Stevens strongly encourages all undergraduate and graduate students to apply for financial aid. The Office of Financial Aid is here to guide you through the process of finding all the sources of aid that might be available to you and your family.
It's easier than you think.
While it's true that there are many forms to complete and deadlines to meet, we make the application process more manageable with our simple step-by-step guide to applying for financial aid. These steps will help you apply for Stevens scholarships as well federal and state grants and loans for both undergraduate and graduate programs. If you get stuck, you can always call us or drop by for more assistance.
Step 1: Gather Your Information
Begin by first gathering the information you will need to provide. If you are a U.S. citizen or permanent resident, you should have on hand:
- Your social security number.
- The 2015 federal income tax forms for you and/or your custodial parent.
- W-2 forms and other records of money you or your parents earned in 2015.
- Current bank and mortgage statements, if applicable.
- Records of savings, bonds, stocks, trusts and other investments, if applicable.
- Your non-custodial parent's email address, if applicable.
If you're a graduate student, you do not need to provide your parents' financial information. Your financial aid award will be based on your (and your spouse's, if applicable) financial circumstances alone.
Step 2: Start the Application Process
If you are an incoming freshman, begin the financial aid application process by completing your CSS PROFILE® on the College Board website. By completing this profile, you will be automatically considered for all Stevens undergraduate grants and scholarships for which you are eligible. Remember to designate Stevens Institute of Technology as the recipient of your CSS PROFILE® information by using our CSS school code: 2819.
The deadline to submit your CSS Profile is February 15. (For Early Decision I applicants, the CSS Profile deadline is December 1 and for Early Decision II applicants, the deadline is January 15.)
Only prospective incoming students need to complete this step. If you are a returning student or graduate student, move on to Step 3.
Step 3: Apply for Federal Financial Aid
In order to qualify for federal and state funding, you must complete the Free Application for Federal Student Aid (FAFSA) each year. Starting with the 2017-2018 academic year you may complete the FAFSA as early as October 1st using prior-prior year (PPY) tax information. What is PPY? Click here for a short video.
Remember to designate Stevens Institute of Technology as the recipient of your application by using our federal school code number: 002639. We encourage you to complete the FAFSA as early as possible each year, as some forms of aid are available on a first-come, first-served basis. The FAFSA can be filed as early as October 1. For incoming students, the priority deadline is February 15. For returning students, the priority deadline is April 15.
International students should not complete the FAFSA, as you must be a U.S. citizen or permanent resident to qualify for federal funding. You may find it helpful, however, to look for funding sources in your home country via www.edupass.org.
Step 4: Update Your FAFSA
If you submitted your FAFSA before you (or your parents) filed this past year's taxes, you're required to update your FAFSA with the final numbers from your tax return. You should update your information as soon as possible after you file your taxes.
You can use the IRS Data Retrieval Tool (IRS DRT) to easily import your information from the IRS directly into your FAFSA. Check first to see if your tax return is available and if you are eligible to use the tool, and keep in mind that you usually have to wait a few weeks after filing your taxes before you can use the IRS DRT.
Below is a helpful chart that explains the tax year information used for the corresponding academic year.
Step 5: Review Your Award Letter
After reviewing your completed financial aid application materials, the Office of Financial Aid will send information by mail regarding your financial aid award offer. This offer will include the amounts of federal, state or Stevens aid you have been awarded. Review the information and then contact the Office of Financial Aid if you wish to decline any part of the awards offered.
Remember that federal regulations prohibit "over-awards" (funds received in excess of your calculated financial need). It is your responsibility to notify the Office of Financial Aid of any outside awards you receive, including other scholarships, whether based on academic merit or financial need. The Office of Financial Aid may make changes to your financial aid award based on this information.
Step 6: Consider Additional Financing
Calculate any remaining balance not covered by financial aid by subtracting the funds in your award letter from your cost of attendance. Please do not include any Federal Work-Study awards when calculating your remaining balance, because you receive those funds only after you've worked to earn them over the course of the semester. (They are not applied to your Stevens bill.)
If your financial aid package does not cover the full cost of attending Stevens, you may want to consider private student loans or payment plans to finance the remaining balance. See more information about additional financing options for undergraduates and graduate students that can help you choose the best option for you and your family.
Step 7: Complete the Final Steps
You must complete Entrance Counseling in order to receive any federal loans awarded to you. The Federal Direct Loans Entrance Counseling takes about 30 minutes and can be completed online at www.studentloans.gov.
If you are offered Federal Work-Study funding as a part of your award package, you should visit the Office of Student Employment to fill out additional forms. You'll then need to search and apply for a work-study job. There are many on-campus and off-campus work-study job opportunities for both undergraduate and graduate students. Be aware, too, that Federal Work-Study funds are not credited toward your tuition, but are paid as a regular paycheck that you can use towards your educational and personal expenses.
- October 1:Incoming and returning student applications can file the FAFSA as early as this date.
Incoming students can complete their CSS PROFILE® as early as this date.
- December 1:CSS PROFILE® deadline for Early Decision I incoming students
- January 15: CSS PROFILE® deadline for Early Decision II incoming students
- February 15: FAFSA priority filing deadline for incoming students
- April 15: FAFSA priority filing deadline for returning students
*Click here for NJ (HESAA) financial aid deadline information.