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

    Summer Term Financial Aid Policy

    Once a student enrolls for summer session, the student is packaged for the summer term. Students will be able to view summer aid via myIIT and will receive notification via email when this summer package is available.

    Undergraduate Students

    Federal Aid Eligibility

    Undergraduate students enrolled in at least 6 credit hours for summer term are eligible to utilize any remaining federal loan eligibility not maximized during the regular academic year. Summer financial aid packages may include the following:

    • Remaining Stafford loan eligibility - Stafford loan eligibility is determined by the year the student is in school and comparing it to the annual loan limits for that year, as outlined by the Department of Education.
    • Summer Parent PLUS Loan - If the student is a dependent student, she/he will receive a Parent PLUS loan offer if Stafford loan eligibility has been exhausted.

    Students enrolled is less than 6 credit hours for summer term are not eligible for federal financial aid.

    Summer Scholarship

    Students enrolled for summer will receive a summer scholarship offer, regardless of enrollment hours. This summer scholarship percentage is calculated by taking the total value of institutional scholarships awarded and dividing by tuition charges during the regular academic year.

    The summer scholarship is calculated by multiplying the summer scholarship percentage toward the summer tuition charges. The summer scholarship will fluctuate on the student account based on enrollment hours.

    ROTC scholarships awarded in the regular academic year are not used to calculate the summer scholarship percentage. For calculation purposes, the Office of Financial Aid will utilize the original institutional scholarship awards offered to the student prior to entry into the ROTC program for summer scholarship calculations.

    Graduate Students

    Graduate students are eligible for additional loan funds for summer assistance, providing they are enrolled at least half-time (3 credit hours for summer).

    Summer financial aid packages may include the following:

    • Remaining Stafford loan eligibility - Stafford loan eligibility is determined by the year the student is in school and comparing it to the annual loan limits for that year, as outlined by the Department of Education. If a student has remaining eligibility, the student will receive summer Stafford loan offers.
    • Summer Graduate PLUS Loan - If the student has exhausted his/her Stafford loans, the student will be offered a Graduate PLUS Loan.

    Students enrolled is less than 3 credit hours for summer term are not eligible for federal financial aid.

     

    Last modified: 04/02/2014 10:28:48

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