Financial Aid Services
At NYADI, we believe in helping you find a way to reach your career goals. Our Financial Aid counselors are knowledgeable and will help you apply for financial aid if you are eligible. They will provide you with all the guidance you need to create a financial aid and tuition planning strategy that’s right for you.
To begin, we will work with you one-on-one to complete the FAFSA form (Free Application for Federal Student Aid). This form helps to determine what financial aids options might be available to you. From there, we can help you set up a tuition planning strategy that works for you.
Please contact the Financial Aid Advisor at 718-658-0006 ext. 4030 or via email at firstname.lastname@example.org to get started or if you have any questions about financial aid and funding source. The office can also provide you with all of the forms that you need to complete to apply for financial assistance.
- Eligibility for Federal Student Aid graphic(Result Type: IMG) Graphic that lays out the criteria that determine a student’s eligibility for federal student aid.
- The FAFSA Process graphic—Walks through the process of preparing for, completing, and submitting a FAFSA form. Includes info on what happens after the form is submitted.
- 2021–22 FAFSA on the Web Worksheet—Provides a preview of the questions students and parents may be asked while completing the FAFSA form.
- Simple Steps to Transfer Tax Information Into Your FAFSA® Form graphic—Explains how to use the IRS Data Retrieval Tool to transfer tax information into the FAFSA form.
- https://studentaid.gov/understand-aid/types/grants —Federal grants are money to help pay for college or career school that do not have to be repaid.
- https://studentaid.gov/understand-aid/types/grants/pell#year-roundUnder —certain circumstances, you may be eligible to receive Pell Grant funds in the summer term as well as in the fall and spring (resulting in your receiving 150% of your original award). You might hear this situation referred to as “year-round Pell.
- Federal Student Loans: Basics for Students—Provides students with information on Direct Loans. Includes an overview of eligibility, the application process, and repayment.
- Federal Student Loan Programs —Lists federal student loan programs with loan details and award limits.
- Federal Student Loans: Direct PLUS Loan Basics for Parents—Provides parents with information on Direct PLUS Loans for parents. Includes an overview of eligibility, the application process, and repayment.
- Direct PLUS Loans and Adverse Credit—Answers common questions about how an adverse credit history affects Direct PLUS Loan eligibility.
To apply for financial aid, an applicant is required to complete the Free Application for Federal Student Aid (FAFSA), which is used to determine eligibility for all Title IV programs and for New York State aid through the Tuition Assistance Program. A copy of the FAFSA is available online.
The New York Auto and Diesel Institute is committed to providing educational opportunities for all qualified students regardless of financial need. A variety of financial aid programs makes it possible for even the neediest student to gain a college education. The college participates in Federal and State financial aid programs, including grants, loans, and work-study programs. The amount of money available is based upon the student’s financial need, which is determined by subtracting the amount of the family’s resources available for college expenses from the estimated cost of attending the college. Financial need for all programs is measured by a comprehensive financial statement, the Free Application for Federal Student Aid Form (FAFSA). The college will defer any tuition payments due from a student upon application by the student for a grant for the expected amount. Funds received by the college on behalf of a student will first be applied towards the student’s tuition. After the student’s tuition is paid in full, he/she will receive whatever balance remains.
Financial aid decisions are made for the full academic year on the basis of financial need and the availability of funds. It is important to note that the availability of and eligibility for aid from Federal programs are not guaranteed from one academic year to the next and that students must reapply every year. Also, enrolled students must meet this institution’s academic progress standards to continue qualifying for financial aid awards. All financial aid is awarded on the basis of need, regardless of race, color, religion, sex, sexual orientation, age, national or ethnic origin, handicap, marital, parental, or veteran status.
Students are encouraged to apply for financial aid at least eight weeks before the beginning of the term in order that the funds will be available in the first month. Students will receive their payments within one month of the college’s receipt of the funds.
LAST DAY OF ATTENDANCE
The official last day of attendance for a student who withdraws during the semester shall be the date the student officially notifies the college of their intent to withdraw, determination by the college that student does not intend to return to classes, or the date the student is terminated, whichever comes first. The official last day of attendance for a student who withdraws between semesters or does not return for a subsequent semester, shall be the last day of scheduled classes for the prior semester.
- Have a high school diploma or its equivalent, or complete a high school education in a home school setting approved under state law.
- Non-high school graduates must successfully pass an independently administered Ability-To-Benefit (ATB) entrance examination that is approved by the State Education Department and the Department of Education and be enrolled in an Eligible Career Pathway Program.
- Be enrolled or accepted for enrollment as a regular student in an eligible degree or certificate program.
- Be registered with Selective Service, if you are a male.
Men exempted from the requirement to register include;
- Males currently in the armed services and on active duty (this exception does not apply to members of the Reserve and National Guard who are not on active duty);
- Males who are not yet 18 at the time that they complete their application (an update is not required during the year, even if a student turns 18 after completing the application);
- Males born before 1960;
- Citizens of the Republic of Palau, the Republic of the Marshall Islands, or the Federated States of Micronesia*;
- Non citizens that first entered the U.S. as lawful non-immigrants on a valid visa and remained in the U.S. on the terms of that visa until after they turned 26.
