Financial Aid

William D. Ford Federal Direct Loans

NJIT administers these need-based and non-need-based student loans on behalf of the U.S. Department of Education. If the William D. Ford Federal Direct Stafford Loan (Subsidized or Unsubsidized) has been offered to you, it will appear in your Financial Aid Financing Plan Offer. You can accept or reject these loans or accept a partial loan amount.

To be eligible for a loan of this type, you must be enrolled at least half-time (a minimum of 6 credits). The awarded loan amount is applied to your account each semester. The interest rate and fees for loans may be subject to change annually on or before July 1. For the most current interest rates and loan fees for the applicable aid year, please see Interest Rates.

Federal Direct Student Loans 2025-2026 Interest Rates (For Loans First Disbursed on or After July 1, 2025 and Prior to July 1, 2026)
Loan Type	Borrower Type	Index	Add-On	Fixed Interest Rate
Loan Type	Borrower Type	10-Year Treasury Note	Add-On	Fixed Interest Rate
Direct Subsidized Loans	Undergraduate Students	4.342%	2.05%	6.39%
Direct Unsubsidized Loans	Undergraduate Students	4.342%	2.05%	6.39%
Direct Unsubsidized Loans	Graduate/Professional Students	4.342%	3.60%	7.94%
Direct PLUS Loans	Parents of Dependent Undergraduate Students and Graduate/Professional Students	4.342%	4.60%	8.94%

Origination Fees for 2025-2026
For any loan disbursement for a loan where the first disbursement	Direct Subsidized Loans Direct Unsubsidized Loans	Direct PLUS Loans
On or after October 1, 2024 and before October 1, 2025	1.057%	4.228%
On or after October 1, 2025 and before October 1, 2026	1.057%	4.228%

Annual and Aggregate Federal Direct Loan Limits

Year	Dependent Students (except students whose parents are unable to obtain PLUS Loans)	Independent Students (and dependent undergraduate students whose parents are unable to obtain PLUS Loans)
First-Year Undergraduate Annual loan Limit	$5,500 – No more than $3,500 of this amount may be in subsidized loans.	$9,500 – No more than $3,500 of this amount may be in subsidized loans.
Second-Year Undergraduate Annual loan Limit	$6,500 – No more than $4,500 of this amount may be in subsidized loans.	$10,500 – No more than $4,500 of this amount may be in subsidized loans.
Third-Year and Beyond Undergraduate Annual loan Limit	$7,500 – No more than $5,500 of this amount may be in subsidized loans.	$12,500 – No more than $5,500 of this amount may be in subsidized loans.
Graduate or Professional Students Annual Loan Limit	Not Applicable (all graduate and professional students are considered independent).	$20,500 (unsubsidized only)
Subsidized and Unsubsidized Aggregate Loan limit	$31,000 – No more than $23,000 of this amount may be in subsidized loans.	$57,500 for undergraduates – No more than $23,000 of this amount may be in subsidized loans. $138,500 for graduate or professional students – No more than $65,500 of this amount may be in subsidized loans. The graduate aggregate limit includes all federal loans received for undergraduate study.

Financial Aid Financing Plan Offer

SFAS electronically receives the processed FAFSA (if NJIT is listed as a college choice on the FAFSA). SFAS designs an estimated Financial Aid Financing Plan Offer that details the various types of aid for which you are eligible (based on the information you provided on your FAFSA) and informs you of the details in the Financial Aid Financing Plan Offer. The Financial Aid Financing Plan Offer and all subsequent notifications are sent to your UCID email account. Similarly, if any changes to your financial aid awards occur, or if SFAS requires additional information, you will be notified through your UCID email account. To ensure that your financial aid disburses as scheduled at the start of the semester, you must submit any requested documentation needed to confirm your financial aid eligibility to SFAS by April 15 prior to the start of the academic year. Once you review your Financial Aid Offer, you can accept or decline any part of your aid package by logging on to the Highlander Pipeline and accessing your NJIT financial aid records as instructed. (you must create your UCID before you can log on to the Highlander Pipeline.) Accepting your awards online is an easy process; students should follow the steps below:

Set up your UCID (If not already done so).

Go to Highlander Pipline

Enter UCID & password.

