More than 98 percent of Illinois Tech students receive some sort of financial aid. The Office of Financial Aid is dedicated to delivering on our promise to make an Illinois Tech education affordable for you.
STEP 1
Determine Your Total Cost of Attendance and Which Types of Aid You’ll Accept
It is important to consider how much funding you need to attend Illinois Tech. Items to consider include tuition, fees, room and board, books, travel costs, and personal expenses. Once you have determined your cost of attendance, review your awards on the Financial Aid Awards section of your myIIT portal. Decide which (if any) loans and Federal Work-Study offers you’ll be accepting, and decline any aid offers you will not use. Remember: you are not required to accept the full offered value of a loan.
STEP 2
Complete the Necessary Requirements for the Accepted Financial Aid Awards
The Financial Aid Requirements section of your myIIT portal lists all of the documentation required for your aid to disburse to your student account. A summary of requirements based on aid type is listed to the right. For reference, documentation and forms can be emailed to finaid@iit.edu. Awards will be split evenly between the fall and spring semesters.
SCHOLARSHIPS
Illinois Tech automatically accepts scholarships on behalf of our students. Once any scholarships are accepted, they will automatically disburse to your account on the first day of the semester as long as you are enrolled full-time. Bills are not due until two weeks into the semester.
GRANTS
Some grant recipients will be selected for the federal verification process. The verification process entails submitting a few pieces of documentation in order for federal aid to disburse to your account. Students receiving the Illinois Monetary Award Program (MAP) Grant will need to submit Proof of Illinois Residency.
LOANS
Students who accept Federal Stafford Loans will need to complete Entrance Counseling and a Master Promissory Note (MPN) at studentloans.gov. Please note only one MPN is needed, even if you accept both a subsidized and an unsubsidized Stafford Loan. If a parent will be accepting a Parent PLUS Loan, he/she will need to complete an application and sign an MPN at studentloans.gov after June 1.
STEP 3
Make Arrangements to Cover All Remaining Costs
Plan to make a payment for all remaining charges on the first day of class for each semester. Alternatively, you can enroll in a payment plan to spread out your payments throughout the semester. Please note that the Student Accounting Office handles all personal student payments.