- Have a valid Social Security number unless you are from the Republic of the Marshall Islands, Federated States of Micronesia, or the Republic of Palau.
- Completed a FAFSA and the school must have a current ISIR to start the initial eligibility process.
- Sign certifying statements on the FAFSA stating that:
- you are not in default on a federal student loan;
- do not owe a refund on a federal grant;
- Sign the required statement that you will use federal student aid only for educational purposes.
- Maintain satisfactory academic progress (SAP) while you are attending college or a career school.
- Be enrolled at least halftime to receive assistance from the Direct Loan Program.
- The Pell Grant program does not require half time enrollment, but the student enrollment status does affect the amount of Pell a student may receive. A student may receive Pell for a total of 12 payment periods or 600%. Once the student has reached this limit, no further Pell may be received.
In addition, you must meet one of the following:
- Be a U.S. CITIZEN or U.S. NATIONAL
You are a U.S. citizen if you were born in the United States or certain U.S. territories, if you were born abroad to parents who are U.S. citizens, or if you have obtained citizenship status through naturalization. If you were born in American Samoa or Swains Island, then you are a U.S. national.
- Have a GREEN CARD
You are eligible if you have a Form I-551, I-151, or I-551C, also known as a green card, showing you are a U.S. permanent resident.
- Have an ARRIVAL-DEPARTURE RECORD
You’re Arrival-Departure Record (I-94) from U.S. Citizenship and Immigration Services must show one of the following:
- Asylum Granted
- Cuban-Haitian Entrant (Status Pending)
- Conditional Entrant (valid only if issued before April 1, 1980) – Parolee
- Have BATTERED IMMIGRANT STATUS
You are designated as a “battered immigrant-qualified alien” if you are a victim of abuse by your citizen or permanent resident spouse, or you are the child of a person designated as such under the Violence Against Women Act.
- Have a T-VISA
You are eligible if you have a T-visa or a parent with a T-1 visa.
Federal Pell Grant:
This grant program is designed to assist needy students who desire to continue their education beyond high school. Every student is entitled to apply for a Federal Pell Grant. Eligibility is determined by the student’s need, the cost of attendance, and the amount of money appropriated by Congress to fund the program. The amount of the grant is determined by a standard formula used by the U.S. Department of Education. The maximum award for the 2021/22 academic year is $6,495. There is a 600% lifetime limit on Pell grant program funds.
Federal Supplemental Educational Opportunity Grant (FSEOG):
This grant is available to students with exceptional financial need. In determining student eligibility, the college will base the selection on procedures designed to make Federal SEOG awards to those students with the lowest Expected Family Contribution (EFC) who will also receive a Federal Pell Grant in that year. The amount of the grant and the number of students who may receive it depend on the availability of funds from the U.S. Department of Education.
Federal College Work Study (FCWS):
The Federal Work-Study program provides part-time employment on campus or off campus (community service) to a student who needs supplemental earnings to defray the cost of attendance. Eligibility is based on financial need and the availability of funds. As funds are limited, the applicant must first apply, be interviewed and hired into a position and apply the terms of part-time employment. Application may be made through the Financial Aid Office. Salary would be paid at the minimum wage and students can work up to twenty hours weekly.
Federal Direct Student Loan Program:
There are two types of direct loans. Subsidized direct loans are based on demonstrated financial need and the federal government pays the interest while the student is in school. Non-need-based direct loans are “Unsubsidized” and the student is responsible for the interest during in-school and deferment periods. Students may be eligible for both need-based and non-need-based loans but the combined totals may not exceed direct limits.
The repayment period on Direct Student loans begins six months after the student is no longer enrolled at least half-time. Interest accurse during those six months and is payable by the student. For each academic year, a dependent undergraduate may borrow a maximum of $5,500 ($3,500 Sub and $2,000 Unsub) as a first-time student and a maximum of $6,500 ($4,500 Sub and $2,000 Unsub). There is an aggregate loan limit of $31,000 of which $23,000 may be subsidized. If a parent is turned down for the PLUS loan the student may borrow $57,500 of which $23,000 may be subsidized. For each academic year an independent undergraduate student may borrow up to $9,500 ($3,500 Sub and $6,000 Unsub) as a first year student; and up to $10,500 ($4,500 Sub and $6,000 Unsub) as a second year student.
The loan fee for a Direct Subsidized loan and for a Direct Unsubsidized loan is 1.057 for loans when the first disbursement is made on or after October 1, 2020 and before October 1, 2021. In order to apply for and receive funds, you must be registered for a minimum of six credits. The federal Direct Loan Program offers four repayment plans. Every student who borrows a loan must receive entrance and exit counseling. During each counseling session the student will receive detailed information about the repayment plans.
