www.rit.edu/financialaid

Financial Aid and Scholarships

Take the first step. You’ve decided that you’re looking for the quality, reputation, and responsiveness of a private college or university. How can your family afford this investment in your future?

RIT has a long history of providing educational opportunities to qualified students regardless of their families’ economic circumstances. We offer a comprehensive financial aid program consisting of merit scholarships and a full range of need-based grants, loans, and campus employment programs. More than 75 percent of full-time undergraduate students at RIT received more than $258 million in financial aid this year. Many students and families also take advantage of our monthly payment plan, tuition prepayment plan, and opportunities for students to earn salaries through cooperative education.

Who receives financial aid and scholarships?

Financial aid and scholarships are awarded on the basis of demonstrated financial need and academic merit. Students from all income ranges are offered financial aid and scholarships each year and, as a result, find an RIT education affordable. Families who are least able to meet educational expenses generally qualify for the most assistance through scholarships, grants, work-study programs, and low-interest student loans.

Your financial need

Eligibility for need-based financial aid at RIT begins with two basic requirements: enrollment in a degree program for six or more credits per quarter, and demonstrated financial need.

Financial need is the difference between the cost of your education and the amount that you and your family can afford to pay toward meeting that cost. Your financial need is determined by an analysis of information provided on the Free Application for Federal Student Aid (FAFSA). The FAFSA is available at www.fafsa.gov.

If you are seeking fall admission as a freshman, you should begin the process of applying for aid during the month of January. To receive full consideration, it is important that you file your financial aid application by March 1. Applications received after March 1 will receive consideration as long as funds are available. If you are a transfer student, you should submit your FAFSA by March 15 for priority consideration.

High school seniors applying for admission through RIT’s Early Decision Plan who desire an early estimate of financial aid eligibility should submit an “early version” financial aid application to RIT. Information about applying for aid as an Early Decision applicant is sent as applications are received.

Types of aid

Merit scholarships are awarded in recognition of outstanding academic and extracurricular achievements, regardless of financial need. A number of merit scholarships are awarded through our Presidential Scholarship program for entering freshmen and our Trustees Scholarship program for transfer students. Scholarship recipients are selected on the basis of their excellent academic records, recommendations, and the requirements for their intended academic program.

RIT Achievement Scholarships recognize applicants who have excelled in academic and extracurricular activities and also demonstrated special abilities in areas such as leadership, community service, entrepreneurship, or artistic talent.

All freshman admission applications submitted to RIT by February 1 will be reviewed for merit scholarship consideration. All transfer admission applications for fall term submitted by April 1 are reviewed for merit scholarship consideration. Transfer students entering RIT during other terms should refer to the financial aid and scholarships brochure for scholarship deadlines.

Grants are gifts of financial assistance awarded on the basis of demonstrated financial need. Students may qualify for need-based grants offered by RIT as well as grants from state and federal governments, such as federal Pell Grants and the New York State Tuition Assistance Program (TAP).

Student loans offered through the federal Direct Loan and federal Perkins Loan programs are not repaid until after graduation or termination of study, and interest rates are low.

Employment opportunities also are available to help meet college expenses. More than 5,000 students were employed on campus last year. Full-time salaried employment through RIT’s cooperative education program also can contribute to meeting college expenses.

ROTC programs offer eligible students excellent scholarship opportunities. For additional information on Army ROTC, call 585-475-2881; Air Force ROTC, 585-475-5197; and Navy ROTC, 585-275-4275.

The Office of Financial Aid and Scholarships provides more detailed information to all prospective students. Contact the office at 585-475-2186 (voice), or 585-475-6909 (TTY), or via the Web at www.rit.edu/financialaid with any financial aid questions you may have.

RIT expenses 2011-2012

A typical full-time resident student will have the following 2011-2012 academic year expenses at RIT. We estimate that the typical student also will spend an average of $2,025 a year for books, travel, and personal expenses. Students attending for less than three academic quarters incur one-third of the charges listed during each quarter at RIT.