Types of Financial Aid

Scholarships & Grants

Scholarships and grants are types of gift aid that do not have to be repaid. There are two types of aid available: merit-based scholarships and need-based grants.

Scholarships

Most merit-based scholarships are awarded for academics, outstanding athletic performance, artist ability or superior community leadership. Enrolling in NJIT makes you automatically considered for all awards for which you are eligible. Most require that you be a full-time student and maintain a minimum GPA of 3.0.

Scholarship Universe

All admitted NJIT students can apply to scholarships directly through Scholarship Universe, a new online portal that allows you to maximize your scholarship award opportunities.

Grants

Need-based grants are available for students who meet specific criteria for financial need. A FAFSA must be completed each year in order to be considered for and/or receive grants.

Loans

Education-based loans generally make up a large portion of every student’s financial aid package. Federal loans such as Federal Direct, Federal PLUS, Graduate PLUS, and Federal Perkins loans are offered by NJIT in conjunction with the federal government. Other private loans (including NJCLASS, which is issued by the HESAA) are issued by various banks and lenders.

By submitting or renewing the FAFSA, you will be automatically considered for education loans. However, each type of loan has different eligibility requirements, repayment terms, interest rates and maximum amounts.

Learn more about the specifics of each type of loan:

• Federal Direct Loans
• Federal Perkins Loans
• Private Loans
• Federal PLUS Loans
• Graduate PLUS Loans

Military & Veteran Benefits

NJIT continues to be acknowledged as a Military Friendly school because of its commitment and success in helping active duty, reserve, guard, veterans and military spouses continue their education.

There are numerous benefits available for students who qualify.

• Montgomery GI Bill - Active Duty
• Vocational Rehabilitation
• Post 9/11 GI Bill
• Dependents and Survivors
• Montgomery GI Bill - Selected Reserve
• Reserve Educational Assistance Program (REAP)
• Federal Tuition Assistance
• New Jersey National Guard