Click on Discover More.

In the Financial Aid Account Card, click on "Financial Aid Dashboard".

Select applicable Aid Year from the drop-down.

Go to Award Offer tab.

Under 'Loans' section, review and accept or decline your awards.

Click 'Submit'.

Student Aid Index (SAI): SAI is an eligibility index number that the financial aid office uses to determine how much federal aid student is eligible to receive. This number results from the information that students provide on the FAFSA® form. The SAI is not the amount of money a family will have to pay for college or the amount of federal student aid the student will receive. A negative SAI indicates the student has a higher financial need. Learn how the SAI is calculated. NJIT will determine your financial need by subtracting your SAI from the cost of attendance.

Financial Need: Refers to the Cost of Attendance (COA) minus the Student Aid Index (SAI). Demonstrated Financial Need (COA - SAI = Need) determines your eligibility for need-based financial assistance.

How Is Aid Calculated

The Financial Aid Financing Plan Offers aid according to financial need, merit or both. If you are eligible for financial assistance based on your financial need, you may receive a combination of gift aid (grants or scholarships that need not be repaid) and self-help aid (loans, which must be repaid) or part-time employment either on or off campus). Any combination of awards is referred to as your Financial Aid Financing Plan Offer. Once your Financial Aid Financing Plan Offer has been generated, you can access it via a secured link provided in the email you will receive. Eligibility for many of NJIT scholarships is not based on financial need; you are automatically considered for merit based (NJIT) scholarships at the time of admission. Your admission application, test scores and high school grade point average (GPA) are the main factors used to determine your eligibility for NJIT scholarships. However, there are some scholarships that also require that you demonstrate financial need. Note: Upperclassmen are also considered for NJIT scholarships but must have a FAFSA on file for the academic year to be considered. Eligibility for federal and state grants, as well as some NJIT scholarships, is based on the information on your FAFSA and the general eligibility requirements of each program. Gift aid is always awarded before self-help aid. If you have remaining eligibility after gift aid has been awarded, your Financial Aid Financing Plan Offer may also include work study and student loans. Please note that when a combination of tuition-based grants and scholarships exceeds student bill charges or the charges the award is intended to pay for, the university may reduce the scholarship amount.

Financial Aid Financing Plan Offer Revisions

Your Financial Aid Financing Plan Offer may require revisions, often due to additional information, changes in enrollment status, failure to maintain academic progress, withdrawal from classes or outside aid received. Any revised offer overrides all previous aid offers. This sometimes means that you may have to repay funds already received.

Income Adjustment Appeal

Although the formula to determine financial aid eligibility is standard for all applicants, there is some flexibility in recalculating eligibility in light of special circumstances. For example, if you or your family has experienced an income reduction due to unemployment, disability, divorce or death, you can have your financial aid eligibility recalculated using updated information. Other special circumstances include loss of non-taxable income (e.g., child support, social security benefits, etc.). In all cases, special circumstances must be fully documented with a detailed, signed and dated statement, federal tax returns, death certificates, court documentation or letters from appropriate agencies, individuals or employers. If there are other circumstances that affect the amount you and your family are expected to contribute toward your education, please contact SFAS; however, keep in mind that the reasons must be sound and that you will have to provide adequate proof to support any adjustments.

Each financial aid program has specific requirements regarding enrollment status. In general, Student Financial Aid Services (SFAS) uses the following enrollment criteria:

Credits	Enrollment Status Classification
12+	Full time
9-11	Three-quarter time
6-9	Half-time
1–5	Less than half-time

Some academic programs use different enrollment status criteria; contact SFAS to learn more.

In general, financial aid packages are based on full-time enrollment. If your financial aid eligibility is based on three-quarter-time, half-time, or less than half-time enrollment, a notation will be made on your award notification. Tuition scholarship awards may be reduced in such cases, as may certain other financial aid awards related to the cost of attendance.

Your enrollment status on the 15th day of each semester determines your enrollment status for financial aid eligibility. During the summer session, your enrollment status on the second day of the summer term determines your enrollment status for financial aid.

It's important that you consult with SFAS if you plan to withdraw from any courses.

Cross-Registration/Enrollment at Other Institutions
If you're an NJIT student who cross-registers at Essex County College, Rutgers University–Newark, University of Medicine and Dentistry of New Jersey, or Burlington County College, you must fill out the proper forms (available online and at the NJIT registrar's office). Otherwise, the courses will not reflect on your academic transcript and therefore will not be factors in your financial aid eligibility.

Please note that you cannot receive financial aid at both institutions for the same courses. You must declare which institution will be considered the home school for financial aid–eligibility purposes.

If you're approved to study abroad or to attend another institution to take part or all of your educational requirements during a semester, you may receive financial aid for that term if approved in advance and if a consortium and/or contractual agreement is executed between NJIT and the other institution. For more information, please contact Student Financial Aid Services.

Financial Aid Disbursements
Students must submit all required verification documents within two weeks of the date requested. Aid will be disbursed after the verification is complete.

First-time Federal Direct loan borrowers must complete a Master Promissory Note (MPN) and Entrance Counseling before loans can be disbursed. Both documents can be completed here.

The U.S. Department of Education requires institutions to verify that students are in attendance at an academically-related activity prior to disbursing aid (Academic Engagement). In addition, we must also confirm student’s enrollment status and cost of attendance for the academic year or term before disbursing aid.

Annual financial aid awards are generally disbursed in two payments during the fall and spring semesters. Outstanding balances from tuition and fees, housing and food and other direct charges are paid with financial aid. Bursar office issues refunds (if applicable) to students by direct deposit or check.

Financial Aid Adjustments
Any of the following situations would change a student’s financial aid eligibility prior to or after aid has already been disbursed.

Additional Aid Received
Total aid received cannot exceed the cost of attendance for the academic year or semester. Late arriving aid like an external scholarship may create an over award. In such cases, total aid will be reduced so that there is not an over award or the student is not exceeding the need.

Attendance Verification
The U.S. Department of Education requires institutions to verify that students are in attendance at an academically-related activity prior to disbursing aid (A cademic Engagement). Aid will be reduced/adjusted for students who are not attending a class for which they are registered.

Enrollment
We initially award financial aid assuming full-time enrollment (12 or more credits for undergraduates; nine or more for graduates). Adding or dropping courses during the add/drop period can change your enrollment status affecting aid eligibility. If certain enrollment requirements are not met, financial aid may be adjusted or cancelled. Please see enrollment requirements below:

Federal Pell Grant is prorated for three-quarter time, half-time and less-than-halftime status
Scholarships (NJIT and external) generally require full-time enrollment
NJ State Aid such as Tuition Aid Grant (TAG) requires full-time enrollment (12+ credits)
Federal Direct Loan borrowers must be enrolled at least half-time (six or more credits for undergraduates; 4.5 or more for graduates)
Aid is also adjusted if a student is enrolled in courses that are not part of their program of study. For example, an undergraduate student taking graduate level courses. In this scenario, credits for graduate level courses will be excluded from total credits to calculate enrollment for aid purposes

Housing Status Changes
Changes to housing status impact annual or semester cost of attendance which may impact award amounts. Federal Supplemental Educational Opportunity (FSEOG) and Educational Opportunity Fund (EOF) grants are adjusted based on the housing status.

Late Starting Courses
Federal and State Aid disbursements for students whose award is based on half-time or full-time enrollment in one or more late starting courses will be delayed until the student starts attending the late start course. If a course(s) is dropped before disbursement, awards will be reduced or canceled accordingly.

Repeat Coursework
Federal financial aid regulations allow students to receive financial aid for retaking (repeating) a previously passed course, one time only. For financial aid purposes, a “D” grade is considered passing.

Because a previously passed course can only be repeated once for financial aid purposes, if a student retakes a previously passed course, it will be included in the enrollment status and would be eligible for financial aid. However, if the student enrolls in the same course again for a second retake, this course will not be counted towards student’s enrollment status and would not be eligible for financial aid. Awards will be adjusted to reflect adjusted enrollment.

