Eligibility for Financial Aid

Your eligibility for assistance is based on two factors: the cost of attending New York Institute of Technology (NYIT) and your family’s ability to pay.

  • Our cost estimate of the full expense associated with attending New York Tech for the academic year includes average tuition, fee, book charges, and allowances for transportation and personal expenses. For local students commuting from home, the estimate also includes a commuter allowance; other students will have a room and board allowance added to the cost estimate.
  • Family ability to pay is determined by a formula supplied by the U.S. Congress, and is based on information from your FAFSA.  The results are forwarded to the schools you listed on the FAFSA to determine aid eligibility. If you are curious about how your family contribution was calculated, you can use the calculators on Finaid: The Smart Student Guide to Financial Aid.
  • If your family ability to pay is lower than the cost, the difference is your aid eligibility for need-based programs. The philosophy of the federal need-based aid programs is that the family has the primary responsibility, to the extent that they are able, to contribute to the cost of attending college.

Your financial aid package and eligibility for federal, state, and institutional aid may be revised:

  • if you are pursuing an undergraduate level program of study but are registered for graduate level courses.
  • if you are pursuing a graduate level program but are registered for undergraduate level courses (unless approved by your academic advisor as preparatory coursework and the Office of Financial Aid has been notified).

Learn more

If you need more information about your eligibility, please contact the Office of Financial Aid.

Maintaining Eligibility

If you are receiving federal financial aid funds, you must make Satisfactory Academic Progress (SAP) toward completing their degree program in a timely manner.

If you receive NYIT scholarships, you must be enrolled full-time every semester (undergraduate – 12 credits or more; graduate – 9 credits or more) and satisfy cumulative grade point average requirements as outlined in the NYIT catalog.

If an enrolled student is convicted for any offense under federal or state law involving the possession or sale of illegal drugs, and that conviction occurs while the student is receiving federal financial aid, the student will lose eligibility for any such aid, including grants, loans, and work-study assistance.


Student loan eligibility is capped at the cost of attendance, minus other aid received. The Higher Education Act of 1965 defines the cost of attendance as including:

  • Tuition and fees
  • Room and board (including off-campus housing)
  • Books and supplies
  • Transportation (travel to/from school)
  • Miscellaneous personal expenses
  • Rental or purchase of required equipment, materials, and supplies
  • Personal computer
  • Dependent care expenses
  • Disability-related expenses
  • Loan fees
  • Licensing and certification fees for programs requiring professional licensure or certification
  • Costs associated with study abroad programs approved for credit

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. Graduate students may continue to borrow Unsubsidized Stafford Loans and Graduate PLUS Loans. See instructions.

If you have any questions regarding this eligibility rule, please contact the Office of Financial Aid.   

150% Direct Subsidized Loan Limit (Effective July 1, 2013)

On July 6, 2012, the Moving Ahead for Progress in the 21st Century Act (MAP-21)(Public Law 112-141) was enacted and limits a first-time borrower's eligibility for Direct Subsidized Loans to a period not to exceed 150% of the length of the borrower's educational program. In May 2013, interim final regulations were implemented.

As outlined in your entrance counseling, the subsidized loan has slightly better terms than the unsubsidized: historically, the U.S. Department of Education has paid the interest for a subsidized loan while you're in school at least half-time and the interest rate has been lower than the rate for unsubsidized loans. If you are a first-time borrower or have paid off previous loans, MAP-21 affects you by limiting the time period during which you can receive Direct Subsidized loans to 150% of the standard, published length of the program in which you are enrolled. For a 4-year bachelor’s degree program, the maximum period you can receive subsidized loans is 6 years (150% of 4 years = 6 years). The period used will be reduced for less than full-time study.

Once you have received Direct Subsidized Loans for your maximum eligibility period, you may continue to receive Direct Unsubsidized loans and your subsidized loans may begin accruing interest, including any portion of a Direct Consolidation Loan that was used to pay off a Direct Subsidized Loan. Congress wants to encourage students to obtain a degree within a reasonable time frame. We recommend you contact your advisor to help ensure you are enrolling in classes required to complete your degree and avoid excess withdrawals or retaking of coursework. Resources like your campus tutoring center can help you meet your goals. View more information on Direct Subsidized Loan Limits (PDF), or contact the Office of Financial Aid.