The College of Osteopathic Medicine Office of Student Financial Aid understands that attending medical school is a financial investment in your future, and we are here as a resource for you. We encourage you to review our web pages and become familiar with the different types of programs available and the necessary steps to apply for financial aid.
Types of AidMore
Loans are borrowed money that must be repaid with interest. Federal loans, which include non-need-based options, usually offer the best terms. Private loans are available from banks and other financial institutions. They carry variable interest rates, and usually require a co-signer.
Scholarships and grants are financial aid awards that do not have to be repaid. These include need-based grants like the NYITCOM Institutional Needs-Based Grant, as well as private, local, and federally-sponsored scholarships. Contact our Financial Aid office for more information.
The Federal College Work Study Program provides part-time employment to assist eligible enrolled students in paying for educational expenses. It is based on economic need. If you are not eligible for Federal College Work Study, you can also become a student aide. Students who are interested to know if they are eligible for the Work Study program should contact Tanya Patterson-Stanley at firstname.lastname@example.org or 516.686.7415.
NYIT is proud to serve veterans of the U.S. armed forces. In coordination with the Department of Veteran’s Affairs, we offer you and your family an array of programs and educational benefits to help pay for NYIT tuition and assist with living expenses while enrolled at our university.
How to Apply for Financial AidMore
This information is not applicable to international students.
Step 1: Complete the Free Application for Federal Student Aid (FASFA)
You must complete the FAFSA online to qualify for any loans, grants or Federal Work Study. It is very important you choose NYIT College of Osteopathic Medicine (code E00546) during the application process. Without the correct school code we will not receive your results and will be unable to process any grants or loans.
Step 2: Complete the following:
- Title VII Supplemental Data Request form
- Student Loan Entrance Interview. Our school is listed as “NY Coll of Osteo Med @ NYIT”.
- If applying for a grant, you must submit documentation of your parents’ 2015, 2016, and 2017 income and your 2017 income.
- Additional information upon the request of NYITCOM Office of Financial Aid
Step 3: Apply for Federal Direct Unsubsidized Loans
All new students requesting to borrow a federal Direct Unsubsidized Loan to help finance their education MUST complete a Master Promissory Note (MPN) at studentloans.gov. Failure to complete a new MPN will result in a delay of your credit balance. The school will not issue any emergency funds. If you have any questions regarding the loan process, email email@example.com.
Step 4:Apply for Federal Work-Study (if interested)
If you interested in the Federal Work-Study program, please speak with someone in the Office of Financial Aid.
Step 5: Receive your award letter
After receipt of the FAFSA results and other required forms and documentation, we will process your financial aid and send an award letter with your Direct Unsubsidized Loan only. At that point, you’ll be given instructions on how to apply for a Grad PLUS Loan if you wish to borrow one.
Step 6: New students must set up CREDIT BALANCE preferences
Shortly before classes begin, you will receive a bright green envelope containing a instructions on how to select your refund preference with BankMobile (the surplus of financial aid and loans after your tuition charges have been paid).
- In an effort to increase your understanding of personal finance, NYIT offers you resources to provide you with greater financial literacy and assistance in managing your loans.