Scholarship Adjustments
When tuition-based grants (like TAG Grants) and NJIT tuition-based scholarships are part of the package, students are limited to receiving these awards up to the cost of tuition. While other NJIT merit scholarships (like Honors scholarship and Freshmen Highlander Scholarships) are restricted to tuition and fees, the combination of other tuition and fee based awards cannot exceed the value of tuition and fees. In these cases, scholarships will be adjusted. For more information, click here.

Verification
The U.S. Department of Education selects some applications for Verification. In this review process, information reported on the FAFSA is verified by having the student and parents submit federal tax returns and other documents. As per federal and state regulations, FAFSA information is corrected as necessary and this may result in changes to the estimated awards for incoming freshmen and transfer students. Continuing students are not awarded until verification is complete. After verification is completed, affected students are notified if their awards are revised. Continuing students will not receive a financial aid award until all requested documents are submitted and verification has been completed.

Withdrawal from Classes
NJIT is required by federal and state regulations to recalculate aid when a student completely withdraws or is dismissed before the end of the term. This includes students who are unofficial withdrawals that is they stop attending their classes and do not earn a single passing grade for the semester.

When you apply for financial aid, your answers to certain questions will determine whether you are required to include parental information on the FAFSA. If you are independent, you report only your income and assets (and your spouse, if you are married). You are an independent student if at least one of the following applies to you:

You are age 24 or older.
You are married.
You are enrolled in a graduate or professional-educational program (beyond bachelor's degree).
You have legal dependents (for whom you supply more than 50 percent support) other than spouse.
You are an orphan or ward of the court (or were a ward of the court until age 18).
You are a veteran of the US Armed Forces. (This includes students who attended a US military academy and were released under a condition other than dishonorable.)

If you think you have unusual circumstances that would make you independent even though none of the above criteria apply to you, contact Student Financial Aid Services. You will be required to document any circumstances leading to independent status.

The U.S. Department of Education rules require NJIT to verify the presence of students in classes prior to the disbursement of financial aid. Students must be present at least once before aid can be disbursed. Click here for the Academic Engagement information.

Eligibility for most financial aid programs is determined on the basis of financial need and on several other factors. Basically, to receive aid from most programs, you must meet the following criteria:

You must demonstrate financial need (not a criterion for some scholarships and some loans)

Student Financial Aid Services (SFAS) constructs yearly cost-of-attendance (COA) budgets that include tuition, fees, housing and food (or living expenses), books, course materials, supplies, & equipment, transportation, and miscellaneous expenses. The COA varies according to enrollment level and state residency. As a financial aid applicant, you and your family have primary responsibility for contributing to the total cost of your education. The information that you and your family report on the FAFSA is used in a formula established by US Congress to determine your Student Aid Index (SAI). SAI is an eligibility index number that the financial aid office uses to determine how much federal aid student is eligible to receive.

Financial aid attempts to fill the gap between your SAI and the yearly COA. The difference between the SAI and the COA is defined as financial need. If you're eligible, you may be awarded financial aid through a combination of grants and scholarships (which you won't have to repay), loans (which you will have to repay), and work-study (part-time employment on or off campus). These combinations of awards are referred to as financial aid packages. Keep in mind that, because of the variation of the COA, financial aid packages will vary as well.

Total aid—including scholarships, grants, federal work-study, loans, and other educational resources (such as tuition remission and veteran's benefits)—cannot exceed the total COA, whether the student aid was administered through SFAS or some other source. In cases where a student receives funds from certain federal student-aid programs, total financial aid may not exceed his or her demonstrated financial need.

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What is the timeframe for submitting the FAFSA?

Students should submit their Free Application for Federal Student Aid (FAFSA) on October 1 but no later than February 15. Late FAFSA submissions can affect eligibility for some financial aid programs.

What documents are needed for my financial aid to be awarded?

For most students, only a completed Free Application for Federal Student Aid (FAFSA) is necessary to receive an award offer. Students are notified via e-mail if Student Financial Aid Services (SFAS) needs additional documentation to process financial aid.

Is there a deadline for submitting requested documents that may be required from me?

We recommend submitting outstanding financial aid requirements as soon as possible or within 14 days of the request. There will be a delay in award processing if documents are received late. Processing can take up to 30 days after submission.

I am a new student, when will I get my award offer?

