To be eligible for financial aid you must be matriculated into a degree program, be enrolled for at least six credit hours each semester for federal aid programs and twelve credit hours each semester for the NYS Tuition Assistance Program (courses you have previously passed and are now repeating cannot be counted toward the required twelve hours), and be making satisfactory academic progress. Please note: only courses required for your degree program are considered in determining your enrollment status as it relates to financial aid eligibility. Student aid cannot be awarded for classes that do not count toward your degree.
In order for the SUNYIT Financial Aid Office to process aid for a student, the following steps must be completed:
- Obtain a Personal Identification Number (PIN) from the U.S. Department of Education. If you do not already have a PIN, you can request one online at www.pin.ed.gov. Dependent students should also have a parent register for a PIN to be used as signatures when the FAFSA on the Web is submitted. If you have misplaced your original PIN, you can visit the same website for a replacement.
- Complete and submit a Free Application for Federal Student Aid (FAFSA). You can do this on the Internet at www.fafsa.gov. Important: SUNYIT receives a limited amount of funding for the campus-based programs. When that money is gone, there are no more awards from that program for that year (i.e, Perkins, Work Study, SEOG, Nursing Loans). Students are encouraged to complete the FAFSA as soon after January 1 as possible. To ensure timely financial aid processing, students are also encouraged to submit the FAFSA using estimated adjusted gross income and income tax paid. However, upon completion and receipt of official federal tax return(s), the FAFSA will need to be updated to show the actual amounts reported to the IRS. Students are encouraged to view a detailed listing of the application procedure at www.sunyit.edu/financial_aid/undergraduate. If you do not have access to the Internet, you can obtain a paper FAFSA and detailed application instructions by calling 1-800-4FEDAID. SUNY Institute of Technology’s Federal Title IV School Code is 011678.
- New York State residents must complete and submit the Tuition Assistance Program (TAP) on the Web application. Once you have submitted the FAFSA online, click on the link “Start Your State Application” on the FAFSA Web confirmation page. You may also access this application at www.tapweb.org/totw/. Be sure SUNYIT’s school code (undergraduate-4975) is listed on the application.
The primary responsibility for meeting educational costs rests with the student and his/her family. Estimating a reasonable family contribution is accomplished by using a needs analysis formula approved by the U.S. Department of Education to review the family’s financial situation.
SUNYIT gives priority in the awarding of financial aid to those students with the greatest net financial need. Net financial need is determined by subtracting the expected family contribution and the estimated Federal Pell Grant and Tuition Assistance Program awards from the student’s estimated cost of attendance. The family contribution, determined from the information on the FAFSA, is made up of the expected parents’ contribution (dependent students only), expected student’s earnings, expected contribution from the student’s assets, and any benefits (veterans, welfare, etc.) that the student may receive.
SUNYIT does not have a deadline for applying for financial aid, but we encourage our students to apply by March 15 each year. Applications are processed on a rolling basis starting in late February. Campus-based financial aid will be awarded until the funds are exhausted. It is important to note that these funds are limited and no guarantee can be made that they will be offered to all students.
A financial aid award letter will be sent to each student who has been accepted and has submitted all required financial aid documents.
The federal government chooses some applications to be verified. In those cases, the Financial Aid Office will request additional documents including a verification worksheet and signed copies of federal tax return transcript and W2 forms. These documents must be reviewed and necessary corrections made before financial aid is awarded.
If there has been a significant decrease in the student’s (if independent) or parents’ (if dependent) income from the prior year, a Special Condition form may be submitted to the Financial Aid Office along with supporting documentation. The Financial Aid Office may be able to use the current year’s estimated income rather than the prior year’s to determine eligibility for federal aid.
Students receiving financial aid can expect one-half of their award to be credited to their account each semester. Any balance due to the student after charges owed SUNYIT have been satisfied is refunded to the student as the funds arrive on campus. Federal College Work-Study students will be paid on a bi-weekly basis for the work accomplished during the previous pay period and therefore, these funds cannot be credited to the student’s semester bill.