Graduate Application for Financial Aid

To apply for financial aid (need-based aid), please follow the directions below.

1. File the Free Application for Federal Student Aid (FAFSA), found online at http://www.fafsa.ed.gov. The FAFSA helps us determine your eligibility for  need-based aid.

2. The FAFSA should be completed between January 2 and our February 1 deadline in order to ensure that you receive your package in time to make a decision. Pratt's FAFSA code is found below.

3. New York State residents may also apply for TAP online. TAP is New York State's Tuition Assistance Program. Pratt's TAP code is found below.

4. The Pratt Summer Financial Aid Application is required for those who wish to attend summer classes and/ or study abroad in the summer.

If you follow these directions, you will receive your award package early enough to enable you to make a fully informed decision. Feel free to call your financial aid counselor if you have any questions about the forms themselves or about your award. Our counselors are eager to help you learn about your eligibility for the wide range of financial aid programs available.

ACCEPTED STUDENTS--ACCESS YOUR FINANCIAL AID PACKAGE

5. Your package will be created as soon as you are accepted to Pratt (for incoming students) and in June for current students. 

New Graduate Students

To be considered for financial assistance, new graduate students must submit the Free Application for Federal Student Aid (FAFSA) to the Department of Education Federal Student Aid Programs (Web site: http://www.fafsa.ed.gov or call 1-800-433-3243). The FAFSA application may be accessed on our website. Do not submit more than one application! The FAFSA should be submitted no later than February 1 if the student wishes to be advised of aid in a timely fashion. A FAFSA filed after February 1 will delay the awarding of financial aid and may jeopardize the student's eligibility for Pratt grants or scholarships.

Students are automatically considered for financial aid after an admissions decision has been made and their FAFSA information has been received by Pratt. If requested and required by the federal government, other documents, such as federal tax returns, are due at the Office of Financial Aid by June 1st. After financial need has been established and adequate funds are available, an aid "package" will be granted. Outside awards that might be forthcoming are taken into consideration when Institute aid is offered. It is the responsibility of the student and/or family to notify the Office of Financial Aid of any outside awards. These outside awards may reduce or change the student's original award package from the Institute. A student's financial aid package may include a Federal Direct Subsidized/Unsubsidized Loan and/or Grad PLUS Loan.

FAFSA School Code: 002798

TAP Graduate School Code: 5315

 

 

 

 

 

Financial Aid - Satisfactory Academic Progress and Pursuit(SAP)

According to federal regulations, all schools participating in Title IV programs (Federal Financial Aid) must establish satisfactory academic progress (SAP) standards.  A SAP policy helps ensure that students are moving toward successfully completing the program of study for which they are receiving Federal financial aid.  Because it’s federal law, the government can and will assess liabilities if our school doesn’t adequately monitor or apply SAP standards for students benefiting from Federal Financial Aid.

1. Student’s responsibility - Maintain satisfactory progress in his/her course of study for the duration of the degree.
2. School’s responsibility - Establishing and maintaining reasonable standards for measuring if a student is maintaining satisfactory progress in his/her course of study.

Pratt Institute SAP statuses

The Financial Aid office charts a student’s academic progress once a semester. Students are evaluated on two criteria: CUM GPA and TOTAL CREDITS COMPLETED at the end of each semester.  As you will see in the attached Standards of Degree & Academic Progress Chart, each degree has a required GPA and CREDIT requirement.

Our SAP statuses are as follows and calculated based on all enrolled terms whether or not financial aid was received or not:

1. Probation – means a student was Satisfactory during the previous term and is now failing to meet the SAP requirements for CUM GPA and/or COMPLETED CREDITS. At this point the student is sent a letter from the Financial Aid office stating their failure to meet the SAP requirements.  A student on probation may receive financial aid.  However, by the end of the probation period, the student must meet the stated minimum GPA and COMPLETED CREDIT requirements as defined in our SAP chart in order to receive additional financial aid.  If a student fails to meet one or more of the requirements by the end of the probation period, he/she will no longer be making satisfactory academic progress and will be ineligible for federal financial aid.
2. Unsatisfactory – means a student was on Probation during the previous term, failed to meet the SAP requirements at the end of that term and subsequently terminated from receiving future financial aid benefits.  Students terminated from receiving financial aid can reestablish eligibility by successfully completing the required minimum GPA and CREDIT requirements by the end of the next term.

Financial Aid Programs Affected
SAP rule applies to the following financial aid programs:
1. Federal Grants - PELL, Supplemental Educational Opportunity Grant (SEOG), & Academic Competitiveness Grant  (ACG)
2. Federal Loans – Perkins (NDSL), Direct Sub/Unsub & Graduate (PLUS).
3. Pratt Grant - At Pratt Institute we apply these same standards to the Pratt Grant award because a student must demonstration financial need by filing the FAFSA form to be eligible. 
4. HEOP – student enrolled in the HEOP program are allowed 2 extra semesters to complete their degrees and allowed to carry a min GPA of 1.70 until their 6th semester (see attached SAP chart).