Federal Parent Loans for Undergraduate Students (PLUS):
Parents may borrow an amount up to the cost of attendance less any financial aid each year for each financially dependent student. The loan fee for a Direct Plus loan is 4.292%. Repayment begins 60 days after the last disbursement. When the parent responds requesting the loan, an application/promissory note will be sent to the parent. This must be completed and signed by the student’s parents and returned to the Financial Aid Office. A credit check will be done by the lender. Upon approval the funds will be credited to the student’s account, and any excess will be refunded to the parent. A parent may apply for a Plus Loan without filing a FAFSA. However, it is strongly recommended that the FAFSA be filed in order to take advantage of receiving the lower interest rate Stafford Loan.
Tuition Assistance Program (TAP):
Residents of New York State who enroll in a full-time program may apply for awards up to $4,000 per academic year. Awards may not exceed cost of tuition and are subject to State funding and award level. To apply for TAP students must complete the FAFSA and the New York State TAP application. To remain eligible for TAP awards students must meet program pursuit and academic standards.
Program pursuit: completing and receiving a grade in a percentage of the minimum full-time course load in each term an award is received.
- 50 percent in each term of first year
- 75 percent in each term of second year
- 100 percent in each term of third year and thereafter
Selected programs of study at NYADI are approved by the New York State Approving Agency for enrollment of those eligible to receive benefits under Title 38 USC. Many programs of educational assistance benefits are available to those who have served in the active military, naval, or air service and to their dependents. NYADI is fully approved to conduct college level education programs for veterans.
Detailed information is available from offices of the Department of Veterans Affairs.
Additional Requirements for Students Utilizing VA Funding
- A DD214 and a Certificate of Eligibility are required for all students using VA benefits. Effective date of August 1, 2019 our facility is in compliance with the requirements of Title 38 USC. NOTE: A Covered Individual is any individual who is entitled to educational assistance under chapter 31, Vocational Rehabilitation and Employment, or chapter 33, Post-9/11 GI Bill® benefits.
The NYADI policy permits any covered individual to attend or participate in the course of education during the period beginning on the date on which the individual provides to the educational institution a certificate of eligibility for entitlement to educational assistance under chapter 31 or 33 (a “certificate of eligibility” can also include a “Statement of Benefits” obtained from the Department of Veterans Affairs’ (VA) website – eBenefits, or a VAF 28-1905 form for chapter 31 authorization purposes) and ending on the earlier of the following dates:
- The date on which payment from VA is made to the institution.
- 90 days after the date the institution certified tuition and fees following the receipt of the certificate of eligibility.
- The New York Automotive & Diesel Institute policy ensures that our educational institution will not impose any penalty, including the assessment of late fees, the denial of access to classes, libraries, or other institutional facilities, or the requirement that a covered individual borrow additional funds, on any covered individual because of the individual’s inability to meet his or her financial obligations to the institution due to the delayed disbursement of funding from the Department of Veterans Affairs under chapter 31 or 33
Vocational and Educational Services for Individuals with Disabilities ACCES-VR:
Students with disabilities seeking vocational training are encouraged to contact ACCES-VR for information and official forms and procedures. Adult Career and Continuing Education Services-Vocational Rehabilitation, 89 Washington Avenue, Albany, N.Y. 12234 or call 1-800-222-5627, for additional information.
Additional sources of financial assistance:
- Regents Awards for Children of Deceased and Disabled Veterans.
- Regents Awards for Children of Deceased Police Officers, Firefighters and Corrections Officers.
- Regents Awards for Children of Deceased State Corrections Officers and State Civilian Employees of a Correctional Facility.
- New York State Aid to Native Americans.
- Vietnam Veterans Tuition Award Program.
- Contact the Financial Aid office for more information.
Each year at least 30% of financial aid recipients are randomly selected for verification by the U.S. Department of Education. If a student is selected for federal verification, they will be asked to complete a Verification Worksheet and must provide additional information before financial aid can be disbursed to the student account. This documentation may include but is not limited to federal income tax transcript and W-2 forms (student’s, spouse and/or parents/guardians), proof of untaxed income, housing allowances, etc.
A student who is placed on academic probation may apply for a one- time waiver, in order to continue to receive financial aid. Students are permitted one waiver throughout their undergraduate career. In order to apply for a waiver, a student must present documentation of exceptional or extraordinary circumstances which must be approved by the Dean of Academic Affairs.
New York Automotive and Diesel Institute (NYADI) participates in the William D. Ford Federal Direct Loan Program which includes the Direct Subsidized and Direct Unsubsidized Student Loans, and the Direct Parent PLUS Loans. NYADI participates in the Direct Loan Program and provides all students with entrance and exit interviews, copies of master promissory notes and all related materials.
Note: Private loans are non-title IV loans provided by private educational lender expressly for postsecondary educational expenses. NYADI does not recommend any lender nor have a preferred lender list. NYADI does not deny or otherwise impede the borrower’s choice of lender. Any student who desires a private education loan will be given a self-certification form which was developed by ED and the information on how to complete the form. NYADI will not refuse to certify, or delay certification of, any loan based on the borrower’s selection of a particular lender or guaranty agency.