During this time, I understand that you may be asking yourself several questions regarding the financial aid process at IIT. Answers to a few of the most common questions that we have received from families just like yours can be found below. If those responses do not address your specific concerns, please do not hesitate to contact us. We are here to help you and your family in what can be a confusing time.
Q: I received my admission and award letters, and want to enroll at
IIT; what's next?
A: Thank you. Your next step is the submission of your enrollment form and tuition deposit by May 1st to the Office of Undergraduate Admission. The Office of Financial Aid will contact you in June to begin the loan application process. There may be other documentation we need from you, which we would begin requesting in June.
Q: I want to enroll at IIT in the fall and have a good financial aid
award package, which will enable me to attend IIT, but my family is
currently unable to pay the $300 enrollment deposit. Is there an
enrollment deposit fee waiver available?
A: Yes. Please contact your admission counselor at the Office of Undergraduate Admission for more information regarding an enrollment deposit fee waiver.
Q: I have compared award letters from two or more different schools,
and it concerns me that the award amounts and types of funds are
different. What can I do, if anything?
A: Colleges and universities have different awarding policies, and therefore often times produce different award letters. Also, institutions have different resources available to them and package funds along institutional priorities. For example, IIT has various types of institutional loan funds available to offer students, which is very unique in higher education. While we do not attempt to match or bid for students, you are more than welcome to share these award letters with us so that we may better explain our award decisions to you. Sometimes these award letters provide a new perspective for us to consider.
Q: I submitted my FAFSA a week or more ago, but I have not yet
received a financial aid award letter from IIT. What should I do?
A: Please call us immediately at 866.901.1866 (toll-free) or 312.567.7219 to speak with a financial aid counselor if you have not yet received a financial aid award letter.
Q: Are there any additional fees that I need to be aware of at IIT?
A: Yes. An additional student fee is health insurance, which is not included on your award letter, but about which students and their families often inquire. This fee is not mandatory for students who will already be enrolled in a health insurance program when they begin school in August, but they must complete the Student Health Insurance Waiver form. (Many parents have health insurance for their children and therefore will not need to purchase health insurance with IIT.) However, students who are not covered by their parents' health insurance plan(s) must purchase insurance from IIT's provider. Health insurance can be purchased through our Student Health Services for approximately $900 per year.
Q: Are there additional resources to help us meet the expected family
contribution or cost of attendance?
A: IIT offers long-term financing options, which include several payment plans. Some of these resources are not included in your financial aid award, but they are made available to meet the difference between the cost of attendance and the aid awarded.
For additional information about loan options such as private loans, visit our MPNs and Preferred Lenders Web page. In the event that there are additional expenses that cannot be met by a family's current income or savings, they may submit a Special Circumstance Review form (PDF) to the Office of Financial Aid. In addition to this form, you must provide a detailed letter with supplementary documents that would best describe your current financial difficulties. Each family will be reviewed based on their unique circumstances.
I hope that we have answered some of your questions here and we encourage you to contact us for clarification, or with any additional questions that you might have at this time. Our financial aid counselors are available to assist you in any way they can at 866.901.1866 (toll-free), 312.567.7219, or finaid@iit.edu from Monday - Friday, between the hours of 8:30 AM and 5:00 PM (Central Standard Time).
We look forward to working with you; welcome to IIT.
Sincerely,
Gerald P. Doyle
Vice Provost
Undergraduate Admission and Financial Aid
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