New/transfer students who submitted a FAFSA and all required documentation will begin to receive award offer notifications around the middle of January/February each year. Students with outstanding documentation requests may receive an unofficial estimated award offer that is subject to change until all requirements are satisfied. For all major deadlines, please visit the deadlines to watch page.

My parent recently lost his/her job; can I qualify for more financial aid?

If a student or family member recently lost a job or experienced financial hardship due to death, divorce, or unexpected medical expenses, they may submit an Appeal for Income Reduction. Requests do not guarantee an increase in aid. You can download the application here.

How do I apply for federal student loans?

Students apply for federal student loans by completing the Free Application for Federal Student Aid (FAFSA) each academic year. Once we receive your FAFSA, we will offer the federal student loans. You will need to accept the loans at http://my.njit.edu.

How do I accept/decline my loans?

Students can accept/decline/reduce any federal loan offered to them through the online award offer. Students can access the award offer through their Highlander Pipeline at http://my.njit.edu.

How do I adjust my loans after accepting/declining the offered loan amounts?

Students can submit a Financial Aid Adjustment form to submit loan adjustment requests.

What is the deadline for accepting my federal loans?

The deadline for accepting federal loans in any given semester is generally about two weeks before the end of that semester. Tuition and fee billing due dates are prior to the due dates to accept loans.

What's the difference between Subsidized and Unsubsidized loans?

The difference between Subsidized and Unsubsidized loans is the accrual of interest. Subsidized loans will NOT accrue interest while the student remains enrolled in school at least half-time (6 or more credit hours for undergraduate students). Interest on Unsubsidized loans will accrue from the date of disbursement. More detailed information about both Subsidized and Unsubsidized loans can be found here.

When does my financial aid disburse?

Financial aid disburses about 14 days into the semester as long as Verification of Presence is received from your professor. If you are selected for verification, you may need to provide additional documentation before your aid can be disbursed. Disbursement can be delayed depending on when SFAS receives the requested documents. Disbursement dates and other important dates and deadlines can be found on the deadlines to watch section of our website. After the initial disbursement of financial aid, additional disbursements occur regularly throughout the semester.

If I enroll part-time, will my financial aid be adjusted?

Pell Grant is adjusted if students enroll part-time. Loans, work-study and NJIT aid may be adjusted if the reduced enrollment also reduces a student’s financial need. Students must enroll at least half time to receive federal student loans and Tuition Aid Grant (TAG) requires students to be enrolled full time.

Can my scholarships be adjusted/reduced?

Yes. Please review Scholarship Policies for awarding and adjustment of scholarships.

Financial Aid Next Steps Checklist

New Admitted students please see the Checklist for your next steps

FAFSA Information

File your FAFSA!

Financial Aid Awards

Grants Information

Loan Information

Scholarship Information

Useful Information

Dates and Deadlines

Financial Aid Newsletter

Frequently Asked Questions

Glossary of Financial Aid Terms

Student Handbook

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Helpful Videos

Navigate Financial Aid Dashboard

Learn how to navigate Financial Aid dashboard and review your awards.

Accept Financial Aid Awards

Learn how to accept your Financial Aid Award on Pipeline.

Create Student Forms Account

Learn how to create your Student Forms Account to submit documents.

Complete Affidavit on Student Forms

Learn how to complete affidavit of student forms.

Federal Loan Adjustment Form

Complete federal student loan adjustment form.

Special Circumstance Appeal

Complete special circumstance appeal.

Financial Aid Package: The total amount of financial aid (federal and nonfederal) a student is offered by a college or career school. The school's financial aid staff combines various forms of aid into a “package” to help meet a student’s education costs.

Financial Need: The difference between the cost of attendance (COA) at a school and your Student Aid Index (SAI). While COA varies from school to school, your SAI does not change based on the school you attend.

Adjusted Gross Income (AGI): Your or your family's wages, salaries, interest, dividends, etc., minus allowable deductions as reported on a federal tax return

Cost of Attendance (COA): The total amount it will cost you to go to school—usually stated as a yearly figure. COA includes tuition and fees; on-campus housing and food (or a housing and food allowance for off-campus students); and allowances for books, course materials, supplies & equipment, transportation, federal loan fees, and dependent care. It also includes personal expenses; 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 and an allowance for books, supplies, transportation, and dependent care expenses, and can also include housing and food for up to three semesters or the equivalent at the institution. But no more than two of those semesters, or the equivalent, may be consecutive. Contact the financial aid administrator at the school you’re planning to attend if you have any unusual expenses that might affect your COA.

