myIIT Portal

    Office of Financial Aid

    Perlstein Hall, 206
    10 W 33rd Street
    Chicago, IL 60616

    Phone: 312.567.7219
    Toll Free: 866.901.1866
    Fax: 312.567.3982
    Email: finaid@iit.edu

    Office Hours:
    M-F 8:30 AM - 5PM

    Counseling Hours:
    12 PM - 3PM daily

    Effect of Less Than Full-Time Enrollment on Financial Aid

    Undergraduate Students

    3/4 Time

    Full-time enrollment for undergraduates is defined 12 credit hours or greater. Students enrolling less than full-time, taking between 7-11 credit hours, are considered enrolled 3/4 time. Please note that students enrolled for 11 credit hours or less will become ineligible for IIT Scholarships for that term. Co-op courses do not count towards enrollment for the purposes receiving of financial aid. In addition, audited courses also do not count towards enrollment for the purposes of receiving financial aid. Effects of enrollment between 7-11 credit hours:

    • IIT scholarships will not disburse to the student account for the term.
    • Federal Pell Grant recipients will have their Federal Pell award reduced according to federal regulations.
    • The IL MAP Grant recipients will have the grant reduced according to the number of credit hours enrolled.
    • The Federal SEOG award is reduced to $500 per semester.
    • The Federal Perkins Loan is reduced to $500 per semester.
    • Finally, the Financial Aid Office will revise the student's budget to reflect the reduction in tuition charged and then revise the student's aid to reflect the reduction in need.


    1/2 Time Enrollment

    Half-time enrollment is defined as enrolling in 6 credit hours. In this situation, the Financial Aid Office will revise the student account by:

    • Adjusting tuition amount on the budget for the reduced amount of tuition paid.
    • Reduce the student's books and supplies allowance to one half of the standard amount for that term.
    • The student's aid is adjusted to reflect the reduced financial aid eligibility.
    • Federal Pell Grant recipients will have their Pell award reduced according to federal regulations. The IL MAP Grant is reduced according to the number of credit hours enrolled.
    • The Federal SEOG is reduced to $500 per semester. The Federal Perkins Loan is reduced to $500 per semester.


    Less than 1/2 Time Enrollment

    Less than 1/2 time enrollment is defined as taking fewer than 6 credit hours. In this situation, the Financial Aid Office will revise the student account by:

    • Adjusting tuition amount on the budget for the reduced amount of tuition paid.
    • Federal Pell Grant recipients will have their Pell award reduced according to federal regulations. The IL MAP Grant is reduced according to the number of credit hours enrolled.
    • The student is ineligible to receive any other federal grants and the student becomes ineligible for federal loans for that term.
    • If the student is enrolled less than half time, the grace period on any student loan (Federal Perkins loan, IIT loans, and Federal Stafford loan) will begin.


    Undergraduates Forced to Full-Time Due to Disability

    Undergraduate students who are registered for 6 or more credits and recognized by the Office of Disability to be unable to enroll full-time for a given semester may receive their institutional scholarships on a pro-rated basis. Institutional scholarships awarded under this policy will be adjusted on a semester by semester basis.

    Effect on Outside Scholarships

    In all of the above categories, the Financial Aid Office also checks to see if a student has an outside scholarship that requires continuous full-time enrollment. If a scholarship organization requires full time enrollment, the Financial Aid Office is required to return the scholarship money for that term to the donor. If this occurs, the student is encouraged to contact the organization directly to review and, possibly, appeal the agency's policy.

    Questions

    Students with questions regarding underloads should discuss their individual circumstances with a Financial Aid Counselor. Contact our office Monday through Friday from 8:30 a.m. to 5 p.m. in at 312.567.7219 or email us at finaid@iit.edu. Our counseling hours are 12:00 p.m. to 3:00 p.m. Monday thru Friday.

    Graduate Students

    Graduate students are eligible for federal aid and continued deferment of existing loans if they are registered in at least 4.5+ credit hours (half-time).

    Students who have special full-time status cost of attendance will be adjusted to reflect actual tuition costs. This adjustment will be made after the add/drop deadline and may result in decreased loan eligibility. Students who are forced-to-full time are identified by their department and reported to the Office of the Registrar. The Office of Financial Aid uses the Registrar's report to approve all students and adjust financial aid accounts accordingly. This status is not updated until after add/drop.

    International students taking less than full-time hours must apply for full-time equivalency with the International Center here to remain in compliance with SEVIS requirements. International students who meet the ICenter's criteria for full-time equivalency are reported as such by the ICenter and do not have their actual student time status adjusted on their academic record.

    Graduate Students registered for less than 4.5 credit hours are only eligible for private loans up to the cost of tuition and fees. Co-op courses do not count towards enrollment for the purposes receiving of financial aid. Graduate students taking less than half-time hours can file for a forbearance to extend their deferment with their loan servicer. Loan servicer information can be found on www.nslds.ed.gov.

    Last modified: 04/28/2014 13:06:28

    © Illinois Institute of Technology - Office of Financial Aid   312.567.7219   866.901.1866
    3300 South Federal Street, Room 104, Chicago, IL 60616   Emergency Information