New Admitted First-Year Students

  

Apply for Aid

You have already taken a huge step in your college search process by applying to NJIT. And, you'll soon discover the value of an NJIT education - New Jersey's premier science and technology university. We are committed to helping students make an NJIT education a reality. About 92 percent of our students receive financial assistance, and we awarded over $100 million in need-based, merit-based financial aid and student employment.

You will find the steps below to access your electronic 2023-2024 Award Offer and other materials to guide you in the financial aid process. We encourage you to accept your awards within two weeks. In addition, a Financial Aid Newsletter was prepared to explain the details and critical deadlines. We also have extensive information for every aid program in the 2023-2024 NJIT Student Financial Aid Services Policies and Procedures document. It is very important to read the entire document as eligibility requirements for all aid programs are explained in detail.

Accepting your awards is very easy. Just follow these steps:

  1. Claim your UCID at: http://ist.njit.edu/accounts/ucid.php (If not already done so).
  2. Go to my.njit.edu.
  3. Enter UCID & password.
  4. Click on Discover More.
  5. In the Financial Aid Account Card, click on "Financial Aid Dashboard".
  6. Select "2023-2024" Aid Year from the drop-down.
  7. Go to Award Offer tab.
  8. Under 'Loans' section, review and accept or decline your awards.
  9. Click 'Submit'.

Also, NJIT is delighted to provide a new price calculator as a guide to assist in early financial planning. To get started with the Tuition Price Calculator go to: https://njit.studentaidcalculator.com

Albert Dorman Honor's College  |  Resources  |  2022-2023 Student Handbook 

If you have any questions as you plan your NJIT education, do not hesitate to call us at 973-596-3479 or via email at finaid@njit.edu. We look forward to seeing you on campus.

College Financing Plan Glossary

Cost of Attendance (COA): The total amount (not including grants and scholarships) that it will cost you to go to school during the 2023–2024 school year. COA includes tuition and fees; housing and meals; and allowances for books, supplies, transportation, loan fees, and dependent care. It also includes miscellaneous and personal expenses, such as an allowance for the rental or purchase of a personal computer; costs related to a disability; and reasonable costs for eligible study-abroad programs. For students attending less than half-time, the COA includes tuition and fees; an allowance for books, supplies, and transportation; and dependent care expenses.

Expected Family Contribution: A number used by your school to calculate the amount of federal student aid you are eligible to receive. It is based on the financial information provided in your Free Application for Federal Student Aid (FAFSA). It is not the amount of money your family will have to pay for college, nor is it the amount of federal student aid you will receive.

Federal Work-Study: A federal student aid program that provides part-time employment while the student is enrolled in school to help pay his or her education expenses. Students must seek out and apply for work-study jobs at his or her school. Students will be paid directly for the hours he or she works and the amount he or she earns cannot exceed the total amount awarded by the school for the award year. Availability of work-study jobs varies by school.

Grants and Scholarships: Student aid funds that do not have to be repaid. Grants are need-based, while scholarships are usually merit-based. Occasionally you might have to pay back part or all of a grant if, for example, you withdraw from school before finishing a semester.

Loans: Borrowed money that must be repaid with interest. Loans from the federal government typically have a lower interest rate than loans from private lenders. Federal loans, listed from most advantageous to least advantageous, are called Direct Subsidized Loans, Direct Unsubsidized Loans, and Parent PLUS Loans. You can get more information about federal loans at https://studentaid.gov/understand-aid/types/loans.

Direct Subsidized Loan: Loans that The U.S. Department of Education pays the interest on while you’re in school at least half-time, for the first six months after you leave school (referred to as a grace period*), and during a period of deferment (a postponement of loan payments).

Direct Unsubsidized Loan: Loans that the borrower is responsible for paying the interest on during all periods. If you choose not to pay the interest while you are in school and during grace periods and deferment or forbearance periods, your interest will accrue (accumulate) and be capitalized (that is, your interest will be added to the principal amount of your loan).

Parent Plus Loan: A loan available to the parents of dependent undergraduate students for which the borrower is fully responsible for paying the interest regardless of the loan status.

Private Loan: A nonfederal loan made by a lender such as a bank, credit union, state agency, or school.

Net Cost: An estimate of the actual cost that a student and his or her family need to pay in a given year to cover education expenses for the student to attend a particular school. Net price is determined by taking the institution’s cost of attendance and subtracting any grants and scholarships for which the student may be eligible.

For more information visit https://studentaid.gov.