Types of Financial Aid

Scholarships & Grants

Scholarships and grants are types of gift aid that do not have to be repaid. There are two types of aid available: merit-based scholarships and need-based grants.

Scholarships

Most merit-based scholarships are awarded for academics, outstanding athletic performance, artist ability or superior community leadership. Enrolling in NJIT makes you automatically considered for all awards for which you are eligible. Most require that you be a full-time student and maintain a minimum GPA of 3.0.

Grants

Need-based grants are available for students who meet specific criteria for financial need. A FAFSA must be completed each year in order to be considered for and/or receive grants.

Loans

Education-based loans generally make up a large portion of every student’s financial aid package. Federal loans such as Federal Direct, Federal PLUS, Graduate PLUS, and Federal Perkins loans are offered by NJIT in conjunction with the federal government. Other private loans (including NJCLASS, which is issued by the HESAA) are issued by various banks and lenders.

By submitting or renewing the FAFSA, you will be automatically considered for education loans. However, each type of loan has different eligibility requirements, repayment terms, interest rates and maximum amounts.

Learn more about the specifics of each type of loan:

• Federal Direct Loans
• Federal Perkins Loans
• Private Loans
• Federal PLUS Loans
• Graduate PLUS Loans

Student Employment

Student Employment assists in financing educational expenses and provides a valuable service to NJIT and local community projects. Positions are regularly  available in academic departments, at special events, with orientations, campus tours and admissions work, as well as supporting faculty. Many jobs can be related to academic pursuits and helpful to future careers. Overall, Student Employment is a great way to help fund your education and gain valuable work experience.

NJIT currently has two student employment programs:

Federal College Work-Study (FCWS)

FCWS provides part-time jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay for education expenses. Eligibility is determined as part of your financial aid package. FCWS earnings aren't counted as income on your FAFSA, so you'll be eligible for more aid in the subsequent year.

To be eligible for FCWS, you must:

• Be a U.S. citizen or permanent resident
• Be enrolled in classes as a degree-seeking student

Have an FCWS allocation as part of your financial aid package

Institutional Work-Study (IWS)

IWS is available for certain on-campus positions for students who do not qualify for FCWS. All students are encouraged to apply for on-campus positions regardless of their FCWS eligibility.

To be eligible for IWS, you must:

• Be accepted into a program as a degree-seeking student
• Be enrolled at least part-time if you are a U.S. citizen or permanent resident—or full-time if you're an international student

To find out if you are eligible for FCWS or IWS, complete a FAFSA. Also be sure to read our work-study policies or search for available jobs.

Military & Veteran Benefits

NJIT continues to be acknowledged as a Military Friendly school because of its commitment and success in helping active duty, reserve, guard, veterans and military spouses continue their education.

There are numerous benefits available for students who qualify.

• Montgomery GI Bill - Active Duty
• Vocational Rehabilitation
• Post 9/11 GI Bill
• Dependents and Survivors
• Montgomery GI Bill - Selected Reserve
• Reserve Educational Assistance Program (REAP)
• Federal Tuition Assistance
• New Jersey National Guard