Satisfactory Academic Progress (SAP) Process and Appeal

What is Satisfactory Academic Progress (SAP)
Federal regulations require that Pratt Institute monitor the Qualitative or Quantitative standards of academic progress for students who apply for and/or receive federal financial aid. To remain eligible for financial aid at Pratt, recipients are required to show Satisfactory Academic Progress (SAP) toward a degree according to the guidelines listed in the Satisfactory Academic Progress Chart.

What is Qualitative or Quantitative Standards?
Qualitative Measure: Each student receiving financial aid is expected to successfully complete all of his/her classes with good grades to continue receiving financial aid payments. 
Quantitative Measure: In order to maintain financial aid eligibility, the maximum number of attempted credits and length for completion of a particular degree is 150%.
 
How does SAP work?
The Financial Aid Office determines this eligibility after the submission of spring semester grades (once a year). A student must attend a minimum of two semesters at Pratt (summer excluded) before the financial aid office can begin to track their SAP standing.
     Example:
**If your start term at Pratt was the FALL 2009 semester, we will review your SAP standing for the first time after the submission of grades for the SPRING 2010 semester and at the conclusion of each SPRING term thereafter.
**If your start term at Pratt was the SPRING 2010, we will review your SAP standing after submission of grades for the SPRING 2011 semester and at the conclusion of each SPRING term thereafter. Students with a SPRING 2010 start term will not be tracked for SAP at the end of that semester because two or more semesters would not have been completed at Pratt. 
Undergraduate and graduate students who do not meet the minimum requirements for continuance on federal aid according to this policy will be notified of their status by the Office of Financial Aid during the month of June.

What are the statuses if a student fails to meet the SAP requirements for Financial Aid?
Probation – A student will receive this flag the first time he/she fails to meet the minimum requirements for Satisfactory Academic Progress, and will remain eligible for financial aid with this status during the next year of enrollment. At the end of the Probationary year, he/she is expected to meet the SAP requirements to remain eligible for Financial Aid in future semesters.
Unsatisfactory –A student will receive this flag if the SAP requirements are not met after one year of Probation, making him/her ineligible for financial aid. Please note that a student must meet all SAP criteria (GPA, completed credits and maximum time frame) to regain eligibility for aid once they are flagged as Unsatisfactory.

How to regain financial aid eligibility after failing to meet the requirements of SAP?
Students who fail to meet the qualitative and/or quantitative standards outlined in the Satisfactory Academic Chart can:
• Enroll in a Summer Session, in order to complete the necessary credits and or improve the GPA needed to meet the SAP requirements.
• File an appeal, requesting reconsideration of the loss of financial aid eligibility, as outlined below.

How to appeal for reconsideration after losing financial aid eligibility?
Any student placed on an Unsatisfactory status has the right to appeal if extenuating circumstances (beyond the student’s control) exist which caused him/her to fail one or more of the SAP requirements. Examples of extenuating circumstances include, but are not limited to:
• Illness, accident, domestic violence or injury experienced by you or a significant person in your life. Documentation required: physician's statement, police report, or other documentation from a third party professional; hospital billing statement
• Death of a family member or significant person in your life. Documentation required: a copy of the obituary or death certificate
• Divorce experienced by you or parent. Documentation required: attorney's letter on law firm's letterhead or copy of divorce decree
• Personal problems or issues with your spouse, family, roommate, or other significant person. Documentation required: written statement from medical doctor, counselor, attorney, or other professional adviser

The appeal should address and document these extenuating circumstances AND describe how circumstances have changed so that student is in a better position to be academically successful. The decision of this Appeal Process is final.

Submitting an appeal:
1. Before an appeal will be considered, a student must have a Free Application for Federal Student Aid (FAFSA) on file for the semester you are requesting financial aid.
2. The appeal must have the student’s name and ID number (or social security number), date, and signature listed on it.
3. The appeal should clearly identify the extenuating circumstances for the term in question.
4. Attach any necessary documentation that can help validate the appeal.
5. MUST include a degree audit from the Registrar’s Office.
6. MUST include an unofficial transcript from the Registrar’s Office.
7. Submit the appeal, all required documents and any supporting documents to the

Financial Aid Office
200 Willoughby Avenue
Myrtle Hall, 6th floor
Brooklyn, NY 11205

APPROVAL OF AN APPEAL DOES NOT GUARANTEE THAT ALL AWARDS WILL BE REINSTATED
If a student’s eligibility is reinstated, we will package with award funds we currently have available at the time of appeal decision.