FAQ
Does FIT require that I submit any forms in addition to a Free Application for Federal Student Aid (FAFSA)?
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: Apply for Financial Aid
What is FIT's "Title IV" School Code for the FAFSA?
Our code is 002866. Be sure to include the name Fashion Institute of Technology and our address, 227 West 27th Street, New York, New York 10001.
How do I renew my FAFSA?
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. You will be required, and if you are a dependent student, your parent will also need to use an FSA ID.
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: Apply for Financial Aid
When will I receive an award letter?
Newly admitted students who apply by the priority deadline of February 1 and submit all required documents should receive an email before May 1 containing financial aid award information. Current/continuing students who apply by the February 1 deadline and submit any requested documentation by June 1 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. Students that have applied on time and submitted all required documentation by June 1 will be processed in time for financial aid to be credited to their FIT statements.
I am not matriculated in a degree program. Can I still get financial aid?
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.
I can't take twelve or more credit hours and will be a part-time student. Can I apply for financial aid?
Part-time students are eligible for limited forms of financial assistance. Students can apply for Pell Grants, Direct 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.
I am a New York state resident, how can I apply for the Tuition Assistance Program (TAP)?
See: State Grants
I am a New York state resident, how can I apply for the Excelsior Scholarship?
See: State Grants
I know that I won't qualify for any financial aid, so why should I submit a Free Application for Federal Student Aid?
This assumption is a common mistake made by both students and parents. If you are a U.S. 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.
Do I need to be admitted before I apply for financial aid?
No, you should apply for aid as soon as possible by February 1; however, to receive your award letter you must be accepted into a degree program.
Do I have to apply for financial aid every year?
Yes, if you want to receive financial aid you must apply every year. The FAFSA application will be available after October 1 for the following academic year, using the prior year tax information. The FIT deadline for priority consideration is February 1.
I've heard about scholarship money available nationwide that nobody claims. How do I get it?
There are free scholarship searches on the web and the public library is also an excellent source of information. There are funds available, but this will require some research and work. Beware of search firms that charge fees. See: Scholarships
What is an entrance interview/counseling session?
If you are receiving your first Direct Stafford Loan at FIT, you must complete an Entrance Counseling/Interview session. You can attend one of the group sessions provided by Financial Aid Services or you can complete the requirement online at StudentAid.gov/entrance-counseling/.
How do I apply for a Direct Parent Loan and how much am I eligible to borrow?
How do I apply for a Graduate PLUS Loan and how much am I eligible to borrow?
See: Graduate PLUS Loan
According to my award letter I am eligible for Federal Work-Study. How do I get this money?
The Federal Work-Study Program provides both on-campus and off-campus employment opportunities. Financial Aid Services administer these jobs. Effective January 1, 2024, the hourly rate will be $16.00 for on-campus and off-campus jobs.
May I use my financial aid funds to buy books and supplies?
If you are 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.
Can I apply for financial aid for the summer?
Pell eligible students may be eligible for Pell Grant funding for the summer. Inquire at Financial Aid Services regarding summer Pell or other available aid .
I am an international student. Am I eligible for financial aid?
If you are attending college on a student visa you do not qualify for federal or state aid; however, we recommend applying for outside or private scholarships, as well as contacting your embassy for information. Some Alternative/Private Loans are available with a qualified U.S. co-signer.
My mail has been going to the wrong address even though I changed it. What should I do?
At FIT, the Office of the Registrar maintains your address. You must contact that office regarding any address changes.
For changes to your address on the FAFSA, if you have a FSA ID and your application has been processed, then you may update your address on the FAFSA website. It is important that the college as well as all other aid agencies (Department of Education, your lenders), have a valid address so you can be reached.