Instructions for Federal Loan Borrowing
Accept or decline your financial aid awards online
Log in to the my.NYIT Portal. You may access your Financial Assistance Plan online via the Student Service HUB—Your Home for University Business.
Starting with the 2021–2022 award year, all Federal Direct loan borrowers must complete an Annual Student Loan Acknowledgement (formerly known as Informed Borrowing Confirmation) before Federal Student Loan funds can be disbursed. The purpose of the acknowledgment is for federal loan borrowers to review and understand a summary of federal loan and grant information, cumulative outstanding loan balances, and general information about student loan borrowing. This requirement is in addition to the completion of Entrance Counseling, PLUS Counseling, and a Master Promissory Note. The Annual Student Loan Acknowledgement must be completed online at studentaid.gov each year by student and parent federal loan borrowers.
Federal Direct Stafford Loan
MoreFor new Federal Stafford Loan borrowers only:
- Sign in to studentaid.gov.
- Follow the online instructions to complete the following requirements:
- Stafford Entrance Counseling
- Stafford Master Promissory Note
Federal Direct Parent PLUS Loan
More- Sign in to studentaid.gov.
- Follow the online instructions to complete the following requirements:
- Parent PLUS Application Process (credit check). Click on “Apply for a PLUS Loan.”Continuing borrowers only need to complete this step.
- Complete Parent PLUS Master Promissory Note
- If you are denied for a Parent PLUS Loan, you may be eligible for additional Unsubsidized Stafford Loan funds.
Federal Direct Graduate PLUS Loan
More- Sign in to studentaid.gov.
- Follow the online instructions to complete the following requirements:
- Graduate PLUS Application Process (credit check). Click on “Apply for a PLUS Loan.”Continuing borrowers only need to complete this step.
- Complete Graduate PLUS Entrance Counseling (also applicable for Direct Stafford Loans)
- Complete Graduate PLUS Master Promissory Note
Federal Perkins Loan
More-
Log in to the my.NYIT Portal. Complete the Perkins Master Promissory Note (MPN) and the Perkins Entrance Counseling in the Student Service HUB. New government provisions have a limit to new loans to undergraduates who have remaining need after accounting for all Direct Loan eligibility (both Subsidized and Unsubsidized). No new loans could be made to graduate students, although some current graduate borrowers would be grandfathered. The progress of these federal provisions will be monitored.