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Application Process » First Steps »

First Steps

1. The student completes FAFSA (Free Application for Federal Student Aid) or Renewal FAFSA at www.fafsa.ed.gov and lists IIT's school code 001691.
   
2. U.S. Department of Education sends a Student Aid Report (SAR) to student and school.
   
3. Review your SAR online to verify your Expected Family Contribution (EFC). If an EFC is not generated, you should check the comments listed for discrepancies. Many times it may require a student and/or parent signature. If you or your parents estimated your income, please be sure to update the information once the income taxes are filed. Your SAR will indicate if you are selected for verification. If so, you will be required to submit additional documentation to the Office of Financial Aid.
   
4. Once we receive a valid SAR, the Office of Financial Aid creates a financial aid award. The student is then informed via e-mail that the award can be viewed online on myIIT/Web for Students. Note: new students will receive an award letter by mail.
   
5. The student reviews the financial aid offer. The student must accept or decline all or part of the award in writing or on myIIT/Web for Students.
   
6. The student submits required documents to the Office of Financial Aid. The student can check which documents are required under myIIT/Web for Students.
   
7. If accepting loans, the student and/or parent should complete the loan process:
   
   Stafford Loan Borrowers
   • New borrowers at IIT must complete an Entrance Interview, choose a lender and complete a Master Promissory Note (MPN) online. The borrower will be able to electronically sign their MPN by using their Department of Education PIN number.
   • Continuing borrowers at IIT are not required to complete an additional entrance interview or MPN.
   PLUS Loan Borrowers
   • Parents choose a lender and complete the MPN for PLUS loans. The borrower will be able to electronically sign their MPN by using their Department of Education PIN number.
   Graduate PLUS Borrowers
   • Students choose a lender and complete the MPN for PLUS loans. The borrower will be able to electronically sign their MPN by using their Department of Education PIN number.
   Perkins/Institutional Loan Borrowers
   • At the beginning of each academic year, the student completes an additional promissory note for a Perkins or IIT loan with the Student Loan Office.
8. The Office of Financial Aid credits the student's account with federal loans and grants after the third week of classes. The Bursar's Office will email students if a refund is available.