SIT students making satisfactory academic progress toward their degree are eligible to receive federal financial aid. Each student’s financial aid award is done individually, and the types and amounts of aid awarded depend upon the student’s estimated cost of attendance and the student’s eligibility for federal student aid.
To apply for financial aid, all continuing students must complete and submit the SIT Continuing Student Financial Aid Form notifying the Financial Aid Office of their enrollment plans during the upcoming year.
In addition, US students and permanent residents must file the Free Application for Federal Student Aid (FAFSA) for the new year to determine eligibility for federal student loans. Students must include SIT’s school code (008860) so that we receive the processed results of the FAFSA.
US Citizens and Permanent Residents
Low-interest federal student loans are available through the Unsubsidized Stafford Loan Program, the Perkins Loan Program, and the Grad PLUS Loan Program. Federal student loan eligibility requires that students not be in default on prior education loans. In addition, Grad PLUS applicants must pass a credit check prior to loan approval. Read more about federal student loan programs and eligibility.
International students who were awarded an SIT scholarship when they were admitted to their program are eligible for a pro-rated amount of that scholarship during their off-campus terms.
If you need additional funds, various private lenders offer education loans to international students with a creditworthy co-signer. You may find more information by going directly to lender websites to learn about their private loan programs.
When your financial aid file is complete (including the processed FAFSA results and any other required documentation), the SIT Financial Aid Office will notify you when your financial aid award has been posted to your WebAdvisor account. Please note, the SIT Financial Aid Office will use your SIT email address for all financial aid communications.
Financial Aid Refunds. Continuing students expecting refunds will have access to their funds starting on the dates below for each semester.
|Summer 2014||June 2-6, 2014|
|Fall 2014||September 5-10, 2014|
|Spring 2015||January 12-16, 2015|
After these dates, processing of aid occurs weekly and students generally have access to funds on Fridays.
If a student is receiving federal financial aid and withdraws before completing greater than 60% of the period of enrollment, the Financial Aid Office will perform a Return of Title IV Funds calculation to determine the amount of federal aid the student did not earn. These requirements are based on federal law and there is no provision for a waiver.
The withdrawal becomes effective on the date the student’s written notification is received by the registrar.
The student will be notified by mail of the unearned amounts returned to the financial aid programs. The student may be responsible for reimbursing SIT Graduate Institute for any funds returned on his/her behalf. Until the student's debt is paid, he or she cannot register for classes in future semesters and/or have his or her official academic transcripts released.
Students must complete an exit interview which outlines rights and responsibilities in repaying their student loan if they have received a Federal Perkin, Federal Direct Unsubsidized Student Loan, or Federal Direct Grad PLUS loan during their attendance at SIT Graduate Institute.
SIT Graduate Institute will report a student's withdrawal (official or unofficial) to the loan servicer and to the National Student Loan Data System. The student may receive further information from his or her student loan servicer regarding repayment of the loan and may be required by the servicer to immediately repay additional unearned amounts due.
Please contact the SIT Financial Aid Office with your questions at firstname.lastname@example.org or 802 258-3281.