Steps in Applying for Federal Student Loans in the Federal Direct Loan Program

1. Complete the FAFSA
2. Complete and return your award letter by fax, mail, in person, or via online at NYIT Connect
3. PLUS loans also require a credit check application to be completed (Graduate PLUS or Parent PLUS)
4. Complete appropriate Master Promissory Notes (First-time Direct Loan Borrowers Only)
5. Complete appropriate Federal Direct Loan Entrance Counseling (First-time Direct Loan Borrowers Only)
6. Complete any other necessary documents the Office of Financial Aid may require. (Authorization Statement, Verification, etc.)

For further information regarding the Federal Direct Loan Program visit the United States Department of Education online for information about the program themselves.

Student Loan Repayment

All students should attend an in person "Exit Counseling Session" during their final semester at NYIT. The purpose of this session is to make sure that students understand their rights and responsibilities as they enter repayment.

Do you have an accurate record of all your federal student loans? As you enter repayment, you should check your records on the National Student Loan Data System.

Another good general resource is Mapping your Future's Deferment Navigator.

Eligibility Rules for Graduate Subsidized Direct Loans (Effective July 1, 2012)

The Federal Budget Control Act of 2011 has eliminated Subsidized Stafford Loans for graduate students.

For any period of enrollment beginning on or after July 1, 2012, graduate students will no longer be eligible to borrow Subsidized Stafford Loans. Graduate students may continue to borrow Unsubsidized Stafford Loans and Graduate PLUS Loans. The terms and conditions of Direct Subsidized Loans received by any student for loan periods beginning before July 1, 2012 are not affected by this change. This only affects NEW loans made on or after July 1, 2012.

If you have any questions regarding this new law, please contact the Financial Aid Office at 516.686.7680 or finaid@nyit.edu.

Need More Help?

• Application Instructions