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Financial Aid
Financing Your Education at NJCU
New Jersey City University believes that money should not be an obstacle to higher education. Our financial aid programs are designed to help students manage the cost of tuition and to make the pursuit of higher education a reality for those who attend NJCU. Currently 85% of our undergraduate students receive financial aid, with NJCU providing more than 20 million in funding annually. Financial aid eligibility, at the time of application, is based upon calculation of financial need. Once enrolled, funding is contingent upon satisfactory academic progress and maintaining a minimum threshold of enrollment.
Paying for College: Start with the Office of Financial Aid!
y Complete the Free Application for Federal Student Aid (FAFSA) to see if you qualify for state or federal assistance. You may be pleasantly surprised! y Attend NJCU’s financial aid workshops to learn about programs specific to the University. Contact the Financial Aid Office at 201-200-3173 for information on dates and times. Finding money for college can take some work, but it’s worth it!
Types of Aid
NJCU has many options for financing your education from scholarships and grants that do not need to be repaid to loans with affordable repayment options. We can help you find the best financial aid package to fund your education.
Eligibility Based on Enrollment
To be eligible for various forms of financial aid, students must be enrolled in a minimum number of credit hours per semester as follows:
State Aid 12 credits or more
Pell Grant Full award 12 credits or more
3/4 award 9-11 credits
1/2 award 6-8 credits
1/4 award 5 credits or less
Summer Pell Grant ¹/2 - full award 6 credits or more
Federal Direct Loans 6 credits or more
Federal Work Study 6 credits or more
Federal Direct Stafford Loan Program
There are two types of Direct Stafford Loans: subsidized and unsubsidized. You must have a valid FAFSA on file, be enrolled at least halftime in a degree granting program and maintaining satisfactory academic progress to receive Stafford loans. Direct Subsidized Loans: The subsidized loan is need-based, which is determined by the difference between the cost of attendance and your expected family contribution. Students borrowing the subsidized loan do not pay interest on the loan while they are enrolled at least half-time. The U.S. Department of Education pays interest while the borrower is in school and during grace and deferment periods. Direct Unsubsidized Loans: Unsubsidized loans are non-needbased, and students are not required to demonstrate financial need to borrow an unsubsidized loan. Interest is charged during all periods, including while you are in school and during grace and deferment periods. If you choose not to pay the interest during these periods, your interest will accrue and be capitalized (your interest will be added to the principal amount of your loan).
Federal Direct Plus Loan Program
Federal PLUS loans are available to parents of dependent undergraduate students who have a valid FAFSA on file, are enrolled at least half-time, and are maintaining satisfactory academic progress. The parent borrower must not have an adverse credit history. If the parent does not pass the credit check, the parent may still receive a loan if someone agrees to endorse the loan. The endorser promises to repay the loan if the parent fails to do so. The current interest rate is fixed at 7.54% and borrowers are responsible for all interest on the loan. Repayment begins 60 days after the second disbursement on this loan. The maximum amount that may be borrowed is calculated by subtracting other aid from the cost of attendance.
Federal Direct Grad Plus Loans
Graduate and professional degree students are eligible for lowinterest Grad PLUS Loans. A credit check will be performed. Should you choose to complete your application more than 180 days prior to the start of your semester, you may be required to undergo a second credit check. To borrow a Direct PLUS Loan you must be a U.S. citizen or eligible non-citizen, must not be in a default on any federal education loans or owe an overpayment on a federal education grant, must be enrolled in at least 6 credits, and must meet other general eligibility requirements for the federal student aid programs. Repayment begins on the date of the last disbursement of the loan and a current fixed interest rate of 7.54%.
Note: For both Parent and Graduate PLUS loans, forbearance and deferments are available if you qualify. To determine if you do, contact the Federal Student Aid Information Center (FSAIC) 1-800-433-3243. Origination Fee
An amount payable by the borrower and deducted from the principal of a loan prior to disbursement to the borrower. For federally-backed loans, the origination fee is paid to the federal government to offset the cost of the interest subsidy to borrowers. The exact amount will be reported to you on the “Disclosure Statement”.
FINANCIAL AID (CONT.)
Scholarships
NJCU Endowed and Annual Scholarships for Continuing
Students. The University Scholarship Committee annually awards more than 300 scholarships made available by the NJCU Foundation through gifts from friends, corporations, and alumni. These scholarships are awarded to continuing students based on financial need, academic achievement, and/or other merit. For the 2022-2023 academic year, the University Scholarship Committee will consider all continuing students that meet the criteria for a specific award. Awards are announced in August.
Submit an Application for Scholarships
njcu.edu/scholarships
y External y Freshman/Transfer y Graduate y Robert Noyce Scholarships for STEM Teachers in NJ
TIPS
Attend Workshops
Attend NJCU's financial aid workshops to learn about programs specific to the University. Contact the Financial Aid Office at 201-200-3173 for information on dates and times. Finding money for college can take some work, but NJCU’s Financial Aid Counselors are here to help!
Keep Your Eyes And Ears Open For Financial Aid Deadlines
Filing the FAFSA isn’t a one-time thing. Students who want to continue receiving aid throughout their college careers must file the FAFSA every year. Priority deadlines are dependent on the type of aid you receive (i.e. Tuition Aid Grants vs. Loans), so keep your eyes open for emails and text messages from our Financial Aid office, reminding you about important deadlines. You can also check our Financial Aid website at njcu.edu/financialaid for priority deadlines and reminders. NJCU many options for financing your education from scholarships and grants that do not need to be repaid to loans with affordable repayment options. We can help you find the best financial aid package to fund your education. It’s 2:00 a.m. and you have a question about financial aid—what do you do? FATV is the answer! For 24/7 access to financial aid questions and answers, we’ve compiled a library of short videos to explain the most important elements of the funding process. Our video playlists include information for parents, alumni, current undergraduates, graduate students, Spanish speakers, and future undergraduates! Go to njcu.FinancialAidTV.com to view our videos.
When To Consider Private Loans
Private student loans should be considered if the student meets any of the following criteria: y Received the maximum in all other programs y Matriculate student enrolled less than half-time, under 6 credits y Non-matriculated students y Not meeting Satisfactory Academic Progress Once you have completed the loan application from the lender, approved loans will take up to 15 business days or more for processing. Should you choose a private loan to fund educational expenses, please consider the following: y Do not apply for your alternative loan more than 90 days prior to the beginning of the semester for which you are applying. Otherwise, your credit check may run out and the loan will not be valid at the time of disbursement. y Choose one lender that fits your needs best and stick with them! Multiple applications will significantly delay the processing of your loan. y Schedule ALL of the courses you plan to take BEFORE you apply for your loan to assure your loan is certified for the correct amount. Increases may not be possible after the loan is certified. y A separate loan application is required for summer session(s) and for each award year. y Use only valid loan term dates. Invalid loan term dates may delay certification of your loan.
Office Hours
Semester Fall and Spring Summer
(September – May) (June – August) Monday 8:30 a.m. – 7:00 p.m. 8:00 a.m. – 5:15 p.m. Tuesday 8:30 a.m. – 5:00 p.m. 8:00 a.m. – 5:15 p.m. Wednesday 8:30 a.m. – 5:00 p.m. 8:00 a.m. – 5:15 p.m. Thursday 8:30 a.m. – 7:00 p.m. 8:00 a.m. – 5:15 p.m. Friday 8:30 a.m. – 5:00 p.m. 8:30 a.m. – 4:00 p.m. (tentative) Saturday Closed Closed Sunday Closed Closed
Contact Information
Hepburn Hall, Room 215 Phone: 201-200-3173 Fax: 201-200-3181
