Financing a Graduate Education
Welcome to the Office of Financial Aid website! The links on our site are meant to provide new and continuing students with information and documents needed to finance their education.
We understand that our students are making a major investment in their graduate education. Our goal is to make the process as simple as possible for you so you can focus on your studies, not your financial aid paperwork.
The Office of Financial Aid is dedicated to assisting students in financing their education and making informed financially responsible decisions. A variety of loans and scholarships are available to help students in achieving their goals. We hope you find the information provided a helpful resource in your quest to receive financial assistance.
If there is anything we can do to assist you in financing your education at the IIT Stuart Graduate School of Business, please do not hesitate to contact our office.
Sincerely,
Office of Financial Aid
ANNOUNCEMENTS
Attention: All Federal Loan Borrowers
To receive federal financial aid all degree seeking or certificate program (approved by the Department of Education) students must be enrolled at least half time, this is 4.5 hours. This means you must be attending all courses simultaneously totaling at least 4.5 hours. If you are taking second-half (10/20 to 12/13) semester courses, your registration will not be complete until the second half semester begins.
Loan disbursements will not be applied until that enrollment period starts and the total enrollment is at least 4.5 hours.
For example, if you are taking a one 3 hour class that started August 21st and one second-half semester course for 1.5 hours starting on October 20th, your funds will not be applied to your student account until October 20th.
Attention: Dual Degree MMF Students
Financial aid awards for dual degree MMF students are based on the $832 pr hour tuition rate until after the add/drop period. After that time we can adjust the rate to reflect the actual tuition charge if additional financial aid is requested. If you are a dual degree MMF student receiving federal financial aid and have questions about your financial aid award please contact our office at 312-906-5180 or at finaid@stuart.iit.edu.
Attention: All Students with Edamerica Student Loans
Due to the current U.S. credit crisis Edamerica has had some funding problems. For this reason Edamerica has been removed from the IIT Dowtown Campus lender list. If you are currently in the process of requesting a new loan from Edamerica please be aware that your loan will delayed.
Please contact the Financial Aid Office if you have any questions (312.906.5180) or email finaid@stuart.iit.edu. You may also want to contact Edamerica directly at 800.337.1009 for further information regarding this situation.
Attention: Students With Full Time Scholarships
Full time scholarships will be applied when registration is complete.
Most scholarships will be applied after the September 6 Add/Drop deadline. This process takes approximately two weeks.
Some scholarships will not be applied until mid-semester. If you are taking second-half (10/20 to 12/13) half semester courses, your registration will not be complete until the second half semester begins. In this case, full time scholarship will be posted to accounts on October 20. This means that an open balance will appear on your account and late fees may also appear. Late fees due to late application of your scholarship will be waived.
Please pay your portion of tuition due. Thank you.
Attention: Bank of America Student Borrowers
Bank of America has recently informed our office that they are no longer processing loans under the following lender codes: 806746, 801871 and 824206. If you are a new or continuing student that uses Bank of America for your Federal Loans you are required to complete a new Master Promissory Note with the new lender code (802176). Please click here to complete a new Master Promissory Note for your Federal Stafford and/or your Federal Graduate Plus Loan. Please be aware that your loan funds can not disburse until a new Master Promissory Note has been completed.
More Announcements:
Click here for the latest news and information from the Office of Financial Aid for all IIT Downtown Campus students. This link will take you to the Record Page for Chicago-Kent College of Law.