Direct Loan: A federal student loan, made through the William D. Ford Federal Direct Loan Program, for which eligible students and parents borrow directly from the U.S. Department of Education at participating schools. Direct Subsidized Loans, Direct Unsubsidized Loans, Direct PLUS Loans and Direct Consolidation Loans are types of Direct Loans.

Direct PLUS Loan: A loan made by the U.S. Department of Education to graduate or professional students and parents of dependent undergraduate students for which the borrower is fully responsible for paying the interest regardless of the loan status.

Disbursement (disburse or disbursed): Payment of the loan funds to the borrower by the school. Students generally receive their federal student loan in two or more disbursements

Federal Pell Grant: A federal grant for undergraduate students with financial need.

Federal Perkins Loan: A federal student loan, made by the recipient's school, for undergraduate and graduate students who demonstrate financial need.

Federal School Code: An identifier that the U.S. Department of Education assigns to each college or career school that participates in the federal student aid programs. In order to send your FAFSA information to a school, you must list the school's Federal School Code on your application. A list of Federal School Codes is available in the FAFSA.

Federal Student Aid ID: FSA ID stands for Federal Student Aid ID. You can use an FSA ID to access personal information or electronically sign on various Department of Education (ED) websites. To apply for one go to FSA ID.

Merit-based: Based on a student's skill or ability. Example: A merit-based scholarship might be awarded based on a student's high grades. The scholarship awards may be reduced if a combination of grants and scholarships exceeds the tuition and tuition-related charges on the student bill.

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

FAFSA Submission Summary (FSS): The FAFSA Submission Summary is a paper or electronic document from the U.S. Department of Education’s office of Federal Student Aid that lists answers to the questions on the student’s FAFSA form and gives basic estimates about the student’s eligibility for federal student aid. It is not a financial aid offer.

If the student provided a valid email address on their FAFSA form, they’ll receive an email with instructions on how to access an online copy of their FAFSA Submission Summary.

The student can view or print their FAFSA Submission Summary by:

Logging in to StudentAid.gov using their FSA ID (account username and password);
Navigating to the account Dashboard;
Selecting their processed FAFSA submission from the “My Activity” page, which will bring them to the Status Center “Details” page; and
Selecting “View FAFSA Submission Summary.”

Verification: The process your school uses to confirm the data reported on your FAFSA. Your school has the authority to contact you for documentation that supports income and other information that you reported.

Tuiton-based scholarship: A scholarship designated to only pay tuition and if another award exists on the package that duplicates this benefit, one of the awards will be reduced.

Income Reduction Appeal: An appeal a family makes requesting for the Financial Aid Office to consider their income losses so that the family’s strength is measured using recent information. The process takes time and requires supporting documentation. Please see a Financial Aid Advisor about this.

Summer Pell: A new regulation was passed that allows pell recipients who have used their regular 100% award in the Fall and Spring to benefit from an additional grant during the summer so long as they are making academic progress and registered for at least 6 credits.

Student Employment: A job opportunity on campus to build a student’s leader skills and resume. The jobs varies as well as the hourly rate. If you receive Federal Work-Study, the earnings from this source is not counted against you on the following FAFSA. However, if you use other sources of work, it will be counted as income on the FAFSA.

Loan grace period: The 6-month period after graduation or when a student falls below half-time enrollment status where the loan is pending. After the 6-month grace period ends, the loan will fall in repayment.

Deferment: The period where the loan payment is deferred and depending on the type of the loan interest may accrue. Deferment is provided when a student remains in school for at least half-time enrollment status.

Loan Default: A status where a loan was not repaid according to the loan terms and conditions. When in default, students may not receive federal aid and must make six consecutive payments to have this status removed.

Forbearance: A status where the loan is temporarily deferred (generally a year) due to financial hardship. The borrower reaches out to the lender/servicer to request this status but keep in mind the interest continue to accrue during this status.

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