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Financial Aid FAQs
- I get tuition benefits from my employer, but it doesn't cover all of my tuition charges. Can I apply for financial aid to cover the rest?
Yes, you may apply for other forms of financial aid (usually in the form of student loans) as long as the total of your financial aid resources doesn't exceed your annual cost of attendance. - I plan on using military or veterans benefits for my education expenses. Who should I notify?
Click here to learn more about RIT's participation in the GI Bill's Yellow Ribbon Program. For information on resources for military personnel, please visit our website at http://www.rit.edu/emcs/ptgrad/veterans.php3. If you have questions, please contact RIT's veterans benefits specialist at (585) 475-2229. - Can I apply for scholarships?
Yes and no. You may not apply for RIT-granted scholarships because of the special pricing already given to online Executive MBA students. However, you may certainly pursue outside scholarships. These can be located on free, reputable scholarship search engines (like the ones provided in the Scholarships & Grants section of the RIT financial aid website: http://www.rit.edu/emcs/financialaid/scholarships.html#scholsearches) - I filed my FAFSA weeks ago. Why haven't I heard about my financial aid eligibility?
You do need to be formally admitted before the RIT Financial Aid Office will prepare your financial aid package. If you are admitted and still haven't heard, check your SAR (Student Aid Report) to be sure you released the FAFSA data to RIT's school code. - How much can I borrow in federal student loans?
Graduate Students can borrow a maximum of $20,500/year in Unsubsidized Direct Loan. There is another federal loan program called the Grad PLUS that is an option in addition to the unsubsidized loan. Once your FAFSA is processed, the RIT Financial Aid Office will advise you on your specific eligibility. More information about the annual borrowing limits and terms of federal student loans can be found on our website: http://www.rit.edu/emcs/financialaid/loans.html#fedloans - I was told I'm eligible for student loans? What do I do next? Do I have other paperwork to complete?
The three things needed to secure the federal loan that has been offered to you are:
a. A Signed Award Letter
The RIT Office of Financial Aid will advise you if additional documents are needed.
b. An Entrance Interview
c. A Master Promissory Note
- How can I check the status of my financial aid?
You will find valuable information on the self-service financial aid portal at www.my.rit.edu. After you log in with your RIT computer account and password, click on the "Financial" tab to access your financial aid package. - I accepted my student loans, when do I get the money to pay Embanet? Will I get the loan money before Embanet's bill is due?
RIT will transfer student loan money into your RIT student account each session after the 4-day drop/add period has ended. Your payment for tuition is due to Embanet, not RIT. The due date on the Embanet invoice could be before the loan funds have transferred into your student account. - How do I get my loan money out of my RIT student account to pay Embanet?
RIT billing services does not automatically pay your Embanet invoice. We would suggest signing up for Direct Deposit through RIT's e-services on the Student Financial Services billing website: https://eservices.rit.edu/eServices/login.do. Then once the student loans are transferred into your RIT account, funds are automatically deposited into your own checking/savings account. Once you've entered the site, click on the Direct Deposit Form to initiate the request. Then, when student loan funds are deposited into your RIT student account in the future, the funds will be transferred into the bank account you've designated and you can pay your invoice to Embanet directly. If you have questions about that option, please contact Student Financial Services at 585-475-6186 or e-mail asksfs@rit.edu. - Do I have to do any additional paperwork if I would like to borrow a graduate PLUS loan?
Unlike unsubsidized direct loans, the graduate PLUS requires that you first go though a credit approval process. You can complete a graduate PLUS loan application on our website: http://www.rit.edu/emcs/financialaid/loans.html. There is also a separate Entrance Interview and MPN for the PLUS that is different than the Unsubsidized Direct loans, but both can be accessed from the same websites links in question 6. - Do I have to re-apply for financial aid at any point?
The financial aid year begins in July (beginning of the Summer quarter) and ends with June (end of the Spring quarter). So if your academic studies extend past the Spring quarter, you will need to reapply for the subsequent year's FAFSA. - I have been in repayment on previously borrowed student loans. Can I go into deferment?
To manage prior federal loans, go to the federal loan website at http://www.direct.ed.gov/. They have helpful tools to manage your loans no matter where you are in the borrowing process. If you need to provide enrollment verification, you may do that on the RIT Registrar's self-service web page at https://registrarapps.rit.edu/clearinghouse/. - If you have any questions, please contact Melissa Russell at the Rochester Institute of Technology Office of Financial Aid & Scholarships at (585) 475-2186, or by e-mail at mkesfa@rit.edu.
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