FAQ
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.
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, NY.
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.
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.
A: An actual award letter can be expected in nine to twelve weeks, contingent on peak processing periods, after the application is completed. NOTE: Prompt attention to requests for additional information will avoid delays in the processing of your financial aid awards. If you apply by the March 1 deadline, you should receive your Award Letter before your tuition bill is due. New admitted students who apply by Feb. 15 and submit all required documents should receive their award letter by May 1st.
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.
A: Part-time students are eligible for limited forms of financial assistance. Students can apply for Pell Grants, 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. 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.com. Be sure that FIT’s appropriate school code (2070 for AAS and one-year students; 0975 for BA students; and 5750 for Graduate students) is used when you fill out an application.
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.
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. FIT's deadline for priority consideration is Feb. 15 for new students, March 1 for continuing students.
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.
Q: My parents don't claim me as a dependent on their tax returns and don't want to help pay for college. The FAFSA instructions indicate that I'm dependent, what do I do?
A: By federal definition you are a "dependent student" if you are under 24 years old. A parent's refusal to provide financial assistance or the required FAFSA information is not a valid reason for such a determination. If there are other extenuating circumstances that affect your dependency status, you must speak to a counselor regarding the specifics of your situation.
A: If this is the student’s first Stafford Loan or Perkins Loan at FIT, the student must complete an entrance interview/counseling session. In order to meet Stafford Loan requirement, the student can attend one of the group sessions provided by the Financial Aid Department or the student can complete the requirement online at http://www.dl.ed.gov. Perkins Loan's entrance/exit interviews are administered by FIT's Bursar's Office.
Q: How do I apply for a Parent Loan and how much am I eligible to borrow?
A: Parents of dependent students are eligible to apply for a Parent Loan (PLUS) for the cost of education minus any financial assistance.
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. The Financial Aid Office assigns jobs. The hourly rates range between $7.15 per hour on-campus and up to $10.80 per hour for off-campus jobs
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 the Financial Aid Office regarding Summer Pell or other aid available.
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: The Registrar at the college maintains your address. You must contact that office regarding any address changes.
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). 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 your award letters will be sent to the address maintained by the Registrar.