG provided they meet all other eligibility requirements. Students also must have completed a rigorous secondary school program of study and be enrolled in at least a two-year academic program acceptable for full credit toward a bachelor’s degree or enrolled in a graduate degree program that includes three academic years of undergraduate education.
National Science and Mathematics Access to Retain Talent Grant (National SMART Grant): This is a new grant program for full-time undergraduate students who are enrolled in the third or fourth academic year of an eligible program, who receive Federal Pell Grants. Beginning in the 2009 - 2010 award year, half time students may also receive SMART provided they meet all other eligibility requirements. An eligible program in the National SMART Grant is one that leads to a bachelor’s degree in an eligible major or a graduate degree program in an eligible major that includes at least three academic years of undergraduate education.
Federal Work-Study Program: Under the FWS Program, you can work part-time to earn money for your education. The FWS Program provides part-time employment while you are enrolled in school, helps pay your educational expenses and is administered by schools participating in the FWS Program.
Federal Perkins Loans: This loan is available through participating schools to undergraduate, graduate and professional degree students. They are offered by participating schools to students who demonstrate financial need. It is made to students enrolled full-time. This loan is repaid by you to your school.
Federal Subsidized Stafford Loan: This loan is available to students who demonstrate financial need. The U.S. Department of Education pays the interest while you’re in school at least half-time, for the first six months after you leave school, or during a period of deferment (a postponement of loan payments).The amount of your subsidized loan cannot exceed your financial need.
Federal Unsubsidized Stafford Loan: This loan does not require students to demonstrate financial need. The U.S. Department of Education does not pay interest on unsubsidized loans. You’re responsible for paying the interest that accrues on the loan from the time the loan is disbursed until it’s paid in full. Depending on your financial need, you may receive both subsidized and unsubsidized loans for the same enrollment period, but the total amount of these loans may not exceed the annual loan limit. You can pay the interest while you’re in school or during a period of deferment or forbearance. Or, you can allow the interest to accrue (accumulate) and have the interest added to the principal amount of your loan.
Federal Parent PLUS (Parent Loan for Undergraduate Student) Loan: PLUS applicants must meet the general eligibility requirements for federal student financial aid. If a parent is borrowing on behalf of a dependent undergraduate student, the student must also meet these general eligibility requirements. For example, the PLUS applicant and the student must be a United States citizen or eligible noncitizen, not be in default on a federal student loan, and not owe a refund on a federal education grant. A PLUS Loan applicant must not have an adverse credit history. (A credit check will be conducted.) A PLUS Loan applicant who has an adverse credit history still may be able to receive a loan by documenting existing extenuating circumstances or by obtaining an endorser who does not have an adverse credit history. An endorser is someone who agrees to repay the loan if the borrower fails to do so.
Federal Graduate PLUS Loan: The law now allows graduate and professional degree students to borrow from the PLUS program. The terms and conditions applicable to parent PLUS Loans (made to parents of dependent students) also apply to PLUS Loans made to graduate and professional degree students.
New York State Financial Aid
Tuition Assistance Program (TAP) Grant: The New York State Tuition Assistance Program (TAP) helps eligible New York residents pay tuition at approved schools in New York State. Depending on the academic year in which you begin study, an annual TAP award can be up to $5,000. Because TAP is a grant, it does not have to be paid back.
Part-Time TAP: To be eligible for Part-Time TAP you must have been a first-time freshman in the 2006-07 academic year or thereafter, have earned 12 credits or more in each of two consecutive semesters, and maintain a “C” average. Part-Time TAP is not the same as Aid for Part-Time Study.
Aid for Part-Time Study (APTS): The Aid for Part-Time Study (APTS) Program can provide up to $2,000 per year in grant assistance for eligible part-time students enrolled for at least 3 but fewer than 12 credits. Awards cannot exceed tuition charges. Eligibility is determined based on New York State net taxable income from the preceding calendar year. Aid for Part-Time Study applicants must not have exhausted their eligibility for New York State Tuition Assistance Program (TAP) awards.
Additional requirements include, but are not limited to, New York State legal residency, U.S. citizenship or eligible noncitizen status, favorable academic standing, and fulfillment of income eligibility limitations.
Applications for Aid for Part-Time Study (APTS) can be obtained at the Financial Aid Office, the Student Solutions Center, and online via the following link: APTS Application. Funding is limited and awarded on a first come, first serve basis.
For specific questions regarding the Aid for Part-Time Study (APTS) Program, please contact the Financial Aid Office at 516.686.7680 for the Old Westbury campus, 212.261.1590 for the Manhattan campus, via e-mail at finaid@nyit.edu, or visit the Student Solutions Center.
Vocational and Educational Services for Individuals with Disabilities (VESID): The Mission of the Office of Vocational and Educational Services for Individuals with Disabilities (VESID) is to promote educational equity and excellence for students with disabilities while ensuring that they receive the rights and protection to which they are entitled; assure appropriate continuity between the child and adult services systems; and provide the highest quality vocational rehabilitation and independent living services to all eligible persons as quickly as those services are required to enable them to work and live independent, self-directed lives.