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FAQ

Q:  Does FIT require that I submit any forms in addition to a Free Application for Federal Student Aid (FAFSA)?   
A: No, FIT does not have a school-specific form. However, we may ask you to submit documents to verify the information that you supplied on the FAFSA.  See "How to Apply"

Q: What is FIT's "Title IV" School Code for the FAFSA?
A: Our code is 002866. Be sure to include the name Fashion Institute of Technology, and our address, Seventh Avenue at 27th Street, New York, New York 10001.

Q: How do I renew my FAFSA?
A: If you applied for financial aid last year and meet certain conditions, the U.S. Department of Education will send you an electronic notification for a Renewal FAFSA on the Web. You will be required to use your PIN number. If you are a dependant student your parent will also need to use his or her pin number. A renewal FAFSA requests the same information that a regular FAFSA requires, however, the renewal contains most of the information you submitted on your application last year. You will be asked to update specific information required for the new school year. If you prefer, you can start a new FAFSA. To reapply you should submit only one application per academic year.  See "How to Apply"

Q:  I'd like to apply on time, but my parents haven't filed their tax returns yet. What should I do? 
A: You should apply on time using estimated income, using the information from your W-2’s and the previous year’s tax return as a guide. Corrections can be made after you receive your Student Aid Report (SAR) from the federal processor and tax returns are filed. You may be asked to provide your tax returns at a later time, so keep copies when the forms are filed.

Q:  When will I receive an actual award letter?  
A:  New admitted students who apply by Feb. 15 and submit all required documents should receive an actual award letter before May 1st.  If a new student’s application is incomplete we will send an “estimated” financial aid notification.Current students who apply by the March 1 deadline and complete their application, should receive financial aid notification before July 1.  NOTE: Prompt attention to requests for additional information will avoid delays in the processing of your financial aid.

Q:  I am not matriculated in a degree program. Can I still get financial aid? 
A:  No, you must be in a degree program in good academic standing to be eligible for financial aid. Some alternative loans are available based on your credit or with a qualified co-signer.

Q:  I can't take 12 or more credits and will be a part-time student. Can I apply for financial aid?  
A: Part-time students are eligible for limited forms of financial assistance. Students can apply for Pell GrantsDirect Stafford Loans or aid from the Part-Time Study program (APTS), which is for New York State residents only. A student may also qualify for Part-time TAP by applying for aid through the TAP program.

Q:  I am a New York State resident, how can I apply for the Tuition Assistance Program (TAP)? 
A: In order to be eligible for TAP, a student must first complete the FAFSA and must be taking 12 credits that are required in their degree program (a student registered for less than 12 credits might be eligible for either Part-time TAP or Aid for Part-Time Study - APTS). Students can complete the TAP application at the same time they complete the FAFSA by using the link in the paragraph below the confirmation number on the final page of the FAFSA web application. If the student does not apply at that time, an email from HESC will be sent to the student with instruction for completing the online TAP application. If more than two weeks pass after you submit your FAFSA and you have not been contacted by HESC, then go to www.hesc.ny.gov. Be sure that FIT’s appropriate school code (2070 for AAS and one-year students; 0975 for BA students is used when you fill out an application.   See "How to Apply"

Q:  I know that I won't qualify for any Financial Aid, so why should I submit a Free Application for Federal Student Aid? 
A: This assumption is a common mistake made by both students and parents alike. If you are a US Citizen or eligible non-citizen, and you're at least a half-time student in a degree program, you may be eligible for some type of aid, regardless of your or your parent's income or assets.  

Q:  Do I need to be admitted before I apply for financial aid?   
A: No, you should apply for aid as soon as possible by Feb. 15. To actually receive your award letter, however, you must be accepted into a degree program. 

Q:  Do I have to apply for Financial Aid every year?  
A: Yes, if you want to receive financial aid you must apply every year. File your FAFSA as soon after January 1st as possible. You may not file earlier than the January 1st prior to the upcoming academic year. The FIT deadline for priority consideration is Feb. 15 for new students, March 1 for continuing students.  

Q:  I've heard about scholarship dollars that are available nationwide every year in aid funds that nobody claims; how do I get it?
A: There are free scholarship searches on the web and the public library is also an excellent source of information. There are funds available; this may require some research and work. Beware of search firms that charge fees. Other Scholarships

Q:  What is an entrance interview/counseling?  
A: If this is the student’s first Direct Stafford Loan or Perkins Loan at FIT, the student must complete an entrance interview/counseling session. In order to meet Direct Stafford Loan requirement, the student can attend one of the group sessions provided by Financial Aid Services or the student can complete the requirement online at www.studentloans.gov. Perkins Loan's entrance/exit interviews are administered by FIT's Bursar's Office.

Q:  How do I apply for a Direct Parent Loan and how much am I eligible to borrow?  
A: Parents of dependent students are eligible to apply for a Direct Parent Loan (PLUS) for the cost of education minus any financial assistance.

Q:  How do I apply for a Graduate PLUS Loan and how much am I eligible to borrow?   
A: Students in a graduate program are eligible to apply for a Graduate PLUS Loan.

Q:  According to my award letter I am eligible for Federal Work Study. How do I get this money? 
A: The Federal Work-Study program provides both on-campus and off-campus employment opportunities. Financial Aid Services assigns jobs. The hourly rates range between $7.25 per hour on-campus and up to $10.25 per hour for off-campus jobs.

Q:  May I use my financial aid funds to buy books and supplies?
A.  For students expecting private loans, and/or other financial aid to cover rent, books, and any other non-FIT costs, please come to FIT prepared to pay for these items. Refund checks will not be issued until the end of the first week of classes AND then only if the funds are in your account.  Please be aware that TAP and APTS Grants disburse later in the semester.

Q:  Can I apply for financial aid for the summer? 
A: Pell eligible students may be eligible for Pell Grant funding for the summer. Inquire at Financial Aid Services regarding Summer Pell or other aid available.  

Q:  I am an international student. Am I eligible for financial aid?
A: If you are attending college on a student visa you do not qualify for Federal and State aid. However, we recommend applying for outside or private scholarships as well as contacting your embassy for information, which may assist you. Some alternative loans are available with a qualified US co-signer.   

Q:  My mail has been going to the wrong address even though I changed it. What should I do? 
A: At FIT the Registrar at the college maintains your address. You must contact that office regarding any address changes. Change of Address Form

For changes to your address on the FAFSA, if you have a PIN and your application has been processed, then you may use “Corrections on the Web” on the FAFSA website. If you do not have a PIN, you should call the Federal Information Center for FAFSA at 1-800-4-FED-AID (1-800-433-3243) or go to www.pin.ed.gov. You can also contact a customer service representative online, by selecting the "Live Help'' button on the FAFSA website. It is important that the college as well as any agency, (i.e. the Federal processor, and your lenders), have a valid address so they can reach you. Requests for documents and letters will be sent to the address maintained by the Registrar.

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