Federal Financial Assistance

Any student interested in applying for federal financial aid must complete the Free Application for Federal Student Aid (FAFSA). The school may provide the student with information and estimates on federal, state, or other financial aid the student may apply and qualify for. However, it is the federal, state, and other authorities, and not the school, that determine the student’s eligibility and amounts of financial aid the student is entitled to receive. It is the student’s responsibility (not NYIM’s), to apply for any federal, state or other student financial aid by the required deadline dates.

A student is eligible to receive financial aid as long as he/she maintains good academic standing. Financial aid will not be disbursed to any student who is not maintaining satisfactory academic progress. The Education Department (who will also notify the Financial Aid Department) will notify a student failing to meet their academic progress. Regulations also mandate certain refund policies be followed in the case of a student withdrawl, termination or failure to meet satisfactory academic progress. NYIM is designated as an eligible institution by the U.S. Department of Education for participation in the Title IV funding programs reviewed on this site.

Federal Aid is awarded based on a computation of student "need". Need is determined as the difference between the total cost of education (tuition, fees, room and board, personal, and transportation expenses) and the total estimated family contribution. The family contribution is determined by the federal government and is based in part on income, family size, assets, and number of students in college.

In order to meet the general requirements for eligibility you must: